How do you earn bitcoins, how can I earn bitcoins for free

How do you earn bitcoins, how can I earn bitcoins for free

Lia Jonon
Lia Jonon
Bitcoin has recently grown in popularity and has tremendous value. The blockchain technology upon which it is rooted discovers numerous opportunities regarding reliability, usefulness - and beyond. It has proposed a groundbreaking approach to solving the worldwide issue of transferring value. In many instances, bitcoin may also be utilized as a money-saving agent. Many have wondered how do you earn bitcoins. Let's figure it out below.

Find out where to get bitcoins

 A variety of approaches to start earning bitcoins are readily accessible. Some of them are expensive and power-hungry, but somewhat less risky, and others are free, such as cloud mining, where the cryptocurrency is mined passively through the operation of someone else's equipment.
Learn and Earn program compensates members with free bitcoins simply for reading crypto content; other platforms grant bitcoins for watching videos, and ads, visiting a web page, entering validation codes, as well as accomplishing other minor tasks. Attaining certain milestones in the game helps you earn bitcoins instantly.
Notwithstanding the simplicity and acceptability of such investment-free options, however, vulnerability to scams exists, since numerous platforms are designed as fraudulent schemes that require you to be exceptionally vigilant with the choice of free cryptocurrency acquisition software or sites.
Getting bitcoins without investingGetting bitcoins with investments
Taking cryptocurrency coursesMining with costly devices
Watching videos on specialized platformsInvesting cryptocurrency
Playing bitcoin gamesStaking
Taking surveys on specialized sitesCryptocurrency exchange
Clicking on ads via bitcoin cranesBitcoin lending
AirdropsBitcoin trading

Make Bitcoin Investments

 Albeit cryptocurrencies have been on the market for a considerable number of years, still investment in digital currencies is comparatively new phenomenon. Certainly, the majority of individuals take an interest in cryptocurrencies merely from the point of view of potential earnings. The entire money-making model for cryptocurrency investing is about purchasing crypto when its value declines and selling it when it rises.Bitcoin is a proven cryptocurrency that you may invest in to gain bitcoins. It is not for nothing, according to the Coinmarketcap website, this digital currency is the world leader in capitalization.
There are many factors to consider before you answer the question of how can I earn bitcoins with investments. How to start, which cryptocurrencies to buy, where to buy them – those as well as numerous other questions any beginner crypto investors start to ask themselves.
The choice of coins for investments is a separate topic for consideration. There is a vast quantity of tokens on the market, and each has its own advantages and disadvantages.
Meanwhile, bitcoin, of course, is one of the most reliable. It is critical to be well informed of the next aspects prior to investing in Bitcoin, or any cryptocurrency for that matter:
  • In order to invest money, you need an investment plan. You have to decide for yourself how quickly you want to and will be able to profit;
  • Furthermore, it is wise to invest only spare funds, as chances are that you will lose money if you start investing in crypto;
  • Rates of virtual assets have high volatility. Their quotes are likely to change many times a day;
  • Many coins are resistant to inflation on account of their limited emission. Thus, bitcoin - the most popular cryptocurrency - at the moment cannot exceed 21 million units;
  • The rate of the majority of digital money relies on the demand for Bitcoin, as it occupies a greater share of the market. For instance, Ethereum, an equally promising invention, comes in second place. This coin occupies less than 20% of the market;
  • It is imperative to constantly monitor the news on the world of cryptocurrencies.

