There is so much going on in the financial world right now, between large trade deals being negotiated among the world’s leaders, the UK leaving the EU, and Elon Musk pitting himself against the oil giants, one thing is inevitably provoking interest - Cryptocurrency. Namely Bitcoin. Since its inception it has surged in value (albeit with the occasional drop) and made millionaires of professional and amateur investors alike.
2018 is likely to be the year of Bitcoin. With exponential growth in the Bitcoin price expected over the coming months, mining becoming increasingly difficult, and purchasing even a percentage of a coin costing the earth, everyone is asking how they can earn Bitcoin. So here is our list of the top 4 ways to earn Bitcoin and alleviate jumping through the hoops of obtaining it any other way.
Receiving payment for goods or services
With the gig economy booming and people realizing that if they possess a skill they can trade on their own terms, it is no wonder that there are people earning their wages in Bitcoin. There are websites like XBTFreelancer, Bitwage, CryptoGrind or Bitgigs that allow freelancers to work remotely in exchange for Bitcoin. Some are predominantly made up of IT or software related jobs, others allow for advertising any thing and everything that goes with a very varied marketplace. However, to be on the safe side, it is highly recommended to stay away from rogue job sites and stick to the platforms with strict rules.
If you have an online shop, get yourself a Bitcoin wallet and start accepting Bitcoin as a currency today. Many retailers have already cottoned on to the vast amount of benefits of owning Bitcoin and often allow people to make purchases with Bitcoin.
You can also put a barcode on your website or blog allowing users to tip you with Bitcoin. Some websites specifically target Bitcoin donations via this method, and some websites with a lot of traffic have made a fair bit of Bitcoin just by asking people for a small Bitcoin tip on their visit. Simple and very effective way of earning Bitcoin with very little effort.
Completing tasks on task websites
Much like the plethora of survey sites that allow you to earn dollars for completing surveys and the like online, these sites have been set up but with the reward of Bitcoin for all your hard work. Some of the simplest sites to get started with are:
- bitter.io: Simply watch adverts to earn Bitcoin. A bit laborious, but if you have the time on your hands to click through adverts, then this can earn you a good little pot of Bitcoin.
- Coinworker: This website offers you the opportunity to gig for Bitcoin as a payment, completing analytical jobs in order to earn Bitcoin.
- Bitfortip: An innovative idea, users post questions on an open forum, and the bestanswer receives a payment of Bitcoin in return for their knowledge. Think Quora, but with more unusual questions and a currency reward.
Yep, it was only a matter of time before crypto-casinos started popping up online. Some are very sophisticated, allowing players to purchase in-game credits using a credit card and then allowing them to gamble for Bitcoin and altcoins. Now, this isn’t for everyone, certainly not for the risk-averse. But, if you feel lucky, then find yourself an online casino that allows you to play for Bitcoin and get stuck in. However, it is worth remembering that there are a few people that have made a substantial amount of Bitcoin using this technique and cashed in to earn a small fortune. In gambling, there must always be winners and losers, so this method carries much risk.
This is the cornerstone of most Bitcoin earners’ lives. It centres around the same trading structureas the real-world trading platforms like FOREX. Bitcoin trading comes in different forms - day trading, margin trading and arbitrage trading.
- Day trading. Utilizing this method, a trader cashes on daily fluctuations of the Bitcoin price that sometimes bring substantial profit.
- Margin trading or trading on leverage. A trader borrows additional funds from the platform to gamble on a rise or fall of prices and maximize profits. Note that a margin trader might maximize losses just as well.
- Arbitrage trading. As a rule, this type of trading is executed within two or more platforms, where the spread between the rates of Bitcoin is large enough to afford a trader a good profit.
The great thing aboutsome of the trading platformsis that they make it relatively easy to turn a big Bitcoin profit if you know what you are doing. Bitcoin trading is a phenomenal way of turning a good profit fast, but make sure you’re trading on platforms with relatively low transaction fees and always ensure you are cashing out your Bitcoin to your personal wallet. Crypto exchange wallets are notoriously prone to being raided by hackers.
Now you have 4 great ways to get some Bitcoin in your pocket. All of these methods can earn you a bit of Bitcoin to get you started on your road to Bitcoin riches. However, be careful when choosing any of them and make sure your crypto knowledge is sound. If it isn’t up to scratch, you are likely to lose a lot if not all of your investment.