You want to make a bit more money – yeah, who doesn’t? – and maybe cryptocurrencies appeal to you.
If you know anything about bitcoin you’ll know that there are many different ways in which you can make money from it. You might’ve heard about bitcoin trading, but that’s just the tip of the iceberg, and it’s also very risky so it’s not for everyone.
How can you earn bitcoin without taking large risks?
There’s a range of options at your disposal. These include participating in activities such as micro earnings, but on the other side of the spectrum there are activities that require a bit more effort to coin it.
So, with that in mind let’s look at how you can make money with bitcoin in unique and creative ways. We’ll start with a super-easy and convenient way to earn more bitcoins.
If you’d like to see a graphical breakdown of ways to make money with bitcoin, we got you covered:
Share This Image On Your Site
<p><strong>Please include attribution to CoinTippy.com with this graphic.</strong><br /><br /><a href=’https://cointippy.com/make-money-with-bitcoin/’><img src=’https://cointippy.com/wp-content/uploads/2020/06/Make-Money-With-Bitcoin.jpg’ alt=’Make Money With Bitcoin’ width=’780px’ border=’0′ /></a></p>
- 1 Use The Internet With Brave
- 2 Earn Bitcoin When You Shop Online
- 3 Make Use Of Bitcoin Faucets
- 4 Join Bitcoin Airdrops
- 5 Make Use Of “HODL”
- 6 Write About Bitcoin
- 7 Become A Bitcoin Affiliate
- 8 Sell Products Or Services
- 9 Deposit Your Bitcoins
- 10 Gamble With Bitcoin
- 11 Invest In Bitcoin Companies
- 12 Potential Risks Of Passive Income From Bitcoin
- 13 You’re Probably Not Going To Get Rich From Bitcoin
- 14 Related Questions
- 15 Conclusion
Use The Internet With Brave
This is a really easy way to start making some coins. In case you don’t already know, Brave is an internet browser. If you choose to see ads on Brave, you’ll get paid by viewing them. It’s that simple.
While you’ll only be able to earn Basic Attention Tokens (BATs) with Brave, you can then switch these into bitcoins on Coinbase. Alternatively, you could sell your BATs for fiat.
When you surf the web with Brave and view Brave ads, you get 70 percent of the ad revenue for your efforts. This is an easy way to start earning more tokens, especially if you use the web a lot.
Earn Bitcoin When You Shop Online
You know how you can earn cash by shopping online?
Well, you can also earn bitcoin for doing this activity. Lolli is a company that enables you to buy items on sites such as CVS and Sephora and then you’ll receive a cash-back in bitcoin!
The amounts that you’ll get vary. What’s so great about this is that you’ll be able to earn bitcoin while doing your usual online shopping. Why not earn money while spending it?
Make Use Of Bitcoin Faucets
What are bitcoin faucets, you ask?
They’re basically websites where you can answer surveys. How they produce money is via the ads that are on their web pages. Many faucet websites make use of the Pay To Click (PTC) strategy. If you visit a bitcoin faucet and answer some short questions, you’ll be paid.
This is known as “micro working,” and the benefit is that there are a variety of ways in which you can earn coins, such as by watching a YouTube video or playing a game – it’s not just about answering surveys.
An example of such a site that offers these opportunities is Bitcoinget that will pay you 20,000 satoshis (which is the smallest unit of bitcoin cryptocurrency) for tasks. This translates into just under $2.00 for every task you complete.
You have to be willing to put in time to make money and you can’t expect to earn a lot, but if you’re dedicated it could add up. For example, watching ads for a full hour will earn you between $0.05 and $0.40.
Join Bitcoin Airdrops
Another interesting way to make money with micro tasks is by making use of bitcoin airdrops. How it works is that some projects will distribute free bitcoins through airdrops, such as when they conduct promotional campaigns.
Of course, nothing’s completely free so you’ll have to complete a small task in order to receive cryptocurrencies for it. These tasks will usually be about creating more interest in certain companies, so they might involve you sharing a post to your social media followers, for example..
One of the best things you can do if you’re interested in bitcoin airdrops is to join Airdrop Alert.
