Even 10 years ago, many could not believe that an unknown cryptocurrency based on the blockchain would become the most popular and liquid digital currency in the world. In the entire history of its existence, Bitcoin has established itself as a strong investment asset, therefore, there are more and more people who want to earn bitcoin.
Many people think that in order to earn Bitcoin, you must have an impressive initial capital, although in reality this is not so. In this article, we will present the most popular ways to earn Bitcoin for different goals and opportunities.
A small check list, ho to start earning on bitcoin:
Choose a way to make money.It is necessary to acquire equipment or skills.Start making money.
But before you begin, you need to decide whether you are ready to invest personal funds in this process. Depending on the answer, all methods of earning can be divided into 2 groups:
Next, we’ll take a closer look at each group, but before we begin, we would like to note that in order to earn bitcoin, in any case, you will need to invest. It is about time and energy that will need to be spent to earn such desired coins.
If you are new to the cryptocurrency community, we recommend that you first pay attention to how to make bitcoin without investing personal funds. Nevertheless, these are less risky ways to help you look into the world of digital coins, deal with the specifics of the market and find like-minded people.
Bitcoin faucets are probably the most famous way to easily earn bitcoin without investing a cent. Cryptocurrency faucets are called sites and applications, that pay users to watch ads, videos, take surveys or perform other basic tasks.
It is worth noting that such services do not pay in bitcoins, but in Satoshi – this is one hundred millionth part of Bitcoin (1 Satoshi = 0, 000000001 BTC).
The number of completed tasks is limited by the rule – you can take to complete each new task after a certain amount of time (depending on the conditions of a particular resource, on average every 15 minutes). Therefore, you should not count on making big profits from Bitcoin faucets, but they may well work as an additional source of replenishment of your wallet.
To start earning bitcoin on faucets, you need to perform a few simple steps:
On the Internet you can find a lot of portals that allow you to earn Bitcoin in this way, but the most popular Bitcoin faucets are FreeBitcoin, Moon Bitcoin, Cointiply, BonusBitcoin and others.
Advantages: no investments needed, very simple tasks.
Disadvantages: scanty profit.
Freelancing is gaining momentum now, therefore, as with standard labor exchanges, there are platforms on the market, who post vacancies for employers willing to pay for your work in cryptocurrency.
At such sites, you can find work for different qualifications, but most often there are requests for technical work. In addition, cryptocurrency can be obtained for writing content, web design, programming, video editing, etc. Employers also offer different terms of cooperation – both one-time tasks and full-time employment.
But the most popular platforms that post jobs with payment in Bitcoin are:
Those who at least once encountered freelance sites will find it very easy to understand the principles of interaction between the customer and the contractor, since the scheme of crypto-portals is similar. It is important to register on the portal, make an attractive profile with a description of your skills continue to earn a rating by qualitatively fulfilling the tasks of customers.
Advantages: the ability to get a permanent job.
Disadvantages: the risk of fraud is not excluded.
With the growing popularity of cryptocurrencies, experts in the field of blockchain development are becoming more and more in demand. Of course, unlike the above methods of earning bitcoin, this method will be much more complicated.
Not everyone can become such an expert. To become a qualified blockchain developer, you will need programming skills, knowledge of mathematics, cryptography.
If you already have these skills, you can be sure that your job opportunities are almost endless. Blockchain technology is now being implemented in almost all areas of modern life, and each blockchain development requires an expert who will maintain its performance and, if necessary, implement updates. At the moment, the sector a little competition, therefore, the demand for your profession will only grow.
Blockchain developers do not earn mini-fees. Given the narrow specialization and unique knowledge, their earnings are impressive – from $ 7,000 to $ 25,000 per month. Therefore, if you seriously think about making money in Bitcoin and you have the necessary knowledge, this method is perfect.
Advantages: the ability to earn large amounts.
Disadvantages: special skills and knowledge in the field of cryptography are needed.
If you are well aware of the nuances of investing in bitcoin, or you know how to properly set up mining equipment, assemble a home farm and so on — all this is valuable information for which users are willing to pay money.
At the moment, selling their knowledge is almost the most effective way to make money online. Someone creates online courses, someone maintains a blog on social networks or develops a YouTube channel.
