Many people want to own some Bitcoin. There are two ways to acquire it: to buy it or to earn it. Unfortunately, the former option is not always viable – you might have no money or no way to buy BTC in your country. This means that for some, the only option is earning Bitcoin. Here is how to do it.
Earn Bitcoin without investment
Do freelance work for BTC
Perhaps the most straightforward way to earn cryptocurrency is to do some work and get paid in Bitcoin or altcoins. The amount of jobs available steadily grows as more and more companies and individuals start to pay in cryptocurrency.
The most popular job offerings usually are in content creation (article writing, video editing) and programming (web design, backend programming) fields. If you have experience in these fields – congratulations, you have a great chance to find a job that pays in crypto! However, even if you don’t, chances are that you will still be able something – just know where to look.
Here is a list of job boards that pay in crypto:
- Crypto.jobs – possibly the largest job board that hires specialists for blockchain and cryptocurrency-related projects.
- r/Jobs4Bitcoins – a subreddit where anyone can post a service offer or request.
- BitcoinTalk Services Marketplace – a section of the largest Bitcoin forum worldwide dedicated to buying and selling services.
And some projects that pay for small tasks:
- Coinbase Earn – A Coinbase-owned platform which allows its users to earn BTC by replying to emails and completing tasks.
- Bitfortip – This platform allows users to post and solve small tasks for a BTC reward. Unfortunately, it doesn’t seem as active now as it was several years ago.
- Steady income once you find a suitable job
- High effort required
- May be hard to find a suitable job
If you are able to create interesting content but have no funds or technical knowledge to create your own website for scratch, you can still earn from it. All you need to do is to register on one of the crypto social networks. Here’s how it works.
Once you post a piece of content, any other user can upvote or downvote it. Usually, each upvote you earn grants you a tiny amount of cryptocurrency, which is normally accessible after a certain period of time. The most popular social network of this kind is Steemit. Other alternatives include Minds, Sapien and Voice, which is currently in beta.
Note: such social networks usually reward users with their own tokens which can be exchanged for Bitcoin only on certain cryptocurrency exchanges.
Here is a video that explains how Steemit works:
- A way to monetize content without creating a website
- Hard to gain following on the new platform
Get Bitcoin cashback
Several mobile apps and browser extensions are offering Bitcoin cashback. Each time you make a purchase in an online store that supports the cashback you get some Bitcoin. There are 2 most popular services of this kind:
- Lolli – a Chrome extension that works with more than 500 stores. The cashback amount varies depending on the store and can be either a set amount of BTC or a percentage of the product’s price.
- Pei – a similar cashback service that allows users to get cashback both on their bank account or credit card and as a BTC simultaneously. However, every user must connect their cards and/or bank account upon registration.
Tip: check the services every cashback supports to choose the best one.
- A great way to save money
- Not a way to actually earn cryptocurrency
- Some services require bank account or credit/debit cards to be connected
Earn Bitcoin with investment
Sell things for Bitcoins
Selling your own creations for Bitcoin is a great way to earn. Anything, from handmade jewelry to Raspberry Pi cases can be sold if there are interested buyers.
There are several ways to sell your products for cryptocurrencies. Perhaps the most expensive and difficult (but not too difficult) is to make a website and accept BTC payments via terminal, such as BitPay. Another, cheaper and easier option is to sell your product on a dedicated platform.
The most popular platforms to sell your creations for BTC are Etsy and Shopify. The difference between the two is that it is easier to get traction on Etsy, but Shopify can be more personalized. In other words, new brands should sell at Etsy, whereas brands with some amount of recognition can build a Shopify webstore.
- Low risk
- People should actually be interested in your products
Investment: 10 USD+
If you wish to earn some bitcoins while making the Bitcoin network more secure, mining might be the perfect option for you. All you have to do is to buy suitable equipment and set it up. You can find a guide on how to do it here. The mining itself is completely automatic once you’ve set everything up. If you want to learn more about Bitcoin mining process, you can read our ultimate guide.
But, just like always, there are some caveats. In the recent years, Bitcoin mining became very competitive. In order to actually make a profit, you have to buy expensive equipment – mining on laptop won’t cut it anymore. This kind of equipment can cost multiple thousands USD. What’s more, the fluctuating price of cryptocurrencies means that your profit might be inconsistent. If the price drops enough, your electricity bills will exceed earnings.
- It is possible to earn while securing Bitcoin network
- After the initial setup, almost no effort is needed
- Inconsistent profit
Investment: 1000 USD+
Open a cryptocurrency interest account
Traditional interest accounts, such as bank accounts, have existed for over 100 years. The idea is simple – you let the bank control your money and after a year the bank pays you the sum that is several percent bigger.
It is possible to do the same with cryptocurrency as well. A number of companies are ready to pay you interest rates for letting them use your cryptocurrency for some time. Here is how it works:
- A company receives your cryptocurrency.
