You will be happy to know that there are quite a number of innovative and new ways to earn Bitcoins online. This guide to making money with Bitcoin is written to guide you in the right direction so you do not waste your time following bad ideas. One thing you must first realize that there is no such thing as free Bitcoins or getting something for nothing. When earning Bitcoins, there is always a cost involved and although it doesn’t have to be money, it may call something else such as your time, viewing ads, giving your email address, or some other type of trade-off.
The good news is that earning Bitcoins online can be very lucrative ranging from a minimal effort to attaining a certain level of knowledge and expertise that brings in a steady stream of Bitcoins each month. If you are interested in earning Bitcoins online, here are a range of options to choose from starting with the easiest and least paying to the more difficult and highly lucrative roles in the Bitcoin world.
This is by far one of the easiest but also least-paying ways to earn Bitcoin online. It is also very easy to get started although these sites usually take up a lot of your time and usually pay an extremely small amount of Bitcoin. Websites that fall into the microearning category are usually those that pay Bitcoin for visiting a specific website or viewing advertisements. Others pay Bitcoin for completing small tasks.
Here are the most popular forms of micro earning Bitcoin sites:
Paid-to-Click (PTC) Websites
PTC sites give you a small amount Bitcoin for visiting websites and viewing ads. You have to do a bit of research to find out which PTC site is the most popular since many of them disappear without any warning or notice. Research is also important because many PTC sites have turned out to be scams in the past so you really have to take time to find out which ones are reputable and worthy of your time.
Usually, these types of sites will allow users to choose ads that are viewed or a specific amount of time: 5 seconds, 10 seconds, 30 seconds, and so on, with a small amount of Bitcoin being awarded for each ad that is viewed. For most PTC sites, if you spend time viewing all day, you will probably make less than $10 a day; so this option may not be worth the time and effort.
Although it is possible to run your own Bitcoin faucet which can be a lot more profitable, using one does not pay a lot of money. Bitcoin faucets are websites to=hat give you a small amount of Bitcoin, usually in the form of Satoshis (the smallest unit of Bitcoin currency or 0.00000001 BTC). These faucets pay money by allowing advertisers to place ads on their websites pay individuals who visit the ads or complete surveys. To make money, many users now use it Bitcoin faucet rotator that allows users to quickly move from one faucet to another and earn a commission through rotation links for each faucet that is visited. However, faucets are quite similar to PTC sites, and even the highest paying faucets will only allow you to make $1 or $2 a day for 24 hours of work.
You may be familiar with micro job sites like Fiverr or Amazon Mturk. These sites pay you for doing small tasks once they are completed such as testing out a new website or posting an ad on Facebook. While these micro job sites pay in other currency forms, there are others that pay specifically in BTC. One of the most popular ones is Coinworker, which pays in small amounts of Bitcoin after completing a task. These types of sites usually pay a bit more than PTC or faucet websites.
Bitcoin Gambling and Games
There are several people out there who boast about Bitcoin earnings that are made from gambling websites that accept Bitcoin. While some of these stories are true, many others have lost their money through gambling websites. If you’re interested in earning a steady income every month, gambling with Bitcoin should not be an option.
On the other hand, some Bitcoin faucet sites allow you to play free games and actually pay out a small amount of Bitcoin that you can transfer to your wallet. However, the amounts that are paid are usually low and not worth the time spent to earn it when you can spend your time focusing on more lucrative ways to earn Bitcoin. Anyone can get lucky once in a while, but gambling and games should not be an option if you are looking to make money with Bitcoins over the long term. However, if you want to have a little fun, there are sites where you can play and earn small amounts of Bitcoin payouts like luckygames.io or bitgames.io.
Writing About Bitcoin
If you have good writing ability and enthusiasm about cryptic currency industry, you can earn a lucrative amount of Bitcoin and make a nice income depending on where you choose to write.
BitcoinTalk Forum Signature Campaigns
The BitcoinTalk Forum is a site that runs signature campaigns which means when you become a member of this site, you can use your BitcoinTalk signature to advertise a Bitcoin product through a series of posts and get paid every time you write. However, only full members get paid a substantial amount money, and you will need at least 120 posts that are approved by the site before you are considered a full member.
Once you become a full member, you can start earning .0005 BTC per post. There are also other requirements such as the number of posts you must make in a week, posts must include 60 or more characters, among other requirements. Overall, this method for earning Bitcoin may be worth your time ($50-$100 for 24 hours of work) if you are willing to put in the hours and the number of required posts each week.
