People from all around the world are jamming to cryptocurrencies in order to earn a quick buck, especially on Bitcoin, which stands on top among thousands of cryptos in the market. Bitcoin is reputable for being the best performing coin in the crypto space for a while now. But earning from it does not work like magic— you can’t profit from it easily.
Like any other cryptocurrency out in the market, Bitcoin is not-risk free nor a way to earn enormous wealth in one snap.
Although trading and mining are the customary way people earn through Bitcoin, there are still more ways investors can explore to become rich through it. A hefty amount of money can’t fall into your hands overnight— well, unless you win a lottery— so you need to dedicate your time, effort, and money to make more money.
Here are the 11 ways you can make money through Bitcoin:
Micro Earnings
Though this is the most time-consuming way to earn money from Bitcoin, no one would disagree that this is one of the easiest and cheapest ways possible. You can make money through micro earning by basically doing small tasks, and you will earn coins for the time you spend.
There are Bitcoin faucet micro earning sites. These faucets are actually a subcategory of Pay-To-Click (PTC) websites. And by clicking on an ad or any button on the site to help the website’s owner profit from ad sales, you will also earn a few coins.
You’ll receive an average of $0.05- $0.40 every hour if you work non-stop clicking buttons. Micro earnings require a lot of effort yet delivers a very low income. This surely could make you some money without much risk, but it’s up to you to decide if a few cents are worth your time and electricity.
Owning Bitcoin Faucets
There’s no need for you to settle for a few cents from other’s faucets when you can make your own.
At present, it has become relatively facile to build cryptocurrency faucets. By building your own faucet, you could earn money from selling ads to your website. Depending on the traffic and advertisers you have, you could make up to $1000/month from running your own faucet. However, this would require a lot of your time and effort.
Aside from the big capital you need to fund the faucet, you will encounter hassles in building your own website, managing its users, and preventing fraud.
Even with great effort, owning a Bitcoin faucet may generate low to medium rewards while facing a medium amount of risk.
Signature Campaigns
In mid-2014, a famous Bitcoin forum called BitcoinTalk began running signature campaigns.
People can get paid for advertising products. Advertising is done by writing a post in the forum, including BitcoinTalk’s signature. The complete rundown of campaigns can be found on the forum.
The payment will be based on the individual’s level of membership on BitcoinTalk. Technically, users with a status lower than a “full member” won’t have the privilege to get paid big. If you plan to try out earning from signature campaigns on BitcoinTalk, you should at least have 120 posts under your name to qualify as a full member.
Bitcoin Trading
One of the fastest ways to earn through Bitcoin is by trading it on an exchange. You should buy Bitcoins while the price is low and put them up on sale when the price rises.
Trading is definitely not guesswork, and it requires so much time to study trading and strategies to be above the risks that are usually involved in trading. If you want to become a trader, make sure that you can sacrifice your time and money to invest in good education, which would take you to trading success in the future.
Bitcoin requires high effort, entails high risk, but yields high rewards.
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Affiliate Programs
Promoting through affiliate programs is often an overlooked way method to earn through Bitcoin.
A lot of Bitcoin products, services, and exchanges have an affiliate program in which you can enroll. After enrolling, you get an affiliate link that you can use to promote a certain product or service. Affiliates receive a commission if they bring in paying customers by the promotion they make.
Gambling
Gambling is a very obvious way to earn Bitcoins quickly.
There are several Bitcoin casinos out there where you can try out your luck, but before you jump into gambling, make sure that the casino you choose is provably fair. A provably fair casino will guide you on how to check the results of the game.
Choose a casino with enough house edge to generate profit to ensure players are legit and do not manipulate results.
Bitcoin Gambling requires minimal effort, generates high profit, but entails a very dangerous financial risk.
Crypto Blogging
The cryptocurrency industry is booming. Hence crypto blog owners need dozens of articles to be published every week. So if you’re confident that you have a knack for writing, crypto blogging might bring you a profitable revenue stream from the comfort of your own home.
You could try looking at “Jobs” in your favorite crypto publication to see if they are in need of writers. Emailing specific sites, you’d like to write for is also a good idea. There are also several international freelance marketplaces where you can create a writer profile to find jobs.
Crypto blogging entails low risk, yields medium profit, and requires minimum effort.
Crypto Services
Putting crypto blogging aside, there are several Bitcoin services out there that you can offer to other people, including web development, online marketing, etc. If you have no idea how you could fulfill these roles, there are tutorials on YouTube which you can watch from.
You might also be interested in: 6 Ways to Make Money From Celebrities Using Crypto
Bitcoin Mining
Bitcoin mining turned into more than just a hobby. As people get drawn to generating digital money from their computers, mining has become more of a profession.
Although this could make quite a lot of money, bitcoin mining uses too much electricity, requires extremely expensive pieces of equipment, hardware configuration knowledge, and physical space to actually place your miners.
Bitcoin Lending Platforms
Bitcoin Lending Platforms connect borrowers to cryptocurrency owners that lend their Bitcoin to earn interest. Lending is pretty risky, so these platforms ask for a pretty high-interest rate.
Though lending could be quite a profitable business, lenders are often left without their money because there’s really no collateral that holds the borrower liable for the loan.
Bitcoin lending is so risky to the point it’s not even worth considering.
Coin Doublers and High Yield Investment Programs
These are websites that claim to double your coins in two days or give you insanely high interest rates. However, platforms such as these use the money of new users to pay off old users. At a glance, this will seem legit because the site is really giving back money to users, but this is some sort of a Ponzi scheme.
The scheme would go on for 3-4 months until one day; the website would go offline, with investors’ money all gone. Any platform that makes a promise that is too good to denote true is just a front of frauds trying to get you into their trap.
Although there are many platforms out on the world wide web that seems legit, it is not advisable to go for coin doublers and investment programs.