- It lends it to some individual or business on condition that it pays X percent more upon returning.
- The company returns your cryptocurrency + a part of these X percent.
Here are the biggest providers of such services:
- Bitbond – accepts BTC. Offers the service for more than 2 years.
- BlockFi – accepts both BTC and ETH. A relatively new company in the growing cryptocurrency banking sector.
- A way to accumulate even more cryptocurrency
- Such services are still in their infancy, so using them might be risky
- Do we really need cryptocurrency banking?
Investment: 10 USD+
Gamble and play casino games
If you consider yourself an expert in sports, betting on the outcome of certain events can be a great way to earn bitcoins. Of course, you may also lose your holdings this way, so be responsible and never bet more than you can afford to lose.
Although extremely risky, playing games in online casinos can earn you some BTC as well. Bitcoin casinos offer the same games as other online casinos, such as different variations of blackjack and roulette. The only difference is that the payout and balance is in cryptocurrency, not fiat.
If you are going to try to win some bitcoins this way, make sure to check if the platform you are willing to make bets/play games on can be trusted. As a rule of thumb, it is better to avoid new platforms and stick to the ones with a good reputation.
- It is possible to earn bitcoins extremely quickly
- High risk involved
- High amount of websites with dubious reputation
Investment: 10 USD+
Trading cryptocurrencies is a good way to earn some extra Bitcoin or altcoins. How to do it? Theoretically, it’s quite simple:
- Sell coins, such as BTC, when their price is high
- Buy them again when their price is low
- Due to the price difference, you will be able to buy more coins (= profit)
- If you want to earn fiat, repeat step 1 once more
However, there is one big “but”. In order to consistently profit by using this scheme, a trader has to know how to minimize risks and what indicators to look at. This kind of knowledge can only be acquired after some kind of training and improved by the practice.
If a newbie starts trading without any training, chances are, he/she will quickly lose most of the portfolio. Whereas experienced traders look at indicators, making rational decisions, newbies are likely to follow their emotions, falling victim to FOMO.
If you do decide to trade, make sure to choose one of the trustworthy exchanges.
- It’s possible to earn a lot relatively quickly
- High risk involved
Investment: 10 USD+
Place ads on your website
If you have a blog or a website that offers some kind of service to the visitors, it might be a good idea to place ads on it to earn Bitcoin. There are various ad networks that pay you in BTC and other cryptocurrencies. However, make sure your website meets all the requirements of the ad network. For example, some networks only accept websites with high Alexa ranking.
Don’t have a website yet? That’s not a problem these days, if you are willing to dedicate your time and put some effort into creating one. Thanks to the content management systems such as WordPress and Joomla and drag-and-drop website builders, such as Elementor, a website can be built quickly. What’s more, no extensive technical knowledge is needed – just determination!
Of course, simply having a website with ads will bring you no money. In order to make BTC from ads your website should have enough daily unique visitors. What’s more, the visitors should be interested in the ads; otherwise, they won’t click on them and earn you bitcoins.
- High profitability
- Low risk once you have enough traffic
- High effort required
Investment: 100 USD+ if you don’t have a website
Of course, the options listed here are not the only ones. However, a big part of alternative ways to earn Bitcoin are not likely to be worth your time. Getting cryptocurrency from faucets is an example of such an option. You have to stay on the website in order to receive extremely small portions of BTC every 10, 30, etc. minutes. In USD equivalent, you will be earning just a few cents per hour. Is it worth it? You decide.
Frequently asked questions
Can I earn Bitcoin with captcha?
Most websites offering Bitcoin or any other cryptocurrency for solving captchas are scams. The ones that aren’t are usually paying ludicrously small amounts of money.
Is it possible to earn Bitcoin without mining?
Yes! Just like any fiat currency, Bitcoin can be earned in many different ways described in this article. Mining is just one of them.
Can Bitcoin earn interest?
Yes, it can. You can use one of the platforms listed here.
Are there any apps that can earn Bitcoin?
There are several ones. A great example is Coinbase Earn.
Where can I spend Bitcoin?
Once you have earned a certain amount of Bitcoin using the methods listed here, chances are that you may want to spend some of it. Luckily, cryptocurrencies can buy a lot of different products, such as groceries, electronics, plane tickets and furniture. Even the large companies are gradually adopting Bitcoin. Here’s the full list of 30+ companies that accept Bitcoin in 2019.
There are many options for earning Bitcoin and other cryptocurrencies. It doesn’t matter if you want to receive passive income or do not want to invest any money, you will still have options to choose from. Here are some tips to help you choose the suitable income source:
- Decide whether you want to take risks. The number of options will reduce if the answer is “no”.
- Think how much time and effort you are ready to dedicate.
- Make sure to understand what kind of money you will be able to receive for your work. For example, completing surveys for Bitcoin is not likely to become your main income.
- Always check the reputation of any service that you are going to use.
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