In the current economic client where people are being laid off left and right, with a lot of spare time on their hands, earning some free money in the form of bitcoin or other cryptocurrencies would be a welcome boost for a family budget.
This article will help you in starting your research on the best ways to earn bitcoin with legit methods. Some of the ways we list below allow you to earn bitcoins without investments, while some others will require you to put some money into bitcoin – the easiest way to do so is to buy bitcoin with a credit card.
There are many ways to earn and own Bitcoins – some ways of getting Bitcoin are better than other ways, while some are even worse than scams. Here are some of the approaches that are legit and can help you earn Bitcoins online.
We will first go over the possibilities of earning bitcoin for free, ie, without investing money.
In the second part of this article, we will cover other ways to earn cryptocurrencies online where you need some investment to start with.
7 Legit Ways to Earn Bitcoins & Crypto Online Without Investment
Do Freelance Work to Earn Bitcoin
One of the easiest and most legit ways to earn your Bitcoins is to work for them. Multiple services will offer one an opportunity to work for crypto, whether you are an internet marketer, freelancer, singer, translator, editor, engineer, designer, writer, or developer.
Here are some of the platforms and websites that offer you Bitcoins in exchange for your service:
- WorkForBitcoin – This is a freelance market for workers and employers. There you can find jobs paid in Bitcoin and bid on those jobs.
- Coinality – This is another job board that features jobs. It has a different approach by not simply listing jobs where you can earn Bitcoins but displaying them on a map, which comes in handy when you are interested in a local job somewhere near you. Coinbase, Bitpay, Ripple, and the secondary market are a few companies that place job offers on Coinality.
- Jobs4Bitcoins(reddit.com) – This is a popular Bitcoin job board that focuses on job listings for programmers.
- BitGigs – This is an online job board offering a wide range of jobs for payment in Bitcoins.
- bitWAGE– This is another job board that lets you find remote jobs that are paid in Bitcoin.
- XBTFreelancer – It offers jobs that are mostly also software related.
Play2Earn Games (earn NFTs that you can sell for crypto coins)
A play-to-earn crypto game is an exciting arm of the NFT (Non-fungible Token) technology in which online games are launched on blockchains and anchored with digital asset-powered economies. These assets are often NFTs so that they are distinguishable and authentic.
Players who get these assets have exclusive ownership rights and can sell them as digital currencies in crypto exchanges to make money. Thus, players can earn real money or other real rewards simply by playing.
The fact is clear: This is the next big thing in the crypto world. You can read our top picks and most popular NFT games here.
Get Paid in Bitcoin For Services or Products
Another way to earn Bitcoins can be to sell something for digital currency. You can accept it as a means of payment for products or services sold or provided. For example, if you are keen on handmade, you can accept Bitcoin on your ETSY page. Also, if you are a merchant, you can use your Bitcoin address to accept Bitcoins payment on your website. Say you own a hotel, restaurant, café, etc., just hang a “Bitcoin Accepted Here” sign, and many of your customers may prefer to pay through this option.
Ways to earn bitcoins that require an initial investment
Earn Your Bitcoins through Trading
Another way to make an earning with Bitcoin is to do it through trading. The idea is simple. However, it takes a lot of awareness and analysis to be successful at this. For example, CEX.io allows you to buy Bitcoins for low fees using your credit card, a wire transfer, or a SEPA transfer (if you live in the EU), after which you can convert it to another cryptocurrency or fiat currency using the price volatility at your advantage.
If you don’t have time to be glued in front of your laptop and trade crypto, you can use crypto trading bots like Cryptohopper or Bitsgap to have them do that for you. You can even take advantage of price differences between different cryptocurrency exchanges and use these arbitrage bots to buy lower at one crypto exchange and sell higher at the other while pocketing the difference.
Earn bitcoin through lending
Crypto lending platforms like Blockfi or Youhodler are increasingly popular among cryptocurrency holders. Instead of leaving your crypto to sit and do nothing, you can deposit it into one of these loan sites and collect interest rates on your holdings.
The rates vary but are usually anywhere between 6% and 10% per annum. This is much better than what traditional banks offer, whose savings accounts are in a terrible state these days with interest rates going below zero – you are actually being charged for keeping your money with the bank.
Shop and earn free Bitcoins with rewards and cashbacks
This is definitely one of the easiest ways you can earn free bitcoin whenever you spend money online. Using apps like Lolli, which is a crypto reward app, you can earn small amounts of cryptocurrencies when you shop online.
Lolli integrates with all major online retail shop platforms and is a nice and seamless way to accumulate bitcoins with time.
To get started, here is what you need to do:
- Head over to Lolli Website
- Sign up for a free account
- Download their Chrome extension
- And you are done! Whenever you are shopping online at any of the 500+ partner stores, you will earn free Bitcoins.
