How to Make Money With Bitcoin in 2023 (Make money investing with Bitcoin)

i'll be teaching you how to make money

with bitcoin for this year you know it's

been a crazy ride and while some people

might think we're in a crypto winter and

that's got nothing to do with my name i

actually think that we're in one of the

perfect times to get started and if you

didn't know i'm currently giving away

five thousand dollars to my subscribers

as a thanks for all the support over the

last seven years you guys have allowed

me to live my dream of traveling the

world going on amazing adventures and

honestly i can't thank you enough

youtube has changed my life look i know

times are tough and a lot of people are

struggling with money so if that's you

to enter all you need to do is obviously

be a subscriber and comment on this

video i'll send a 100 paypal payment to

what i think are the best comments on my

videos but let's jump right into it now

with our first topic which is learning

the macroeconomics of bitcoin all right

so the price of bitcoin is one of the

key indicators in how the crypto market

is actually doing know the

macroeconomics of crypto and bitcoin and

you'll separate yourself from everyone

else now like many other markets the

crypto market itself is actually

affected by inflation adoption growth

rate and the overall market sentiment

and don't get me wrong there are

definitely some unforeseen factors in

world events like the war in russia that

could significantly affect the price of

bitcoin i mean if countries stopped

utilizing or accepting payments in

bitcoin well then the value is going to

drop but i always believe that you

should start with a broad big picture

approach all right so let's take a look

from a macro technical analysis point of

view bitcoin reached 68 000 back in

november 2021. now fallen over 65 from

its all-time high one can time the

bottom of the market and if they can

they're probably trying to sell you

something if you're wanting to make

money with bitcoin in the long term

buying now could very well be at a huge

discount next up you need to choose a

reputable bitcoin exchange this is

really really important so if you want

to buy or sell cryptocurrencies then you

have to open an account with a reputable

cryptocurrency exchange and with so many

different options out there you need to

make sure the ones you choose are

legitimate have honest leadership and

they can't do rug pools so they can't

just take your money away from you and

just recently sites like celsius and

voyager seemed like legit great options

they recently filed for bankruptcy

because of the recent downturns in the

crypto market these exchanges didn't

have enough liquidity because they

learnt some of their assets out to other

institutions and had to freeze multiple

user accounts which basically caused

panic and ultimately led to bankruptcy

so if you want to keep the money that

you make with bitcoin you need to make

sure that the exchanges have great

honest leaders promise to never freeze

your accounts and you have to research

where and how your money is being lent

out i personally like binance and use

them but there are some other great

exchanges but there are also some bad

ones as well so be sure to do your own

research since i'm not a financial

advisor next up you've got to know how

to actually buy bitcoin if you want to

make some money with it so once you've

chosen your exchange you need to fund

your account's wallet and once you have

money in your digital wallet you can

start buying bitcoin it's pretty fun so

one bitcoin's been anywhere from ten

thousand to sixty thousand dollars over

the last few years that doesn't mean you

actually need that much money to get

started buying you can actually buy a

fraction of a bitcoin sometimes for as

low as one dollar depending on the

exchange that you're using so there are

multiple ways to invest in bitcoin

however if it would mean especially if

you're just getting started i'd go for

the dollar cost averaging method also

known as dca or dca this is where you

invest the same amount week in week out

regardless of the price that's because

no one knows how high or how low

bitcoin's price is going to go and it

fluctuates all the time so rather than

trying to time the market you get the

best of both worlds and have a solid

average over time

did i mention before that the price of

bitcoin's down around 65 from its

all-time high well this could mean it's

a really good time to start dollar cost

averaging all right so we're coming up

to what's probably the most important

part of this video so pay attention here

guys because bitcoin has been booming

over the past few years there's been an

increase in theft fraud hacking

kidnapping disappearance you name it

it's pretty much happened crypto's

pretty crazy and as a new bitcoin trader

you wouldn't want to lose any of your

investments that you've got so i highly

highly highly suggest using cold storage

or a cold wallet so cold storage is a

system that removes your bitcoin keys

from your wallet and stores them

somewhere that's not connected to the

network or the internet making it pretty

much impossible for hackers to hack into

so there are many ways of storing your

wallets offline like literally printing

out the keys onto a piece of paper you

can also explore using hardware wallets

or a cold wallet like usb drives for

storage for me i'd use something called

a ledger nano s i've been using these

for years they're really easy to use and

just make sure that you buy it from

their website not from a third party

because you want to make sure it's 100

secure i'll put a link in the

description box below if you want to

check them out but i'm not affiliated to

them at all all right so let's talk

about making a little bit of money from

the actual crypto you have so we're

going to talk about staking which is not

a juicy piece of meat rather it's a

method of earning rewards by providing a

crypto to a pool to help secure the

blockchain network so if you didn't know

and i don't want to go too deep in this

especially if you're just getting into

this but bitcoin is currently a proof of

work protocol which means people in this

case miners verify transactions and they

help secure the blockchain network but

they do need superior computing power to

do so while bitcoin itself doesn't allow

staking many exchanges allow you to

trade bitcoin for other cryptocurrencies

like ethereum you've probably heard of

that that you can stake and then earn

passive income on so staking can vary

depending on which platform you use but

you can see returns of anywhere from

three to six percent exchanges like

gemini also allow you to swap your

bitcoin in exchange for their native

token gemini dollar or gusd and by doing

this you're able to earn around about

2.75 percent apy on your bitcoin what's

nice about gusd is that it's backed by

the us dollar at a one-to-one ratio but

be warned there is a risk as gemini does

lend you bitcoin to third-party lenders

and they themselves are not fully backed

by anyone so in essence they could not

return the money to gemini which they

themselves may freeze your account again

do your own research on this but if

you're okay with the risk this could be

a way to make passive income by staking

and earning rewards on your bitcoin so

what i want to know now is are you

invested in bitcoin or are you invested

in another cryptocurrency let me know in

the comments down below which one you're

invested in is it bitcoin or is it

something like ethereum or is it an

altcoin have you ever done staking have

you ever staked your cryptocurrency let

me know that as well and also if you

know of different ways to make money

through bitcoin let me know that as well

because that'll really help the

community and there might be a lot of

people just jumping into the world of

cryptocurrency obviously it's becoming

very very popular this year uh and maybe

you'll be able to help them they might

not even know about it and you might be

able to help them out with it good luck

if you are investing in bitcoin this

year i actually do believe in bitcoin

but i do want to warn you to always

think if it looks too good it probably

is okay so just do everything slow and

steady and hopefully you'll be able to

have great success with bitcoin this