An Easy Guide on How To Earn Bitcoins Online

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Over the past few months, the value of bitcoins has been skyrocketing. It has awoken special interest of regulators, the media and even speculators. Globally, the regulatory environment and reputation for bitcoins is steadily improving. This has prompted investors and speculators to invest heavily in this cryptocurrency. This article will enable you to learn different ways of earning Bitcoins.

Buy and hold bitcoins

First of all, you need a Bitcoin wallet if you want to start earning bitcoins. A Bitcoin wallet is used for sending, receiving and storing bitcoins. You can get this for free from online based service providers such as blockchain or Coinbase. These are the most commonly used wallets because they have mobile friendly versions. You could also use a cold wallet to store your Bitcoins. With your wallet, you can establish several Bitcoin addresses that will allow you to send, receive or transact in bitcoins. You do not require your real address address, and this is one advantage that cryptocurrencies have. Your private details are not divulged to anyone and you remain anonymous. All Bitcoin transactions are accessible for viewing on blockchain. By buying and holding bitcoins, you will be seeing your investment grow gradually. Those who bought and held bitcoins from its inception in 2009 are now 6000 times richer.

Also Read : Best Place to Buy Bitcoin

Bitcoin mining

easy guide on how to earn bitcoins onlineFor beginners, this is often not recommended because mining is a bit complex. Bitcoin mining refers to the process of using expensive and sophisticated machines that consume a lot of electricity for solving complex mathematical algorithms. The reward for this is bitcoins. This processing power is then shared by miners, and this allows transactions to take place. However, mining is no longer lucrative when done on small scale, and it is now shifting to large scale operation. To make money as a Bitcoin miner, you should consider joining a mining pool. Here, miners collectively work together by sharing their hashing power. Once a block algorithm has been solved, the miners share the rewards equally based on how much each individual contributed.

Bitcoin cloud mining

Apart from the actual mining, you could as well make some money through Bitcoin cloud mining. This refers to the process where bitcoins are mined in a remote data center where processing power is shared among several miners. This is the easiest way of mining since you do not have to invest heavily on the hardware. You can earn bitcoins without having the mining hardware, software or bandwidth. Genesis Mining is one of the most reputable companies involved in Bitcoin cloud mining.

Bitcoin Faucets

This is one of the easiest ways of earning with Bitcoins. Bitcoin faucet websites allow you to get paid for looking at a few online ads. These websites generate income from advertisements placed on their pages. As a user, you are paid a small percentage of the generated revenue. All that is required of you is to register with your Bitcoin address. After this, you will start earning everyday as long you click on the ads. This is not the fastest way of earning Bitcoins, but it allows you to own several bits of this digital currency for free. Among the most popular Bitcoin faucet websites are BTC clicks, Bitcoin Aliens and Moon Bitcoin.

Complete microtasks for Bitcoins

Some platforms allow users to earn through Bitcoins. For instance, Bituro is a smartphone application that will pay you in bitcoins for completing small tasks such as testing other apps, filling out surveys and watching promotional videos. With Bitcoin Reward, you will in earn in Bitcoins by watching promotional videos, downloading and testing mobile phone applications. With Coinbucks, you will earn in bitcoins for watching promotional videos online, downloading mobile apps and playing mobile games.

Day trading

This is based on financial markets trading strategies. It’s all about speculation. It involves analyzing the trend performance of the Bitcoins and determining when prices are low. You then buy at this point and anticipate an increase in price which will generate a margin for profit. Once the prices appreciate, you sell. However, you must first have a good understanding of price dynamics and markets trends for you to succeed. You have to closely monitor price movements of this cryptocurrency before deciding to buy or sell. For instance, if you bought bitcoins worth $5,000 in January 2017, by December 2017, your investment would have grown to about $20,000. No other investment has the potential of giving this much in returns.

Related Article : Best Online Broker To Trade Bitcoin

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