Cryptocurrency has been the talk for a long time. The crypto market has witnessed many fluctuations recently, and like other currencies, investing in cryptocurrency also has its own benefits and shortcomings.
Cryptocurrency is a digital asset that is encrypted with a technology to allow the transfer of funds independently between two parties without the involvement of a third party like a bank. Bitcoin is the oldest and most famous form of cryptocurrency. If you are someone who is planning to earn some money with bitcoin and hoping for some healthy returns, this article has got it covered for you.
Let’s look at some of these methods that can help you to earn profits:
Mining
This is one of the best methods to earn a lot of bitcoins. Bitcoin mining is a process where you have to solve complex mathematical equations or cryptographic puzzles that in return help you to earn cryptocurrency.
This method requires you to have a high powered computer that can assist you to solve the mathematical equations and add them to a blockchain that is also known as a public record ledger. There are two types of mining – cloud mining and personal mining.
Be careful of cloud mining sites as the majority of these kinds of services are ponzi schemes.
Earning with faucets
This is a method for micro earnings. What exactly are faucets? Crypto faucets are websites that pay you amounts of bitcoin for completing some tasks every day. You can get small earnings from these websites and the tasks include solving some quizzes or playing games, watching videos, clicking ads, etc. Adequate availability of time is required to earn bitcoins with these crypto faucets. Although the payout is not high, this is one of the easiest and safest methods to get some bitcoins.
Earn through cashback
Yes! You got it right. You can earn bitcoins in the simplest way like you earn cashback or “Bitcoin backs” while shopping online. All you need to do is:
- Download an extension to your browser, for eg- Lolli, honey.
- Checkout products of various brands.
- Earn cashback on those products in the form of bitcoin.
- Cashout to your favorite bitcoin wallet.
Affiliate programs
Affiliate marketing has become a major thing in today’s time. People get a good share of income for promoting products online, Then why not try this for earning bitcoins?
It is simple as a cakewalk and you just have to register yourself with any bitcoin affiliate program through a platform and you will get a unique link for yourself to promote the products or services. The promotion can be done on different social media platforms, your personal website or any platform that you prefer. In return, you get a commission amount when the promotion gets converted into customers paying for the product.
Earn interest on bitcoin
This method works like your bank account. You need to deposit your bitcoin in an account that provides interest. In this way, you can generate income from your bitcoin and they won’t lie idle in your account.
There are companies that provide services for lending bitcoins to earn interest. Some of them are – BlockFI, Nexo, etc.