You’ve probably heard of bitcoin before, (most likely on the news) but didn’t think too much of it. Would you change your mind if I told you that there were easy ways to earn bitcoins online, so easy that a baby could do it?
If you’re interested in earning bitcoin, you have to first understand what it is, exactly. I recommend that you check out my post here: What is bitcoin? In very simple terms, bitcoin is like cash, but an online currency. Asking how to earn bitcoin is like asking how to earn cash. I’m here to show you all the tips and tricks to help you make your very first bitcoin! This one guide will show you the best ways to earn bitcoin online, with easy to follow methods.
The first step is to actually create a bitcoin wallet. They are kind of like the PayPal for bitcoins, a program that stores your bitcoins, but it’s much easier to make an account. There are many bitcoin wallet providers, you can check them out on the bitcoin.org website. I recommend you start out with the blockchain.info wallet. I use a ledger and trezor wallet, which are hardware wallets, for extra security. These wallets are physical wallets that cost additional money, but you don’t have to worry about that right now.
Earn Bitcoins by Selling
Do you have useless stuff lying around? Instead of trying hopelessly to sell it on eBay, there are many alternative websites you can sell your stuff on, for better prices, and in bitcoin! Try making posts on Reddit bitcoin market, Bitcoin Forums, or other bitcoin communities with your WTS (Want to Sell) thread with pictures of your item(s) and a description.
Earn Bitcoin by Trading
There are many ways to trade with bitcoin: You can trade forex (foreign exchange, forex), or options (like stocks) with bitcoin, or bitcoin itself. For trading bitcoin itself, you need to buy and sell bitcoin at the low and high points. For example: You buy 1 bitcoin at $350 USD. A week later, it rises to $500 (which is very possible, because it has high volatility.) You sell your bitcoin at $500 for 1 bitcoin, which means that you made a profit of $150. It seems easy, but it takes a lot of analysing combined with luck in order to profit off this. With bitcoins, the risk when trading the currency is a lot higher.
You can also use brokers in order to do something called leveraged trading with bitcoin. A popular broker that accepts bitcoin is 1Broker. In trading, you can make buy and sell offers (also known as call or put) for currencies, assets, and stocks. With leveraged trading, the broker is able to match your investment/stake up to a certain % (AKA for currencies, the broker would multiply your investment by 100 times). This isn’t your money, so when you lose 1% of the total investment, the position is immediately liquidated, because the broker does not lose any of their money. Like trading the bitcoin currency, you must be analytical and lucky in order to profit. I would not recommend doing this unless you knew what you were doing, and how the stock market and forex market works.
Earn Bitcoins by posting on a forum
On bitcointalk.org, which is an online bitcoin forum, there are many companies that have signature campaigns. Basically, once you reach a certain member rank on this bitcoin forum, there will be companies that pay you in bitcoins if you put their ad in your forum “signature”. When you post with another company’s signature, they will pay you a certain amount of bitcoins. Please be careful to not spam the forum because that will have a huge negative impact on your account. Be sure to post on the forum out of passion and interest, not with the sole intent of earning money! That way, you can earn cash while learning!
Earn Bitcoins with GPT (Get Paid To)
There are more and more GPT (Get Paid To) sites that are offering bitcoins as a payment method. Basically, these sites pay users for completing simple tasks – like visiting a website, watching a video, signing up for a website, downloading an app, completing a survey, etc. Most of these sites don’t pay all that much – but if you use a couple of good sites with some referrals, you can make some decent cash. I would recommend:
Additionally, you could look for higher paying work (much higher) if you can complete a certain set of tasks that employers on the bitcointalk forum are looking for, or on other community forums, like Jobs4Bitcoin on reddit. Post your set of skills on these forums and see if anyone needs them. Many people pay for developing (apps), designing (logos, banners, websites), odd acts (funny ones), etc. Check the posted jobs frequently as for new ones always pop up!
Earn Bitcoins through Giveaways
Since bitcoin is still considered a very new currency, there are actually many giveaways that people conduct with free bitcoins as a prize. Although it’s not a very stable earning source, but there are sometimes $10 – $50 giveaways on the bitcointalk forum. Be sure not to spam and follow all the giveaway rules!
Earn Bitcoins with a website
It can be very easy to monetize your website with bitcoin ad networks, like Coinad or Bee-Ads. To create a website with quality content, you’ll need to do a lot of research in order to provide your audience with something useful. Not much to say here: creating a successful website is very hard, if you want to learn more, search it up on google.
Earn Bitcoins with Faucets
Bitcoin Faucets provide users with a very small amount of bitcoin for completing a simple task, like filling out a captcha. Don’t get too excited though, as for most of these faucets give out a fraction of a cent in bitcoin. However, if you have a lot of free time, and visit a lot of these sites regularly, you could build up a bitcoin balance. I don’t do this because I find that I don’t have enough time to spend for bitcoin collecting. You can check here for a list of bitcoin faucets.
Earn Bitcoins by Mining?
“Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.” – bitcoinmining.com.
Because of how popular bitcoin mining is, it’s very hard to earn anything from mining. There is specialized hardware that mine bitcoin, which cost in the thousands and have a slow and unpredictable ROI due to the fact that one earns less from mining as the popularity increases (AKA the increase of difficulty.) If you want to learn more about it, check out bitcoinmining.com.
Bitcoin is still considered a new innovation and many are still trying to acquire some. Well, the simplest way to do is to purchase them, as you would when you need another currency (e.g. CAD to USD currency conversion at your bank). While I’ve reviewed the basic ways to earn bitcoins online, just keep in mind that bitcoin is a form of currency, like cash… and the ways to earn bitcoin are like the ways to earn cash.
How did you like this blog post? Do you have any experiences of your own, or anything else that worked? Which one of these do you think is best? Please let us know in the comments!