How to Earn and Make Money with Bitcoin

By: Ofir Beigel | Last updated: 12/18/22

A lot of people are into Bitcoin and cryptocurrencies in order to brand a quick cadet. Today’s postal service is dedicated exclusively to ways yous tin earn Bitcoins for free or make money with Bitcoin.

Don’t similar to read? Watch our 2-minute tutorial instead

Earning Bitcoins Summary

While there are many ways you can make coin with Bitcoin in the end at that place are no free meals. Earning Bitcoins online take time and money and nearly methods promising free Bitcoins volition not be worth the fourth dimension wasted on them.

How can I earn Bitcoins for gratuitous?

Shopping rewards
Interest-bearing accounts
Staking
Micro earnings
Owning a faucet
Signature campaigns
Trading Bitcoin
Affiliate programs
Gambling
Writing about Bitcoin
Bitcoin-related services
Bitcoin Mining
Bitcoin Lending
HYIPs / Coin doublers
Bitcoin forks

Ways to Make money with Bitcoin

If you desire a detailed caption about all the methods out in that location keep on reading. Hither’s what I’ll cover:

How Can I Earn Bitcoins Online for Free?
Shopping rewards
Interest-bearing accounts
Staking
Micro earnings
Owning a faucet
Signature campaigns
Trading Bitcoin
Affiliate programs
Gambling
Writing about Bitcoin
Supply related services
Mine Bitcoin
Lend Bitcoins
HYIPs / Coin doublers
Bitcoin forks
Determination

Sentinel our detailed video guide here

ane. How Can I Earn Bitcoins Online for Free?

People tend to remember that because Bitcoin is a new course of currency, at that place is some magical way you can earn Bitcoins or make coin from it easily. I’thou deplorable to burst the bubble, but Bitcoin is just similar whatsoever other currency out there.

Only similar at that place’due south no easy, hazard complimentary mode to make a quick buck in that location’s no magical way to earn Bitcoin.

While cryptocurrencies in general may hold some new possibilities for generating income the basics are the same – you’ll need to invest time, or coin in order to make money.

I’chiliad going to cover 12 different means you lot tin can earn Bitcoins in this post. Each method I’ll comprehend will be graded according to the following factors:

How much endeavour does it accept to utilize this method?

How much money can be made through this method?

How risky is this method?

All of the methods I’ll go over are things I’ve actually tested myself, and so residual bodacious I’k talking from experience.

2. Shopping rewards

Attempt
–
Low

Income
–
Medium

Chance
–
Low

You tin earn free Bitcoin when doing your regular shopping online. Using shopping reward companies you need to download an extension to your browser, use it as a checkout on various brands and earn up to 30% cashback on your purchases.
This is a corking way to earn Bitcoins while shopping for stuff yous were gonna buy anyway.

Lolli is a Us shopping rewards company that gives users xxx% cashback in Bitcoin rewards when they shop online at over 1,000+ top merchants, including
Nike, Booking.com, Macy’south, Staples and more than.

CoinCorner is a United kingdom of great britain and northern ireland company that too supports well-known brands like Booking.com, O2, Europecar and Vodafone and also lets you earn Bitcoin rewards on cashbacks.

three. Involvement-bearing accounts

Try
–
Low

Income
–
Medium

Risk
–
Medium

If yous already ain cryptocurrency, you tin deposit information technology in an involvement-bearing account and gain interest on it. There are several companies that supply this type of service, the near pop ones existence BlockFi, Celsius Network, Crypto.com and Nexo.

Nearly companies that supply Bitcoin loans also let customers to lend out their Bitcoins for involvement. If, for case, you don’t need cash, y’all can still deposit your Bitcoins and receive annual interest on your deposit. This means your Bitcoins tin generate additional income for you, instead of merely lying around in your Bitcoin wallet. To learn more on how to earn involvement on your crypto, visit this page.

