In the world, a lot of bitcoin supporters here and there who trust that the digital currency is the future of transactions, and investing in one would be the best decision right now. There are many popular ways to earn bitcoin, for example, bitcoin mining, exchanging bitcoins, recovering from others, and so on. Many people took it wrong and tended to think that cryptocurrency (bitcoin) is a new form of digital currency, it is easy to earn a lot of money from it by using some magical formula.
But it’s not like that; Bitcoin is just like any other currency out there. Just like there’s no easy or risk-free way to make quick and fast money, there’s no such thing called a mystical trick to gather Bitcoin. While cryptocurrencies, in general, might be generating income in the future but basically it is the same as any other investment option, though possibilities are there. If one is willing to make money, he/she needs to invest time or money first. There are investors who choose to keep them for a longer period, and some just exchange them as soon as profitability is seen in the market.
Consider bitcoin as any other investment option that people purchase as an investment. In fact, the principle of buying at a low price and selling at higher is applied here too. So, how can you earn bitcoins? Apparently, there are several ways to earn bitcoins, and in this article, I will guide you through some of them.
Bitcoin Mining
“Bitcoin mining” is the one popular and primeval way of instantly earning bitcoins. Recently, many mining companies have been launched, making earning bitcoins quite easy with this process. In the mining process, solving a difficult computationally puzzle is involved in discovering a new block and finally added to the blockchain, and as a result, few bitcoins are formed.
In 2009, a regular computer was able to generate the coins, but now more bitcoins are being generated; as a result, the mining process is getting difficult day by day. In fact, today, Bitcoin mining shifted from a hobby and became more of a profession. To start mining, it requires exceptionally expensive tools, a high cost of electricity, excellent hardware configuration, and physical space actually to store the miners.
Receive As Payment
By accepting payment in Bitcoin you may earn bitcoin. There are a lot of entrepreneurs that started accepting bitcoins and other digital currency as their payments. The payment of bitcoins can be made with a request through hardware mining, which eventually gets transferred into a virtual wallet.
Bitcoin: work for it
By doing Bitcoin jobs you may gather bitcoins too. But, it has limitations as it is not a popular process to earn bitcoins like others. As a self-employed, you can explore many options that pay in bitcoins. The most time-consuming but one cheapest and easiest way to keep earning Bitcoin is through “Micro Earnings”.
By this, one has to do small tasks given by these platforms, and in return, the worker gets a small unit of a bitcoin for the time spent on the site. This can be subcategorized as a PTC website, PTC stands for “Pay-to-Click” websites where you get paid for watching ads and clicking on them.
There are a lot of websites that are solely dedicated to crypto-currency paying works. Here are some for your reference.
- Workforbitcoin.com
- Coinality.com
- Dogecoin.com
- Litecoin.com
- Jobs4bitcoins.com
These websites act as a middleman and bring the work-seeker and potential employers mutually through their dashboard. People can work on these sites as a freelancer, part-time, full-time, and receive payments in bitcoin.
Run a Faucet
If you are a faucet user, you might not earn much money but owning a faucet is a “whole different story”. Today, building a “cryptocurrency faucet” is relatively easy and you may earn easy money from selling small ads on the websites. Depending on advertisers and according to the generated traffic, a faucet may make up to $1500/month.
Nevertheless, a good amount of effort and time is required to run a faucet. These include the initial funding for the faucet, the website set up, preventing fraud and scams, etc. Running a faucet has its own “merits and demerits” like it requires great effort and capital to start and have low to medium rewards with a medium amount of risk.
Through Bitcoin Trading
Bitcoin trading is one riskiest and easiest way to make money. Basically, the thumb rule is finding and purchasing Bitcoin at a price lower than its actual value and then sell it when the price rises in the digital market. However, this is not a single day task, nor an armature can do it easily. It requires traders to spend a good amount of time to learn how the bitcoin trade works and finding ways to overcome the unexpected risks in trading.
A successful trader knows that it’s very important to learn the basics before making any money, so always make sure that he has the capital, time and energy to invest in high-quality trading education. Please invest in the future, as many successful traders do.
Becoming a successful trader takes a medium to high-level effort, depending on learning and other factors. One may lose all money when the tenure is short, but since investors prefer the long term, they can yield high rewards.
Affiliate Programs
One most ignored way to generate huge money from Bitcoin is by promoting through various affiliate programs. Affiliates promote certain products or services at free of cost and receive a commission from clients. In different Bitcoin exchanger companies, services, and products have an “affiliate program” that allows sign up. Get an “unique affiliate link” in order to promote that business or service.
There are many paid and free ways to promote affiliate links; by sharing it on social media like Facebook, run ad campaigns on different websites, or even set up an information site and promote the “affiliate links” within the content. Promoting Bitcoin affiliate programs requires huge effort but can acquire higher rewards but doesn’t contain high risk.
Gambling
This is another (not recommended) trick to earn bitcoins. There are a bunch of options available in the casino to earn bitcoins such as online jackpots, lotteries, betting, casino games, to earn bitcoins. Though, it is highly recommended to prevent anyone from these high risky gambling sites from getting bitcoins.
Before investing money into any casino or gambling site, make sure the casino is provably fair and legit. A highly trusted “Bitcoin casino” will make money through a cryptography-based “mathematical algorithm” and not manipulate any results. Apart from this, you may find a few more popular ways to earn bitcoins: cash-back, affiliate marketing, tips, arbitrage, etc.
Crypto-Interest
There are some ways to gather bitcoins in this method, including referring friends, lending your bitcoins to others, and by doing this, you will earn interest.
Summing up
According to bitcoins experts: bitcoin is growing bigger in the world of digital currency with its own relations, with increasing acceptance in the online world through the casino, online payments, shopping cash-back, etc.
Nevertheless, many investors are still holding themselves back from investing because bitcoins lack clarity, government legality, and regulations. So far, it can be said that each method has its pros and cons. Some are riskier, while others have great returns.
