Ways To Earn Money With Cryptocurrency!

in steemit •  7 months ago

The other day, I was having a discussion about cryptocurrencies and making money online with my friend.
He has more of a traditional mindset and thinks that cryptocurrencies are a risky, and you can't really earn money on the internet unless you do some dark business.
Of course, I had to prove him wrong! I am an absolute crypto Enthusiast and nothing excites me more than discussing crypto topics.


Ways to make money with cryptocurrency

1) Of course, Steemit!

When researching about this topic, I stumbled upon Steemit!
I immediately thought, what an amazing idea for a website - a combination of social media and cryptocurrency.
Of course, I don't have to tell anyone here how big the opportunities are with steemit.. you can really earn money online by posting articles, as long as they're high-quality and you post regularly!


2) Cryptocurrency mining

Mining is the most traditional way to earn cryptocurrencies.
Although a lot of miners have become unprofitable with the increasing difficulty rates, some are still worth your investment.
The Wolf V1 offers the most speed, while Antminers by bitmain are one of the most popular models currently.
They make about $50-$120 per month, depending on the model you choose and on your electricity cost.



3) Completing tasks on website

This method doesn't make that much money, but it's extremely easy: you can earn btc for fulfilling simple tasks on these websites.

  • Ads4BTC: earn btc for watching short advertisements
  • Coinworker.com: get bitcoin to complete analytical tasks
  • Bitfortip: earn bitcoin by answering forum questions



4) Bitcoin lending

If you hold some BTC, you can make money by lending them to other traders. Of course the benefits for you depend on your amount of btc, the duration of the lending etc. But it can be a very profitable option!

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Thanks for sharing my friend, I did not know options 3 and 4. I'm going to investigate a little. And thanks to steemit that not only allows me to make money, but also that I can read post like yours, to win more!

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Hi there i have just joined and have no idea how to get people to see may first post and get steemed up ,
Please like my post on Africa burn there loads of great photos and id love someone just to look at it :) Thanks Graham

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Nice way to make some extra money... @pocketechange

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By the way... Check out my Blog on the Speed of Sight... @pocketechange

This is quite a useful post, although I will disagree on the mining part. I will probably cover about my thoughts on mining and why I disagree in my blog soon.

Hey Bro,
Good Stuff!
Follow me? https://steemit.com/@dnonomos
Just another BitCoin Collector.
Cheers! Upvoted your articles!

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Thank you, that's awesome. Followed!

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Hi there i have just joined and have no idea how to get people to see may first post and get steemed up ,
Please like my post on Africa burn there loads of great photos and id love someone just to look at it :) Thanks Graham

wait! where is number 2?

Great post!
I will follow you!
Steem on!

Interesting 💡

Great article and very informative, thanks.

Mining Crypto currency From your laptop using NVDIA Card or Amd card is very easy and profitable with using Nicehash Miner Software and MinerGate and EOBOT Software.
If you want increase your investment 10 to 100 times you must invest in new Cryptocurrency Like ADSCASH, PUTINCOIN and New Cryptocurrency Bank ICO POLIBIUS Bank all very reliable Company.

Thanks for posting this! The websites look like a great deal. I researched some of the mining rigs but was overwhelmed with the prospect of the time to recoup costs, the difficulty of coins mined, and power concerns. Looked into online miners(who seem to work much like server hosts) with the idea that they offshore equipment and get cheap electricity costs. DO you have any thoughts on these, or do you think it would be cheaper to just buy now and lend out/let appreciate?

I'd like to call your attention to this thread that says the KNC Titan 2,0 miner does not exist. And they claim the website that is selling these to be a SCAM. So be carfull If you decide to buy a miner make sure you do your homework to avoid beeing scammed.
http://cryptomining-blog.com/8704-knc-titan-2-0-miner-is-a-convincingly-looking-scam/

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Thanks for letting me know - I wasn't aware of that! I will edit the article so that no one falls for this!

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Np! thx for editing the post.

great post. followed

Nice article.

My only concern is central banks manipulating cryptocurrencies thought ETFs and paper derivatives. Central banks manipulate everything else.

What exactly is bitcoin mining and how does one learn how to mine?

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I'd recommend avoiding any cloud mining service. I don't know of one that didn't turn out to be a scam or a big loss to those who invested in using it.

May I know where to lend bitcoins online? thanks.

Thanks for the post. I never had thought about bitcoin lending.

Nice job man! Good read! :D

if you still cant make any money smile
be happy
thanks
you may wont to read my post on smiling
https://steemit.com/life/@writemore/smile-you-on-steemit

Need more people like you on this site. Thanks for the info.

I did my share of mining BTC in 2010/11 but the rate that the equipment becomes antiquated eats up any profits fast - have used BitClub Network for a little while now and have made good earnings from it -
http://tinyurl.com/law5v3p

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I am looking at BitClubNetwork. If you don't mind, please can you share some information... what package did you get and what is the average monthly return?

How about cloud mining such as hash flare ore genesis? Anyone tried and able to hit the ROI?

Passive income can be made out of cryro currency but be careful ofvthe scamsvthat are out there

Best place for lending/borrowing is https://btcpop.co/home.php
https://www.bitbond.com/ is also good
and https://btcjam.com/ (USA not allowed)
you can also earn by lending to margin traders on Bitfinex, Poloniex,
Bsave and Magner will simplify the lending to margin traders

I am new to cryptocurrency and still learning as much as possible. I love steemit so far and hope it takes off!!!

