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10 Practical Ways To Make Money With Bitcoin In 2020

10 Practical Ways To Make Money With Bitcoin In 2020

Contrary to people’s knowledge, getting bitcoin is easy, there are a number of ways to earn bitcoin online- some more popular than the others. There are methods that involve a minimal effort with the minimal return and others more lucrative that requires you to have better expertise in the industry.

1. Bitcoin Faucets

If you don’t mind looking at a few ads and answering surveys, you can visit a bitcoin faucet website. Generally, these websites generate revenue from advertisements placed on their pages. Those who visit their site and answer short questions or captchas will be paid from the small portion of their revenue. You can readily check one of the most popular faucet sites here: earn.com.

2. Pay To Click (PTC) Websites

There are several websites that will pay you in bitcoin if you watch an ad or click to a certain page containing ads. If you are ad immune and want to make quick crypto buck–this can be a good idea. Bear in mind, to make any significant money is still very hard work and a rather tedious task. BTC4ADS pays around 100 satoshis (0.00000100 ฿) and Coinadder pays around 25 satoshis per click.

3. Doing Micro Jobs

Much like Microworkers and Cloudfactory, which pay you a small fee to complete very simple tasks like watching a YouTube video or completing someone’s survey, there are several micro working sites that will pay you in bitcoin. Bitcoinget is the major player in this market which will pay you around 20,000 satoshis per task while there are several others like Cointasker that will pay you a slightly lower sum.

4. Help others, get tipped in bitcoin

You can also get tipped in bitcoin by helping other people. One of the most notable platform to do so is bitfortip, which tips bitcoin as an incentive for helping people. Bitcoin is a new technology and there are people who are genuinely passionate about it and excited about what is to follow so incentives like this help to build a positive vibe around the community and also help people solve their problems.

5. Gambling bitcoin

Though its not advisable to anyone, if you are self-aware enough, the bitcoin gambling market can still be a good source of income. Just like any form of gambling, the people in general always lose and the casinos always win but since bitcoin gambling is a very little heard of the term, you can get huge bonus for joining or even several rounds of your stake to start with. Sites like Bitstarz and mbit are major players in Crypto gambling business.

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6. Bitcoin Trading

There is potential to make big money trading bitcoin. Unlike buying and holding, trading bitcoin means you buy at a low price and sell them back at a higher price. This requires practice and knowledge of the market and to some extent a crystal ball. Given that the cryptocurrency market is extremely volatile, this method can be very risky.

7. Accepting Bitcoin as a means of payment

Bitcoin is, after all, a digital currency. So why not sell goods or services in exchange for bitcoin. This gives you the freedom to sell anything to anyone without going through any banks or financial institutions that may prevent you to do so. If you are already selling, why not accept bitcoin as payment. As a matter of fact, there is a massive list of businesses that accept bitcoin.

8. Make money with Bitcoin Affiliates

Affiliate marketing works when you generate sales leads for a product or service and the organization offering a product or service pays you certain commission for bringing in potential consumers who would otherwise not have been interested.

9. Binary Trading with bitcoin

Binary tradings have existed in the financial world for a very long time and did not take long enough to make a journey for that financial scheme to migrate to the crypto world. Binary–as the name suggests has just two options, a trader purchases an option and at the expiration time, the trader either is either “in the money” or “out of the money”. In its true essence, its not too much further from gambling or Russian roulette.

10. Being a master node

Bitcoin is usually used as an umbrella term for all the cryptocurrencies and though experts would say the return for being a bitcoin master node is not all that profitable, you can still serve as a master node for several other cryptocurrencies and get a reward for your service to the blockchain.