How You Can Profit From The Bitcoin Craze

2. Accept Payment in Cryptocurrency

Another way to make money with cryptocurrencies is to accept them as payment. If you have a business where you sell products or services, you can accept payment in the cryptocurrency of your choice. You need a digital wallet, and to work with people who are willing to pay in cryptocurrency.

With a little research, you can find clients or customers that use cryptocurrencies and are willing to pay you by transferring the coin through the blockchain. You will have to be able to calculate a rough estimate of what a service might cost, though, based on the value of the coin. For example some of your services may cost one-fourth or one-third of a Bitcoin, or you might be able to ask for three or four ETH if you were being paid in Ethereum. The idea is to have a feel for how your products and services translate into the cryptocurrency of your choice.

After you receive the payment, you could either use it to pay others for somethingĀ or hold onto it until it rises in value. If the value of the coin goes up, you could see a solid profit by selling for U.S. dollars at a later date.

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