Make money mining bitcoins

Let's explore the primary technique of how to earn bitcoin. Mining is one option to obtain cryptocurrency via high-value equipment. Miners extracted the 19 millionth bitcoin on April 1, 2022, with 91.214% of the maximum emission size (totaling 21 million coins) currently in circulation. Meaning there are only about 2 million BTC left to be mined. The mathematical pattern governing bitcoin emissions requires more than 100 years to mine the remaining 9%.
Bitcoins in circulation as of November 2022Source
Bitcoins in circulation as of November 2022
The term Mining, in its more formal sense, is the activity of creating new structures (usually new blocks in the blockchain) for the operation of cryptocurrency platforms. The creation of another structural unit is usually remunerated through newly issued cryptocurrency units and/or fees. Generally, mining is a series of calculations with a search of properties for finding a hash with the specified characteristics.
So, how do you earn bitcoins by mining? Regrettably, it is unlikely that you are going to be able to earn bitcoins on your laptop without specialized equipment. The matter is that due to the high complexity of BTC mining, as a rule, professional miners tend to rely on certain hardware called ASIC. The owners of GPUs enjoy much smaller benefits of mining.
In essence, the owner of a computer, utilizing its capacity to operate a virtual currency payment system, is gathering and processing data on cryptocurrency transactions that are being conducted at the given moment. Such operations are crucial for the execution of transactions, ensuring a high degree of their security, as well as the trouble-free functioning of the entire peer-to-peer decentralized system. The greater the participation of miners and, consequently, computer power, the more reliable and stable the system is.Miners are required to seek a hash that includes several factors:
  • The hash containing the last blocks processed;
  • The number of transfers in the last 10 min;
  • A randomly varying number to satisfy different system conditions.
The income generated will largely be dependent on multiple parameters, ranging from the energy consumption rate in the region, the wattage of the equipment, and the current value of the cryptocurrency.
By far the biggest hit of cryptocurrency today is bitcoin, created in 2008-2009 by Satoshi Nakamoto. That is why, more often than not, the decision is made to mine this particular type of virtual money. However, it should be understood that the flip side of the increased popularity is the tremendous amount of processing power that is involved. Therefore, today, in order to earn real bitcoins by mining, it is a necessity to have extremely high computing power.
Bitcoin miners' revenues have slumped during the year due to a multiplicity of contributing forces linked to investor sentiment, triggered by turmoil resulting from the market crash, ecosystem collapse, and loss-making investments. After bursting out of the turbulence, the Bitcoin ecosystem rebounded in multiple metrics, including miners' dollar revenue, network complexity, and hash rate.
Miners revenue
Miners revenue as of November 2022
Source: reports that BTC mining revenue leaped from $13.928 million on July 13 to $17.095 million on November 5. The substantial boost in mining earnings supports the fact that bitcoin mining is a robust undertaking, notwithstanding its high operating costs. Moreover, falling prices for mining equipment (GPUs) allowed BTC miners to expand their present infrastructure as they mine the last 2 million BTC.

Bitcoin faucets

Notwithstanding the circumstance that everybody nowadays can spend at least a bit of their cash on cryptocurrency, plenty of individuals are typing how can I earn bitcoins for free into the search bar of their browser. They can gain bitcoins through bitcoin faucets (also known as money faucets) by playing games or getting bonuses for some other actions. Especially for someone who lacks the resources to purchase bitcoin or other coins and trade them on cryptocurrency exchanges.The expression "bitcoin faucet" together with the term "free satoshi faucet" refers precisely to obtaining free cryptocurrencies. Needless to say, nothing is free in this world & bitcoin faucet clients are supposed to contribute somehow for getting the rewards.
A Bitcoin faucet represents a website or an app that hands out tiny sums of cryptocurrency in exchange for completing the simplest of tasks. As a rule, you get paid in satoshi, the smallest fraction of BTC, named after their creator. One bitcoin consists of 100 million satoshis.
Those bounties are commonly transferred to the member's wallet in the service that the bitcoin faucet is offering. Earnings could be made both on a pc and on a mobile device or tablet. To earn real bitcoins, users usually have to complete some of the tasks, such as:
  • Viewing ads
  • Clicking on ads
  • Solving captcha
  • Problem-solving
  • Playing games
  • Watching videos and more
Contrary to popular belief, it is virtually impossible to get rich quickly on bitcoin cranes. Seemingly, earning digital money this way is very easy, but you would have to spend considerable hours waiting to accumulate a sizable amount of money. Commonly, your commission for accomplishing diverse objectives is credited to the online wallet provided by the site. It is probably worth noting as well that the easier the task, the less you will obtain for it.
Sometimes faucets limit the minimal payouts, meaning you can only withdraw your funds after you have accumulated a certain amount of money. This may take several hours, days, weeks, or even months: it all depends on the conditions of this or that site.
Bitcoin faucets do not just appear; the creators mostly design them for a purpose. Here are some possible reasons for the creation:
  • Spreading the word about bitcoin
  • Restricted availability of crypto-exchanges
  • Passive income from advertising for faucets creators

