If you’re looking for a way to earn some Bitcoin you’ve come to the right place. This article will tell you 10 different ways in which you can earn Bitcoin and other cryptocurrencies online. Just remember I said earn though. These aren’t giveaways, and you’ll need to contribute something, whether that be your time, your computer’s processing power, or something else.
You’ll find that some of the methods I give you below are both quick and easy, but also yield very small returns. Other ways will yield more cryptocurrency, but will also require more work, or in-depth knowledge about cryptocurrencies and market forces.
This shows why the idea that cryptocurrencies are easy money is actually a flawed idea. As is true in pretty much any industry or sector, those with detailed knowledge will have the best chance of reaping the greatest rewards.
If you’re looking for ways to earn cryptocurrency online, look no further. You can even begin with the easiest methods, and as you gain experience and knowledge move on to the harder, but more lucrative ideas.
How To Earn Cryptocurrency: Paid-to-Click Websites
As you can probably guess from the name, these are websites that will pay you in cryptocurrency for viewing advertisements, or for clicking through the other websites. Note that while there are many of these sites available, they all have one thing in common. They all pay a pittance for clicks and views.
And it doesn’t matter if you choose sites that let you click new ads after 5 seconds, or those that have longer ads that might only need clicks every 30-60 seconds. None of them are going to yield more than a few dollars a day, and likely much less than that as you’ll soon become solidly bored with the endless clicking.
How To Earn Cryptocurrency: Cryptocurrency Faucets
Cryptocurrency faucets began with Bitcoin, and at that time they were simply a way to spread the word about cryptocurrencies. Early adopters used them to give away small amounts of Bitcoin to get others interested in the new form of digital asset.
These days the cryptocurrency faucets still pay out, but the amounts are diminishingly small, and users are required to view of click ads or sometimes to complete surveys.
Faucets now have affiliate programs to earn from the clicks of others, and faucet rotators that will let users quickly and easily surf from one faucet to another. Even with all of these in place you aren’t going to earn more than a few dollars per day from cryptocurrency faucets.
How To Earn Cryptocurrency: Micro Jobs
These are small, quick, easy jobs you can do for minuscule cryptocurrency payments. They are probably the easiest method for earning, but that’s more than offset by the fact that they also pay the least, and are the most time consuming method for earnings cryptocurrencies online.
Websites like Coinworker offer you small cryptocurrency payouts for doing tasks like testing a plug-in to see if it’s compatible with a browser, or even something as simple as retweeting a post. You won’t be getting huge payouts, but they could be better than the amount earned at pay-to-click sites and faucets.
How To Earn Cryptocurrency: Writing about Cryptocurrencies
If you have some knowledge about blockchain technology and cryptocurrency, and are also enthusiastic and curious about the industry, you could get paid to share your knowledge by writing about cryptocurrencies.
The amount you can earn varies, and is partially up to your negotiation skills and experience as a writer. It can be a lucrative undertaking though if you are knowledgeable and a solid writer. In fact, the more knowledgeable you are, and the more writing skills you have, the more that can be made.
Currently there are a large number of blogs and cryptocurrency news sites, and those are increasing all the time. One thing they all have in common is the need for good content. This could provide you with limitless opportunities to earn through your writing, and the top writers can make as much as $100 per 1,000 words.
And most of these websites and blogs are more than willing to pay you with Bitcoin, Ethereum or some other cryptocurrency. A simple search for cryptocurrency writer on Google will find you dozens of jobs quickly.
How To Earn Cryptocurrency: BitcoinTalk Forum Signature Campaigns
If you’re a member of BitcoinTalk forum you can get paid as part of their Signature campaigns.
These pay writers to post on BitcoinTalk forum and get paid. The payment levels are dependent on the membership level, with more experienced members offered higher pay. Typically you need to be a full member at a minimum to participate in the Signature campaigns.
There may be other requirements for each campaign, such as a minimum word count, or that no advertisements can be included in the post. You may also run across campaigns that have a minimum weekly post count requirement.
The amount of money to be made will vary based on the number of campaigns currently running as well as on the number of quality posts you’re capable of making each week. Some campaigns currently posted will pay up to $70 for a quality post. Others may pay as little as $1 per post.
There are also companies that may offer additional bounty money for posting to social media. That can mean tweeting on Twitter, posting to Facebook, or creating YouTube videos. Payment is often tied to the number of followers you have, so building up your social media profiles can be useful in this regard. Usually with bounty campaigns you’re paid after the ICO concludes, and you’ll typically be paid in the token or coin of the company you promote.
How To Earn Cryptocurrency: Affiliate Marketing
If you’re going to go with the writing route for cryptocurrencies you might want to consider starting your own blog or website. If it becomes successful you would have the chance to make significant income through affiliate marketing in the cryptocurrency space.
Affiliate marketing is when you get paid a fixed rate or percentage of sales for bringing customers to other websites. A popular blog post could get hundreds of thousands of views, making affiliate marketing an nearly unlimited source of commission income, and one that could last for years and years if your posts remain high in the search engine results.
How To Earn Cryptocurrency: Provide Cryptocurrency Services
In terms of cryptocurrencies, if you have experience on the technical side there are nearly unlimited opportunities to get involved in the development side of things. Because most of the projects in the cryptocurrency industry are start-ups, and the technology being used is quite new, there are openings for nearly any type of programmer or web designer, as well as other openings in the technical, marketing and business aspects of blockchain technology.