Blogs and News Sites
The potential to earn a decent amount of money begins to rise when you seek out opportunities to write for blogs and news sites. However, your knowledge about Bitcoin will also have to be at a higher level to correspond with the requirements that writing clients often have two complete writing assignments. If you have a high level of understanding about different Bitcoin and cryptic currency subjects, there are literally a limitless number of options that are available to you, and you can be paid between $25 – $100 per 1000 words. Coinality is a website that specializes in jobs writing about Bitcoin online, and there are others as well.
This form of marketing allows you to get paid a certain percentage of commission if you can bring in for referrals for an existing Bitcoin business. This is an excellent addition to choosing the writing option especially if you have a successful blog or website that has a steady amount of traffic. Operating an affiliate program can potentially bring in an unlimited amount of traffic to your blog or website is visited by people who link to your affiliate and purchase products that are offered.
The great thing about affiliate marketing is that once you have set up a blog post or even a video that generates a referral, you can basically let it go on autopilot and watch your payouts come in if you are getting a decent amount of traffic. There is a huge range of affiliate marketing opportunities out there with Bitcoin, and you can quickly get started right away with minimal investment since all you need is a blog, website, or video post to get started.
Take a look at these bitcoin affiliate programs to get some ideas as to what schemes you can sign up to.
Provide Bitcoin-Related Services
If you are more of a technical person, Bitcoin-related services fall under a very broad category and include almost anything you can think of that someone would pay for in relation to Bitcoin. Once again, Coinality is a excellent website to visit since this site offers various types of jobs related to Bitcoin and includes several opportunities to get involved in cryptocurrency development projects.
Many of the companies that are offering jobs are startups with limited infrastructure and need contractors who can work remotely. These jobs range from short-term to full time and include roles such as web developers, software developers, online marketers, mining experts, and many more. Another good place to look for the site of jobs is Upwork and the services thread on BitCoinTalk.
If you’ve already saved up a decent amount of Bitcoin and you want to increase its value, Bitcoin lending is an option you may want to consider. As a Bitcoin lender, you work through an intermediary such as Bitbond where you act as a bank and lend your Bitcoin’s to another person at an agreed level of interest. Since the cryptocurrency market is unregulated, the levels of interest on loans given are usually much higher than what is offered at most conventional banks. As a result, you have the potential to make very high earnings.
At the same time, there is also a significant risk since there is no regulation of the transaction. This means that borrower does not pay the Bitcoin back to you, you may not be able to recover your losses because there is little recourse available to force the borrower to pay you back unregulated market. With this earning strategy, it is essential to choose your lending projects wisely and learn from others personal experience to determine the right lending project for you.
If you want to consider Bitcoin lending, the three main sites you should check out are:
HYIP and Other Bitcoin Investment Sites
High Yield Investment Programs, known as HYIPS, are almost always some type of scam. You will find hundreds of these websites online, and they all claim that they can multiply your Bitcoins and give you extremely high daily interest rates on your Bitcoins with massive payouts and other bells and whistles.
If you do your own research, you will find it many people get scammed and conned by the sites every day, and many of them are Ponzi schemes that may actually pay out; but they pay out the old members using the deposits from new members in this type of scam will continue until the owner of the site decides to completely disappear and take off with all of your money. It is extremely important that you avoid these types because you will lose your Bitcoins.
Mining Bitcoins requires using specific computer programs and using the processing power of your computer to mine new coins. In the beginning, miners were able to mine thousands and thousands of Bitcoin with very little investment, and these are often the people you hear about today who gained a massive amount of wealth when the price of Bitcoin skyrocketed. This was also during the time when Bitcoin had very little value, and it took several years before those miners saw an increase in the value of their coins
Nowadays, Bitcoin mining is a lot more difficult, requires more processing power, and cannot be done without specialized equipment. Furthermore, Bitcoin mining consumes a lot of power – an extremely large amount of power – so the costs of the electricity used to power the equipment you would need to accomplish Bitcoin mining is quite expensive. Most Bitcoin mining has been taken over by companies make a profit by purchasing processing hardware at a discount locating themselves to places where electricity is extremely cheap like China or Iceland.
More recently, people who want to invest in Bitcoin mining without hassle of managing their own hardware have switched to cloud mining. Cloud mining is a process of buying CPU power from dedicated data centers which use its own equipment to mine cryptocurrencies. The main advantage of cloud mining is that you do not have to purchase or own any of the mining hardware or hard-to-obtain/expensive devices associated with Bitcoin mining.
