Learn how to earn Bitcoin (BTC) through mining, trading, freelancing, airdrops, and incentivized social media.
Following the SEC’s approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. in January, the world’s largest cryptocurrency by market cap has increasingly become more popular. Many may want to own a piece of Bitcoin, but with it currently priced at more than $65,000, buying the cryptocurrency is outside many people’s reach.
However, there are several ways to earn Bitcoin and slowly grow your stash over time. In this article, we look at some of these methods.
Getting started
Before embarking on your Bitcoin-earning journey, you’ll need to open a Bitcoin account where you can store the funds you earn. Bitcoin accounts, or wallets, are software applications or physical devices that allow you to send, receive, and store Bitcoin.
Once that is in place, you can start actively exploring the Bitcoin earning methods we’ve outlined below.
Earning Bitcoin through mining
Bitcoin mining is the process of validating transactions and adding them to the Bitcoin network. In the process, miners compete to find a specific solution for a complex mathematical problem using powerful computers.
Whoever solves the problem first gets to validate and add the transaction block to the blockchain. In return, they get rewarded with new Bitcoins as well as the transaction fees paid by users.
Bitcoin mining was one of the few surefire ways to earn Bitcoin during the early days of cryptocurrency. However, Bitcoin halvings have reduced the reward miners get for validating transactions.
Combined with increased mining difficulty and the need for expensive mining rigs with huge energy requirements, mining Bitcoin on your own is no longer commercially feasible. However, you could opt to join a mining pool. In that way, you can combine your computational power with others and get rewarded based on your contribution.
Participating in Bitcoin faucets
Those wondering how to earn Bitcoin free could use a crypto faucet. This is a platform that allows you to earn small amounts of Bitcoin (or satoshis, the smallest unit of Bitcoin) in exchange for doing micro tasks like playing a game or watching a short ad. While small, the rewards can eventually accumulate into something more substantial over time.
How do crypto faucets work?
You need to create an account on the crypto faucet platform and connect it to an existing crypto wallet. These platforms are typically available either in your browser or as a mobile app.
Once you have an account, you can start earning fractions of Bitcoin by completing small tasks, such as playing simple games, reading articles, watching short videos, or completing surveys. You can also earn extra rewards by inviting a friend through a referral link or code.
After you have accumulated enough rewards to reach a minimum threshold, you can send them to your crypto wallet.
Examples of crypto faucets
Some popular crypto faucets include Coin Hunt World, a geo-location game that lets you earn Bitcoins by physically exploring the city you live in, and Cointiply, which lets you earn crypto rewards by taking surveys or watching videos.
Bitcoin Aliens is another popular faucet. It is an adventure game available on mobile that allows you to earn satoshis with each milestone you reach in-game.
Bitcoin trading
Faucets may allow you to earn free Bitcoin, but they are inordinately slow for someone looking to make large sums quickly. For those interested in how to earn Bitcoin fast, you may do so through trading. There are several ways to go about it, including day trading, swing trading, and arbitrage.
Day trading: Here, you take advantage of the extreme, short-term volatility in the crypto market, including both upward and downward trends. Instead of holding your coins long-term, you enter and exit the market daily, aiming to profit from short-term price fluctuations.
This method of earning Bitcoin…
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