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For some strange reason, people tend to think that because Bitcoin is a new type of currency, there is some magic way you can earn Bitcoins or even earn money from it easily. Im sorry to burst this bubble, but Bitcoin is exactly like any other currency out there.
Even though cryptocurrencies in general might hold some new possibilities for generating income that the basics are the exact same youll need to invest time, or money in order to generate money.
All of the approaches Ill go over are things weve actually tested ourselves here at 99Bitcoins, which means that you can rest assured were talking out of experience. Lets get started
One of the cheapest, easiest but also most time consuming tactics to actually earn Bitcoin is via micro earnings. This means that youll essentially be doing small tasks and earning fractions of a coin for your period you spend.
Some of the well-known micro earnings sites are Bitcoin faucets sites that you repeatedly go to every few minutes in order to maintain a very small amount of coins. Faucets are actually a subcategory of all PTC websites, PTC meaning Pay to Click. PTC websites will usually have you click on an advertisement or on a button on the site in order to make money from advertisement sales.
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From our calculations, should you work non stop at clicking buttons youll average anywhere between 5-40 cents an hour. Not sure thats worth your time or even the power for running your PC.
While participating as a tap person might not earn you a great deal of money, owning your own faucet is a whole different story. Now, you can build a cryptocurrency faucet relatively readily and earn money from selling ads on your website.
At 99Bitcoins we have been running our own faucet for almost 3 years now. Depending on the advertisers youre using and the amount of visitors you have you can make around $1000/month running a tap.
However, running a faucet takes a reasonable amount of time and effort. Youll need to establish your own site, manage users, prevent fraud and also bring some initial capital to fund the faucet when starting out. Heres our beginners guide to running a faucet.
Somewhere around mid-2014, BitcoinTalk, a leading Bitcoin forum, Â began running signature campaigns. In other words, you can use your BitcoinTalk signature to advertise a product and get paid for every post you write. The whole list of campaigns can be seen on the discussion .
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With find out here a signature campaign You get paid according to your membership level on BitcoinTalk. Usually, anyone with a status less than complete member wont get paid that much, in the end. To become a full member, youll need at least 120 posts under your belt. There are also limitations on articles; such as length, original content, and much more. .
Sometimes, theres also a minimum post requirement per week. From our experience you can make around $5 an hour depending no how much you write and your membership level. This, of course, does not include the number of articles you need to write in order to earn the mandatory membership level on BitcoinTalk. .
One of the fastest, easiest but riskiest ways that you can earn money with Bitcoin is by trading it on an exchange. Fundamentally youre trying to buy Bitcoin when its price is low and sell it when the price rises.
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However, trading Bitcoin successfully is not a matter of luck or guesswork. Profitable traders spend a substantial amount of time learning how to trade and how to overcome the many risks involved with trading. Successful traders know they might get rid of money in the short term but they look at it as an investment in their education, since they are aiming for the long term. .
If you want to become a trader make sure you have the time and capital to invest in good trading education.
One of the most overlooked ways to make money with Bitcoin is by promoting through various affiliate programs. Affiliates are people who promote a certain business for free but receive a commission if they manage to bring in paying customers.
Many Bitcoin exchanges, products and services have an affiliate program in which you can enroll. You then get your own unique affiliate link in order to promote that service or product.
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Naturally there are many ways you can promote your affiliate link you can discuss it on Facebook, run advertising campaigns on different websites or even create your own information website and promote your links within the content.