Bitcoin Business Rules
Bitcoin is an international currency. Many people transact online using Bitcoin. Nowadays many people are interested to know about bitcoin business on the internet. Moreover, many people want to know how to earn Bitcoin or how to earn Bitcoin. In today’s post I will try to give you a rough idea about this.
How to earn bitcoins
Bitcoins are generally accepted by those working in international marketplaces from their clients. Bitcoin is a type of international currency that many of us know as crypto currency. Suppose you have done a job and he will pay you in crypto currency then you can earn in bitcoin from here. This is usually how bitcoins are earned.
Bitcoin Business rules
Bitcoin trading is prevalent in many countries but Bitcoin is banned in the context of Bangladesh. In other words, Bitcoin transactions have been banned in Bangladesh for a long time. But Bitcoin trading or tripocurrency trading is common in many countries around the world. In this way, many people buy bitcoins when the price of bitcoins goes down and when the price of bitcoins goes up, they sell bitcoins and earn good money.
In many foreign countries, many people earn up to lakhs of taka in this way. There are numerous ways to buy bitcoins that many people use to buy bitcoins. But no one living in Bangladesh should do Bitcoin trading as it is legally prohibited in our country so arrest warrant may be issued against you.
There are many ways you can earn from Bitcoin trading. Among them are trading, staking and yield farming, mining, token sale and pre-sale, exchange, investment, lending or lender, wallet creation etc.
1. Trading
Cryptocurrency prices rise very quickly. Trading is the process of buying and selling cryptocurrencies over time in order to profit from this process of price changes. Trading requires in-depth knowledge of technical analysis and understanding of market trends.
Risks are high in this business process. But taking the right action at the right time is much more profitable than the risk. Trading is the process of buying and selling cryptocurrency at the right time.
2. Staking and yield farming
Staking refers to the process of buying and stocking cryptocurrency. Also, buying and stocking cryptocurrency coins when the price is low, then selling them at a higher price when the price rises.
In addition, various wallet platforms provide additional tokens as an incentive for storing coins for a long time. Yield farming is a means of earning additional refunds by stocking coins on platforms like DeFi. If we observe, we can see that the price of Bitcoin has increased hundreds of times compared to 2010. Those who bought and stocked Bitcoin at the time are now reaping huge profits.
3. Mining
Creating new cryptocurrencies by validating cryptocurrencies and editing transactions in a blockchain network system. Cryptocurrency transactions and verification are usually done through mining, which yields new cryptocurrencies as a reward. This task requires special hardware and software and a separate computer. It is very important to have proper planning before mining.
4. Token sale and pre-sale
Usually when a new cryptocurrency coin hits the market, companies sell and pre-sell the crypto project’s tokens. During this time the price of the tokens is very low, later the price increases when listed on the exchange. But many coins are not covered by exchange list, you have to be careful about this. You can buy them at a low price during the token sale and pre-sale and sell them at a much higher price after the listing.
5. Exchange
Exchange means to change. If you have a specific crypto coin, you can exchange it for another specific crypto coin or dollar. Or create trading apps or websites, charging a percentage (%) fee on each trade.
6. Investment and wallet
If you have a long-term business project, you can invest in Bitcoin, Shibainu, Ethereum and other popular crypto coins. You can also invest money in new crypto coin projects or any type of digital wallet company. Or you can create a new digital wallet, through which cryptocurrency transactions can be made. These businesses are very profitable for the future. But before investing you must do special research.
7. Lending or lender
You can work as a professional cryptocurrency lender using established platforms. You will lend cryptocurrency coins under various conditions, and collect interest from the customer as the term of the loan. There is considerable risk in this work. Also, the biggest obstacle is that such activities are forbidden in Islam. You can start this business if you want according to your opinion.
Source of income
By doing this business you can earn in different ways. Let’s learn about how cryptocurrency trading works and what other ways you can do this trading.
- Traders buy and sell (trading) crypto coins by analyzing the coin’s price in the market at different times.
- You can earn by creating apps based on crypto coins.
- If you are an expert about crypto coins, you can earn through various online consulting.
- New crypto coins are gifted by mining (Mining).
- Crypto Coin Exchange Process (Exchange) with Rupees or Dollars
- Investing money in various crypto coin industries.
- Can Lend Crypto Coins (Lending or Lending)
What are the types of cryptocurrencies?
The current list contains more than 1000 cryptocurrencies. However, not all Crypto Currencies are equally popular. Let’s know the names of some popular cryptocurrencies.
- Bitcoin (BTC)
- Ethereum (ETH)
- Lite Coin (LTC)
- FAIR COIN
- Ripple
- Monero (XMR)
- Dogecoin (DOGE)
- Polygon (MATIC)
- Cardano (ADA)
- Binance Coin (BNB)
- Solana (SOL)
- Tether USDt
- USD Coin (USDC)
- Tron (TRX)
last word
Dear readers, I hope you have learned more about cryptocurrency trading. In the present world and in the next 10 years this business will expand greatly. You can start this business if you have enough capital and enough ideas. But cryptocurrency trading is not as simple as it seems. To trade crypto you need to do a thorough due diligence and have a good understanding of the cryptocurrency market.
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