How to Earn Bitcoin? 13 Different Ways to Earn Bitcoin Free
Everyone likes free money. When it comes to Bitcoins
the first question in everyone mind is that how can I earn free Bitcoins. In this post, we will cover all the methods of how to earn Bitcoin.
There are many different ways to earn money with Bitcoin. The free methods consume a lot of time and not reliable for a passive income source. Here is a list of different ways to earn Bitcoins:
- Faucets/ Ads Click
- Paid Trading Signals
Bitcoin is Not the Magical Money
People think that Bitcoin is a type of magical money from which many people make good profits and income. Bitcoin is not magic money, rather we ca compare Bitcoin to Gold and say Bitcoin is Digital Gold. There are no magic ways to earn Bitcoin. It takes a lot of time and efforts depending on which method you are using.
There are three factor that you should take care.
- How much money you can make from that source?
- How much efforts does it take?
- How much risk is there?
All the methods we share in the post is tested by Bitcoinik team, so all of them are legit and genuine. Without any further delay Let’s Start:
1 Earn Bitcoin from Faucets
Efforts – High, Income – Low, Risk – Low
Faucets are the website which gives a very small fraction of Bitcoin ( Or other cryptocurrencies like Ethereum, Doge etc.) in a fixed time interval. This is the easiest method to earn free Bitcoin that need only a Bitcoin wallet. You did not need any technical knowledge about how Blockchain works and other market stuff. This is available free so there is no risk of money but need a lot of time. This method takes a lot of time and efforts to earn some bucks. If you claim every hour or every time a faucet allows then the earning is between 10 cents to 50 cents a day. You can try FreeBitco.in faucet that gives $0.05 to $200 every hour. Another Faucet website BonusBitcoin.co give 1 cent to 10 cents every 15 minutes.
2 Join Bitcoin Referral/Affiliate Programs
Efforts – Medium, Income – Medium to High, Risk – Low
Referral or Affiliate means you can earn Bitcoin by promoting other business. You need to bring new people who joined with your link and buy the products. Affiliate/ Referral is totally free all you need is to bring people to buy the products. There are many ways to become an affiliate, you can share your link on social media (Facebook, Twitter) or run ads campaign. You can share the links on your website that have good traffic. Many crypto exchanges and websites provide affiliate/referral programs. The commission per sale is between 2 percent to 50 percent or even more than this. Binance exchange gives 40 percent of the trading fee back to you when your referral makes a trade. Bitmex a margin trading crypto exchange gives a 10% fee discount for 6 months. BestChange a cryptocurrency converter gives $0.65 for each user who signup from your link. Imagine if you can successfully signup 100 users you will earn $65 without doing anything.
3 Earn From BitcoinTalk Campaign
Efforts – Medium, Income – Low to Medium, Risk – Medium
BitcoinTalk a leading Bitcoin forum can be used for ads campaign. You can join a signature campaign and earn for every post you write. The website is used for all types of discussion related to cryptocurrencies. You can advertise a product or website below your profile to get paid. The payment will be given as per your membership level. To raise your level you need to post regularly good quality content. There are strict restrictions for post length and original content. There is also a minimum post requirement per week. You can make from $1 to $10 depends on the signature campaign and your level. All payouts are only sent in Bitcoin.
4 Write and Create Video About Cryptocurrency
Efforts – Medium to High, Income – Medium to High, Risk – Medium
If you are in crypto for a long time and have enough experience of the Bitcoin space, you can become a writer and create good content. Crypto is an emerging space for startups and they are in need of experienced professional for their business. It’s very hard to find good content makers, you can make handsome money by writing and exploring about Cryptocurrencies and Bitcoin. You can find job/opening section on many websites or you can email them. You can upload your profile on Upwork – an international freelance marketplace. You must have sample articles to show your skills. If you are looking to work for Bitcoinik please leave a comment below.
5 Mine Bitcoin/Cryptocurrencies
Efforts – High, Income – Medium to High, Risk – Medium to High
Bitcoin mining is a process of verifying the transactions on the digital ledger (Blockchain). Each and every transaction on a Proof-of-Work (PoW) blockchain is verified by miners. A mathematical problem is solved to verify the transaction and who did that first get the reward. Bitcoin reward per block is 12.5 BTC. Anyone can solve the problem and earn the reward but the probability is calculated by your mining power. The current difficulty for Bitcoin is 6,353,030,562,983 so you can calculate your probability according to your power. Altcoin mining on the other hand is easier than Bitcoin. If you have less hardware you can mine low marketcap coins.
There are two types of crypto mining available:
- Cloud Mining
- Hardware Mining
In cloud mining, the website gives you investment plans and returns based on your investment amount. Cloud mining is easy all you need is to send your Bitcoin (another crypto) to the website and they give you daily/monthly returns. Sooner or Later the website exit as a scam. On the other hand, Hardware mining is real and cost more than cloud mining. You need to set all hardware devices and need better electricity and coolants for long life. Must do your own research before investing, after all its your money.