Depending on the size of the project and the size of the role, these jobs can be anything from short-term contracting, to longer term remote work, or even full-time positions. Earnings for these roles are obviously over a wide continuum and depend on factors such as your own experience and skills, the number of hours you’ll devote to the project, and the role you’ll be filling.
How To Earn Cryptocurrency: Cryptocurrency Lending
Cryptocurrency lending is a fairly new area with substantial chance for rewards, but also with significant risks. Any cryptocurrency lending works through blockchain projects that provide escrow services, but no guarantees of repayment. You act as the lender on these sites, which are similar to the more traditional peer-to-peer lending sites like Prosper, Lending Club and Upstart.
You set the interest rate when you lend your cryptocurrency and the interest payments are typically made in cryptocurrency. Because this is an unregulated market you’ll be able to charge higher interest rates than you would if lending fiat currency through a regulated lending platform. This gives you the chance to make very high returns.
Of course the unregulated status of these new lending sites also means you have no recourse if the borrower chooses not to repay your loan. Because of this risk and the volatility associated with this type of lending it is mostly for the larger cryptocurrency holders who can absorb some level of losses. It’s a very interesting area of development though, especially given the potentially large returns.
How To Earn Cryptocurrency: Cryptocurrency Mining
Those who joined the cryptocurrency revolution early have made very significant amounts of money through mining Bitcoin and other cryptocurrencies. While it isn’t as easy to mine Bitcoin these days, in fact it isn’t really worth it unless you have one of the very powerful specialized ASIC machines, you can still make money mining other cryptocurrencies.
When you look at the gains made by Bitcoin, there’s no way to know if some other cryptocurrency will gain 10,000% or more, which could make your mining efforts very profitable. I don’t think you’ll see the kinds of gains early Bitcoin miners have seen, but you could get a very respectable profit from consistently mining if we have another spike in cryptocurrencies similar to that seen in late 2017.
Remember, Bitcoin mining may not be profitable at this point in the evolution of cryptocurrencies, but mining other cryptocurrencies is, and so you can make money from cryptocurrencies in that way, and perhaps far more than you might imagine in the long run. Bitcoin has only been around for 9 years and look at the gains made there. Who knows what the next 9 years might bring for cryptocurrencies.
How To Earn Cryptocurrency: Cryptocurrency Trading
I’ve saved what has the most potential for gains for the last, although it also has the most potential for losses due to the volatility in cryptocurrency markets.
Trading cryptocurrencies requires a decent amount of skill, a good deal of knowledge about cryptocurrencies and market forces, a bit of luck, and a strong will. It isn’t for everyone, but if you can find success you can make a large amount of profits by trading back and forth in various cryptocurrencies. After all, there are no other markets that can see moves of 10-20% or more every single day.
If you do intend to trade cryptocurrencies the first thing you’ll need is a stake of Bitcoin to begin, since the only currency many cryptocurrency trade against is Bitcoin. You can buy Bitcoin at any of these exchanges that accept fiat currencies for purchases. Once you’ve gotten some Bitcoin and transferred them to an exchange for trading you have several ways to go forward:
This is one of the more popular ways to trade cryptocurrencies, but it requires strong nerves and a deep understanding of cryptocurrencies and the markets they trade in. It’s also good if you are able to move in and out of coins rapidly, and know where to find breaking news regarding different cryptocurrencies. Day cryptocurrency trading certainly isn’t for everyone.
Trading bots are considered a good automated method for earning cryptocurrencies through trading, but it also isn’t for the faint hearted. The best method is to code your own trading bot, because using bots that were coded by others can lead to unintended consequences. You have no idea what might be coded into a bot someone else has coded, so you might not know what market conditions could break the bot – and that could lead to huge losses in a short period of time. There are several popular bots that operate on markets 24/7, but I leave it up to you to investigate them on your own and make the decision whether or not trading bots are for you. Some platforms you could have a look into is CryptoTrader, 3Commas and Cryptohopper.
Contracts for Difference
These are specialized contracts in which you trade against the broker who offers the CFD. When using CFDs you never own any cryptocurrencies at any time. One useful feature of CFDs is that you are able to short cryptocurrencies by using CFDs, which is something you can’t do with any of the cryptocurrencies except Bitcoin normally. This can give you profits on its own, or allow you to create hedges to minimize your risk when purchasing cryptocurrencies. The downside to CFDs is that you don’t own any of the cryptocurrencies, so it is only useful as a trading tool.
Binary options were created fairly recently, and cryptocurrencies were a natural addition to this specialized financial derivative. Binary options got their name from the fact that there are only two outcomes – you are correct and win, or you’re wrong and lose your entire investment. Returns on binary options can go as high as 300%. Recently we reviewed IQOption, which is the largest binary options platform in Europe.
While this list may not be exhaustive, it’s a great start for anyone who’s interested in some of the popular ways to earn cryptocurrency online. As with anything in life, nothing comes for free, so you can expect you’ll have to give something in return for your cryptocurrencies, whether that’s time, expertise or computing power.
The good news is that interest in cryptocurrencies continues growing, and the need for knowledge and expertise regarding cryptocurrencies continues to expand along with that interest. Now is still a very good time to earn cryptocurrency before the next huge boom in the market comes along.