How to Get Rich with Bitcoin

Early Bitcoin Millionaires

When Bitcoin was first launched in early 2009, only a relatively few people were mining. They didn’t need special super-fast computers because there wasn’t much competition to solve blocks on the blockchain, and they got a 50 BTC reward for each one.

Bitcoin Miners Today

Today, as we’ve talked about before, it’s hard to make money as a bitcoin miner. The machines have grown substantially in power and price, and the high cost makes profit minimal.

Investment and Trading Potential

The most popular way to make money with Bitcoin today is by purchasing it as an investment and hoping the price goes up. Of course, this is a long-term play and not even remotely a get-rich-quick scheme. The price of bitcoin goes up and down by a few hundred or a few thousand every day, and with the right timing you could make some money … but unless you have the funds to purchase a lot, and the patience to wait for years, the windfall might be relatively small.

Hodling Strategy

While there is always the chance that you could get rich with Bitcoin, there are definitely no guarantees. If you’d like to try the “hodling” strategy (buying bitcoin now and holding it with the expectation that the price will continue to increase over the long haul), we invite you to trade cash for crypto at your nearest Coin Cloud Bitcoin ATM.

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Coin Cloud

Coin Cloud

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The world’s leading operator of two-way Digital Currency Machines (DCMs), more advanced Bitcoin ATMs.