How to Get Rich on Bitcoin

April 7, 2013 Make Money Online

Bitcoin is rising crazy! Are you able to get your hands on Bitcoins? Two months ago, the price was around $30, and today it’s around $160. If you bought some back then and sell it now, you would make a profit! But somehow, you might want to hoard the coins for now. 🙂 How to get rich on Bitcoin? Let’s take a look at some of the Bitcoin money making opportunities.

Get Free Bitcoin – This forum thread has a list of sites that give out free Bitcoins, gambling sites that give out small amounts to gamble, or mini job sites that pay you in Bitcoins. For example, Daily Bitcoins, Bitcoiner

Make Money with Bitcoin Mining – Mining Bitcoin with graphics card are not as profitable as before, most Bitcoin miners turn to ASIC (Application Specific Integrated Circuit) hardware. However, the problem is that there aren’t too many Bitcoin ASIC hardware suppliers. So far, Avalon is the only supplier that actually started shipping its first batch of product last month. Avalon batch 3 has sold out, sign up their mailing list and get notified for the next batch. According to the many posts I read at Butterfly Labs forum, many pre-order customers are still waiting for their Jalapeno since last year. Another option is ASICMINER.

Invest in Bitcoin Mining Business – Instead of mining Bitcoin yourself, you can invest in ASICMINER – a company that specializes in Bitcoin mining using their self-built ASIC devices. You can buy their shares and earn Bitcoin dividend payment. Interested? You can find more basic info on this ASICMINER thread. Where to buy ASICMINER shares? Try btct.co, the highly recommended BTC Virtual Stock Exchange.

Run a Store Accepting Bitcoin – If you already have an online store and want to add Bitcoin as a payment option, check out bitpay, a well-known Bitcoin payment solution provider. If you don’t have any online store, but want to set one up without stocking inventory, you can look for merchants like “All Things Luxury” – a British Columbia based discount fashion jewelry and luxury gift store. They have affiliate, reseller, and dropship programs.

Make Money with Bitcoin Arbitrage – BTC.re has a good example of how you can make money by buying and selling at BTC-E and MtGox. Here is how it works:
Requirements: BTC-E.com account and with at least $148.5 or 1 BTC fund, MtGox.com Account
How:
•Buy at least 1 Bitcoin @ $148.5 USD rate at BTC-E.com
•Withdraw 1 BTC from BTC-E.com and transfer to MtGox.com address, with 0.01 BTC fee
•Once transferred, sell 0.99 BTC @ $162.5 USD rate from MtGox.com
•Withdraw $160.875 to MTGox USD Coupon
•Transfer MtGox Coupon to BTC-e.com via BitInstant.com with 1% fee
•Earn a profit of $10.766

Earn Money by Displaying Anonymous Ads – AnonymousAds is quite new, and I believe it’s still under constant development. Minimum payout is 0.01Ƀ and there is no withdrawal fees. Publishers also receive 10% commission for referring advertisers to the system. Hmm, maybe I can earn Bitcoins by posting Anonymous Ads on some Tumblr NSFW blogs?