Ways to Earn Bitcoin

Okay, let’s talk about how to earn bitcoin. Today in this article, I’ll show you guys a few ways earn bitcoin and also tell you about some so-called bitcoin earning methods from which you should stay clear, as those either do not work at all at best or scam at worst. Let’s get started.

At first, let’s admit that most of us are taking an interest in blockchain, cryptocurrencies, bitcoin, etc. to make some quick bucks. For some strange reasons, most of us believe that it’s possible to make or create bitcoin out of “thin air” without investing much effort or investment. Let me burst the bubble first; it’s not true at all. While being a relatively new technology and a new type of currency, cryptocurrency hold some potential for generating money, the rule of the game is the same. Just like real money, or in a more specific term, fiat money – you can earn bitcoin only if you invest your time, effort, and money. There’s no workaround absolutely. So, you may ask what exactly I am going to tell you today? Well, as I already told you, being a new technology, bitcoin opens up new ways to earn some substantial income. I’m going to explain to you those methods, and it’s up to you how much work and time you’d invest in those methods. I have already tested each of the methods, so let me assure you that what I’m going to say will be from my personal experience and you can expect the same result if you put the same effort as I did.

Bitcoin faucets

This method is the easiest and requires no monetary investment at all unless you want to run your own faucet; I’m coming to that in a moment. So, what is a bitcoin faucet? It’s actually a modern crypto version of our good old PTC websites. Those who were typing in google “how to earn money online” in the late nineties or early two thousands, know well what PTC is. For the rest, PTC means get “paid to click.” Typically, you visit the site and click some ads on the site, and you earn some small fractions of a dollar – that’s the main concept. Same applies here too, you click some ads or on a button, and you get credited with tiny fractions of a bitcoin. Exactly how tiny? Well, it depends on the particular site. However, based on my personal experience on some of the oldest and well-known bitcoin faucet sites, you can earn anything from forty cents to five dollars in an hour. If you live in the USA, UK, Canada or Australia, this may not sound very tempting. However, people from countries like India, Pakistan, Bangladesh, etc. where electricity and bandwidth are cheap, may find this as a lucrative side-income they can earn while sitting at home.

Running your own bitcoin faucet

Now, this is a whole different story. Here, instead of being a user, you’ll run your own bitcoin faucet. If you think it requires lots of skill or effort, let me tell you, it’s not. Plenty of tutorials are available in google where you’ll get step by step information about how to start your own faucet. Apart from buying your own domain and hosting, you’ll need to invest a little bit of capital initially. And depending on your effort, traffic, and advertisers, you can earn anything from five hundred to one thousand of dollars relatively easily.

Bitcoin Mining

This is probably a perfect example of making money out of “thin air,” who would have thought that this would be possible someday! Well, not exactly thin air, but it’s the closest to that. So, what is bitcoin mining? For those who don’t know already, bitcoin miners do solve some computational problems using their computational power, to process a transaction. Mining is what keeps the blockchain running and secure. The more miners mine, the more secure blockchain becomes. However, let’s not go into the details and technicalities of bitcoin mining; we shall do that in another article. The important thing to know for you is, this is another way you can earn some bitcoins. But don’t get too excited, it’s extremely hard, to say the least. If you’re a company or at least have a sizeable amount to invest, bitcoin mining could be beneficial for you, depending on the electric power cost at the place where you want to run this mining operation. But if you’re just an individual looking for some extra income, well, you shouldn’t think about it and should focus on other ways to earn bitcoin. Why? Because bitcoin mining needs very substantial computational power which can be achieved by highly expensive GPUs, and those usually cost an arm and a leg. Moreover, running those GPUs 24x7 in their full potential would consume huge electricity, and unless you live in a place where electricity cost is meager, chances are you would be billed much more for electricity than you’d ever be able to earn as bitcoin.