Everyday, Bitcoin the cryptocurrency and Bitcoin the technology gets
more popular. When in 2011 you had to write a person from the other
continent to order a pizza for you with Bitcoins, now you can do
something like that in a number of major cities. In some countries like
the Netherlands, the entire towns are Bitcoin-friendly (such as Arnhem,
often called ‘the Bitcoin city’) now with a range of services available
for those who are willing to pay with BTC. The more ways are there to
spend the cryptocurrency, the more ways are there to obtain them. Let us
look at some of the approaches to help you earn Bitcoins online.
1. Mine your own Bitcoins
The very first way to get your own Bitcoins was through mining. In
2009, every block mined (every 10 minutes on average) brought a reward
of 50 BTC to the lucky one who managed to solve the computational
problem. Right now and till 2016, every block brings 25 BTC. While the
reward is still luring, there are some issues which stand in the way of
earning some loot:
– The hashing difficulty has grown significantly over the last years.
No single equipment has enough computational power to compete for
Bitcoins.
– Mining has gotten unprofitable.
– In hope for some reward, people are forced to unite in pools or use cloud mining services.
– Even when the efforts are combined, there is still need to pay for the
electricity, and the utility bills often exceed the mining reward.
All these factors make Bitcoin mining these days unprofitable. This
makes us move forward to the next strategy of earning Bitcoins online.
2. Do work for Bitcoins
If mining is not for you, you can search for work that you can do for
Bitcoins. There are multiple services that will offer one an
opportunity to work for cryptocurrency. You can find something at
Coinality or by just going to /r/Jobs4Bitcoins on Reddit. Currently, you
can earn Bitcoins online as a freelancer mainly, but some Bitcoin
startups and companies like Overstock offer an option to get the regular
payment in BTC. With greater acceptance, there will be more options to
look for.
3. Offer something for Bitcoins
Another way to earn Bitcoins online is to sell something for crypto.
If you are keen on handmade, you can accept BTC on your ETSY page, and
if you are a merchant, you can use register with one of the Bitcoin
payment providers, such as BitPay. For more info on how to accept
Bitcoin,
4. Gambling and casino games
If you are searching for a simple way to earn Bitcoins online, you
may try gambling. However, while it might seem to you as easy money,
gaming has a number of risks which need to be taken into account. In the
following article, we have outlined for you some websites worth
checking out when trying out your luck:
We don’t guarantee that you win, which is why we strongly recommend you
to play only if you have some initial capital to spend. On the other
hand, who knows, maybe you will get lucky and multiply your crypto.
5. Use various Bitcoin faucets
We have already mentioned gambling and faucets in a
recent article.
What you need to know about Bitcoin faucets is that they allow you to
get a small amount of cryptocurrency in particular time spans. For
example, on many Bitcoin dice websites you can get 0.0001 BTC every 5
minutes. However, to get a new portion of satoshis, you need to have a
zero balance. There are other options too where you can earn ‘Bitcoin
dust’ for time spent on the website (for example, when playing games).
You cannot gain much here, but sometimes it can be enough to get a
feeling of owning some crypto.
6. Boost your trading skills
A good way to make an earning with Bitcoin and cryptocurrency in
general is to do it through trading. CEX.IO allows you buying Bitcoins
with payment cards or via bank transfer, after which you can convert it
to other crypto or fiat using the price volatility at your advantage.
Sometimes, however, Bitcoin trading
can be very similar to gambling – high risks are involved here too. In
order to minimise them, you need to learn a bit about trading. You may
follow our blog to get some trading tips. Meanwhile, you can start with
our 3 tips for profitable trading and then explore our trading category. Just start with a little amount, and when you feel more confident, you will be able to get to bigger earnings.
Earning Bitcoins online: Summary
There are quite a few ways to earn Bitcoins online, and they are all
different. Some of them, such as gambling, or trading, involve risks.
However, while in gambling everything depends mainly on luck, trading
requires some substantial knowledge. You can stay tuned for our tips on
how to not just earn your Bitcoins, but to multiply it.
Regardless of what strategy you choose, you still have to find a secure
place to buy, sell, and store your Bitcoins. CEX.IO has been a
well-known player on the Bitcoin market since 2013, offers a
user-friendly service for buying, selling, trading, and keeping Bitcoins
secure. None of its users has ever experienced account funds theft,
and, all in all, CEX.IO deserves to be one of the best Bitcoin services
known so far.