You can post cryptocurrency content on your own site and earn money by viewing ads. This will help you register on the Bit Media service. This service will pay you Bitcoin for clicks on the advertising posts posted on your site. This service will pay you Bitcoin for clicks on the advertising posts posted on your site.
Online courses are also very popular. Subjects can be varied, from the basics and principles of blockchain technology to the complex process of collecting a mining farm at home. Online courses will help you promote the Udemy portal, where you can post training materials and set your own price on them.
Advantages: obtaining real income, the possibility of self-realization.
Disadvantages: time spent on the development of unique materials.
If you decide to play big and get the maximum profit, we suggest you use these methods of making Bitcoin:
Consider each of the ways to make money in more detail.
This is probably the most famous and common method of mining cryptocurrency, but at the same time the most expensive.
Bitcoin mining is the use of computing power to generate blocks in a blockchain network. For each generated block, the miner receives a reward of 12.5 BTC.
The number of blocks that can be generated depends on the power of the equipment.
We would like to note that with the increase in the number of miners, the complexity of the bitcoin network and the complexity of the process of mining coins and, accordingly, earning on bitcoin with the help of mining is complicated every year.
If a few years ago it was possible to mine bitcoin using a home PC, today you can not do without special mining devices. From purchases of powerful graphics cards and processors, miners switched to using more powerful ASIC devices.
Mining equipment costs a lot of money. The price of mining devices reaches tens of thousands of dollars. In addition, be prepared for impressive electricity bills.
Therefore, before starting mining, make a list of expenses for organizing and maintaining this process and, based on the results, draw a conclusion will it be effective or not.
In order to make it easier to determine the effectiveness of the selected device for mining, you can use the Bitcoin Mining Calculator portal. The portal provides an opportunity to calculate approximate efficiency from mining, having previously indicated the technical characteristics of mining equipment.
Among other things, to increase the efficiency of mining, participants in the crypto community are forced to combine their resources for mining cryptocurrency with other miners. Such communities are called mining pools. All remuneration is divided between the pool participants in proportion to the provided capacities.
At the moment, the official Bitcoin website offers miners to use p2pool and Multipool.us pools, but besides these, there are many other services that you can use.
For those who are not ready to invest large sums in mining equipment, cloud mining of bitcoins was created.
Currently, the largest cloud mining companies Genesis Mining and Hashing24 are the most popular. These companies give you the opportunity to use their mining equipment on your behalf, and in return take a certain percentage of the profits.
The terms for concluding such contracts vary from a few hours to several years.
Recently, cases of comparing cloud mining with a HYIP project (MMM type pyramid) have become more frequent. There are also often cases of fraud in this sector, so always use only proven services in order to earn bitcoin.
It’s worth noting that cloud mining will come out more expensive than the use of personal capacities, but if you do not want to bother and deal with the installation of equipment and software settings – this way is for you.
Advantages: the opportunity to make big profits.
Disadvantages: high cost, risk of cost recovery.
Bitcoin rate prone to frequent fluctuations, therefore, if you know how to work with charts, analyze the market situation and other important points, you can make good money on speculation.
The essence of the method is simple – buy cheaper, sell more expensive.
In order to start trading Bitcoin, you can choose any crypto exchange, but the most popular among investors are Exmo, Binance, BitMEX, and others.
To earn bitcoin on speculation, investors most often use the method of creating pending orders. This is a very convenient way not to miss the price of coins you need and timely buy / sell Bitcoin.
We will analyze the principle of operation of this method using an example. Suppose Bitcoin costs $ 8,000, and you are ready to buy it for $ 7,500. To do this, you need to create an order to buy Bitcoin and put it in the “queue”. At the moment when the coin rate drops to the desired indicator, the purchase will be completed without your participation in the automatic mode. The same thing happens with the sale - at the current rate of $ 8000, we set the sale for $ 8500 and wait until the rate reaches the desired level.
On the one hand, trading Bitcoin on the exchange is a fairly simple process, but in order to really make money on this, you need to have analytical skills and good instinct. No wonder at some point a separate profession was formed trader - This is painstaking work and round-the-clock analysis of market changes. With this in mind, this method of earning is more often used by pros.
