2020 ended with a Bitcoin (BTC) bull run reaching a historic height of 33,000 in early January 2021. In 2021, BTC is turning 12 year s old. It is time to remind ourselves how a new comer would start making money with BTC in 2021.
Bitcoin mining is one of the first ways to get BTC before there were exchanges like Bitprive allowing users to buy BTC easily within minutes. Back in the day, miners – computer users (sometimes with really powerful computers to solve math problems on the blockchain and when it’s complete, the miners would be rewarded with BTC that is “newly mined”. People are often reminiscent of the past when thousands of BTC could be mined with a simple home PC. However, things are different now and the equipment required and the amount that could be mined are different now.
In general, you will need a really powerful computer nowadays to be successful in mining BTC. The electricity bill will be surprisingly high as well. People also use something called the BTC mining pools or mining clouds to group together a band of miners to combine the computing power to mine BTC quicker. As you can see, you will need more computing power to achieve less mining results nowadays and hence it is no longer a very popular method of turning a profit with BTC.
Stay tuned with our Bitprive Blog for our release of BTC mining guide soon!
Bitcoin has hit its all-time high above $33,000 in January 2021, putting Bitcoin’s gains to over 200% in 2020. This bull run is wildly accepted to be caused by increased investments from institutional investors. We have witnessed a rise of professional investments into Bitcoin and other cryptocurrencies in 2020. Cryptos are being structured as funds to provide guaranteed returns for investors, cryptos being included in various investment products. Also the entrance of major financial players played a big role. For example. PayPal has provided its massive client base – 26 million merchants the payment gateway for cryptocurrencies and DBS bank has also announced its crypto plans.
The best approach to make money with BTC therefore seems to be just buy some and hold it. It is often referred to as HODLING in the crypto community. We highly recommend you to start investing in the most convenient way possible with eKYC and simple onboarding procedures at Bitprive!
Bitprive’s affiliate programme
At Bitprive, one of our business objectives is to grow with all of our partners including our loyal users.
As an Affiliate, you have the opportunity to introduce third parties to the Bitprive Marketplace and to earn commissions based on their trades made on our platform.
To give you a brief overview:
- Tier 1 Referral: A Tier 1 Referral is a third party that registers to use the Bitprive Marketplace using the unique registration link that Bitprive provided to you when you registered with the Affiliate Program.
- Tier 2 Referral: A Tier 2 Referral is a third party that registers to use the Bitprive Marketplace using the unique registration link that Bitprive will have provided to a Tier 1 Referral of yours.
Head over to our blog post on our Affiliate Program to learn more!
BTC as a payment method
Accepting cryptocurrencies as a method of payment for your business has a lot of advantages over only accepting cash and credit cards. To name a few:
- Reach clients without borders– Globally speaking, not having to exchange money and pay for the rates and fees make a huge difference for the global customers from virtually every corner of the world.
- Low fee transactions– Some exchanges like Bitprive does not even charge buyers fees for buying and storing crypto, it is way cheaper than using traditional electronic payment methods.
- Security– Cryptocurrencies by nature is the most secured and anonymous payment invention ever.
Head over to our blog post on how to start accepting Crypto as a payment method now to learn more.
Decentralized Finance really picked up its pace in 2020 after its popularization in late 2019. We can now see a lot of exchanges incorporating DeFi in their product offerings. For the uninitiated, DeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries.
As exchanges start to roll out their DeFi products globally in different jurisdictions, we can see there is a higher adoption rate and in the long run, we are optimistic to see further adoption as institutional investors continues to put resources into Crypto investments.
Stay tuned for the launch of our own Bitprive DeFi Protocol in 2021!
Now… in 2021
Bitcoin is truly something that could change one’s life as evident by the recent bull run. Our advice is always to do adequate research and consult professionals to reach an informed decision before making any investment or purchasing decision.
Disclaimer: The content herein is not, and is not intended to be, legal, financial, investment, or other advice.