In our recent bitcoin investments article, we talked about how to invest in bitcoin. In this post, I wanted to talk about 3 ways to make money with bitcoin. Everything in the world is evolving, and so the money. Now, we have digital money like Bitcoin, but can anyone make money with this? Here are some ways on how to make money with Bitcoins.
How to Mine Bitcoin
The analogy of bitcoin mining is kind of similar to gold mining in the real world. Like how miners provide us with minerals and golds by digging, Bitcoin miners generate bitcoins by solving complex mathematical puzzles. Instead of pickaxes, they use a high-powered computer to solve these computational problems and create a new bitcoin.
Since Bitcoin is decentralized, mining bitcoins helps support, validate, and monitor the Bitcoin system and network. Miners collect bitcoins transactions and put in together in a block that will be added to the public record known as Block-chain.
The process may all sound crazy, but everything has rewards. For every block they add, miners get bitcoins as compensation for that. And this system will maintain until around 2140.
The Bitcoin Faucet
Compared to the drops from a leaking faucet, Bitcoin Faucet leaks only satoshis, the smallest Bitcoin unit. However, earning money from Bitcoin Faucets is almost free as it doesn’t require you to do extra work unlike in mining bitcoin. All you need to do is to complete simple tasks like answering short surveys and captchas.
If you are looking for the easiest way to earn money, Bucket Faucet could help you with that. However, visiting faucet websites to get bitcoins is not the fastest method. Still, water drops can fill a bucket, and so is satoshis can fill your pocket over a long time.
Become a Bitcoin Affiliate
Another easy method to earn money is to become an affiliate marketer to cryptocurrency companies. By agreeing to promote the company’s product and services for free, you’ll get a commission. You simply provide links in your personal platforms like social media or blogsites to bring people to the company’s platform. And when someone sign-up because of you, you’ll get part of the company’s earnings!
Considering that the crypto network has a wide range of niche, some particular niches work well. Below are the most common affiliate niche markets:
- Online Dating services
- Online Health Businesses
- Online casino or gambling sites
Making money with Bitcoin is not impossible for anyone. Just keep in mind that the industry isn’t perfect, and it might still fluctuate at some point. So secure your bitcoin and bitcoin’s wallet from digital risks.
I’m Jon, owner of Trade Wise at https://tradewise.community/ and https://www.youtube.com/channel/UC7VmOx8DbvX4Rbrac2pPcjw
I review forex and crypto trading products and services to find the best of what’s out there for creating a passive income without becoming a full-time trader.