How to Earn Bitcoins: 11 Best and Legit Ways | Guideinfo.in

Bitcoin is one of the most sought after items on Google right now. Now the first question that comes to your mind is- What is bitcoin?

On 31st October 2008, Satoshi Nakamoto (the name of one person or group of people) began to establish the name. They described bitcoin as, "The peer-to-peer form of electronic money will allow online payments to be sent directly from one party to another without going to a financial institution."

Bitcoin is a cryptocurrency that has no physical status and only works online. There are 5000 different cryptocurrensets on the market. Currently, one bitcoin is worth $ 10,700.40. this article will teach you how to earn bitcoins.

earn-bitcoins


In plain English, bitcoin is nothing but a digital currency without a bank. People can transfer bitcoin anywhere online (even to strangers).

Bitcoin transactions do not involve government authority. All bitcoin transactions that take place online are registered on Blockchain. Unlike banks, you can look at everything made with bitcoin online (although personal identity is always hidden).

In this article, we will analyze bitcoin, its benefits over paper money, and official ways to lead bitcoin.

History of Bitcoin

Bitcoin is certainly the first cryptocurrency. After it was launched, several other cryptocurrensets were introduced to the market. From now on, cryptocurrency is a common term for all digital and shared currencies available in the market.

In January 2009, Satoshi Nakamoto released the source code so that people around the world could start digging and trading bitcoin.

Difference between fiat money and bitcoin

Bitcoin and fiat currencies differ in several ways. Let's look at the big difference.

  • Fiat fees (or government-approved fees) are at the same level. It means that the country's government controls money. On the other hand, bitcoin has been transferred elsewhere. It means that no government has authority over them.
  • Fiat money is not limited to numbers. It means the government can print a lot of money. This leads to inflation (goods and services are more expensive and the value of that money decreases). Bitcoin, on the other hand, is limited in number. There are 21 million bitcoin, of which only 2.8 million are mined. This increases the value of bitcoin as time goes on.

  • Fiat currency transactions are not for public display. Banks keep transactions on their computers protected. This seems to lead to corruption.

When it comes to bitcoin, the process is clear and the data is stored on certain computers called nodes. The various channels connect together and share information. The role of the node is to share information, follow certain rules, and keep a copy of all transactions that take place online.

Advantages of bitcoin over fiat money

Bitcoin has more advantages than paper money. Bitcoin solves one of the most common problems with paper money, that is, it solves the problem of spending money twice. A digital error is reported when the same token can be used twice.

This causes inflation. With bitcoin, it doesn’t happen.

Bitcoin has one book known as Blockchain. Here you can see transactions, create a wallet, and gather a deeper understanding of bitcoin and other cryptocurrensets.

Bitcoin is ubiquitous, with the same value in all countries.

The bitcoin trading process is simpler than fiat currency.

It has a much lower purchase price than fiat fees. Banks charge extra fees for doing the same.

In bitcoin trading, users are not required to share their identity or confidential information.

11 ways on ‘How to earn Bitcoins?'


earn-bitcoins


Now that you know what bitcoin is all about, you might want to know how to make money with bitcoin on your own. There are official ways in which you can earn bitcoins. Some of them are beneficial, some of them safe. Always remember that where there is a high profit, it includes a balanced and high risk.

Without wasting too much time, let’s get on the list and analyze ourselves in terms of profit, effort, and risk.

1. Bitcoin mining

Bitcoin mining was often an easy process if not popular. After bitcoin became popular and became a household name, everyone wanted to have some bitcoins. These days, bitcoins in mining are a big deal. It requires expensive computers that can solve complex mathematical problems.

It is a matter of luck and technology. Some people even hire cloud miners to help them get bitcoin.

Bitcoin mining is very profitable, but it also requires high effort. Bitcoin mining is expensive and also involves a lot of risk.

The chances of you getting bitcoins in bitcoin mines alone are 16 trillion.

The task of the bitcoin miner is to solve complex problems and create a new bitcoin. Problems with statistics to make payment safer and more reliable.

