CRYPTO 101: How To Earn Your Very Own Bitcoin

September 10, 2020

As of now, Bitcoin is the most valued digital currency in the world. It is expected that many people are looking to earn some. A while back, when it was first created, 1 BTC was worth $0. Moving forward today, Bitcoin’s progress has grown immensely. Bitcoin’s value is currently amounting to $10,294.28 per 1 Bitcoin, and its market cap is now nearing $200 billion. As an unpredictable coin, though, its price can skyrocket upward in a day or drop hundreds of dollars the next.

How can someone earn Bitcoin?

One can get a bitcoin by buying it straight from an exchange, but you can also earn it. Earning and believing are two different terms; to earn Bitcoin, you must perform a series of (commonly) digital tasks or jobs, and as a reward for this effort, Bitcoin is paid or earned. These are a few ways to do it…

Bitcoin Binary

This is a form of trade that is similar to gambling. Bitcoin binary options oblige a user to predict the rise or fall in the value of Bitcoin. Only two options are available, and one must choose the ‘rise’ or the ‘fall.’ If the prediction is correct, a profit will be earned. If it is incorrectly predicted, then the initial investment will be lost. This is very risky since Bitcoin is very unpredictable.

Loaning Money

Like how a fixed deposit scheme operates, a person can lend Bitcoin to others on a peer-to-peer Bitcoin lending platform. The 12-18% profit on the initial investment will be returned, together with the invested amount. This is the most popular and most accessible method for earning Bitcoin.

Earning from Jobs that Pay in Bitcoin

In several fields, bitcoin is the form of payment to their employees. There currently several jobs where one can earn Bitcoin for an employee’s service. For example, engineering, singing, writing, or translating. One can earn bitcoin right away, but one must know to look for the right place.

Helping Others

This can also be termed as freelancing. Several platforms are available that will allow users to ask questions and get answers from others. A reward that is fixed will be given to those who can answer the posted item. The other is necessary to find the answer. For example, Bitfortip is a platform via mobile and desktop where one can earn bitcoins. In this platform, the question can be posted and answered in 11 different languages.

Mining

To win Bitcoin, mining requires the “solving” of many computational problems to reveal a new batch of a prized asset. To generate a large sum of profits and achieve massive cooling, it is wise to build or purchase dedicated mining machines. AMD cards and NVidia GPU cards can be used for ‘at-home’ miners to give their computers a chance to mine successfully. Another more pocket-friendly option is joining a mining pool. Mining pools are the computational power of miners combined to solve cryptographic puzzles to earn bitcoin.

Playing Games or Bitcoin Faucets

Many gaming platforms allow someone to earn bitcoin by playing their games. These games are called Bitcoin Faucets. These websites make their money from advertising revenues on the site, and visitors gain Bitcoin by playing games on their site. Investing here is not required. The amount that can be earned is minimal, but it is a fun alternative to pass the time and achieve something while doing it. One popular platform for Bitcoin faucet is the Coinbrawl.

Others

Other websites offer Bitcoin if they are visited and watch a video or advertisement, for example:

  • Ads4btc – A visitor earns up to 1000 Satoshi (the bitcoin unit is expressed) per click.
  • CoinWorker – A guest must sign up and answer specific investigative questions or perform other tasks as well. The pay-out is expressively higher, though when compared to ads4btc.
  • Com – is a website that pays its users with rewards. These rewards are given to users when they purchase products using bitcoin.

So that’s it, those are the ways where one can earn Bitcoin. As time goes by, many ways to achieve will come out and provide one with an option to acquire. For now, there are also fun and practical ways to get bitcoins.

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