Bitcoin and other cryptocurrencies are a very popular investment, and there are various options to earn besides buying one. Also, we can see than there is a higher interest from people currently because there are serious indications that the global economy is going to suffer another recession, and cryptocurrencies seem to be a great alternative for financial stability.
It looks like this type of virtual asset has a great potential of becoming a default way of payment in the future. Moreover, there are many ways to acquire a passive income from owning a Bitcoin today, since there are indications that its value will increase significantly in the next few years.
There are several prosperous ways of earning a Bitcoin, like mining, trading, or selling goods by accepting this currency. The market share of the blockchain industry is already over 500 billion dollars’ worth, and there are online platforms, like ImmediateEdge, where you can acquire high profit by trading on the crypto market. Furthermore, there are many ways to earn a Bitcoin, which would get you a higher profit than simply buying this cryptocurrency, and here are some of the best of them.
1. Sell Goods Online for Bitcoin
If you have an online store, one of the best ways to collect Bitcoin on your e-wallet would be to add an option in your selling methods, where people are allowed to pay you by Bitcoin and other cryptocurrencies. The biggest benefit from this earing Bitcoins is that you don`t have to worry so much about its current value since prizes of your products are going to be converted from the dollar, Euro, or any other basic currency.
However, you should follow the oscillation of values on the crypto market, since you can also gain profit from converting various cryptocurrencies according to their current value. For example, if there is an indication that Ethereum will get a higher price, while Litecoin value might fall, you should convert all your Litecoins to Ethereum.
2. Mining the Bitcoin
One of the first ways for earning a Bitcoin is by using the main method of creating this cryptocurrency with blockchain technology, the mining process. This process represents a complex method that is using algorithms and block of codes, which require time and expensive hardware to create this virtual currency.
The average cost of a Bitcoin miner hardware cost around 200 dollars, but you will need an additional high-quality graphics card and other components. You will also have an increased electric bill, which represents another significant expense. Professional mining companies have more than 25,000 machines, which can create over 250,000 dollars’ worth of Bitcoin every day.
3. Get Your Salary in Bitcoin
Another great way to fill your e-wallet with Bitcoin is to get paid on your job with this cryptocurrency. This is especially popular among freelancers and remote workers who are working online. Also, there are many popular online platforms, where you can find various jobs and get paid in Bitcoin. Some of the most popular platforms are Bitwage, Earn.com, Angel`s List, Crypto Jobs, Coinality, and many more. Additionally, converting your salary in regular cash is simple, since there are many ATMs around the world which supports the conversion of BTC into US Dollars, EURO, Yen, or the currency of any other state where there are these machines. Currently, there are more than 5,000 ATMs worldwide, with this kind of support.
On the other side, you should pay attention to paying your taxes when you are getting your salary in Bitcoin since countries have different regulations when it comes to taxing this type of transaction. If you find this process too complicated, you can choose some of the providers that could determine the amount of taxes, like Bear Tax, Coin Tracker, and many more.
4. Earn Bitcoin While You Shop Online
There are many online stores where you can get cashback, with lots of them who also support Bitcoin and other cryptocurrencies. There are apps like Pei, which you can use to acquire various discounts and cashback, that you can cashback in US dollars, BTC, or as a voucher. This is a great way to earn Bitcoin for people who often buy online.
Another way is by downloading extensions for your browser, like Ebates, who can filter you many online stores that support cash outs in cryptocurrencies. There is also Lolli, which is a company that has a partnership with popular brands like CVS, Sephora, Amazon and many more, and cash out a small percentage of your shopping expenses in BTC.
5. Crypto Interest Account
Crypto Interest Account is similar to the banking system, where you will earn a small percentage only by depositing your Bitcoin in some company that is trading with this virtual asset. Some of the best interest accounts offer around 5 to 6 percent of the annual rate, along with the compounds, that can further increase your interest percentage.
Some of the best holder companies are Nexo, BlockFi, and Celsius Network. Also, one of the most popular platforms that trade with BTC, the Coinbase, is offering you a crypto interest program, with rates between 5 and 8 percent.
6. Earn BTC with Affiliate Marketing
One of the popular ways for websites, influencers, bloggers, and many other people to promote themselves and earn extra cash online, is by various affiliate marketing strategies. In this method, you will have to share promotions and links of various content, where you are noted as a referral, and you will receive a bonus for each person that registered, visited, or bought something on a site where he was referred by you.
There are different structures of these programs, which are mainly used by online shops, where you can get a passive income by providing a lot of people with links and redirecting them to visit online stores and buy products.
When it comes to crypto exchanges and companies that are trading with cryptocurrencies, you can earn some amount of money for each person that register and deposit money on their account. One of the best referral programs where you can earn BTC is BlockFi, with its affiliate marketing, where you can get 10 percent from your referrals.