Here you’ll get information on the latest and most trusted crypto airdrops that have been validated by the site’s team, therefore taking the stress out of trying to find airdrops yourself or worrying that the ones you’ve find aren’t legit.
Make Use Of “HODL”
In cryptocurrency, HODL stands for Hold On for Dear Life. It refers to purchasing bitcoins, stashing them in a wallet to keep them secure, and then waiting for when the bitcoin value starts to increase.
When it does, you can sell your bitcoin and make a profit. In order to do this, you need to be informed about, and regularly analyze, the market to ensure that you’re making moves at the right times so that you make a profit.
While this is exciting, it’s not for a beginner. You’ll need to have some market knowledge and bitcoin experience in order to make the most of it, but it’s definitely something to work towards once you’ve notched up some experience.
Write About Bitcoin
You don’t have to be a bitcoin expert to take part in this, You just need to make use of bitcointalk. This is a forum that was established by Satoshi Nakamoto (the person who created bitcoin) and it’s used by millions of people.
By posting on the form regularly, this will bolster your authority and give your posts a sponsored signature. This means that sponsors will pay you for your posts. How much?
If you’re a full member on the forum, you can earn around 0.0003 bitcoin for every post you write.
However, there are some important things to bear in mind. You have to post a minimum of 120 posts before you can be considered a full member. There are also limits on posts, such as when it comes to their length.
Become A Bitcoin Affiliate
You’ve probably heard about affiliate marketing. This is when a company pays you commission for producing a sales lead for its product. You can set up a bitcoin affiliate business to generate this type of passive income.
How it works is that you’ll sign up for the affiliate program, listing yourself as an affiliate marketer, then you’ll receive a URL that takes you to a product or service.
You’ll share this link with your followers on social media or website, and whenever someone clicks on that link from your platform and purchases the product, you’ll receive a percentage of the money.
You can find some valuable bitcoin affiliate websites. An example is Currency.com. Here, members receive 50 percent of the revenue from new people they bring into the program.
Alternatively, sign up with Coinbase and you’ll receive $10 whenever a customer signs up and deposits a minimum amount of $100. Binance is also a site worth mentioning here because it gives up to 40 percent of the transaction fee of your referrals.
Of course, the best way to make the most of bitcoin affiliate marketing is to ensure that you have a large following on social media so that you can improve your chances of earning bitcoins in this way.
Sell Products Or Services
The bitcoin forum also offers other opportunities to help you make money. One of these is a range of services that you can provide in order to get paid in bitcoin. This is a fantastic way to earn some coins while making use of your skills.
You could, for instance, develop a website or market an online product. The amount of effort you’ll need to put in and how much you can earn both vary with this one, but it’s worth a shot, especially if you’re good at the service you’re providing.
To help you get started, check out these other links:
- Angel’s List – here the job board offers crypto projects that you can take.
- Reddit – you can easily find tasks that are paid for in bitcoin on this job board.
- Crypto jobs – if you’re a freelancer who wants to be paid in crypto for your work, this site is definitely worth checking out.
Deposit Your Bitcoins
You can earn bitcoins by lending them. Now, there are different ways in which you can lend bitcoins. A good one is direct lending. This is when you lend bitcoins to people you know.
Another method you can try is making use of a website which becomes like a bank. How it works is that you earn an interest rate for making bitcoin deposits.
One site worth checking out in this regard is BlockFi. How it works is that you earn up to six percent interest for bitcoins. There’s also a 4.5 percent interest rate for borrowers, which is beneficial to you as a lender because it encourages people to borrow.
Best of all, you can lend bitcoins without having to deposit a certain amount and you’ll receive monthly interest payments.
Another platform worth checking out is YouHodler. It has a bitcoin interest rate of 4.8 percent for lenders, and there are flexible payment types, such as credit card as well as bank withdrawals.
Gamble With Bitcoin
If you’re just starting out in the world of cryptocurrencies, you might want to hold off giving this a try until you’re more knowledgeable about bitcoin. But for more advanced users, gambling bitcoin can help to increase their revenue.
It’s good to know that gambling with bitcoin works in the same way as gambling on traditional sites. Check out websites such as Bitstarz, which is a bitcoin casino that’s a major player in the bitcoin gambling business.
