Looking for fast and easy way to earn some extra cash? You may want to consider Bitcoin as it can be a great option for doing so. When most people think of making money with Bitcoin, they think about Bitcoin mining, but these days there are numerous other ways people can earn Bitcoins and cash for themselves.
Earning money from Bitcoin has taken various forms since the world’s most popular digital currency became viable. Some of them are fairly new, while others have been used to spread in reach along with the currency.
Let’s go over some of the most effective and reliable ways of making money with Bitcoin.
For those of you who don’t mind performing easy tasks or playing games, a Bitcoin wallet is all you need to earn some extra cash. Once you’ve obtained a wallet, go to a special website to solve captchas in order to be rewarded with satoshis (small amount of Bitcoins). These websites normally make money from ads placed on their pages. The users who visit their pages to either solve captchas or answer short questions will receive a share of what the website owners collect from advertisers.
In most cases, one reward round lasts no longer than five minutes. While it may take a while to earn a meaningful amount of Bitcoins, these faucets provide an opportunity to get bits of the digital coins for free, which would be especially useful if you’re new to Bitcoin and want to get a feel of it.
However, be extra cautious when visiting such websites as some of them may infect your computer with malware and viruses.
Creating own Bitcoin website to generate a passive income
One of the most overlooked opportunities to make money with Bitcoin is to set up your own information website. The purpose of this website is to explain the basics of Bitcoin to new users, while making profit from placing ads on your website pages, and affiliate offers.
It will take a bit of time and a small startup capital to get it up in running, but in a long-term perspective the website will probably yield the best return on your investment.
Turning your language proficiency into cash
The Internet is filled with endless forums and information websites, and this creates numerous opportunities. Some companies will happily pay you to promote their products and services on these websites. Others will pay you in Bitcoin to write articles and blog posts about relevant subjects. You could also manage your own blog, place ads on it, and get paid in Bitcoin as users visit your website. If you happen to speak multiple languages, you could also do some translation work for Bitcoin.
Either way, if you have a passion for writing, you can earn Bitcoin. Most companies are looking for English speakers, but there are some opportunities in other languages.
Playing games and watching videos
Some exciting and fun applications have come about in the Android space. One of them is a game much like Plants vs. Zombies in which the player must defeat evil plants. Players earn free Bitcoin from completing the faucet-like tasks, such as viewing video ads and receiving a disbursement. There is also Coin Flapper, which allows players to get rewarded for the time spent with a freely earned Bitcoin balance. On multiplayer PvP games, players can earn Bitcoins by inviting their friends and referring new users.
Selling products and services
Keep in mind, Bitcoin is a currency. This means you can earn money simply by accepting Bitcoin as payment method if you are selling just any type of product. Even the most popular websites, like Overstock.com, now accept Bitcoins.
If you happen to be a top-notch marketer, you can sell your services and products for Bitcoin. It will work just like any type of business: you will have to get out there and promote your products or services.
In case you’re already selling something, you should consider adding Bitcoin as payment method, which will help you find new customers and increase sales. Bitcoin provides a wide range of opportunities for the most progressive and ambitious entrepreneurs. Being entirely digital, cryptocurrency makes conducting business around the world cheaper and easier.
Mining your own Bitcoins
Mining is arguably the original way to create wealth through Bitcoin. Mining is a term for solving complex mathematical algorithms that create transaction blocks to be added to the public ledger. The public ledger contains the history of all transactions conducted through Bitcoin since day one.
Long story short, so-called miners basically build the public ledger by adding new blocks to it, allowing the whole system to function. Miners are rewarded in Bitcoins as they create new blocks, encouraging more people to participate in the process and join the Bitcoin community.
Once upon a time, people could use their personal PC to mine Bitcoins, but mining has become more difficult as the time goes because the algorithms have become more complex. Nowadays, you’ll either have to buy a special mining rig, or become a member of a Bitcoin mining pool that harnesses the power of multiple computers.
Investing in Bitcoins
At the beginning of this year, Bitcoins price topped $1,000 dollars. At press time, Bitcoins are selling for $7,321.44 dollars. Think about potential profit you would make if you had invested in Bitcoin back in January!
The number of Bitcoins that can be mined is limited to 21 million, and its production is tightly regulated through the mathematical algorithms themselves. As you can see, Bitcoin has numerous anti-inflationary mechanisms built-in.. Most market experts agree that over time Bitcoin will continue gaining in value and might reach $10,000 within a decade! However, when investing in Bitcoin you need to be aware of its high volatility and possible price fluctuations.
By now, you’ve probably tried out some online casinos. If not, feel free to check out our list of the most reliable and trusted gambling operators. Bitcoin online casinos are pretty straightforward and offer provably fair games. Built-in algorithms make sure that your chances to win are exactly as high as promised by the casino, which means only your luck determines how much money you will earn with Bitcoins. Or, if that’s your thing, you can play a skill-based game like poker, and earn some money by executing your own game strategies.
Bitcoin is one of the safest payment methods that can be accessed from almost anywhere in the world, which makes it incredibly easy to gamble with. If you are lucky to score a major jackpot, you can earn huge amounts of Bitcoins that will gain in value over time. The upside about gambling is that it doesn’t take any specific knowledge to get started and you can win a ton of money within a short amount of time; the downside is that it’s based on pure luck most of the time. Make sure to play responsibly, and you will see that earning Bitcoins is easy and fun!