Earning Bitcoin
As cryptocurrencies became widely popular, many websites started popping up with various ways to earn Bitcoin. But, let’s get down to brass tacks. The crypto-craze it’s over, and the days when you could get 10,000 BTC in exchange for two pizzas are gone. Nowadays, the amount of Bitcoin you earn depends on the risks you’re willing to take.
High-risk Ways to Earn Bitcoin
Bitcoin trading – Although placed in the high-risk part of this guide, experienced traders know how to mitigate risks through diversification, proper order setups, fundamental analysis, and conditionals. For the rest of us, trading is almost equal to gambling, mainly because we cannot foresee or understand market movements properly. Trading in itself is an art form that takes a lifetime of dedication to master. It’s a kind of psycho-economic warfare against ‘the market’. For every winner there’s a loser, and you will, for sure, find yourself at both ends of the spectrum.
Bitcoin lending – Owning bitcoin is a prerequisite for lending. If you want to increase the value of your portfolio, you can lend bitcoin to people, websites or any crypto-related project and have them returned with interest. In this way, you can manage higher interests and multiply your earnings. However, trust is a crucial element in bitcoin lending, so you’ll have to choose wisely or lose it all.
Medium-risk Ways to Earn Bitcoin
Mining – Bitcoin mining, the process through which transactions are verified on the blockchain (and new coin created) has shown to be profitable for many people over the years. The risk is that you will have an ever decreasing return on investment, due to the way the mining difficulty of the network is set up and the cost of the hardware that you’ll have to invest in to mine the coins.
Bitcoin affiliate marketing – If you have an advertising platform or a website with high and steady traffic you can advertise someone else’s crypto-related product (e.g. crypto exchange) and get a commission for it if they have such a program available. The risk is in going through the effort of building a site and promoting a product/service and then the market for that product/service changes dramatically or the company you’re promoting ends its affiliate program.
Low-risk Ways to Earn Bitcoin
Writing about BTC – While this requires time, knowledge and skill, it’s the most cost-effective way of earning bitcoin, because there are lots of websites that are in need of content written about bitcoin, some of which will pay in bitcoin. Usually, writers are in high demand, and the good quality ones can earn exceptionally well. Writing for a blog, or a website that is starting up can be hugely profitable for the capable writer, without any significant capital investment. However, mastering this niche is a gruesome and time-consuming process.
Provide bitcoin-related services – Provide services that people are willing to pay for in bitcoin. Most sought after positions are: blockchain developer, website content manager, graphic designer, mining expert, writer, social media manager, and advertising expert. However, the list doesn’t stop there: you can always get creative and offer something new to the market. Crypto-based marketplaces are everywhere, and you can easily get projects if you can add value to your client’s needs.
Bitcoin faucet – It’s a reward system for visiting a website or an app and watching ads or videos. Payout is minimal — typically 100 to 10,000 satoshis (0.000001 BTC). You can create your own faucet or rotator if your website or app has good traffic, and the main risk here is that you’ll waste a lot of time for relatively little coin.
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