How to earn some Bitcoin is a question that many wonder. Bitcoin and crypto mining is definitely one of the ways. But is it the only way?
Actually no, Bitcoin mining is what this website is all about, and it’s going to be the first way to earn some Bitcoin. But it’s definitely not the only one.
So, let’s take a look at some ways to make Bitcoin:
#1- Bitcoin mining
Mining is definitely the first way that allowed you to generate some Bitcoin. Since the birth of the Bitcoin network, miners had an incentive to protect the network and earn Bitcoins along the way. There’s definitely a lot to talk about Bitcoin mining, however, there are already great resources on this website that cover it. If you want to learn about earning Bitcoin through mining, I advice you start here. It has all the info on what mining is, as well what hardware and software to use to maximize your earnings.
#2- Bitcoin trading
Bitcoin trading is surely the second most popular way to earn Bitcoin, and has brought lots of popularity to Bitcoin and other cryptos. In a nutshell, it’s not really different than regular trading with stocks, except you can start much easier and with less capital. The market is also very volatile, which can bring you amazing gains, but also drain your capital quickly if you’re not careful.
I may write a more in-depth article on Bitcoin trading in the future, but for now you can google a bit about it. Be sure to start small and progressively build your fortune. Otherwise, you can burn easily and no one likes that.
There are quite a few exchanges that you can use, and choosing the best one will depend on your location. If you’re in Australia, for example, you can check Swyftx– Australia’s fastest growing cryptocurrency exchange.
As a beginner, you may also benefit from one of the best crypto trading signals in the business, by following the steps of crypto experts/traders.
#3- Accept payments in Bitcoin
If you have a website or other medium on which you sell something- you can start accepting payments in Bitcoin. More and more stores are accepting Bitcoin nowadays, it’s easy to setup and the number of sellers that implement Bitcoin is growing rapidly. You can buy almost anything with Bitcoin- cars, web hosting, travel arrangements, real estates and many other goods, products and services.
For people who already sell something, accepting payments in Bitcoin or other crypto can be the easiest route to start using Bitcoin.
Once received, you can exchange the earned Bitcoin for fiat money, hold it or use it to buy something else. Accepting payments in Bitcoin can also be much faster and hassle free than your usual checkout process, especially for payments outside of your borders.
#4- Complete tasks for others
The rise of Bitcoin have given another version of task completion websites. Not much new when it comes to those type of websites, except some of them now pay you in Bitcoin or other crypto.
- BTCClicks – One of the PPC pioneers in the crypto world. If you’re not already familiar with the PPC concept, it boils down to watching or clicking on ads and earning a revenue for doing so. There is also a referral system, so every time someone sign ups over your link- you get a revenue for that as well. The concept is fairly old, and BTCClicks reinvents the wheel by paying in BTC- which I like :)
- Earn.com -Earn bitcoin by replying to emails and completing tasks. Keep the money, or donate it to charity.
- BitcoinGet.com -Earn bitcoin by taking surveys, completing jobs, and much more.
- Cointiply – Get free coins, complete offers, watch videos, take survey and many other.
- XBTFreelancer – Work on projects and get paid in Bitcoin.
#5- Bitcoin gambling
Definitely not suitable for everyone, Bitcoin casino is also one of the ways to earn Bitcoin. As every other industry, the gambling one is catching up with the crypto revolution. More and more casinos and betting sites are accepting Bitcoin, and there are also new ones made to work with crypto only.
If this sparks your interest, check this Bitcoin Casino List. It is the most up to date list of casinos that accept Bitcoin, split across many subcategories like faucets, roulette, slots, dice, sport betting and many others. Besides that, it will also show you where you can get the biggest bonus or free spins, so definitely check it out if you’re into gambling.
#6- Earn interest on your BTC or other crypto assets
Earning an interest rate on your crypto is one of the best ways to put your money into action. I’m using BlockFi, which offers a 6.2% APY per year, which is a great percentage for those with higher capital. Unlike other methods, this one requires only capital. Once you invest it, you wait a year or few, and watch your crypto balance growing. 6.2% may not seem very promising at first, but the compound effect is what makes it so lucrative in the long run. For example, 6.2% over 10 years ends up being more than 82%.
Another option to consider are the crypto funds, like Crypto Index for example. Unlike the fixed interest as with BlockFi, Crypto Index works different. They monitor and use around top 30 best performing cryptos, rebalancing their portfolio every two months and trying to make as much profit as possible.
The risk with index funds exists the same as in any other market and investing strategy. However, the index funds have proved as fairly profitable, and are usually a much better solution for new investors than investing themselves.
#7- Earn Bitcoin with affiliate marketing
Like in many other industries, affiliate marketing with crypto is pretty popular and can yield great profits. The most beautiful of all- when done properly, affiliate marketing is a win-win situation. Providers get customers, customers get the best service, and you get the reward from connecting the two. The affiliate marketing can be found on Bitcoin exchanges and trading platforms, bitcoin mining software providers and many other who offer services related to Bitcoin and other crypto. The more you invest in the research and presentation of best tools for your customers- the more you will earn in the long run.
#8- Become a writer
When there is a hype and money in the industry, many new positions open. One of the lucrative jobs at the moment can be to research and write articles on Bitcoin, Blockchain and other cryptocurrency. Since the topic is pretty popular right now, you can either open your own website or apply for a job at some Bitcoin news or education hub. Considering how fast the things are moving, the world is lacking good Bitcoin writers at the moment, which I personally witnessed when trying to outsource some of the topics that I’d like to cover.
Final words on earning Bitcoin
As you just learned, there are quite a few ways to get in touch with some Bitcoin. Some of the ways are extremely simple(like PPC campaigns that pay in Bitcoin), while others can be risky(like gambling and trading) and/or time consuming(like freelancing or writing for BTC).
The usual rule comes into play- the more and smarter you work- the more you can earn. Hope this text gave you some ideas on how to earn your first Bitcoin, or at least a portion of it ;)