To learn more about bitcoin mining, read this expert paper.

To save yourself some time, read this bitcoin mining article.

2. Become a Bitcoin Affiliate

You must have heard about affiliate marketing. It is one of the easiest ways to make money online. When it comes to bitcoin, affiliate marketing also works. The purpose is to produce clues.

You can sign up for bitcoin-related websites and they will pay you compensation for bitcoin.

Signing up for an interactive program is easy. Visit bitcoin related websites and sign up for the compliance program. You will find a different link (product or service) to share. Every time someone uses your unique link to make a transaction, you will receive a certain percentage (say, 10%) of compensation back.

Some popular affiliate websites are

Coinbase - Coinbase, you will receive 50% compensation for the first three months.

Ledger - at Ledger, you will receive 10% compensation.

Trezor- in Trezor, you will get 12-15 percent of each sale.

Coinnama- eCoinnama, you can get 15 percent of each sale.

It is one of the easiest ways to get bitcoin. You can promote these websites on your blog or social media platform.

Bitcoin affiliate marketing requires high effort, and the risk involved is very small. Once you are successful, you can earn a high profit this way.

3. Crypto blogging

If you like to get information on various cryptocurrensets, and like to spread your knowledge, crypto blogging is a must try. There are thousands of blogs posting daily on bitcoin and other cryptocurrensets like Ethereum and Ripple.

It is very popular as many people want to know and invest in bitcoins. Crypto blogging can also help you make more money through affiliate marketing.

What are you waiting for? Combine your technical and creative skills and start a blog on cryptocurrency.

Some of the most popular crypto blogging websites-

  • Cointelegraph
  • Coindesk
  • Bitcoin News

4. Signature campaign

Around the world, millions of people are enthusiastically discussing such platforms as Bitcointalk.

On Bitcointalk, you can run a signature campaign and earn a steady income. You can always post in the forum and get a good following.

By doing so, your post may receive sponsored signatures. Sponsors will pay every time you upload your content.

With a signature campaign, you can make good money depending on your membership.

Doing a signature campaign is no small risk and requires moderate effort. The only thing that matters is your consistency and participation.

You can get decent bitcoin pieces this way.

5. Trading bitcoin

Bitcoin trading is a risky venture but gives you a better profit. Trading means buying something (here, bitcoin), and then selling at a higher price.

It requires in-depth digital currency knowledge. And enough information. It was a huge advantage for those who bought bitcoin at a cheaper price years ago. After bitcoin became expensive, these traders made a huge profit. Other bitcoin trading websites mentioned below-

  • Coinbase
  • eToro 

6. Micro-earnings via bitcoin faucets

Bitcoin taps websites pay you for clicking ads. These websites let you click and retrieve it in the form of bitcoin fractions.

When you are ready to spend some time clicking on the ads, you should try.

Please keep in mind that this way to lead bitcoin is slow. To make a decent amount of money, you must try hard and have enough patience.

Most websites charge about 25-100 satoshis per click. 100 million satellites make one bitcoin.

It involves minimal risk but you have to put in the best efforts even for the extra benefit.

7. Create a new faucet

If you are not interested in spending many hours clicking on ads and doing just a fraction of bitcoin, then you should consider making bitcoin taps.

The bitcoin tap is a website that pays people for viewing and clicking on ads.

But for that, you need to invest time and money. To gain trust, you must protect against fraudulent websites.

It takes a lot of effort and you get a middle profit. The risk involved in this approach is also moderate.

To find out more about how to build bitcoin taps, find out here.


8. Gambling bitcoin

Gambling is always a risky business, but those who want to earn bitcoin money also try to gamble again.

Gambling is a matter of luck, therefore, you should leave everything to your luck.

It is a little known name. There are many gambling sites that offer you bitcoin if you win. Most of them are illegal. Other official websites-

  • Bitstarz
  • 7BitCasino

9. Bitcoin lending


The best thing about bitcoin is that it doesn’t need a third party. If you have things you can keep, you can lend them to those who need help. With this, you can determine the value of your interest and make money from it. You can use this money to get more bitcoin.

