Bitcoin has had its ups and downs recently, but people are still eager to earn them any way they can. From its historic peak in 2017, when it was valued at $19,783.06, bitcoin plummeted to $13,800 just days later and continued to slide down to $6,300 in October of 2018.
Today, it is hovering around $8,000, seemingly stabile. Although it is a far cry from its glory days, there is still a lot of money to be made in bitcoin and people are taking up positions hoping for another surge. Here are some ways you can join them.
Many people claim that mining for bitcoin isn’t viable anymore. While it is true that the golden days of mining are behind us, you can still earn some money from it. If you don’t want to invest in specialized mining rigs, you can do it on any computer you have at home.
Sign up for one of several platforms, download their app and you are set. The results may be disappointing, especially if you are expecting a massive windfall, but you will definitely earn some bitcoin. Hopefully, after you pay your electricity bill, you may even get to keep some.
This is one of the cheapest and simplest ways of earning bitcoin. Basically, it involves doing small gigs and receiving bitcoin as payments. This will be fractions of a coin since these jobs aren’t that well paid to begin with.
Instead, you rely on volume. Doing several of these minor tasks each day won’t take up much of your time, but it will land you a decent amount of coins in your wallet. The key here is consistency and long-term dedication. The downside is that this method requires a lot of time and effort Upside is that it is almost risk-free.
Gambling in Bitcoin Casinos
A recent addition to the world of online gambling are bitcoin casinos. Not much to be said about them, they function like regular casinos, just the payments are in crypto coins.
Most modern online casino set they payments to the players at 95% of deposits these days, so it won’t take too much luck to actually see a profit. Just make sure that you choose reputable sites for your gambling.
Become A Crypto Trader
This is a completely opposite way of earning bitcoin from microtransactions. Crypto traders deal with large amounts of coins on a daily basis, looking to improve their profit margins. Not all of them started that way, though.
It is possible to start crypto trading without having to mortgage your house, but it will be harder. Keep in mind that this isn’t a matter of luck, but rather of preparation. Successful traders spend huge amounts of their time educating themselves and reading about topics that may cause market fluctuations.
That is why they are able to predict which way the market will go and make corresponding investments.
Cashbacks are a popular way credit cards companies use to entice people to use their services. Some companies are offering similar rewards, only in bitcoin.
Since you will probably spend your money on online purchases anyway, you might as well get some coins out of it. The amount of cashback varies and in some stores, it can be as high as 9%.
Bitcoin Affiliate Programs
Bitcoin Affiliate Programs are often overlooked method of earning bitcoin. Many cryptocurrency exchanges have these programs, aimed at increasing their popularity and attracting new users. They work just like any other affiliate programs, the only difference is that you get paid in coins. Promoting your affiliate link functions the same.
You can do it either through your site or run a campaign on social media. There are plenty of these bitcoin affiliate pragmas around. Some of them are highly profitable, especially those run by newer exchanges looking to breakthrough. Some of the most successful sites writing about cryptocurrencies started like that.
The programs vary significantly, as do the rewards. For some, each new customer that signs up and deposits at least $100 will earn you a commission of $10. Others will pay you up to 40% of the commission they charge to clients brought in via your referral. Some even offer a percentage of interest your referrals earn. For more information visit bitcoin-profitapp.com.
Bitcoin lending platforms are a relatively new development in the world of cryptocurrencies and finance. They function similar to banks. People can visit them to get loans, unencumbered by waiting lines or in need of quick cash injection.
Banks usually take a few days to process these loans, but on the bitcoin lending platform, deals can be done in minutes. The funding from these loans comes from people willing to risk their stash of bitcoin for a high interest rate, often reaching 15%.
The trouble with this is that there aren’t that many trustworthy platforms around and a vast majority of those loans never get repaid. Until some regulation is introduced, this remains one of the riskiest things you can do to earn bitcoin.
Paid to Click Sites
Paid to click sites are nothing new, as they have been around for a while. Just like several other options on our list, they have been adapted to make payments strictly in bitcoin.
PTC bitcoin sites offer a small amount of coin for every click you perform. Another option if watching videos of different lengths. Keep in mind that this is a very slow process and it will take you some time before making some real cash.
Not everyone can afford to dump a truckload of money into crypto and wait for the next bubble, that is why we focused on ways of earning bitcoin that don’t require a lot of capital to start. Some of them are riskier than others.
The general rule is that the less risk is involved, the more work you have to put in to see any return. It is up to you to set a limit for yourself. The truth is that there is no magic way that will earn you a fortune in bitcoin overnight. You just have to be patient and don’t let slow progress discourage you.