Bitcoin forks

In case you have gathered quite a considerable knowledge base on cryptocurrency, you might probably ask how do I earn bitcoins except for mining and crypto faucets. More advanced players will find bitcoin forks a good idea.
Mapping the Major Bitcoin Forks
Mapping the Major Bitcoin Forks
  • So what is a bitcoin fork?
Basically, it is the split of the existing bitcoin blockchain into two identical coins – bitcoin and another coin that is a rival to it. Bitcoin forks differ from genuine bitcoin coins in their technical specs. A fork, unlike bitcoin, may have better scalability or greater transaction speed. A hard fork is not the same as a soft fork. The latter merely modifies the code in the blockchain without creating a new blockchain, while the hard fork introduces substantial and debatable code changes that require the creation of a new blockchain.
  • How do you earn bitcoins using forks?
Receiving coins could be achieved by using forks independently. To accomplish that, you just export the keys from your existing wallet to the new one. Special applications, which ensure the confidentiality of the transfer of personal information without leakage and loss of data, will assist you in this. However, another way to acquire currency using forks is to do it automatically. Multiple currency wallets can be utilized for this purpose. They require bitcoin keys to be uploaded into them so as to receive rewards from forks.
Even though the services are rather reliable and safe, you should be cautious when working with them. Before proceeding and directly loading keys into such wallets, it is advisable to export coins from the source address.
Why forks exist?
  1. Forks provide an opportunity to modify the blockchain network in order to refine or enhance it;
  2. They help to eliminate and neutralize bugs and flaws in the network;
  3. Using forks, the creation of a new cryptocurrency product on the basis of an existing and tested blockchain network is possible.

Bitcoin staking

Anyone who possesses bitcoins already might be wondering how to collect bitcoins by receiving interest from depositing their existing bitcoins somewhere. Such an individual might be interested in stacking – a way to generate passive income from cryptocurrencies that work on the Proof-of-Stake (PoS) consensus algorithm and its variants.
Bitcoin staking
Source: Anchorage Digital
Mining, on the other hand, works on Proof-of-work, an algorithm in which hash is searched by nodes to create a block, which consumes a giant amount of processing power. It was first introduced in the Bitcoin network.
The mining operation may be described as a search for the right hash by a search method. This hash is generated randomly and just needs to be collected. The essence of stacking is to freeze a given coin amount in a wallet to obtain the right to participate directly or through intermediaries in sustaining the functionality of that asset's blockchain and be remunerated for doing so. Stacking fulfills a comparable role in PoS blockchains to that of mining in the bitcoin network.
Staking appears to be a profitable alternative to the mere holding of cryptocurrencies in a wallet, serving as an analogue of a bank deposit in the crypto industry. Stacking yields may range across blockchain platforms from tens of percent per annum to even higher.Stacking, one way or another, is about earning your portion of the reward for the production of new blocks and the verification of data.

Cryptocurrency swap

 Swapping implies transferring one crypto-asset to acquire another. An exchange of BTC for ETH, for example. Cryptocurrency swaps could appeal for a variety of reasons, among them making a profit or diversifying a portfolio. The most frequent way to swap crypto is through exchanges, albeit you don't completely control your assets.
For example, you have ether (ETH), but you desperately desire bitcoins (BTC) instead. There are services that can facilitate you in doing so. Thanks to swap providers, you may submit your ethers and earn bitcoins in return for roughly the same value in equivalent.
Why exchange cryptocurrencies:
  • Time-saving. Swap out one cryptocurrency for another promptly avoiding the need to sell it for fiat money;
  • Diversify your portfolio. The swap enables familiarization with a new cryptocurrency and diversifies your investment portfolio;
  • Asset accumulation. Timely swapping of one coin for another enables you to even make a profit;
  • Protecting crypto assets. Switch from volatile assets to more stable ones to protect your funds from volatility.

Payment services

Cryptocurrency payment systems, aka crypto payment gateways, are systems that permit the acceptance of payments in crypto coins such as Bitcoin, Ethereum, Tether, and Litecoin. These providers propose diverse features, involving transaction processing, vendor account creation, and wallet management.
Cryptocurrency payment gateways are gaining importance due to the widespread use of cryptocurrencies and the security enhancements they provide. Plenty of businesses are embracing cryptocurrency payments to get ahead of the time and enter new markets.
Using them, it is entirely possible to handle large payments, salary payments to employees, or other significant payments. Certain systems permit the rapid convertibility of currency into fiat and vice versa. The system aids in accepting cryptocurrency payments from anyone, anywhere in the world.