Some popular bitcoin lending websites-

  • BlockFi
  • Missed money


10. Accept bitcoin as a tip


Yes, you heard right, you can accept bitcoin as a tip. You can provide services to your client. I can pay you bitcoin.

There are platforms where people can give a tip by helping them. Not good?

When you're ready to help people, you can try this forum.

One such website is Tippin.me. Here, people can give you a tip on your services in the form of bitcoin.


11. Read books and make bitcoin


Wouldn't it be nice if you were paid to read books? It’s a great book geek. There is a website called paid subscriptions when you read an old book like Ivory Trail, Pride, and Prejudice, etc.

You can try it if you can read books online immediately.

How to avoid risk while looking for bitcoin


Millions of people dream of earning bitcoin without spending their money using illegal means. Some of them killed other people and tried to rob them of their bitcoin. You can avoid that trap if you take the following steps.

1. Avoid cybertheft: Cybertheft occurs when someone tries to hack your wallet. It happened mostly during the mine. Also, protect your wallet key at any cost. Once you've forgotten it, it's almost impossible to get it back.

2. Avoid bitcoin fraud: If you do not have bitcoin yet, you should be careful before looking for it. Take out all offers / ads that sound too good to be true (especially fake). Everyone wants to get bitcoin these days, and, there is a good chance that fraud will get closer than real.

3. Be careful withholding bitcoin: People make bitcoin by solving complex mathematical problems. Sometimes honest miners can't stop the problem because the mining pool hides it with the help of computer power.

In this way, some people get nothing even though they work hard.

4. Think before you dive into the world of bitcoin: Bitcoin is really interesting, but it came into existence 12 years ago. The future of bitcoin is not predictable yet. Before buying bitcoin, it would be better if you have in-depth knowledge of it.

The future of bitcoin and other cryptocurrencies

Cryptocurrensets have changed the world in many ways. They will continue to change the future. Every second, hundreds of people buy bitcoin, and this will continue in the future. After bitcoin, many more cryptocurrensets were introduced.

People are showing interest in bitcoin as it protects their privacy. However, the system needs a lot of upgrades. In the future, unexpected changes will occur. Some people even predict that cryptocurrency has the potential to convert fiat currencies.

Bitcoin has changed the world of crypto. After bitcoin, there were many other cryptocurrensets.

According to Investopedia, there are over 5000 cryptocurrensets on the market. Other popular names in the crypto world are Ethereum (ETH), Chainlink (LINK), Basic Attention Token (BAT), etc.


Disadvantages of using bitcoin
 


You should always look for the good aspects of something. But you must not ignore the bad. You know the benefits of bitcoin better than fiat money. Now, it’s time to shed some light on the flaws of bitcoin.

1. Bitcoin tends to fluctuate: In March 2010, the value of bitcoin was $ .003, today rising to $ 10,684.50. There is no guarantee of its value and it could be damaged and increased at any time in the future.

2. Not everyone accepts bitcoin: Only a handful of people accept bitcoin as money. People's interest in bitcoin has skyrocketed, but it will take longer to become as widely accepted as fiat currency.

3. It does not have a physical form: Bitcoin does not have a physical form, so in the event that someone wants to make a physical transaction, they should convert it to fiat currency.

4. Lack of consumer protection: When someone pays with Bitcoin, they cannot postpone the transaction. Sometimes, retailers don’t offer the promised products but what happens happens. In this case, the buyer may lose.

The conclusion

In this article, you will learn how to earn bitcoins. Bitcoin has great potential and, every second, more and more people are buying bitcoin online. It solves many problems fiat money could not solve.

With each passing day, cryptocurrency is becoming more and more popular among people around the world. In the future, there will be more cryptocurrencies and more people will invest in them. That’s why it’s important to get first-hand information about who they are, especially the first cryptocurrency ever to be Bitcoin.

To know more about how bitcoin originated and how it works, you should read the first paper published by Satoshi Nakamoto.

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