Bitcoin is a decentralized, peer to peer, digital currency. It can be sent from person to another without having to go through a clearing house. Since the currency is not monitored or regulated, the transaction fees are extremely low. And this is the main reason as to why the use of Bitcoin is increasing each day and people are making a lot of money online through cryptocurrency.
If you are also fascinated by Bitcoin and want to learn about how to make money online using bitcoins, you have come to the right place.
Here we have discussed some ways that will help you earn money online using digital currency. Give each a solid read.
Ways to Make Money Online Through Bitcoin:
What are Bitcoin faucets? These are websites/apps that dole out the reward in the form of satoshi: hundredth of a millionth BTC. The reward is distributed among those who complete a specific task given by a faucet.
Once you get used to the faucet system, it becomes more like an addicting game. So it turns out to be a great way to make money while having fun solving CAPTCHAs.
One of the easiest ways to earn Bitcoin online is using bots that automatically trade bitcoins for users. These bots work 24 hours a day and 7 days a week which is quite remarkable, especially for beginners as they lack the expertise of trading coins.
The most common way of Affiliate Bitcoining is to set up your own website and offer tutorials about bitcoins for a formal fee. The paramount advantage of having a personal website is that it attracts several advertisement agencies to place ads; which is a great way to make online money.
Mining is the main source of generating bitcoins. In bitcoin mining, multiple miners connect with each other to form a pool – also known as bitcoin mining pool. These miners then work on solving blocks. Once a block is solved, the pool members receive their reward in the form of bitcoin.
Since the bitcoin is treated as a currency, loaning your coins is a great way to generate large sums of money.
These are some proven ways to make money online through bitcoins. However, there are always some security risks involved in online money generating techniques, and bitcoin is no exception.
There are a couple of things that you should be aware of, such as websites that ask for plugin additions on your system. It’s a huge red flag. Steer clear of such websites. It could be a trick to steal your information which ultimately puts you at the risk of theft.
These are some simple ways to make money online using bitcoins. Although they seem pretty simple and straightforward, you will need time to get used to it. Moreover, there are some risks involved – such as information stealing websites. So you will need to be extremely careful to avoid being another name on the victim list of Bitcoin scams.
Bitcoin is cryptocurrency that came into circulation just a few years ago. Some critics call Bitcoin unsafe to trade form of currency due to the facts that it has no authentic value, can be used to make illegal transactions and there is no regulatory authority to keep it under control.
Despite above-mentioned concerns, the interest in bitcoin from different corporations keeps growing each day. Let’s take a look at some of the good reason as to why using Bitcoin value is a good idea.
GOOD REASONS TO USE BITCOIN:
How to use Bitcoin?
Payments Are Quick:
The transactions made through banks or wire transfer are often slow and take several days to complete. On the other hand, Bitcoin transactions are instantaneous and take seconds to a few minutes to complete.
Usually, Bitcoin transactions are categorized into two types: zero confirmation and the transaction in which the merchant needs approval.
Zero confirmation transactions complete within a few seconds. However, the transaction with merchant’s approval may take up to 10-15 minutes to complete; which is still pretty quick compared to traditional transactions.
When it comes to making quick transactions, one might say “credit/debit card transactions are also quick, so why use Bitcoin?”
The answer is that to buy bitcoins with credit/debit card charge a certain fee for using this service. On the other hand, Bitcoin transactions are quick and charges involved are extremely low.
No Chargeback Frauds:
With bitcoins, the sender cannot reclaim the coins without the consent of recipient which ultimately eliminates the chargeback fraud – a fraud which is pretty common for credit/debit card users.
What happens in this fraud is that people purchase an item and if it turns out to be defective, they get in touch with credit card agency and ask for a chargeback, which effectively reverses the transaction.
Personal Details Safety:
Credit card numbers are always at the risk of getting stolen during an online transaction. On the other hand, Bitcoin transitions are theft-proof. All that is needed to complete a transaction is to match Bitcoin key with your private key and you are good to go.
Bitcoin Is Not Inflationary:
Whenever the economy is sputtering, the government prints new currency and injects it into the economy to strengthen it. The approach results in inflation. However, such is not the case with Bitcoin. The currency is finite and designed to reach no more than 21 million coins before the year 2140.
This means the more people use this currency, the more it appreciates in value.
These are some major reasons as to why you should use bitcoins value 2017 instead of credit/debit card to trade. Some more reasons to justify the bitcoin usage are:
- All transactions are stored in a ledger called “Blockchain”. The ledger can be accessed by anyone, keeping the transactions transparent.
- Micropayment like 22 cents are free
- Numerous major corporations like Reddit, Pizza Chains, Bank of England and Fed, WordPress, etc. are now accepting bitcoin payments.
In conclusion, bitcoin is extremely secure compared to traditional currency. The use of Bitcoin is increasing each day and it’s pretty safe to say that future belongs to Bitcoin – the most popular digital currency out there.
Buying Bitcoin can be tricky at times, especially when doing it through PayPal. This is because PayPal is credit while Bitcoin is more like cash. In the event someone buys Bitcoin and later decides to dispute the sale, PayPal will have no way of knowing if the transaction actually happened, resulting in the reversal of transaction. So, the company is always super cautious towards making Bitcoin transactions and doesn’t allow any coins for PayPal credit.
But don’t worry. We are living in 2017 – the age of the internet. There is always a way to do something indirectly if there isn’t a direct way to do it.
In this post, we have discussed some tips and tricks that will help you exchange Bitcoin with PayPal credit.
Give each a solid read.