Bitcoin ATMs

 Should it be necessary to purchase virtual coins for cash, a decent solution is to seek out a bitcoin ATM. With blockchain enabling users to move funds at low commission rates and cash them out anywhere in the world, it continues to attract new customers.
Bitcoin atm source
Bitcoin ATM
ATMs of this format are like ordinary ATMs and provide the opportunity to buy bitcoin for cash online. Bitcoin is spreading widely with their assistance, due to the significant convenience it presents for plenty of users instead of dealing with an exchange on the Internet. A cryptocurrency automated terminal oftentimes only lets you acquire digital money without selling it in exchange for cash.
Terminals for digital coin purchases for cash can exchange not only Bitcoin and Ethereum but also other coins at exchange prices. Once the transaction is confirmed by mobile phone (one-time SMS or QR code), the virtual currency is transferred to the user's wallet. Not everywhere it is always possible to sell coins via ATM in exchange for cash.
The purchasing procedure commences with sending the data to the system, which holds records of the asset’s value on the balance. If the desired amount is available in the service's account, a QR code with the wallet's address is also shown. Provided that the user consents to the conversion rate, cash is deposited. Upon confirmation of the acquired cash amount, the ATM sells the Bitcoin.The transaction of purchasing cryptocurrency via Bitcoin-terminal includes the following actions:
  • Depositing cash
  • Selecting the cryptocurrency to be purchased
  • Entering the wallet address.

P2P exchanges

A P2P cryptocurrency exchange means that users interact directly with each other to acquire and dispose of digital currency without the need for third parties, akin to banks. Bitcoin's peer-to-peer exchange network is a series of computers, all of which are supposed to approve the currency swap, thereby preventing duplicate transactions.To be admitted to trading on a P2P exchange, you would have to sign up for an account and authenticate your identity. Afterward, a further ID check process may be requested, in accordance with the platform you've chosen. Once you have done this, it will be mere mouse clicks away from trading with other users.
 The worldwide market for peer-to-peer (P2P) lending was estimated at $83.79 billion in 2021 and is expected to exceed $705.81 billion by 2030.

Earn with bitcoin lending

 Crypto-lending functions analogously to traditional lending, where the bank lends unused funds from your savings account to borrowers. The institution collects interest from the borrowers for the loans and gives you a lower interest rate on your savings. In this way, both parties make money.
How to get more bitcoins from your existing coins? For this, existing cryptocurrency lending platforms enable you to lend your digital assets to borrowers in return for a certain percentage. Such lending programs employ blockchain technology, like smart contracts and stablecoins, to guarantee that loans are repaid by the borrower and to protect the lender's interests, plus ensure that it is not subject to the volatility of the cryptocurrency market.
Therefore, as opposed to just holding bitcoin, Ethereum, and other cryptocurrencies until a significant rise in their prices occurs, an increasing number of people are turning to cryptocurrency lending platforms to earn interest on their idle coins. With this strategy, you maintain your crypto assets safely while continuing to make money from them.

Trade bitcoins for extra income

What is bitcoin trading? The technique implies buying and selling BTC to generate profits. This is a great variant if you are seeking a better financial situation and a chance to gain extra money.
Fundamentally, trading as a way to earn on bitcoin is premised on the high level of volatility (price fluctuations) of this cryptocurrency. Bitcoin is an incredibly volatile currency. Its price can skyrocket or plummet virtually overnight, so you might want to closely observe changes in the market price of bitcoin.
Investors are expected to possess a high level of skill and insight into how the crypto market operates. There are 2 primary bitcoin trading approaches:
  • Day Trading. As the name denotes, bitcoin is bought and sold throughout one trading day without carrying over open positions to the next day. Such deals bring profit in small portions but are carried out frequently. As a whole at the end of the day session a trader may acquire a high aggregate level of profit;
  • Swing Trading. A technique of trading where a trader exploits the coin's correction moments that accompany shaping a price trend. The task of a swing trader is to buy bitcoin cheaper in order to sell it at a higher price.