4. Staking

Effort
–
Low

Income
–
Medium

Run a risk
–
High

Certain cryptocurrencies allow yous to lock up a portion of your holdings in order to participate with transaction validation on their network. This is known as staking and it’s the energy-efficient culling to cryptocurrency mining. The more coins yous stake the higher your chances of beingness chosen as a validator and earning rewards. You can read our full guide on ‘What is Staking‘ to learn more about it.

Some popular cryptocurrencies that let staking today are Tezos, Cardano and Ethereum.

5. Micro earnings – Faucets, PTC, Micro jobs

Effort
–
High

Income
–
Depression

Risk
–
Low

One of the cheapest, easiest but also near fourth dimension consuming ways to actually earn Bitcoin is through micro earnings. This means that you’ll basically be doing small tasks and earning fractions of a coin for the fourth dimension you spend.

Some of the more well-known micro earnings sites are Bitcoin faucets – sites which y’all repeatedly visit every few minutes in society to claim a very small amount of coins.

Faucets are actually a subcategory of PTC websites, PTC pregnant “Pay to Click”. PTC websites will usually take you click on an ad or on a button on the site in order to make money from ad sales. In render you lot’ll get a small amount of coins.

How small?

From my calculations, if you piece of work non finish at clicking buttons y’all’ll boilerplate anywhere between v-xl cents an hour. Not sure that’s worth your fourth dimension or fifty-fifty the electricity for running your computer.

vi. Owning a faucet

Effort
–
Medium to high

Income
–
Low to medium

Take chances
–
Medium

While participating every bit a faucet user might not earn you a lot of money, owning your own faucet is a whole dissimilar story. Today, yous can build a cryptocurrency faucet relatively easily and earn coin from selling ads on your site.

At 99Bitcoins I ran my ain faucet for nearly 3 years until I decided to focus on other things. Depending on the advertisers y’all’re using and the amount of traffic y’all accept you tin brand up to $1000/month running a faucet.

However, running a faucet requires a reasonable amount of time and try. You’ll demand to set your own website, manage users, prevent fraud and also bring some initial majuscule to fund the faucet when starting out. Here’south my beginner’s guide to running a faucet.

7. Running a signature campaign

Try
–
Medium

Income
–
Depression

Risk
–
Depression

Somewhere around mid-2014, BitcoinTalk, a leading Bitcoin forum, started running signature campaigns. Simply put, you could utilise your BitcoinTalk signature to advertise a production and become paid for every post you write. The complete list of campaigns can be seen on the forum itself.

With a signature campaign yous become paid co-ordinate to your membership level on BitcoinTalk. Usually, anyone with a status less than ‘full member’ won’t become paid that much, if at all.

To become a full member, yous’ll need at least 120 posts under your chugalug. In that location are also limitations on posts; such equally length, original content, and more than. Sometimes, there’s also a minimum mail requirement per week.

From my experience you can make upward to $5 an hour depending on how much you write and your membership level. This, of course, does not include the number of posts you need to write in order to earn the required membership level on BitcoinTalk.

viii. Get a crypto trader

Endeavour
–
Medium to high

Income
–
High

Run a risk
–
High

Ane of the fastest, easiest but too riskiest ways y’all tin can make coin with Bitcoin is by trading information technology. Basically you lot’re trying to buy Bitcoin when the price is low and sell it when the cost rises.

However, trading Bitcoin successfully is non a matter of luck or guesswork. Profitable traders spend a substantial corporeality of time learning how to trade and how to overcome the many risks involved with trading. Successful traders know they might lose coin in the curt term but they look at it as an investment in their education, since they are aiming for the long term.

If you lot want to become a trader make certain you accept the time and capital to invest in good trading education.

9. Bitcoin affiliate programs

Effort
–
Loftier

Income
–
Medium to high

Gamble
–
Low to medium

Perhaps 1 of the almost disregarded ways to make money with Bitcoin is through promoting various affiliate programs. Affiliates are people who promote a certain business for free but receive a commission if they manage to bring in paying customers.

Many Bitcoin exchanges, products and services take an affiliate program in which you lot can sign up for. Yous then get your own unique affiliate link in order to promote that production or service.

Of class there are many ways y’all can promote your affiliate link – you can share information technology on Facebook, run ad campaigns on dissimilar websites or even set up your ain information site and promote your links inside the content.

