The generally perception out there is that Fiat currencies must be converted to Bitcoin to have a stake in it.
With more creative ways to make money especially online, you too can earn Bitcoin and other Altcoins passively without spending a penny.
If you’re eager to earn Bitcoin but wary about the perceived financial demands, I will show you legit ways to earn Bitcoin with no upfront financial commitment.
Add Bitcoin as a Payment Option on Your Store
If you own a business online, either an affiliate site, ecommerce, SaaS…adding Bitcoin as an optional means of receiving payment is a smart thing to do.
All you need to do is to sign up with a cryptocurrency broker to get a digital wallet where your payments would be sent to.
The broker automatically creates a digital wallet with an address and private key.
A wallet address ranges from 26 – 35 alphanumeric characters. Your wallet address formats could look like this:
- P2PKH which begin with the number
1, eg:1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2. - P2SH type starting with the number
3, eg:3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy. - Bech32 type starting with
bc1, eg:bc1qar0srrr7xfkvy5l643lydnw9re59gtzzwf5mdq.
Source: Wikipedia
With a verified wallet address, you can use to send and receive payments in Bitcoin.
Opensource CMS like WordPress, Shopify, Big commerce, and Magneto have integration APIs or plugins to enable cryptocurrency feature on your website.
These WordPress plugins are ideal for Bitcoin payments:
2. WordPress Bitcoin Payments Blockonomics
3. Nomiddleman Bitcoin and Crypto Payments
You can seamlessly integrate Bitcoin on your store with a simple phrase like “Bitcoin is Accepted Here!” neatly placed on the header or footer of your website.
You can place this at the footer of your site to notify visitors to consider paying you in Bitcoin. You could offer discounts on payments through Bitcoin only.
Join an Online Marketplace to Earn Bitcoin
This is one of the very easy ways of earning bitcoin while leveraging on your skills alone.
Online marketplaces are expanding every day with increasing number of tasks posted by various users all over the world in other to engage freelancers.
For example, Fiverr and Upwork are very popular online marketplaces for users to get articles, videos, designs, SEO and more done.
In February 2014, Coinbase announced its partnership with Fiverr. It called Fiverr “The First Largest Services Marketplace to accept Bitcoin”.
This means that freelancers can now receive payments in Bitcoin which is good news.
Upwork still doesn’t accept Bitcoin directly, you would need to convert your Bitcoin to Fiat currency to pay or receive on Upwork.
Other websites that accept Bitcoin include:
NameCheap
CoinCard
Starbucks
NewEgg
Overstock
Microsoft Xbox store.
Refer New Users to Cryptocurrency Investing to Earn Bitcoin
Becoming affiliates with crypto related online companies is a very lucrative way to earn bitcoin.
For instance, AvaTrade, Coinbase, eToro, InstaForex have affiliate programs that allow qualified affiliates promote its products to a new audience.
These companies’ payout fantastic commissions to their affiliates for good referrals. Instead of receiving your commissions by check or transfers through PayPal or Payoneer, you could opt for Bitcoin.
Overtime, your digital wallet gets good traction with Bitcoin.
Open a Cryptocurrency Interest Account to Earn Bitcoin
As your Bitcoin wallet begins to receive payments, multiplying your coins through periodic interest payments makes a lot of sense.
For example, Blockchain.com offers interest payment on its website to Gold level users. See requirements here.
There are Silver and Gold levels on its plan. To qualify for interest payments, you need to upgrade to the Gold level status which involves verification of account, identity and belonging to a supported country.
Residents of Canada, Japan, New York and Washington DC are not allowed to earn interests on its blockchain wallets.
There must also be a minimum of $300 worth of transfer for Bitcoin or $100 for Ether, Tether, USD Digital to their wallets to get started.
Once you navigate to the earn interest section, you would have access to the interest earning calculator to know your expected interest earnings.
SEE ALSO: Top 10 Cryptocurrencies Revving Up the Market in 2020
View Paid to Click Ads (PTC Ads) to Earn Bitcoin
Paid to Click Ads online business model pulls traffic from people who choose to earn money from home.
PTC websites stand as intermediaries between the advertisers and their target audience.
PTC websites bridge the gap and make these Ads easily accessible to users. Advertisers pay PTC sites to speed up the outreach.
PTC sites generally pay around $0.001 to $0.01 for every single Ad you view. The longer the duration of the Ad, the more money you earn from your viewing.
Earnings are credited instantly to your personal account.
You can view Cointiply if you’re interested in PTC Ads.
Take Online Surveys to Earn Bitcoin
Many companies online are looking for representatives to help them conduct online surveys to improve on their products or services.
Survey tasks are always in high demand and usually outsourced.
This is the way it works.
- Search for many surveys online and take up survey tasks or topics that interests you.
- Search for methods of payment. Since we are interested in cryptocurrency (Bitcoin), restrict your search to these ones.
- Follow requirements to get approved. From findings, many will get back to you if your meet their criteria. Also note that some surveys are region restrictive and applications are only approved for residents.
- Once approved, get to work, complete and submit.
- On approval of your submission, you get an instant in-app reward in Bitcoin.
These are a list of some survey companies that make payment in Bitcoin.
Become a Bitcoin Miner to Earn Bitcoin
I chose to add this because Bitcoin mining is still very lucrative. However this requires investment in computing hardware or subscribing to a mining third-party provider.
Mining Bitcoin is simply securing or validating a single Bitcoin transaction into the blockchain network. The job of a miner is similar to that of an auditor.
The blockchain network thrives on the mining task of miners who gets rewarded for the task of mining.
Before the 2020 Bitcoin halving that occurred in May 2020, miners earned 12.5BTC per 1MB of transaction (A completed block).
Bitcoin’s halving reduced the reward per block in halve. This therefore means that miners will now earn 6.25BTC until the next halving which will occur in the next four years.
Final Thoughts
Bitcoin touched an all-time high of $20,089 in December 2017 after rising for the first time in 2010 from 0.0008 to 0.08. Analysts have projected that the Bitcoin could reach a breakout point of $50,000.
Bitcoin’s astonishing performance has drawn the interest of many, making it a desired digital asset to hold and trade.
Unfortunately, the Bitcoin rush is over and many are unable to afford a coin, but buy it in fractions with the USD.
Bitcoin’s acceptance in many economies of the world has positioned it as a pace setter in the crypto-space. Businesses are now warming up to the ownership of Bitcoin. Some are divesting some idle funds to cryptocurrency ownership and investment.
With the tips mentioned above, you too can creatively earn Bitcoin without going through the Fiat to Crypto conversion path.
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