Bonus: If you’re interested in gambling with bitcoin, you can make the most out of your cryptocurrency exchange. For example, once you’re set up with a cryptocurrency exchange such as Coinbase, some gambling sites, such as Black Chip Poker and SportsBettingAG will convert your incoming bitcoins into USD.
Invest In Bitcoin Companies
When you hear “invest in bitcoin,” chances are the first thing you think of is that you’re going to be purchasing coins and then selling them.
But there’s a whole world of investing out there that offers many different opportunities. For example, you could invest your bitcoin in start-ups and blockchain development.
In fact, start-ups that are based on blockchain are popular. You have to do your homework to find out what the next big start-up is but it’s worth it – by investing in a start-up, this could accumulate lots of money.
Not sure where to start?
Find companies that deal with bitcoin so that you can learn more about them, such as what their goals and worth ethics are to find the best fit for you.
Potential Risks Of Passive Income From Bitcoin
Many of the ways to make money with bitcoin that we outlined in this article are basically passive income. However, this term can be misleading.
Passive income refers to earning money without much effort required on your part, yet even passive income methods sometimes require you to put in effort in order to earn coins. The more effort you make, the more money you can earn, after all!
There are also some risks to be aware of when using these so-called “passive” methods of earning coins.
- Lockup periods when lending coins can be problematic. This is something that’s important to bear in mind if you’re interested in depositing or lending your bitcoins. Some lending methods might force you to keep your funds locked away for a certain amount of time, which means that your holdings will be illiquid and this risks you becoming vulnerable to an event that could lower the asset price.
- You could put in a lot of effort and not make a lot of money. It’s worth bearing in mind that you could try really hard to make money from passive income streams but find that it just doesn’t work. It’s therefore good to begin with a modest approach to it and then try different methods of earning more coins instead of thinking that one strategy will work perfectly.
- In other instances, passive income can put you in the backseat when earning money. In the same way that you can’t control the campaigns for which you’re earning airdrop coins, you can’t control the company that’s in charge of the affiliate marketing program to which you’ve signed up. You’re basically dependent on the company’s regulations and need to follow their conditions. While this might not be a problem for you, it can become taxing over time.
However, the great thing about finding creative and unique ways to earn bitcoin is that you can choose the strategies that make the most sense for you and can make you put in less effort.
For example, if you already participate in crypto forums, writing about bitcoin will be an easier way to get paid in this way than if you had to start from scratch.
Similarly, if you purchase goods online, making use of certain websites can help you add more bitcoins to your wallet – without you needing to make large changes to the way you shop.
So, that’s the bottom line when finding unusual and creative ways to make money with bitcoin: focus on the method that suits you the most and you’re more likely to put in less effort while raking in more coins.
You’re Probably Not Going To Get Rich From Bitcoin
Although it’s appealing to think that you could become a millionaire from bitcoin, it’s important to bear in mind that this is unrealistic.
Bitinfo reports that there are 75 percent of bitcoin addresses that contain less than 0.01 bitcoin in them, and a whopping 97.54 percent of addresses have a balance of less than one bitcoin.
That said, there’s no harm in trying to make extra cash from bitcoin as well as diversify your income streams, as long as you don’t lose your head.
Is bitcoin very risky?
Bitcoin is considered high risk, thanks to its volatile nature. This is why it’s best not to store your funds in bitcoin if you can’t afford to lose them and you should use bitcoin as your second stream of income, not your primary way of earning money.
How can you convert your bitcoins into dollars?
Start by choosing a respected bitcoin marketplace service, one that ideally has low fees. After you create an account on the service and deposit your funds, you can wait for when the exchange rate is favourable and convert your bitcoins into fiat.
There are many different ways in which you can make the most of bitcoin. In this article we’ve outlined some of the more creative ways in which to earn some coins, from airdropping coins to buying items online and receiving cash-back rewards.
The benefit of many of these strategies is that they can be easily incorporated into your lifestyle, such as if you’re already a freelancer and want to supplement your income by getting paid in bitcoins for your skills.
While you might not become a bitcoin billionaire, you can certainly try your hand at increasing your income streams and getting paid in digital currency for your hard work.
Last Updated on July 7, 2020 by Eito