If you are new to this business and still decide to try your hand, We advise you not to rush to invest large amounts due to the high risk of losing money. Alternatively, at the initial stages it is better to use the services of professional traders, who will help develop a strategy for trading coins for profit, and then you can already go on your own.
Advantages: the opportunity to earn without losing anything.
Disadvantages: special skills and knowledge are needed.
Investing in order to earn bitcoin is more suitable for those who do not expect quick profits, but are ready for long-term maximization of invested funds.
The traditional way to invest in bitcoin is to buy it and keep it at the most favorable price for you. Using this method, many have already managed to earn a fortune on Bitcoin. For example, those who bought Bitcoin in 2011 for $ 1 now have about $ 8,000, and those who invested $ 1,000 have about $ 8 million.
It is worth noting that there were precedents that influenced as a deterrent in the development of such a method of investing. News about hacker attacks and hacking of some exchanges and online wallets negatively affected the trust of users.
Now the security situation has improved, technologies are developing and are trying to maximally secure your assets. But for those who have long been in the Bitcoin community, as they say, the sediment remains.
Advantages: big profit in the long run.
Disadvantages: long-term expectation of profit, distrust of exchanges and wallets by users .
For experienced traders, there is another way to invest in Bitcoin - CFD trading.
CFD is a contract for the difference in the price of an asset. The asset in our case is Bitcoin. How it works?
The user makes a Bitcoin forecast regarding the change in the BTC rate – for an increase or decrease in the price. If the forecast is correct, you get the difference between the price of bitcoin at the time of opening and the price at the time of closing the transaction.
To make it clearer how this works, suppose that you are sure that Bitcoin will fall, therefore, you conclude a CFD contract for a drop in price. At the close of the transaction, Bitcoin fell by 5 points – this is your profit.
To start, you can use the services of brokers. One of these brokers is the Verum Option platform. Here you can trade not only Bitcoin contracts, but also in pairs with other cryptocurrencies. Earning bitcoins on CFDs can bring up to 500% profit, the minimum rate is $ 25.
Given the high level of volatility of the Bitcoin cryptocurrency, one can make good money on CFD contracts by making correct forecasts of the value change.
Advantages: a small amount of investment to start.
Disadvantages: need experience and market knowledge.
If you already have a large amount of Bitcoin and are looking for sources of passive income — this method will be a great option for you. As in the financial sector, in the digital world there is the concept of lending. In this case, the role of banks is played by private individuals who are ready to lend their coins at interest rates.
You can become a lender if you do not have initial capital, but then you need to pre-mine Bitcoin, buy or earn using any of the methods presented in this article.
You can find people who want to take coins on credit on special resources dedicated to Bitcoin lending. Among them are the services BTCJam, Bitbond and Loanbase. Typically, such services can earn from 10% or more of the amount invested.
The most popular among users is the Bitbond service, which offers investors to receive 13% per annum of the loan amount.
As always, the simplest and most profitable ways to generate income are usually the most risky. Most often, people need coins to implement Bitcoin projects, so you need to give their assets in debt wisely.
First of all, pay special attention to the service with which you plan to work. Please note that the service was not new and there were enough reviews on the Internet. Be wary of resources that offer revenue of 20% or more. Such a “sweet” offer may be a sign of fraud.
In addition, borrowers, whom you decide to lend Bitcoin, require special attention. Even though many online lending services help you mitigate the risk of defaults, carefully studying each borrower, you should remember that this is not a guarantee of the security of your assets. Business loans are always risky investments, therefore, carefully study the borrower and the intended purpose of the loan, finance only those you trust.
Advantages: the ability to combine with other ways of earning high interest rates.
Disadvantages: many risks associated with the non-return of invested funds.
And our video will help you become a real expert in making bitcoin :
In addition to the methods listed above, there are many other options to earn bitcoin and replenish your wallet with “digital gold”. As you have already seen, it’s quite possible to earn bitcoin, and for this it is not necessary to have initial capital.
Of course, not all methods allow you to quickly earn a large number of BTC, however, there are many options for investing and over time they will only expand. The main thing is always to make informed decisions about investing, take into account all risks and choose only proven sources of income.