In addition, you do not need any in-depth knowledge of mining hardware which makes this a more feasible option for the average Bitcoin investor. This option simply involves renting hash power, which is usually in the form of GH/s (Gigahertz per second), and watching your account go to work with little to no maintenance involved. Most cloud mining companies offer various packages that require an initial investment to get your miner up and running in you can choose to mine several other types of cryptocurrencies in addition to Bitcoin.
A few reputable cloud mining companies to consider are:
In terms of alternative mining options, there are many other currencies or “alt-coins” to consider mining such as:
Just like Bitcoin investment sites, you should also be aware that there are a number of scam mining websites and many of them are also Ponzi schemes. Some websites like BTCMiner and others pose as mining pools and offer their free mining software with the promise of mining 40 satoshi per minute and profiting .0006 BTC per day. Most of these sites are scams, and it is not recommended that you invest any money into these sites.
Some free mining sites like Minerfarm actually do pay a small amount of Bitcoin, but this is not a feasible option for earning an income or making any serious money with Bitcoins because the payout is extremely low unless you invest more money to upgrade your miner. You can invest more money into Minerfarm to increase the GH/s and create more mining power on this site, but it has not yet been proven to be a reliable site to earn and profit from mining Bitcoin.
Bitcoin Trading and Investing
Just like trading in other financial markets, it takes the right level of expertise and knowledge about the Bitcoin market to make a decent amount of money. You should also be aware that the cryptocurrency market has a history of being extremely volatile and is not suitable for every type of trader. However, there are many forms of Bitcoin trading that are available to you, and as long as you own your own Bitcoin, these platforms are accessible to you.
Nowadays, there are many Bitcoin trading platform to choose from such as CEX or Coinbase. These sites allow you to purchase cryptocurrency by debit or credit card or bank transfer. Once your transfer has been received, you can trade in Bitcoin or whatever crypto currents you choose.
Here are some trading options to consider:
Bitcoin Day Trading
If you think the price of Bitcoin is going to go up or down, you can buy and sell Bitcoin’s on the same day. This is a way to make money on the basis of small, short-term price fluctuations in the buying and selling price of Bitcoin. For example if you think the price of Bitcoin will go up, then you can buy some Bitcoin’s and then sell them off after the price has risen to make profit. In order to be successful in actual Bitcoin day trading, you have to buy and sell your own Bitcoins.
Bitcoin Binary Options
This is a form of trading where you predict whether the price of BTC will increase or fall within a certain period of time. If you are correct, you will earn a profit. However, if you are incorrect, you will lose the Bitcoin you invested. Some people consider binary options a risky gamble because the outcome is either you win more Bitcoins or lose everything.
This option is similar to day trading but you do not have to buy any Bitcoins. Instead, you buy Bitcoin CFDs through a broker such as AvaTrade or plus500. The idea behind this type of investment is that you buy a contract for the asset instead of buying the actual asset itself (Bitcoin), and then selling it later. This option also eliminates the hassle of having to actually hold and keep the Bitcoin’s yourself. Many investors consider this a profitable option and CFDs can also be offered for short sell means that you can make a profit when the price of Bitcoin goes down.
Open a Faucet/Rotator
Since you already know about Bitcoin faucets, it is possible to make money with Bitcoin’s by opening your own Bitcoin faucet. It is a lot easier than it sounds and doesn’t require any coding experience. However, faucets do require a lot of maintenance in order to make sure that you continue getting traffic to your faucet. Nonetheless, people do make money from Bitcoin faucets either by trying to teach people about Bitcoin or leading traffic to Bitcoin sites through these faucets.
Rotator sites are also popular because they allow you to quickly move from one faucet to another without opening a new site or tab. Referral links are included in each faucet, so the owner of the rotator site gets a commission from each faucet that is visited. Just like owning a faucet, rotators require a lot of maintenance and you have to check it daily since many Bitcoin faucets come and go in you will have to update your rotator constantly to generate a decent income.
Get Your Salary in Bitcoin
One other option to make money with Bitcoin’s is to use a company called Bitwage to get your employee salary in Bitcoin. This company supplies a bank account in any country for workers who receive wages and business disbursements from the US, UK, or EU. Once these funds are received by Bitwage, it will pay them out to you in Bitcoin. You can also choose to only have part of your salary in Bitcoin and the rest in a different currency.
Start Making Money With Bitcoin Today
one important thing to remember is there is no such thing as free Bitcoin’s and you always have to give something in order to get Bitcoin’s in return – whether it’s time, money, or some other type of effort. If you want to generate a high income with Bitcoins, it will take a lot of effort on your part since there is no such thing as easy money. Follow one of the many options listed here and you can start making money with Bitcoin day and even earn a massive income.