This is really how 99Bitcoins got started, and I’ve even published a book almost it called “My Muddied Petty Bitcoin Secrets” which y’all can download for free. If you desire to know more than about this method make sure to download the book and read information technology from get-go to end – only then will you understand the amount of piece of work needed in guild to become a successful affiliate marketer.

Besides, here’southward a list of highly profitable Bitcoin affiliate programs which I take already field tested myself.

10. Gambling in Bitcoin casinos

Endeavour
–
Low

Income
–
Medium to high

Risk
–
Extremely high

A very obvious way of trying to increment your crypto wealth would be to gamble on it using i of the diverse Bitcoin casinos out there. Of course there’s non much to elaborate on this method but if y’all do decide to risk your money and endeavour your luck, please make certain the casino you lot’re using is provably fair.

A trustworthy Bitcoin casino will know that their “house border” is enough to brand a profit and therefore will want to prove to their players that they are not manipulating whatsoever results. They practice this through a mathematical algorithm involving cryptography.

Bottom line, a provably fair casino will testify y’all how to check that the results of the game you play are completely random. You tin observe a listing of provably fair Bitcoin casinos on our site as well.

xi. Write near Bitcoin

Effort
–
Medium

Income
–
Medium

Adventure
–
Low

If you’re into cryptocurrencies and have a knack for words yous might want to consider becoming a crypto journalist or article writer.

As the crypto industry evolves, more and more news and information websites are popping upwardly. In many cases these sites are in need of writers as they are publishing dozens of articles each week.

Since proficient writers are hard to detect, if you can submit quality work yous may be able to earn a nice revenue stream by writing about Bitcoin and cryptocurrencies from the comfort of your own abode.

The best ways to find work equally a writer would be to expect for the “jobs” section in your favorite crypto publications. You can also email specific sites you’d like to write for, or y’all tin create a writer profile on Upwork – an international freelance marketplace.

It’s all-time if you accept some sample articles on paw before applying for a writing job every bit many publications would asking previous work before hiring you.

12. Sell a related product or service

Effort
– Varies

Income
– Varies

Risk
– Varies

If you’re not proficient with words possibly there’southward a different service y’all tin can offer. The BitcoinTalk services thread offers a wide diverseness of services you can provide in exchange for Bitcoin. Some of these include developing a website, marketing an online product or fifty-fifty becoming an Escrow agent for Bitcoin transactions.

13. Mine Bitcoin

Effort –
Medium to loftier

Income –
Medium to high

Risk –
High

Many people that start out with Bitcoin are instantly drawn to the concept of Bitcoin mining. I mean, creating magical Cyberspace money from your home estimator? What could be better?

The fact is, that today Bitcoin mining has get more of a profession than a hobby. It requires extremely expensive mining equipment, high electricity costs, hardware configuration knowledge and concrete infinite to actually shop your miners.

Mining altcoins (eastward.m. Ethereum mining) is cheaper than what you’d need in order to mine Bitcoin. But this only means that the hardware will toll less. The other hassles of electricity costs, configurations, maintenance and so on are basically the aforementioned.

Sometimes yous’ll see a website or mobile app that tells you they will mine coins for you. Most of these services are pretty much useless and volition usually swallow your device’south calculating power and battery merely to give you a few cents in return.

Another option is cloud mining – paying someone else to handle the mining equipment for yous while sharing the profits. While this sounds ideal, most of the cloud mining sites today are just pretending to employ your money for mining operations, they are in fact scams.

Furthermore, while there are a few legit sites out there, the money you’d pay them to mine Bitcoin is probably better invested just buying Bitcoin (every bit can be seen with my Genesis Mining analysis).

Of course I urge you to practice your own market place research since in the end, it’s your money.

14. Bitcoin Lending

Endeavor
–
Low

Income
–
Medium to loftier

Risk
–
Extremely risky

A very popular manner of growing your Bitcoin wealth is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins for an interest charge per unit. Because these loans are ultra risky the interest rates are pretty loftier which initially seems similar a practiced affair.

