As the price of bitcoin increases, more and more people are becoming interested in not only buying the digital currency as an investment but also want to earn bitcoin to supplement their income. In this guide, you will discover five ways to earn bitcoin online.
Bitcoin faucets are one of the easiest ways to earn “free” bitcoins online when you are first starting out. Bitcoin faucets are websites that dispense financial rewards in the form of satoshis (one satoshi is 0.00000001 bitcoin) for visitors to claim in exchange for completing a captcha and viewing ads as described by the website. Bitcoin faucets are able to pay out small amounts of bitcoin as they generate revenue through pay-per-click advertising. The three most popular bitcoin faucets include MoonBitcoin, FreeBitcoin, and BTCClicks.
Bitcoin faucets can be fun to play around with but don’t pay out much. If you want to earn a little bit more you should look into bitcoin microtask platforms.
Bitcoin microtask platforms allow users to earn bitcoin for completing small tasks online ranging from filling out surveys, testing software or completing simple tasks. The most popular bitcoin microtask platforms include BitcoinGet, BitcoinReward, and the microtask-for-hire portal WillPayCoin.
Alternatively, you can also download the bitcoin microtask apps Bituro and Coinbucks, which both pay you for completing micro tasks such as playing mobile games, downloading and testing apps and watching videos on your smartphone.
Bitcoin Peer-to-Peer Lending
If you are already holding bitcoin and want to increase your income further, you can engage in so-called bitcoin peer-to-peer lending on Bitbond. Peer-to-peer lending refers to individuals investing in loans taken out by individuals, startups or small enterprises and is a new form of financing that has gained substantial popularity among small and medium-sized businesses in recent years.
Peer-to-peer lending allows individuals and SMEs who struggle to secure a loan from a bank to receive funding and allows private investors to receive high-interest payments on the loans they grant.
Bitbond is the first and leading peer-to-peer lending platform using the digital currency bitcoin. That means that small investors from around the world can engage in peer-to-peer lending without needing a bank account.
By lending your bitcoins on Bitbond you can earn up over 20% return on your investment, which makes bitcoin peer-to-peer lending a great way to passively earn bitcoin every month.
Bitcoin Cloud Mining
Another popular way to earn bitcoin online is through so-called bitcoin cloud mining. Cloud mining refers to a form of bitcoin mining where instead of mining bitcoins at home using bitcoin mining hardware, individuals rent the mining hardware of cloud mining operators such as market leader Genesis Mining for a small fee.
Cloud mining, therefore, enables individuals to start mining bitcoins and other digital currencies without having to invest in expensive mining equipment and without having to personally maintain a mining operation.
The way bitcoin cloud mining works is that you invest in a mining contract, which will then start to pay out daily or weekly until the contract is over. Some companies, such as Genesis Mining, offer unlimited mining contracts that will run until mining no longer becomes profitable. That means if the price of bitcoin drops significantly and it costs more to maintain the mining equipment than the revenue they generate the mining hardware will be switched off by the operators and the contract will be canceled. That is the key risk when investing in bitcoin cloud mining! Of course, if the price of bitcoin continues to rise as it has been doing since bitcoin’s inception, cloud mining contracts will continue to pay and be profitable.
*** It is important to note that there are a lot of scams and fraudulent companies in the cloud mining space! If you intend to earn bitcoin with cloud mining you should only do so at a reputable cloud mining operator. Conduct thorough research on the cloud mining operator you intend to mine with before doing so! ***
Probably the best and fastest way to earn a decent amount of bitcoins is by providing freelancing services in exchange for payments in bitcoin. There are several freelancer platforms specifically targeted at the bitcoin community where clients pay freelancers in cryptocurrency. Whether you are a skilled graphic designer, writer, developer or marketer, you will be able to find work online that will pay you in bitcoin.
You should also definitely have a look at the newly-launched Ethlance, which is a zero-fee freelancer jobs platform that pays in Ethereum’s cryptocurrency ether. Alternatively, you can always ask existing or new clients whether they are willing to pay you in bitcoin instead of dollars or any other traditional currency.