Learning Cryptocurrency

While seeking an explanation to the query of how can I earn bitcoins, you may stumble upon a very curious and unconventional approach to earning the most popular digital currency. It is possible to take a full-fledged introductory course on the topic of cryptocurrency in order to earn extra cash.
Learn about crypto and get rewards – Coinbase
Learn about crypto and get rewards – Coinbase
"Learn and earn" crypto programs remunerate users with free cryptocurrency merely for sitting and reading crypto tutorials, viewing videos, and replying to questions regarding the things they've learned. The majority of online sites feature a range of educational and training content covering blockchain and digital currencies, but only a handful of platforms actually make bitcoin or other cryptocurrencies available in exchange for time invested.
Coinbase provides a range of introductory tutorials, while the company pays a fee in cryptocurrency for completing them. The amount of it can be as high as $166 at the moment. To obtain the remuneration, an educational course has to be successfully finished, and then a test has to be passed.

Profit with Bitcoin affiliate programs

 Crypto affiliate programs are designed to bring in customers/investors to cryptocurrency exchanges, cloud mining services, and ICO projects, as well as to monetize website traffic with browser-based mining. At the same time making money off of it. Payments are in cryptocurrency.
To be an affiliate, you would have to have a significant social media presence or platform in place to target a wide audience. Effectively, you're building a brand on your social channels or blogs by publishing relevant content that aligns with the trading platform's mission and values. Furthermore, a commission will be generated for each client you refer to the cryptocurrency exchange.
Referral affiliate program requirements include an entry form prior to the referral link being provided to the applicant's web page and social networking sites. One of the most lucrative ways to generate passive cryptocurrency earnings is as the affiliate receives a commission from the client's trading amount. The more your customers trades, the higher your earnings will be. The downside is that you will have to pass a rigorous evaluation in order to be permitted to join the program and become an affiliate of the exchange.

Small tasks – videos, surfing, surveys

 How do I earn bitcoins for free, if I have extra time? It is possible to do micro-tasks for customers or some services and earn cryptocurrencies from them. Such tasks like downloading new applications for testing, watching videos, taking surveys online, etc. The services pay in several different currencies, such as bitcoin, dogecoin, and others. Numerous organizations employ micro-tasking to drive interest in their products as well. For example, they reward consumers for the installation of an app or watching a video. Alternatively, for market research purposes, they pay survey participants, too, for example. If you possess the appropriate skills, you may be eligible for the bigger tasks. Businesses would pay bounty rewards for these.
Besides bounty platforms, the majority of cryptocurrency projects run their own bounty programs. Typically, to promote their product or find bugs in the code. Sometimes a bounty can get you hundreds of dollars for posting a medium-sized article in a major publication, or five to six figures for finding a critical bug.

Take advantage of bitcoin gambling

 Bitcoin casino represents an ordinary online gambling platform, where the game is conducted not for money, but for cryptocurrency. The playing conditions are the exact same as those everywhere else: slot machines, roulette, bonuses, promotions, and a whole lot more. The monetary unit is the bitcoin, having a certain monetary equivalent, like a dollar, euro, or oil.
Presently, quite a few casinos, utilizing cash currency, are being reshaped to embrace cryptocurrency. To elaborate, the first casino websites started appearing as early as one year after the creation of bitcoin.
In fact, present-day bitcoin casinos have a common resemblance to the familiar online gambling venues. Everything happens as it should at any gambling service: a gambler signs up for an account at the platform's website and adds cryptocurrency or money, which is later converted into cryptocurrency. Lucky winnings are credited in the form of bitcoin, Ethereum, and other cryptocurrencies, depending on the casino. Nowadays, it is uncomplicated to locate a bitcoin gambling site, as well as to secure starter bonuses for newly registered players.

Token airdrops

 Crypto platforms also frequently conduct promotional campaigns to give away their own tokens. How can you earn bitcoins this way? Free distribution of tokens or airdrops represents one of the opportunities for earning initial funds in cryptocurrency. Still, it is hardly a stable way of gaining income, since nobody ensures that the received tokens will bring an income.
Certain currencies provide limited short-term income, others represent a long-term opportunity, whereas another token may plummet in value after distribution, never to be recovered again. Nonetheless, the experience of being a part of a free giveaway may serve as a learning ground on how the cryptocurrency market actually functions.
A blockchain venture or platform organizes an airdrop of crypto to boost visibility, entice would-be investors and draw in new users. Small-known startups or large companies promoting innovative products organize the majority of such giveaways. Cryptocurrency is paid directly to users' wallets if they satisfy particular prerequisites, such as registering, subscribing, conducting transactions on the platform, recruiting acquaintances, and carrying out uncomplicated tasks.

