Yes, you can make money with BitCoins!

Yes, you can make money with BitCoins!

After quite a bit of time searching, I’ve found a couple of investments that I’ve had solid results.  By solid, I mean much better than investments I’ve made in stocks, mutual funds, etc.

If you’re like me, you want an investment that doesn’t take until retirement to really pay off.  I’ve tried these and I’m completely stoked about what I’ve seen so far with these.  There are only 2 that I’ve found that are reliable.  One is quicker growth via Bitcoin P2P loans, and may look a little more risky, but I’ve done pretty well with the investments I’ve made.  The other is a slower growth, but offers a steady growth/income with a mining contract over a 5 year term.  I estimate the ROI on your investment is in under the first year.  After that, it’s just income.

Both of these are bitcoin based, so you can invest bitcoins and get your earnings in bitcoins.  This means you don’t have to risk sharing your bank or credit card information with them.  You will have to get some bitcoins to start with, but that is relatively easy to do.  Not many places let you use PayPal to buy bitcoins anymore due to the risk, and credit cards are generally not supported due to the fees they have to pay.  So how do you get bit coins?  I’ve found the best (and most reliable) way is to use Coinbase.  They’re established and let you buy bitcoins using an ACH draft from your bank account.  I’ve used them for quite some time and haven’t had any issues.  Note that there is a verification stage that can take a couple of days.  They like to be safe (which I believe is a good thing).

Now that you have some bitcoins, I’ll talk a little bit about the slower but steady income investment.  PB Mining offers 5-year contracts for BitCoin mining at an incredible price.  Essentially you’re buying cloud server resources in increments of GH/s that are used to mine BitCoins.  If you don’t know what that means… it doesn’t really matter much.  The short of it is, you pay for a portion of the BitCoin mining resources and get paid out weekly on what is mined with those resources for a full 5 years.  You can watch your account balance grow every minute and they offer payouts weekly, so you can re-invest as you go, or just keep the BitCoins earned each week.  They are automatically sent to your BitCoin address and there’s no need to request a withdrawal.

The sign up process and investment process is dead simple.  Just follow this link and it’s pretty self-explanatory.  My calculations may be a bit off, but I started by investing 0.24 bitcoins and based on the current earnings per week, I should earn that amount in a few short months.  After that, it’s pure profit.

PB Mining

The second investment option allows you to invest in P2P (peer to peer) loans using Bitcoins at BitLendingClub. The premise is a person requests a certain amount for a loan, explains what they intend to use the loan for and sometimes states the interest rate they are comfortable with. You have the option to invest Bitcoins for a part (or whole) of the loan and specify the interest rate you feel is warranted. Other people can also invest in the same loan. The system automatically chooses the lowest interest rate investments to make up the loan funding and the user has the option to refuse an investment, so this keeps the overall interest from getting too crazy, but it’s still a pretty high rate for investment.

The interest rate you specify is a little different for a traditional loan. The interest rate is a flat rate that will be paid, regardless of the loan term. It does display what the actual APR is for reference. For example, if you invest 0.1 Bitcoins in a loan at 6%, the payment back to you would be 0.106 Bitcoins. The term of the loan could be 1 day, 7 days, 14 days… up to a year or more. Typically longer terms are higher interest, but a normal 30 day loan can be anywhere from 4-5% for a trusted member to 10%+ for more risky or higher loan amounts. Depending on your goals and risk tolerance, you can choose the types of loans and rates make sense to you. The BitLendingCLub FAQ page explains it much better than I can.

BitCasino

Another strategy that’s used on the site from time to time is borrowing Bitcoins at a lower interest rate (after you’ve earned reputation) and lending it back out at a higher rate to other members. This is a good way to earn some extra money without investing all of your own money upfront, although I wouldn’t recommend investing in high risk loans with borrowed money. That’s a bad idea no matter what type of investments you’re making.

BitCasino
PB Mining

If you sign up with these (or have other tools I haven’t found) please comment below.  Note that due to spam bots, the comments are moderated and are spam filtered.  So your comments may not show up immediately, but they will.  Let’s help each other by sharing information.

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