The demand for Bitcoins keeps increasing as people realize the purchasing power available to them with just a Bitcoin. With the increase in the demand, people have come up with ways to earn this sought out crypto. Some ways are genuine while others are scams. Earning a substantial amount of bitcoins is not easy, however, with hard work it is possible. That is why it is crucial to go through legit and some low-entry barrier methods to earn Bitcoins.
Top 5 ways to get free Bitcoins
- Working for Bitcoin
It is the most legit way to earn Bitcoins. In whatever career you practice; engineer, writer, graphic design, translator, or developer, being an employee of Bitcoin remunerations come in Bitcoins. There are many Bitcoin services that people would pay for. Some platforms that offer such payments include Coinality, bitWAGE, Jobs4Bitcoins, 21.Co, Angle.Co, XBTFrelancer among others.
- Bitcoin Faucets
These are programmed site that rewards you in small fractions of Bitcoins in particular intervals for solving captchas. You need to enroll yourself in several bitcoin faucets for you to get a substantial bitcoin amount. The amounts paid are measured in ‘satoshi’ but the base currency is bitcoin usually 0.000001 to 0.00001 bitcoin. The good thing about this is it can be done to kill time and anywhere. However, it is not encouraged for people with fulltime jobs.
- Bitcoin Mining
Bitcoin miners are the people who made the most earnings from bitcoin. They solve complex mathematical calculations so as to get bitcoins from a blockchain. Mining offers a very attractive reward but for you to make it in mining currently, the investment on machines and pieces of equipment is very heavy hence raising the break-even point significantly. For those who make it, they join a mining pool and download the mining software and click on ‘mine bitcoins’ and leave the machine on to continue mining.
- Lending and Earning Interest from Bitcoin
There are Bitcoin Banks that you can lend money to on interest. They form the peer-to-peer lending platforms that are safe and reliable. Carry out sufficient due diligence on any platform you want to lend your bitcoins to. Interest rates range from 10-30% pa depending on the bank or platform you are using. You can also choose to lend to a person directly as it is easy though a risky way to earn free Bitcoins for yourself. The Bitcoin lending space is not highly regulated hence choose diligently. Here are some reliable sites BitLendingClub, Bitbond, BtcJam, and a number of others.
- Trading Bitcoins
This is the most efficient way to earn more bitcoins if you already have some. You need relevant knowledge to enable you to make market analysis and engage in profitable bitcoin trading. Trading works with the basic concept of diversifying your investments by buying when they are cheap and selling when the prices hike. To begin with, you can start by monitoring your favorite cryptocurrency prices in different exchanges. There are also various trading options available for you e.g. Bitcoin day trading, Bitcoin CFDs or Bitcoin Binary Option. Start with a little and move to more Bitcoins when you are confident enough.
As we mentioned 5 ways to get free bitcoins, there are many other ways to earn Bitcoins but regardless of the method you use, ensure that the platform or site you are using is secure to sell, purchase and store your Bitcoins. Depending on your knowledge and capability, choose a method that will enable you to not only earn but multiply Bitcoins successfully.