How to Get Started Earning Bitcoin
1. Get a Bitcoin Wallet
To start earning crypto online, you first need a Bitcoin wallet. These wallets are like a debit card for bitcoin and come in different varieties (online, software application, mobile app, and hardware — Read more about wallets in our crypto wallets section).
One easy way to get a wallet is to sign up with a reputable and secure exchange for Bitcoin. We recommend a Coinbase account because it’s user-friendly and the government ensures savings similarly to a bank account. Other popular wallet apps are listed below.
NOTE: For long-term bitcoin storage we recommend hardware wallets like the Ledger Nano S as they’re the safest option.
2. Work for Bitcoin
Use one of the various methods of earning bitcoin mentioned in this guide to generate some income. There’s a good list of bitcoin earning apps and sites in the next section. Once you have accrued enough bitcoin to be worthwhile sending to your wallet move on to the next step.
Note that bitcoin transaction fees can wipe out your earnings if you try sending over too little an amount. They’re usually low, about a dollar, but during periods of serious network congestion they can get really expensive, like $20 or more.
3. Copy and Paste Bitcoin Address
Copy your current Bitcoin address from your bitcoin wallet (e.g. Coinbase). NOTE: Make certain to copy that address using Ctrl+C (Windows) or Command+C (Mac) because any error made in transcribing the address can result in you losing your bitcoin!
Paste the Bitcoin address where you’re asked to provide it by whoever is paying you for your services.
4. Wait for Transaction to Clear
Wait until your transaction clears. This can take minutes or several hours depending on the Bitcoin network congestion (and it can get costly as well, depending on how busy the network is).
Top Bitcoin Wallet Apps
Coinbase – Coinbase has a unique advantages that the online wallet is accessible from both your mobile and computer. Additionally, you don’t need to stress about any phone-related issues as the bitcoin is stored securely on the app’s platform. Coinbase supports Ethereum and Litecoin as well.
Bread – This mobile wallet is a favourite for many iOS users. The app is very lightweight and focuses on three parameters: easy usage, safety, and value. Bread offers one-tap payments on the web or personally, and provides users with a recovery phrase if you lose access. The app acts directly on the Bitcoin network meaning there are no additional costs or fees. It has also recently added the option of buying Bitcoin directly in the United States.
Airbitz – Airbitz is one of the top iOS apps in the digital marketplace today. It provides an integrated buying and selling solution for users in the US and Canada. The app offers an innovative feature of being able to pay via Bluetooth. The app is compatible with various wallets and provides robust security. You can also find Bitcoin-friendly companies through its built-in directory.
Copay – This online wallet has been developed by the reputable Bitpay. It has multiple features and is compatible with various languages and wallets. Also, it allows more than one user to access the wallet, just like a joint checking account. This feature sets Copay apart from many similar apps.
Blockchain – Blockchain is free and convenient to use across various iOS devices such as iPhone, iPad, etc. The app has fundamental features which include PIN security and support for QR codes. It provides exchange rates for many fiat currencies so that you can keep track of your spending and you can customize your wallet balance to Bitcoin.
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