Trading SLL (Second Life Lindens):
This one is quite tricky. More like a workaround. In this method, instead of transferring bitcoins through PayPal which is not allowed, you will be buying a different cryptocurrency, one that is allowed, and then trade it for Bitcoin.
One of those currencies is Second Life Lindens (SLL), which can easily be bought through a website called Virvox via PayPal credit. Once you have SLL, your next move should be going to an SLL/BTC exchange and exchanging it for Bitcoin.
Here are the steps involved in the process:
- Go to Virvox and open an account.
- Deposit money in your account with PayPal.
- Buy SLL.
- Exchange it for Bitcoin.
- Withdraw your bitcoins.
The only downside of this method is that it’s slow and involves higher fees.
Buying Through Local Bitcoins:
Local Bitcoins is another option that can help you buy Bitcoin with PayPal credit. The website allows you to buy cryptocurrency from a local seller or an online vendor. But since you will be paying in PayPal credit, you can get in touch with vendors from all over the world.
However, when dealing with someone on Local Bitcoins, make sure you understand their policy and are ready to comply. Some sellers are overly strict and may end up turning into an ordeal for you.
Pro Tip: Always buy coins from an experienced and a well-reputed seller on Local Bitcoins.
PayPal Debit Card Holders Can Also Use This Method:
The US residents can easily issue themselves a PayPal debit card. The card makes it extremely easy to buy Bitcoin with PayPal on lower fees. To get the card, all you need to do is go, open an account on Circle and make sure that your debit card is connected to your profile.
From now on, every time you buy Bitcoin, the charges will be deducted from your PayPal credit.
Lastly – Don’t Let Yourself Become a Victim of Scams:
These three are the best options to buy Bitcoin with PayPal. Although you will come across many other sites claiming to be selling Bitcoin with PayPal, most of them are scams. Beware of them and stay safe. Good luck!
Salesforce is a world famous company well known for its cloud computing software. It provides services related to customer relationship management in various industries, including healthcare, finance, media, retail, and manufacturing. The revenue generated by Salesforce in the year ending January 31st was $10.5 billion. And now Salesforce is ready for its blockchain integration with a brand new idea.
Parker Harris, the co-founder of cloud software giant Salesforce has confirmed that his company is hoping to develop a product for Blockchain and cryptocurrency support by September 2018.
The same news was being disclosed by CEO of Salesforce Marc Benioff in an interview with Business Insider on March 28. In that interview he also stated that he had finalised this plan to work on Blockchain technology and various forms of digital currency while he had a chance to participate in the World Economic Forum Davos, Switzerland last January. It was simultaneously being held with a cryptocurrency conference, where Benioff’s conversation with another event attendee transformed into the above mentioned idea according to which Salesforce could actively participate in the utilization of blockchain and cryptocurrency into its current operation.
He further added that he had been thinking about various ways through which Salesforce’s strategy around blockchain and cryptocurrencies could be finalized.
What is in Benioff’s Mind?
There were a lot of things which the company CEO did not reveal about his forthcoming product in his interview. However, he stated that he was planning to have a blockchain and cryptocurrency solution for Salesforce and for all its clients.
However, in a recent briefing for its Configure-Price-Quote (CPQ) software, the company appreciated the revolutionary blockchain technology for verification and maintenance contracts and automation of trust.
Salesforce is not Alone in this Race
In the past Blockchain was just used as a decentralized ledger to log all cryptocurrency transactions, but now its definition has changed. Now a great number of applications and technologies have a strong connection with it. In the present context, blockchain keeps or is used to keep record of every digital transaction and exchange which might be in the form of goods, services or private data of any sort. With the passage of time it has been transformed into a global spreadsheet running simultaneously on millions of computers around the globe. The beauty of this technology is that every single individual connected to this peer-to-peer system can see all transactions being made, hence there is no need for a middle man.
It is clear that the involvement of Blockchain technology is getting deeper and deeper day by day and no field of life will be functional without it.
Zero-commission startup exchange, Robinhood has announced its expansion in Colorado through social media giant, Twitter. According to Robinhood, the trading platform is going to provide a commission-free trading for top-cryptocurrencies in the western state, i.e. Bitcoin and Ethereum.
Colorado is best known for its blockchain-friendly legislation and ‘rocky mountain peaks’ has joined with few states, including;
Response from Twitter Followers
After this announcement on Twitter, a flurry of responses started out, as many requested the trading platform to add Litecoin and plead to expand into other states as well, like; Florida and Texas. According to Robinhood, you can expand the list by asking your friends to join the exchange as well. However, some twitter followers in the states say – where Robinhood cryptocurrency has rolled out, that they are stuck on a waiting list.
Zero-fee exchange gains depend on the footholds in the US. If we talk about New York, the Attorney General of New York, Eric Schneiderman is in a bid for better transparency and has contracted with over dozen crypto exchanges with information requests. The expansion was quite enough to send the leading cryptocurrencies’ prices decline a little bit, however, they rallied later.
Gemini, which is a digital assets exchange and is run by the Winklevoss twins, is also ready to comply. However, others find the request quite insolent. Winklevoss twins (Cameron and Tyler Winklevoss) are leading a self-regulatory group as well for better practices in the crypto industry.
Robinhood didn’t specify whether it is going to support altcoins beyond Bitcoin and Ethereum but it does propose a market data for numerous altcoins. As the exchange is quite famous amid millennials, it is estimated to have the worth of almost $5.6 billion instantly from its latest. Although Robinhood is introducing a zero-fee crypto trading, it provides a premium account under the name Robinhood Gold as well.