By tayyabrehmat 
Have you heard about Bitcoin? It’s a kind of digital money that only exists online. Unlike the rupees you use every day, Bitcoin isn’t controlled by any government or bank. People all over the world are using Bitcoin to make money, and yes, you can do it too, right here in Pakistan! Don’t worry if it sounds a little confusing at first – I’m going to explain it in a super simple way so even a child can understand. Let’s dive into how you can make money with Bitcoin!
1. What is Bitcoin?
Before you start making money with Bitcoin, you need to know what it is. Imagine you have a coin in your hand. Now, imagine that this coin is not made of metal but is digital, like the numbers in a video game. Bitcoin is like that. It’s a kind of money that you can’t touch, but you can use it to buy things or even sell it to others for real money.
How Bitcoin Works
- Digital Currency: You can send or receive Bitcoin over the internet, just like sending an email or a text message.
- Blockchain: Bitcoin is powered by a technology called blockchain, which is like a giant digital ledger that keeps track of every transaction.
- No Bank Involved: When you send Bitcoin, there’s no bank in the middle. It’s just you and the person you’re sending it to!
Now that you know what Bitcoin is, let’s learn how you can make money with it.
2. Buying and Holding (HODLing) Bitcoin
One of the easiest ways to make money with Bitcoin is by buying it and holding it. This strategy is often called HODLing (Hold On for Dear Life) in the world of cryptocurrency. The idea is simple: buy Bitcoin when the price is low and wait for the price to go up. Once the price is higher, you can sell it and make a profit.
How to Do It:
- First, you need to buy Bitcoin. In Pakistan, you can use apps like Binance or LocalBitcoins to buy Bitcoin.
- After buying, just wait! You don’t have to do anything else. Over time, the value of Bitcoin can increase.
- When the price goes up, you can sell your Bitcoin for more than you paid for it.
Example:
If you buy Bitcoin when the price is Rs. 10,000 and later sell it when the price goes up to Rs. 20,000, you make a profit of Rs. 10,000.
3. Bitcoin Mining
Another way to make money with Bitcoin is by mining it. Mining means using a computer to solve very difficult math problems, and when you solve these problems, you get rewarded with Bitcoin. However, mining requires special computers and a lot of electricity, so it might not be the easiest option for beginners.
How Mining Works:
- Miners use powerful computers to solve puzzles.
- When a miner solves a puzzle, they get Bitcoin as a reward.
- This process helps keep the Bitcoin network running smoothly.
Can You Mine Bitcoin in Pakistan?
Yes, you can mine Bitcoin in Pakistan, but you need to invest in some powerful machines called ASIC miners. Keep in mind that mining uses a lot of electricity, so it might not be the cheapest way to get Bitcoin.
4. Trading Bitcoin
Do you like to buy and sell things? If yes, then trading Bitcoin might be a fun way for you to make money. Bitcoin trading means buying Bitcoin when the price is low and selling it when the price goes up, but instead of holding onto it for a long time (like in HODLing), you buy and sell more often.
How to Trade Bitcoin:
- Buy Low, Sell High: Watch the market to see when the price of Bitcoin drops, and buy it. Then, when the price goes up again, sell it to make a profit.
- Use platforms like Binance, Coinbase, or Paxful to trade Bitcoin.
- Keep an eye on the price and be ready to sell when it goes up.
Example:
You buy 1 Bitcoin when it costs Rs. 5,000. A few days later, the price goes up to Rs. 7,000. You sell it and make a profit of Rs. 2,000.
5. Accepting Bitcoin as Payment
If you run a business or sell things online, you can accept Bitcoin as payment. Many people around the world are using Bitcoin to buy products and services, and you can accept Bitcoin from your customers. This is a great way to earn Bitcoin and grow your business at the same time.
How to Accept Bitcoin:
- First, set up a Bitcoin wallet using apps like Trust Wallet or Coinomi.
- Let your customers know that you accept Bitcoin as payment.
- When someone pays you in Bitcoin, it will go directly into your wallet.
Example:
You have a small online store selling clothes. A customer from another country wants to buy something, but they want to pay in Bitcoin. You accept their Bitcoin, and you can later exchange it for Pakistani rupees.
6. Earn Bitcoin by Playing Games
Did you know you can earn Bitcoin by playing games? That’s right! There are games where you can get Bitcoin as a reward for completing missions or reaching certain levels. This can be a fun way to earn small amounts of Bitcoin in your free time.
How to Do It:
- Look for apps and websites that offer Bitcoin rewards for playing games.
- Some examples are Bitcoin Alien Run and CryptoPop.
- As you play, you earn small amounts of Bitcoin, which you can collect over time.
Example:
Ali loves playing games on his phone. He started playing a game called Bitcoin Alien Run, and after playing for a few hours, he earned some Bitcoin. He didn’t have to spend any money, just time!
7. Earn Bitcoin Through Freelancing
If you have a skill like writing, graphic design, or coding, you can earn Bitcoin by doing freelance work. Some websites allow you to offer your services and get paid in Bitcoin.
How to Do It:
- Sign up on freelancing platforms like Bitwage or CryptoJobs.
- Offer your services, like writing, graphic design, or coding.
- When you complete a job, you can get paid in Bitcoin.
Example:
Sara is a graphic designer. She joined a website called Bitwage, where clients pay her in Bitcoin for her work. She earns Bitcoin for every project she completes, and she can either save it or exchange it for rupees.
8. Participate in Bitcoin Affiliate Programs
Do you have a lot of friends or followers on social media? If yes, you can join Bitcoin affiliate programs to make money. An affiliate program pays you a commission every time someone signs up for a service using your special referral link.
How to Do It:
- Sign up for affiliate programs on platforms like Coinbase, Binance, or LocalBitcoins.
- Share your referral link with your friends or on social media.
- Each time someone signs up using your link and buys Bitcoin, you get a commission.
Example:
Taha signed up for the Binance affiliate program and shared his referral link with his friends on WhatsApp. Each time one of his friends signed up and bought Bitcoin, Taha earned a small commission.
9. Using Bitcoin Faucets
A Bitcoin faucet is a website or app that gives you small amounts of Bitcoin for free, usually in exchange for completing tasks or watching ads. It’s a simple and easy way to start collecting Bitcoin without spending any money.
How to Do It:
- Visit websites like Cointiply, FreeBitco.in, or Moon Bitcoin.
- Complete simple tasks, like watching ads or filling out surveys.
- You’ll earn small amounts of Bitcoin, which you can save over time.
Example:
Bilal found a website called FreeBitco.in, where he watched a few ads and answered some questions. In return, he earned a small amount of Bitcoin every day, which he saved up.
Conclusion
Making money with Bitcoin in Pakistan is not as difficult as it seems. Whether you’re buying and holding, trading, accepting Bitcoin as payment, or even playing games, there are many ways to earn money with this digital currency. The key is to start small, learn how Bitcoin works, and choose a method that suits you.
Remember, while Bitcoin can be a great way to make money, it’s also important to be careful and do your research before investing or trading. Happy earning!