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For some strange reason, people tend to think that because Bitcoin is a new type of currency, there's some magical way you can earn Bitcoins or even make money from it readily. Im sorry to burst the bubblebut Bitcoin is just like any other currency on the market.
Even though cryptocurrencies in general might hold some new possibilities for generating income that the fundamentals are the 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, so that you can rest assured were talking from experience. Lets get started
One of the most affordable, easiest but most time consuming ways to actually earn Bitcoin is via micro earnings. This means that youll basically be doing little tasks and earning fractions of a coin for your time you spend.
Some of the more well-known micro earnings sites are Bitcoin faucets sites which you repeatedly go to every few minutes in order to maintain a very small amount of coins. Faucets are in fact a subcategory of all PTC websites, PTC meaning Pay to Click. PTC websites will usually have you click on an ad or on a button on the website in order to generate money from advertisement sales.
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From our calculations, if 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 electricity for running your PC.
While participating as a tap person may not earn you a lot of money, owning your own faucet is a whole different story. Now, you can build a cryptocurrency faucet relatively easily and earn money from selling ads on your site.
At 99Bitcoins we have been running our own faucet for just about 3 years now. Depending on the advertisers youre using and the amount of traffic you have you can make up to $1000/month running a faucet.
However, running helpful resources a faucet requires a reasonable amount of time and effort. Youll need to set up your own website, manage customers, prevent fraud and 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, began running signature campaigns. In other words, you can use your BitcoinTalk signature to market a product and get paid for each post you write. The whole collection of campaigns can be seen on the discussion .
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With a signature campaign You get paid according to your membership level on BitcoinTalk. Typically, anyone using a status less than full member wont get paid that much, in the end. To become a full member, youll need at least 120 articles under your belt. Additionally, there are limitations on posts; such as length, original content, and much more. .
From time to time, theres also a minimum post requirement each week. From our experience you can make around $5 an hour depending no just how much you write and your membership level. This, clearly, does not include the number of posts you need to write in order to earn the mandatory membership amount on BitcoinTalk. .
One of the quickest, easiest but riskiest ways that you can make money with Bitcoin is by trading it on an exchange. Basically youre trying to get Bitcoin when its price is reduced 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 exchange and the way to overcome the many risks involved with trading. Successful traders know they may get rid of money in the brief term but they consider it as an investment in their education, since they are aiming for the long term. .
If you want to be a dealer be certain that you've got sufficient time and funds to invest in good trading education.
One of the most overlooked ways to make money with Bitcoin is by promoting various affiliate programs. Affiliates are individuals who market a certain business for free but receive a commission if they manage to bring in paying customers.
Many Bitcoin exchanges, goods and services have an affiliate program in which you can enroll. You then get your own unique affiliate link in order to promote that product or service.
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Of course there are many ways you can market your affiliate link you can discuss it on Facebook, run advertising campaigns on different sites or even create your own information website and boost your links within your content.