Bitcoin has become a reality in today’s world. For the longest time, governments and institutions brushed Bitcoin and the cryptocurrency market aside by calling it a bubble, a fad and whatnot. But over the years, Bitcoin has stood its ground and proved that it is here to stay while amassing a large community onto its side.
There was a significant change in the situation in 2017, following the Bitcoin bull where one BTC was worth close to $20,000 USD. A lot of interest was built because the returns that investors were getting from Bitcoin were unheard off. It also lead a whole new change in market demographics by attracting a whole bunch of newcomers.
But since the opportunities with Bitcoin have skyrocketed. And there are n number of ways to earn Bitcoins nowadays and even more ways to spend them. Bitcoin, with no inkling of doubt, is one of the most liquid digital assets right now. It is also one of the most valuable. To that effect, are there any easy, quick ways of earning Bitcoins without really having to work for it? Is there a way to get earn Bitcoins for nothing?
Here is a list of ways you can earn
Free Bitcoin in 2019.
This is one of the easiest ways to get Bitcoin. When you mine your own Bitcoin your computer is solving a computational problem and when it does successfully, the miner gets a reward.
Bitcoin mining is the process of adding a group of transactions onto the Blockchain. It is a trial and error process in which the computer tries to match a hash that is auto generated by the software. When the hash matches, the transactions are added onto the Blockchain and a reward is released.
Bitcoin mining requires a lot of computational power. With the number of people increasing on the network it is becoming more and more power intensive and hence it has become impossible for an individual to mine am entire block.
Owing to the large number of people on the Bitcoin network and the large amounts of computational power that is required to mine Bitcoins, a lot of people come together in groups and mining pools to mine a block and split the profit. While the reward in this is a lot lesser, it is still a way to make yourself a couple of Bitcoins.
In the early days the mining reward for one block was around 50BTC, but with time and a lot more people on the network, the mining reward has come down to less than half of that to about 13BTC.
To know more read: Cryptocurrency Mining: The Ultimate Beginners Guide
Day trading is a popular way that is employed by a lot of people to earn Bitcoins. What day traders typically do is buy a whole bunch of altcoins at a low and then sell them when they go high.
Day trading is making the most of the highs and lows of a particular asset within the span of a day. It essentially comprises of buying crypto coins and tokens at a low and selling them at a high. Day trading is very time intensive, it requires a good five to six hours dedicated to it from marker open to market close.
In the cryptocurrency market day trading is similar. But depending on the exchange you use, you can win some satoshis in return of crypto day trading. When an altcoin or any cryptocurrency is sold at a profit, the user gets an amount in Satoshis. By repeatedly doing this, you can amass yourself a good number of Bitcoins by just selling altcoins at a profit.
To be an effective day trader, it requires a lot of reading up and sound analytical skill. The process of day trading is also quite intuitive. It also requires a lot of time and dedication. Day trading is the most arduous of all trading as from the market opening time to closing time you will have to stay alert. It isn’t as easy as identifying highs and lows, but with a little practice, as with most things, it will become a lot easier.
To know more: Top 6 Crypto Trading Strategies
Lend Your Money
There are a lot of peer-to-peer lending sites and platforms that are available in the cryptocurrency market right now. These platforms give a return of a decent 12-17% interest on investment.
So if you have been HODLing a good number of Bitcoins, this could be a goodway to put your Bitcoin to some use. In doing this there is literally no user involvement, as you just lend your money and the platform gives you returns in the form of interest.
The lending community for Bitcoins are very open and transparent. The sector is quite large and risk free. There are two sides to the lending environment. The lenders and the people who need money. The lenders essentially just lend their money to people in need and earn interest out of the repayments. Most of these platforms are peer-to-peer and also global setups. Since these setups are peer-to-peer they do not have to change as per restriction and regulation of individual countries.
The safest and most reputed platforms for lending services are: BitBond, BTCPOP, Nebues.
This is a good way to put your Bitcoins to work and make sure that you as the user can make some interest. The interest rates are also quite competitive as they range between 12-15% on the reputed lending platforms.
To know more: Top 7 lending platforms on the blockchain
This is probably the most risky way of earning BTC because there isn’t assured gains and the loss can be catastrophic. But online games where you stake bitcoins as a bet is a good way to earn Bitcoin. There are many online games where people can stake their bitcoins in exchange for a bet.
The losses can be high in this space, but so can returns. It is an easy way to earn BTC and is also one of the most riskiest ways. There are many online card games and gambling portals where users can make some Bitcoins.
There are many startups in the cryptocurrency field too that cater to this kind of spending and earning. The popular ones have gambling opportunities as well. The best-known gambling and gaming startups in the Blockchain industry are; ZeroEdge, SP8DE, Gamblica, etc. The type of gambling that these sites and games offer are high risk and high reward.
To know more: Top 5 Gaming based Cryptocurrencies to Invest
Work For Bitcoin
While this is not exactly earning Bitcoin for free, this is an option to increase your bitcoin holdings. There are a lot of tasks and jobs that are up for grabs that pay a decent amount of Bitcoins.
There is a large demand for engineers in these spaces and they can get involved in however small a way as possible and earn BTC in return. The roles available, however, do not require the applicant to be an engineer in specific. It does not matter which profession field you are in, there are openings for you at Bitcoin. Some of these platforms are:
Some of these platforms are:
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