6 Become a Crypto Trader
Efforts – High, Income – Medium to High, Risk – Medium to High
Always remember in trading “Trend is your friend“. Trading is one of the best ways to generate a good income. You can trade Bitcoin or other cryptocurrencies on different crypto exchanges. Trading is simple “Buy Low Sell High“. Many people think that trading is gambling and only luck works when your trade goes right, but this is not true. Traders spend a lot of time in reading charts and learning about market movements. You must learn risk management in trading and know when to trade and when not. Noone is perfect in trading even Pro-Traders can lose money in some of the trades, they look at this as learning lessons and ready for long term profits. If you can make 6-8 successful trades out of 10 you can make good money. Start with the small trading amount and increase it with learning. Always remember “Only Invest that You Can Afford to Lose“
7 Paid Trading Signal
Efforts – High, Income – Medium to High, Risk – Low to Medium
If you are good at technical analysis and have a good success rate in trading then you can give paid trading signals on different platforms (Telegram, Facebook, Trading view). There are many people who are looking for a portfolio manager. They give you dividends based on profits or you can take a monthly fee. First, you need to prove yourself a good trader to share your previous trading history and your technical analysis. You can join a trading firm that will give provide you with better tools and capital for trading. This is not an easy job and you need a good experience (more than 2 years) for that.
8 Participate in Bounty Programs
Efforts – High, Income – Medium to High, Risk – High
The bounty program is run by a company to educate people about the product or to find any bugs/problems in the product. Many crypto coins run a bounty program to promote their business and pay according to the content and sales. Others can run a bounty program to find bugs/problems in the end user product. The income varies according to the tasks and companies. You can get up to $10,000 to find a bug in the software or up to $1,000 to create a video or write a blog review.
9 Try Luck With Gambling/Betting
Efforts – Low, Income – Medium to High, Risk – Very High
This method is highly risky and you can lose all amount in seconds. There are various crypto gambling websites that provide different games. There is not so much to write about this method but if you want to try this please make sure that the gambling website is fair. If you have an interest in sports and have good knowledge you can try Cloudbet the leading sports betting website with good odds. Sports betting is much better than casino gambling and you get a 50-50 chance of winning.
10 Lend Your Bitcoin/Crypto
Efforts – Low, Income – Medium to High, Risk – Very High
You can lend your Bitcoin and get monthly/yearly returns. This method is very risky because the crypto market is highly volatile and it is not possible to generate the same returns every month. The borrowers can run away from the deal or go totally broke. There are some lending website that gives good returns but can turn into a scam anytime.
11 Earn From Airdrops
Efforts – Medium, Income – Low to Medium, Risk – Medium to High
Airdrops are a medium of spreading the cryptocurrency to users so that they aware of the crypto-coin and take some interest in it. The coins are distributed to users free of cost but sometimes there are some requirements to qualify for the Airdrop. Currently, Blockchain (crypto company) is giving $25 worth of Stellar Lumen (XLM). Airdrops are risky and can be used to steal your private keys and passwords. Never use your primary email for airdrops and same passwords. You should create a different wallet and email id for airdrops registration.
12 Claim Free Coins From Hardforks
Efforts – Medium, Income – Low to Medium, Risk – High
The first popular Bitcoin Hardfork was held on 1 August 2017. A new coin (Bitcoin Cash BCH) is created by the fork and Bitcoin holders get free BCH coin in 1:1. The highest price 1 BCH was $4090, means you get free coins worth $4090 if you sell at all time high. After that, there are many hardforks (Bitcoin gold, Bitcoin Diamond and many more) were held in regular intervals. Bitcoin holders can claim free coins as per their holdings and sell them on exchange for USD or btc. If you don’t know how to claim free coins you may lose all your Bitcoins. There are many exchanges and compaines those support a hardfork will help you in this, but always do your research because they can turn into scams easiy. This method needs technical knowledge and always risky because the Bitcoin market is volatile. The income reward is medium to high according to the support of the new coin.
13 Double Your Bitcoin With HYIPs
Efforts – Medium, Income – Medium to High, Risk – High
Everyone should avoid this method known as High Yield Investment Programs (HYIP). These websites claim to double your Bitcoin overnight or give very high daily interest rates. HYIP websites claims that they have highly professional trading team that make such type of profits. Actually, they are just doing money circulation from new members to the old members until they reached their goal. These websites also have attractive referral programs so that users can bring more new users. The average lifetime of a HYIP website is from 10 days to 150 days depends on how high the daily returns they give. One day the website just get offline and stop giving payouts. Any website that claims to give more than 20 percent annually will turn into scam anytime. Our advice is to stay away from such websites.
Here we covered 13 different ways to earn Bitcoin. Each method has its own pros and cons. Some are highly risky while others need more efforts. There is no risk-free and easy way to earn bitcoin. The interesting thing about the bitcoin space is that when you put some efforts to learn about it then you will find many different ways to earn bitcoin.
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