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How to Start Earning Bitcoin

The First appearance of Bitcoin in 2009 was the beginning of a new era of currency and a totally new approach to managing transactions online. This was not planned as a booming industry, but its rapidly growing popularity and value was a significant event in the contemporary digital world. Seems it was yesterday, but it’s almost ten years already since it was introduced. More cryptocurrency adepts appear daily, and more people still want to become part of this incredible revolution. As a profitable investment, Bitcoin continues growing in popularity and increasing its price. If you look into this opportunity, you might be interested in some ways of getting BTC directly from your home, just using your computer. Below you can check the easiest ways to start earning cryptocurrencies.

What to Start With?

The first thing you should do is register your bitcoin wallet. The process is easy and intuitive, and will not take a lot of time. There are different kinds of wallets for different levels of users. As a beginner, you can be satisfied with a simple online wallet with an exchange option. Later on, you might consider getting a special device for storing your money in a safer way offline.

How Can I Get Bitcoin?

  • Cryptocurrency Exchange Services

It is one of the simplest and most popular ways of getting cryptocurrencies in exchange for fiat money. This will probably be your first step after creating a Bitcoin wallet. You might have heard some stories and evidence about online fraud and dangers of such financial operations, but now these cases are mostly an exception than a rule because the system has improved significantly, and more measures are taken in order to provide total security for all cryptocurrency holders.

Essentially, you will be able to purchase your Bitcoin and other digital currencies (ETH, LITE, DOGE, etc.) with Euro, US Dollar, and Pound Sterling. You can keep your digital coins on the exchange, the same way as with online banking. Another option is PayPal. This will enable easy transactions, exchange, trading, and any other necessary actions. This allows you to see their price fluctuations and use them for your profit, as you are able to resell them or buy new ones at any time. You can also withdraw your cryptocurrency to a safe personal wallet. As soon as your savings reach a certain amount of Bitcoins, this will be a wise decision to store them in a more secure way.

  • Over-the-Counter Market

OTC is a trading platform, a decentralized market, where participants trade on a p2p basis. This means that each participant is an independent buyer or seller who can trade various financial products, including cryptocurrencies. If you look through the available services, you can find a few sites, enabling secure trading between their users.

  • Bitcoin ATMs

A Bitcoin ATM is a virtual cash machine which enables Fiat-Bitcoin and Bitcoin-Fiat transactions depending on the users’ needs. This type of ATM is not a traditional machine as most of the people are used to, though they look exactly like ordinary ATMs. You can withdraw cash from your wallet by scanning the QR code with your phone and entering necessary details, as well as transfer cash to your Bitcoin account by using the cash dispenser. It is a safe but still, rather expensive way of getting Bitcoins, as the commission fees sometimes reach 10%.

  • BTC Faucets

This means a special site or app which pays a small share of Bitcoin, a Satoshi, for accomplishing elementary tasks. It might seem an attractive way to earn some bitcoins easily, but if you learn the subject more thoroughly, you will see how small these rewards are in most cases. Satoshi is only one-hundredth of one-millionth part of Bitcoin, so you probably will choose another way of getting a usable amount of Bitcoins quicker.

  • Completing Jobs and Getting Paid with Bitcoin

Nowadays, some of the enterprises, especially those in IT sphere, offer their employees payments in cryptocurrency equivalents. Thus, developers, programmers, and other people with the technical education can find jobs and receive payments in digital money. Freelancers can search for different opportunities and make deals with their customers to be paid in bitcoins.

  • Sell Goods and Services for Bitcoin

One more way to get Bitcoin, similar to the previous one, is to accept BTC payments for any services you provide online or any goods you sell. If you are a freelancer or an internet store owner, it is a good way to include Bitcoin as a payment method for your work. In this case, take into consideration price fluctuations in order to be able to review your prices and set them according to the actual rate.

  • Consider Bitcoin Mining

It’s an activity most of us have heard many times already, even those who have nothing to do with cryptocurrencies. The process consists in maintaining the blockchain network security and updating the BTC ledger, thus processing each transaction made with Bitcoin. People involved in mining sometimes get Bitcoin rewards for this activity. The process may seem a simple set of operations, though it’s not as easy and not available for the large public. In order to be able to earn with mining, one needs a powerful computer, which requires considerable investments, and special knowledge. If you are a beginner, take your time to learn more about this option.

  • Lend Bitcoins with an Interest Rate

Those who have already earned a certain amount of digital money can try to boost their earnings and get more profit with lending. You could be tempted by attractive interest rates and price fluctuations in your favor, but at the same time, this activity deals with big risks. First of all, because not all the borrowers return their debts, and secondly, price fluctuations also cause considerable losses. Some online services make it easier to regulate the lending process. You can create a profile and make bitcoin lending offers for those who are interested.

  • Gambling with Bitcoin

Today, one of the most popular online entertainment and at the same time earning venues are represented with virtual casinos. As soon as Bitcoin became popular with other cryptocurrencies, many gambling services broadened their payment options list by adding BTC and altcoins. Some of the new casinos accept cryptocurrencies only. If you think you are lucky enough to try earning Bitcoin by playing games, online casinos are what you need. Also, consider some risks involved, as you may get duped by a scam service or simply lose control and waste all your money. So, take your time and find a secure service, and set your own rules and gambling limits for your own safety.

You now realize how many options exist which may help anyone start with Bitcoin earning and increase what they already possess. Taking into consideration all pros and cons, you can choose one of the convenient methods and see how it goes.

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