Click here to install the Lolli Chrome browser extension.
Other similar apps are:
Gambling and Casino Games
There are a lot of Bitcoin gambling websites out there that offer different options like online lotteries, jackpots, spread betting, casino games, etc., to Bitcoin players, and they will gladly take your money for the chance of winning a bigger pot. However, gambling is not the best way to earn your Bitcoins. It is advisable to stay away from gambling as it has a number of risks that need to be taken into account.
Earn Your Bitcoins from Mining
In the early days, the primary source of Bitcoins was mining (the process through which bitcoins are released to come into circulation). Back in 2009, when mining began, every block mined brought a Bitcoin reward of 50 BTC to the lucky one who managed to solve the computationally difficult puzzle. The block reward (new Bitcoins) decreases every 4 years, and currently, every block brings 12,5 BTC.
When mining began, it took a regular desktop to be able to generate the coins. However, as more and more Bitcoins are generated, difficulty in the mining process increases and today, it takes a lot of time, research, and money to invest in mining equipment.
The reward is still luring, and you’ll be able to generate Bitcoins even if you use your own PC at home. However, there are some problems that stand in the way of earning some loot:
- The hashing difficulty has become so high in recent years, and no single equipment has enough computing power to compete for Bitcoins.
- In the hope of some reward, people unite in pools or use cloud mining services (most Bitcoin cloud mining websites are Ponzi schemes that rarely actually use your investment to mine Bitcoins).
- Bitcoin mining has gotten unprofitable.
- Even when the efforts are combined, you have to pay for the electricity, and electricity costs and the outlay for the hardware now make it unprofitable to mine at home. In many cases, especially in countries where power is expensive, the utility bills often exceed the mining reward.
All these factors make Bitcoin mining unprofitable these days, which makes us move forward to the next strategy of earning Bitcoins online.
Get Paid Crypto to Learn about Crypto.
To incentivize customers new to the topic, some exchanges offer free cryptocurrency to learn about cryptocurrencies. You watch some videos and take a quiz to earn a small amount of the coin or token you were studying. It’s a great way to get to know about various projects, and you could end up with a diverse selection of assets. Hopefully, one of them will explode upwards to the moon one day.
Coinbase is offering $3 of Numeraire, a crowd-sourced hedge fund, $3 of NuCypher, a blockchain privacy company, $6 in Celo, up to $59 in Compound, one of the crypto interest account startups, and lots of classic altcoins.
If you have always wanted to know what Stellar Lumens are about, watch the videos, answer some questions, and they reward you with $10 of XLM. I was most interested in the Dai, Zcash, and Tezos offers.
CoinMarketCap has a similar offer – watch some videos, take a quiz, and earn some crypto. They have tutorials on some less well-known altcoins, but as I said, these are always fun to hold when one of them shoots upwards. I could not see how much of each coin they are offering, but it’s a great way to stay updated on new projects.
Earncrypto.com has a similar offer where advertisers will pay you to watch their videos, fill in surveys, download apps, and even play their games. Again, this won’t make you rich, but it’s a great way to learn about the subject and bank some coins.
Take Surveys to Earn Free Bitcoin
One of the simplest ways to accumulate Sats is by completing online surveys. Sign up for lots of websites, and whenever you have free time, you can make a little extra coin. There are hundreds of sites, but here are a few notables.
BitcoinReward.net pays only in crypto and rewards you for completing surveys, game playing, and watching video clips. You supply your Bitcoin address and get paid up to 100,000 Satoshis per task (+/- 60US$). They have a really strong affiliate commission of 50%, which is ongoing. Get all your friends hooked on this and it could turn into a meaningful amount of free Bitcoin.
Superpay.me Sign up to take daily surveys and once you have accumulated $60 of Bitcoin, you can transfer it to your wallet. This could take a while, so if you want to bail out, you can withdraw anything over a buck through Paypal and Skrill. You can access superpay.me from any country.
Timebucks.com If you want to get started right away, sign up for timebucks.com. There’s no lengthy approval procedure, and the site is straightforward. It offers lots of other ways to make money – Installing apps, watching videos, posting on social media, and even playing games. They pay weekly and award a bonus to the top earners every day.
Surveytime.io Once you have opened an account, they will ask you about your survey topic preferences. Each completed survey makes you a buck, which you can withdraw in fiat or Bitcoin. They claim to pay you instantly for each survey, but I could find no mention of how this works for Bitcoin payments.
In the end, you can also earn free Bitcoin by signing up for the Binance Bitcoin Referral Program.
As you can see, there are quite a few ways to earn Bitcoins online, but it will always cost you something to get them. It may not always be money. However, something needs to be spent, whether it’s time, viewing ads, your email address, or anything else.
There’s no such thing as “free Bitcoins,” but if you’re willing to put in the effort, you can achieve some very nice earnings online.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com