Bitcoin 101: How To Make Money From Bitcoin

With the advancement of technology, e-commerce also keeps on growing and developing. Bitcoin is a cryptocurrency that is used to trade in the digital market. It can be sent from user to user without the need of any intermediaries.

You can load your debit card with Bitcoins, and you can also use debit cards to buy bitcoin and pay your bills online. Contrary to what most people perceive, bitcoin is easy to use and leverage. Though some observers may even be widely known by others, you can earn from bitcoin online in various ways.

Here are six ways that you can learn to earn from bitcoin.

1. Mining

Bitcoin is hidden inside data blocks. Mining bitcoin can be done by using high-powered computers, which can solve complicated math problems. There are two possible results of this. It could either be that by addressing the complicated math calculations, they will be able to produce another bitcoin. The other result will have bitcoin miners make the bitcoin payment secure with the verified transaction information.

2. Micro Earnings

Micro earning, such as bitcoin faucets, PTC or pay-to-click, and doing micro jobs are some of the examples of it. These are all doing small and easy tasks and earning for the amount of time you’ve spent. Micro earning requires your highest form of effort, which only provides you low income. This is good for people with low-risk tolerance because the risk of these things is not that notable.

Here are some of its examples:

  • Bitcoin Faucets

Bitcoin faucets involve performing simple tasks such as playing games, viewing ads, and in exchange, bitcoins are given. If you happen to enjoy playing games or answering surveys, or view ads, then you can do this to earn bitcoins. It doesn’t necessarily mean that you do it every single day. You can only obtain the bitcoins you had worked for; thus if you decide to work, then you can earn.

  • Pay To Click or PTC

There are also specific websites which can offer you bitcoins in exchange for clicking a particular ad or specific webpage. This can be a tiring task, and it will require both your patience and hard work in clicking each webpage. Some sites pay 25 to 30 satoshis per click, which is equivalent to 0.00000025 to 0.00000030 bitcoins.

  • Micro Jobs

Doing micro jobs, such as watching videos and small or microtasks, is also a way to earn bitcoin. Depending on how many jobs you can take and how many jobs the site offers is the amount you’ll earn.

3. Lending

Lending bitcoins is another way to earn money and get more bitcoins. The effort it requires is low; however, the risk that you are going to take is exceptionally high. Since the risk is high, the income is as well rewarding. This works by merely letting other users borrow your bitcoin and get a high-interest rate from it.

You can make as much as 15% a year on your coins. However, the risk is that there is no actual collateral that holds the lender responsible for the borrowed bitcoins. Thus, it can easily default.

4. Trading

One of the fastest and easiest ways to grow the number of your bitcoin is to trade it. As it is the easiest, which requires minimum effort from you, it’s also one of the riskiest ways. Just like how you handle stocks and buy and sell them when you deem fit, it is the same with bitcoins.

This can be done by buying it at a meager price and selling it when its value goes high up. By doing so, you will be able to earn a substantial amount by taking the risk and determining the right timing.

5. High Yield Investment Programs or HYIPs

HYIPs usually take money from new users and use that money to pay the old users. This is quite controversial because it sounds like a Ponzi; however, there are legit sites which pays. They also offer referral programs so that there are always new users and existing users can refer it to their friends. For you to determine a legit site, there are bitcoin scam test tools. This tool can be used to help you identify which among the crowd will be a waste of time.

The Bottom Line

There are so many ways to earn and make money from Bitcoin. With all the techniques and methodologies presented, each of them has its drawbacks and list of benefits. Figuring which among of it works well with you is your responsibility. Always do in-depth research about the choice you are going to pick and how it works. That way, you will lessen any possible troubles in the future.