Getting a job in the bitcoin industry

As the cryptocurrency industry continues to expand, there are more and more employment prospects. From blockchain developers to marketing specialists, copywriters, engineers, business development specialists, software engineers, and others, anyone may choose the appropriate position for themselves. Attractive initial salaries and predominantly remote work will be an advantage.

 Community managers

Who is a blockchain community manager? A community manager is an entry-level crypto job, though being a good community manager might actually pose quite a challenge. Given that many blockchain startups are created in mass movements, establishing and promoting a community is absolutely fundamental to a company's success.
Community managers are the first line of defense for fans, token holders, and potential buyers. A strong community manager cultivates relationships with the community by electing appropriate moderators, putting together events, listening to and interacting with the community, and interacting with the rest of the team. Driven by the role, a community manager may also handle social media accounts and post content there. Community managers’ jobs have the potential to earn anywhere from $40,000 (entry-level) to $100,000 (owning the social media and community strategy of a larger project).

Content authors

 To draw in investors, users, and in some cases even new employees, you will require all kinds of high-quality content: photos, videos, stories, texts, animations, and so on. Assignments of various levels of complexity are possible. As a rule, the author of the content is given a job specification. The demands for the photo and video content are formulated by the customer. To work as a content designer, you do not necessarily require particular knowledge, it is enough to be a professional in your field.

Blockchain developer

New types of virtual currencies are generated on an almost daily basis. Blockchain development expertise is greatly appreciated in the employment sector. Besides the development itself, companies are also in dire need of protecting data from hacker attacks.To master the profession, you should have knowledge of programming:
  • knowledge of Golang, C++, C#, Python, Java;
  • understanding of the basics of administration of global and local Internet networks;
  • experience of p2p-protocol;
  • encryption skills (for new network development);
  • mathematical statistics;
  • network design.
Devices and applications are advancing rapidly, so learning new things has to be done on the fly. Frequently, developers are people with an extensive background in programming and a keen desire to learn new things.
Blockchain engineering has long gone beyond the financial sphere. Transaction tokenization is appropriate in logistics, sales, insurance, and even government institutions, making blockchain developers in demand in a wide range of industries.

Bottom line: how do I make money from bitcoins?

 You can find a variety of forms of bitcoin earning, whether they are paid or free, risky or less risky. For the novice user of cryptocurrency, the most appropriate options are certainly zero investments, better-informed players can take a chance and play the hard way.For instance, long-term investments in bitcoin, cloud mining, and cryptocurrencies do not involve much experience, so they will suit newcomers better. Trading and classic mining require more immersion in their specifics. So before attempting to cash in on these methods, research more data and seek guidance from experienced investors.
The probability of both making money on cryptocurrency and failing miserably is quite considerable. The future outcome is dependent on the scope of expertise, financial market skills, selected earning strategy, exchange rate volatility, etc. Occasionally a simple strike of luck becomes a decisive factor.
It is vitally important to approach the issue properly and decide what bitcoin earning technique is right for you, disregarding anyone's success or failure since the bitcoin earnings often depend on a proper and thorough approach to earnings as well.

Bitcoin earning tips

We made an effort to assemble the latest and most profitable alternatives for earning cryptocurrencies and bitcoin for you. Independently of whichever variant you choose, you should devote a lot of attention to a wallet for storing cryptocurrency, comprehension of a private key, and its storage.The selection of a suitable way of earning bitcoins is dependent on the following issues:
  • The ability and willingness to invest your own money;
  • Your goals (long-term prospects of maximizing profits, urgent withdrawals);
  • The technical possibilities of the user (availability of the necessary equipment);
  • Time availability.
Whatever type of earnings you choose – be aware of the risks, it is up to you to choose and only you decide what suits you and what does not.
Notify of

Inline Feedbacks
View all comments
Similar articles