I mean I tin can make 15% a year on my coins, what’s not to honey virtually that?

Well, if at that place is no bodily collateral that holds the borrower liable for the loan and more oft than non these loans default and lenders are left without their money. Some time ago I’ve tested out several uncollateralized loans here at 99Bitcoins, and they all eventually defaulted. That’s why I recommend to stay abroad from this specific method.

Ane site that seems to exist working for a relatively long time which I haven’t tested thoroughly is xCoins. While I can’t vouch for information technology personally it seems to be getting decent reviews.

Recently some new players on the market started to offer Bitcoin loans which are collateralized with the borrower’due south Bitcoin. These platforms as well let you to earn interest on your Bitcoins or stablecoins, only due to the collateral, it is a more than secured solution. Here I reviewed the best Bitcoin Loan sites.

As always, please exercise your own research earlier investing coin anywhere.

15. HYIPs and coin doublers

Effort
–
Low

Income
–
Medium to high

Gamble
–
Extremely risky

Another method I advise you avoid is money doublers and Loftier Yield Investment Programs also known as HYIPs. These are sites that merits to double your coins every few days or give you unreal interest rates.

What these sites actually do is take money from new users and use that money to pay off old users. This process creates a lot of buzz around the site that seems to be legit and solvent.

On pinnacle of that, they almost always have some sort of referral program so that users tin bring their friends on board.

This is how a Ponzi scheme works. This will go on for around 3-iv months until one day the website will just get offline and the money will be gone. No more payments volition be made and a lot of people will become mad that they got scammed.

I have reviewed several Bitcoin investment sites in the past three years and have yet to detect a site that I tin say is prophylactic to invest in. Any site that promises you something that is too good to be true is probably simply a facade for scammers trying to steal your coins.

How tin yous find out if a site is a scam for yourself? Easy, use the Bitcoin scam test tool to get a fair assumption well-nigh a site’southward legitimacy.

16. Claiming Bitcoin forks and airdrops

Effort
–
Medium

Income
– Varies

Adventure
–
Loftier
(especially for non technical users)

Starting around Baronial 2017 Bitcoin began “forking” into other coins. In a nutshell, forking ways a new “Bitcoin clone” emerges from the existing Bitcoin. Every person who held Bitcoin before the fork can now besides claim the new money as well.

The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and more. The process for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of how Bitcoin works. You tin can view my fork claiming guide here.

Go along in mind that if yous’re non sure what you’re doing when claiming a forkcoin you lot could end up losing your Bitcoins. So for most non technical users it would better to pass on a fork and keep your Bitcoins safe.

Other alternatives include companies that claim the coins for yous and accept a commission – only this could easily plough into a scam that runs away with your money.

Once you claimed a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market place.

Airdrops

Airdrops are like to forks in the sense that yous “get coins out of thin air”. Airdrops are usually used to spread the word virtually a certain cryptocurrency. The currency is distributed freely to the public, although in some cases some weather condition tin can apply.

For example, Byteball was distributed freely to Bitcoin users depending on the corporeality of Bitcoins they endemic.

To conclude, forks and airdrops may be the highest value for time method you tin can use to make money from your Bitcoins but they can be SUPER risky. Additionally yous’ll probably need to have an initial amount of Bitcoins to claim them.

I would suggest y’all to use these methods only subsequently ample research and a proficient agreement of the claiming procedure.

17. Conclusion

I’ve covered a lot of ways you lot can earn Bitcoins or make coin with cryptocurrencies. In the terminate each method has its pros and cons, some are more risky while others take a greater amount of endeavor.

In society to arrive easier for you to review what I’ve simply covered I created a table that illustrates the unlike methods.

Ways to Make money with Bitcoin

As y’all can see – there’s no easy, risk free style to make money with Bitcoin. The good news is that
it is possible, and if y’all put some effort into it you can find a lot of artistic ways to create new income streams.

You may however have some questions. If then, just leave them in the comment section beneath. And if you’ve tried out 1 of the methods above and want to share your experience with information technology I’d honey to hear information technology too.