How to Earn Bitcoin Online

How to earn Bitcoin online

Bitcoin is the most popular cryptocurrency on the market right now. It thrives on its tax-free essence and high demand. These two aspects make it the highest valued form of currency in the world sitting, as of this article’s writing, around $4,634 per BTC. Because of this, it’s very an excellent idea learning how to earn Bitcoin.

There are many ways you can earn Bitcoin online as it is on the internet that they are brought into existence, and thus all methods you can obtain or make Bitcoin are found online. But before you make riches, make sure to get yourself a cryptocurrency wallet. Once that is down we can dive into how to earn Bitcoin online:

Why Bitcoin?

 

Mining

Before we move into how to earn Bitcoin online through investment and trading, we must start where all Bitcoins are created, the Bitcoin blockchain.  Bitcoins are brought into existence thanks to miners solving blocks in the blockchain.

The way miners do that is by lending their processing power to keep the Blockchain (the ledger where all Bitcoin-related transactions are recorded) working while at the same time “mining” blocks. A miner primarily searches and verifies operations while trying to solve the encryption in the block. A block is just a group of registered transactions that have not been verified. Whichever miner solves the encryption of that block first, submits their block verification and is rewarded with valuable BTC.

Mining is a very power-consuming effort, and thus miners create mining groups that mash together the community’s computing power into a single “processor” that will perform the mining operations. Mining pools allow miners to increase their chances to get rewarded with the newly created Bitcoins by successfully mining a block.

Website tasks

Mining is a very demanding process and can take a huge toll on your electricity bill. It can even damage your personal computer if it’s not well-suited for GPU consuming task.

Thus, one of the most popular ways people use to looking for ways as to how to earn Bitcoin online is to perform tasks like watching adds, answering questions, surveys, trying out apps, visiting websites, and the like.

These won’t yield significant results as the earnings themselves are very minimum. On average, you will get around $1 or $2 per hour, sometimes less and rarely more from these sites. However, this is the usual starting place for most Bitcoin entrepreneurs as it offers an easy first contact with cryptocurrency wallets and the cryptocurrency itself. This helps in getting used to handling such a relatively new concept as it is the Bitcoin.

If you are interested, you can visit these websites to get started:

  • BitVisitor
  • freedigitalmoney
  • Bitfortip

Trading

The most rewarding method for how to make Bitcoins online is not to engage in mining, but rather Bitcoin trading. That means either by accepting Bitcoin as payment for goods and services or by trading them as stock traders do on Wall Street.

There are several websites such as Bitify (Also known as “the eBay of Bitcoin”, previously named CryptoThrift) that facilitate Bitcoin transactions by setting up a market platform which gives you the option of selling goods in exchange for Bitcoins.

And on the other hand, you can buy and sell Bitcoin just like you would buy any other currency on website based exchanges like:

  • Kraken
  • Coinbase
  • Gemini
  • BTCC
  • LocalBitcoins
  • Poloniex

Michael

We believe Bitcoin has importance past it’s monetary value. Decentralized systems have applications beyond economic theory. Keep following us, even if everything we write doesn’t interest you our plan is to keep you interested. The future is now!

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