Thank you this is very informative for a new comer to CryptoCurrency as myself.

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Trading and mining would be the most profitable, but you need knowledge and experience to be able to trade successfully.
And for the miners, the Antminer L3 by bitmain makes about $7 in revenue per day, while the Titan makes $40-60 a day.
Of course the Wolf V1 has the most hashing power, it makes $130 a day but it's much more expensive (over €6000), so your choice depends on your budget.

Bitcoin lending can be quite profitable, but only if you own relatively large quantities of btc and don't need them available for trading.
And completing tasks to earn btc only makes little money, but of course it's the least complex as well.

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Hats off, very good and accurate answer.
Adding you to my follow list.

It's opening alot of doors for everyone.

Coinworker looks interesting. You can also earn bitcoin by sharing valuable market information with our private community at collabovestor.com

So, Ads4BTC, at first glance isn't very good. I watched 5 ads, and got 0.00000188 BTC which is about 0.003525 USD as of this writing.

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For sure it is not much, for now, but keep in mind that btc is still going up, so once you get paid, it is silently working for you ! Unless btc plunges...

There are also bitcoin-based brokers where you can make more bitcoin by executing profitable trades on various stocks, currency-pairs, or precious metals.

I like to use 1Broker for its relatively small commission and leverage fees on trades.

I use genesis mining , so far so good

I really needed information...Thank you for sharing ....upvoted and followed...

Another great aspect of cryptocurrency is that if affords privacy to those using it, so you can use it to have your spouse whacked and it can't be traced back to you. Theoretically, of course.

Awesome post very informative. I thought the main ways to make money in crypto was to either mine it or trade it. Nice to read about a few other ways.

Thanks for the advice

Thank you @digitalmoney for sharing this post to us, very helpfully

Tks for sharing your knowledge :D I am new about this subject, so its always very nice to have good articles to read.

Good info thanks

Thank you. I also knew this forum today and I am finding guide for this. Can you help me?

I've been reading and studying Cryptocurrency for the last 3 weeks or so. In other words, I'm new to the scene. I've tried almost every type of Mining program for Bitcoin, Ethereum, Litecoin, Darkcoin, and none of them really pay much over $0.03 dollars a day. It seems like any type of mining requires some type of investment upfront in order for it to be worthwhile. Even then, the difficulty rating just increases and renders the new mining hardware useless.

 I've tried playing games for currency, not very profitable. There's faucets that spew out currency once a day, or hour, or week, but they also don't pay very much. There's a program called Storj Space that you can lease your free hard drive space for Cryptocoins. I tried that for a week or so, but it seems like there really isn't much of a market for it right now. After all me weeks of digging, I've finally stumbled upon Steemit. I'm hoping that all of the research and testing will pay off with this one.

Nice post! i got an idea to earn bitcoin! Thanks!

Well Done on doing so well on your first post.

Hello! Great post! I also believe a lot in cryptocurrencies, but I only trade, because about mining I haven't got yet the complete idea. For the moment I guess the most profitable cryptocurrencies which have all for succeding are: Bitcoin, Ethereum, Steemit, Gnosis & BAT (new ICO on 31st May).

Thanks and please, don't forget to follow me on steemit!

@digitalmoney is it cool if I do a follow-up on this and link back to your post? I know of a few other ways to earn money with cryptocurrencies

Great writeup bro. Keep it up.

I never thought of #4....where do you do that?

Upvoted followed and resteemed!!!

great post , informative, thank you

Great and useful information, especially for those of us that are new

Good post! You can also get coins by staking (Im saying thats different to mining) as you dont need special hardware, just put your coins in to a core wallet and 'unlock for staking' and see the coins roll in.
Another option to hash/scrypt mining is researching, Gridcoin uses that, you dedicate your ordinary computer to researching disease cures and you get crypto for it.
Another thing you can do is loan out your spare computer hard drive space, coins like Sia pay you for that.
Even more fun is SolarCoin where you get paid for having solar panels, every 1MWh you make = 1SLR.

Crypto sure is an amazing place, so many cool ways to earn some.

How much bitcoin would you need to make lending more profitable to other sources? Thanks for the list :)

Lending is my absolute favorite among these. This is truly passive income and more than replaces the interest we used to get for our savings in the bank. Even if you have only a fraction of a Bitcoin to loan.
My other preferred option is DASH Masternode Shares, though that does require a investment of 25 DASH up front.

Good information! Watch out lending BTC though they could scam you.
You can also make free money off BTC by claiming Byteball and Stellar Lumens.

Nice post ! got some new info and questions :D

  1. how does bitcoin lending work ? like is there a third party who works as a "bank" ?
  2. what if the person borrowing the BTC deside not to pay you back?
  3. if i like the answer to 1 and 2, where can i lend out my BTC ?

Thanks for sharing such a handy and informative post.It is very useful for New Steemians.

You can also earn crypto on http://bitrad.io/?ref=36232. Its a fairly new website where you listen to music and earn BRO which obviously you can then exchance for the move popular crypto currencies.

Thanks for the info, there are numerous other ways to earn cryptocurrency but you got to have the faith and patience.