For example, you spend $8,000 on a miner and in 12 months it mines $20,000 worth of your chosen cryptocurrency. Minus the $8,000 in costs, you net $12,000 or 1.5x your initial investment. You spent 1 bitcoin ($8,000) and in 12 months time you now have 1.5 ($12,000). Value. The other way to make money with cryptocurrency is based off the value. The strategies in a Day Trading Setup may sound, to some, like extra work in an already fast-paced and busy world of Bitcoin trading, But, the use of a Day Trading set up can offer a lot of certainty and structure to an already established Day Trading Strategy, and it can help point out different opportunities to make quick profits. 10. Bitcoin Trading. There is potential to make big money trading bitcoin. Unlike buying and holding, trading bitcoin means you buy at a low price and sell them back at a higher price. This requires practice and knowledge of the market and to some extent a crystal ball. However, there is a way to make money mining Bitcoin without moving to China to set up a mining farm. With the recent drop in Bitcoin price from the $11,000-handlle to the lower $ 8,000’s, many mining companies are going broke that bought equipment at prices above the $10,000-handle. Short-term trades and day trading can be a great way of making some money over a much shorter period of time. Day Trading: The goal of day trading is the same: Buy low, sell high. It just happens more frequently and with smaller increments. Since prices are updated every minute, there are lots of opportunities to make a substantial amount.
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