Is your current employer not paying you enough? Are you looking to make extra money? Then Bitcoin is the way to go. But the thing is, how to make money using Bitcoin? There is a common misconception among the general public that the only way to make money through bitcoins is either investing in “all-digital currency” or mining. While in reality, there are several other methods that can be used to generate money through bitcoins. Let’s take a look at some of the best ways to do so.
Bitcoin faucets are one of the top ways to generate money. You can make around $100 to over $800 using Bitcoin faucets per month.
What happens in Bitcoin faucets is that you pay out a small Bitcoin amount to your users but gain much more in return by posting ads on your site.
Learn more about how to generate bitcoins
Setting Up Your Own Bitcoin Information Website:
This method is often overlooked. Mainly due to the time period it takes to set up a website. Most people aren’t aware of the importance of setting up a “Bitcoin information website”. Having a personal website that explains the basics of Bitcoin to new users can be extremely rewarding.
The primary way to make money through a website is ads. The more traffic you attract, the more advertisement your website will grab, hence more income.
There are several websites that pay their users for completing simple tasks. However, it requires a bit of your time.
As the best way to earn from a website is interacting with ads, most site owners pay their users to visit those ads and complete certain tasks, such as:
- Clicking ads
- Feeding aliens
- Killing animals
- Watching videos
Warning: Some websites may infect your system with malware or viruses. Make sure you have a reliable antivirus product protecting you from these threats.
Make Cash Through Writing:
The internet is filled with numerous websites, forums, and blogs. These platforms often pay their users to promote the services/products they provide. All you have to do is to make some blog posts or write promotional articles for them. Some will pay you in cash, others in bitcoins. Both methods are great to generate extra cash.
Pro Tip: Gear up your English skills as most writing opportunities are in English.
Sell Your Products And Services:
Another easiest way to get Bitcoin is selling your products/services. Bitcoin is also a form of currency and you can grow your account by accepting the payment in bitcoins. There are several websites that accept Bitcoin as a form of payment. Overstock.com is one of the leading names to do so.
The most common way to earn Bitcoin is by selling goods and services in exchange. Two well-known sites to sell products are bitify and purse.io.
Bitify: Bitify offers the escrow service and buyer have to pay 1% fee on it, on the other hand, escrow service is optional for the buyer. Whereas, the seller has to pay 2.5% on total sale price and 1.5% on the premium advertisement.
Purse.io: individuals with Amazon have the option to sell products at discounted rates.
Furthermore, you can also earn Bitcoin by providing freelancer services.
Investing In Bitcoin:
The last point of our list of how to make money through Bitcoin is taking a dive into Bitcoin investment. Investing in Bitcoin is one of the safest options as they are always growing in value. Back in November, bitcoins were selling for around $250. As of now, their value has jumped up to $500. Almost doubled their value
Buying and holding Bitcoins:
When you start earning Bitcoin, you need a wallet to start transactions by receiving and buying the Bitcoins. A large number of platforms like Coinbase or Blockhain.info provides such kind of services. These two are most used platforms among users with online and mobile version. You have the option of cold storage such as Trezor to keep your Bitcoin save in cold storage.
Once you acquire a wallet, you have complete authority to establish multiple addresses, which allows you to do transactions and receive Bitcoins. In addition, no need to put your real-life address because Bitcoin acts anonymously. And, related transactions can be viewed on Blockchain.
Bitcoin mining is quite complex as compared to buying and holding Bitcoins. So, it is not suggested to newbies. In this process, expensive machine and electricity are used to solve mathematical algorithm to get a reward of Bitcoins. where Bitcoin miners empower Bitcoin transactions by sharing their processing power. This is Bitcoin mining. It is totally up to you to mine individually or join a mining a pool such as Antpool, BTCC, SlushPool respectively. Whereas, in a mining pool, miners share their hashing power with each other to solve the blocks and divide reward equally. It is depending on the investing percentage of each person.
Bitcoin cloud mining:
Bitcoin cloud mining is basically, the process of mining Bitcoin by using remote data center with shared processing power. This process facilitates individuals to carry out their mining without managing the mining hardware.
It allows you to earn Bitcoin without any mining activity. Though, the cost of cloud mining will have a prominent effect on bottom line.
Genesis mining is the most reputable could mining. This mining is the best option if you want to take part in Bitcoin revolution at low cost. In addition, if you are looking for the profitable investment you need to buy cryptocurrency or get engaged with peer-to-peer Bitcoin lending.
Completing microtasks for Bitcoin:
You have the option to earn Bitcoin by completing micro-tasks on following platforms;
A smartphone app offers you the reward of Bitcoin by completing small tasks such as watching promotional videos, filling out surveys and testing apps.
You can earn Bitcoin by watching videos, downloading and testing app or by filling out surveys and other small tasks as well.
This platform allows you to earn Bitcoin by playing games, downloading smartphone apps and by completing online promotional offers.
Day- trading Bitcoin for a profit:
If you are used to financial market’s trend and regular online trade then Day-trading Bitcoin will provide you the same opportunity to earn Bitcoin.
First and foremost trading strategy is, you buy the goods at the low rate and sell them at a higher price. whereas, in the case of the Bitcoin, if you want a successful trade, you need to Keenly observe the market trends, price dynamics and news as well.
Become a market maker on Localbitcoins.com:
Through individual trades, you have the ability to trade Bitcoin for fiat currencies. A large number of users are comfortable with this platform because it provides fast and easy payment procedure. You can sell your Bitcoin on Localbitcoins by following ways,
First, sign up with Localbitcoin
Second, you have to create Bitcoin advertisement. While you make an advertisement, you need to include payment method, set price limits and terms of trade.
Third, you need to reload your wallet for the customer to be able to access the trade request.
Fourth, once buyer open the trade, an amount will be transferred to escrow automatically.
Fifth, when a buyer makes payment and clicks the button Mark payment complete, you will receive the message of trade completion.
Sixth, on the confirmation of payment, Bitcoins release to buyer’s Localbitcoin wallet.
Last, you have to leave feedback message for the buyer.
Bitcoin’s Bid/offer price is varying from country to country. You have the ability to make money as the market maker on Local Bitcoin if you are making the market in less saturated Bitcoin markets.
Online Bitcoin Casinos Gambling:
If you want to make money through casino gambling and earn in Bitcoin, there is a large number of Bitcoin Casino and gambling sites are available such as Starcoin, Crypto Games, BetKing, and vDice.
Investing in Peer-to-peer loans:
You have the option to generate outstanding returns by investing in peer to peer lending through well-reputed sites such as Bitbond.
Peer-to-peer lending is a process by which an individual is enabled to get the loan on low transaction fees. Because of price fluctuations, you get an excellent return on your loans.
One thing you have to keep in your mind, expand your risk capabilities by lending to borrowers.
Goodluck with your earnings