In the current economic client where people are being laid off left and right, with a lot of spare time at their hands, earning some free money in the form of bitcoin or other cryptocurrency 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 in some money into bitcoin – the easiest way to do so is to buy bitcoin with 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 to earn 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
Ways to earn bitcoin 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. There are multiple services that 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 which 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 secondmarket are few companies which place job offers on Coinality.
- Jobs4Bitcoins(reddit.com) – This is a popular Bitcoin job board that has a focus 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 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 cryptocurrency. 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 other 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 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 sit and do nothing, you can deposit it into one of these loan sites and collect interest rate on your holdings.
If you would have bet on the right coins this year you could easily have 10xed your capital…
You could even have made as much as 100x which means you could have turned $100 into as much as 10k.
Experts believe this will happen again in 2022, the only question is which coin do you bet on?
Our friends from WhaleTank are on top of it, working non-stop to find the best gems one can buy on the market.
Click here to test them out by joining their Telegram group.
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
- Singup for a free account
- Download their Chrome extension
- And you are done! Whenever you are shopping online on any of the 500+ partner stores, you will earn free Bitcoins.
Lolli is easy set and forget tool that will help you pile up a decent amount of Bitcoins via this trick.
Other similar apps are:
- Foldapp (Supports AirB&B)
- Cryptocom (Offers a Crypto debit card with cashback feature)
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 which need to be taken into account.
Earn Your Bitcoins from Mining
In the early days, the primary source of Bitcoins was through mining (the process through which Bitcoins are released to come into circulation). Back in 2009, when mining began, every block mined brought a 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 into 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 computational power to compete for Bitcoins.
- In hope for 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 always wanted to know what Stellar Lumens are about, watch the videos, answer some questions, and they reward you with $10 of XLM. I was most interested in the Dai, Zcash, and Tezos offers.
CoinMarketCap has a similar offer – watch some videos, take a quiz, earn some crypto. They have tutorials on some less well-known altcoins, but as I said, these are always fun to hold when one of them shoots upwards. I could not see how much of each coin they are offering, but it’s a great way to stay updated on new projects.
Earncrypto.com has a similar offer where advertisers will pay you to watch their videos, fill in surveys, download apps, and even play their games. Again, this won’t make you rich, but it’s a great way to learn about the subject and bank some coins.
Take Surveys to Earn Free Bitcoin
One of the simplest ways to accumulate Sats is by completing online surveys. Sign up to lots of websites, and whenever you have free time, you can make a little extra coin. There are hundreds of sites but here are a few notables.
BitcoinReward.net pays only in crypto and rewards you for completing surveys, game playing, and watching video clips. You supply your Bitcoin address and get paid up to 100,000 Satoshis per task (+/- 60US$). 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.
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.
How much can I earn from affiliate rewards?
It depends. There are fixed one-off dollar amounts for some affiliate programs. Others will give you an ongoing percentage of whatever the new client spends. This may last for a few months or indefinitely.
How are crypto wages taxed?
Crypto received for goods or services is taxed as regular income. It gets a little more complicated if you bought or mined it. In this case, you will be taxed on the capital gains when you spend it, trade it, or sell it.
If you have held it for less than a year, it will be taxed as short-term capital gains at your regular income tax rate. If you have owned it for more than a year, it will be taxed as long-term capital gains, which incurs a lower rate.
If you can show you made a loss on your crypto, you owe no tax and can set this loss against any other capital gains you have made during the same period.
How can I get 1 Bitcoin for free?
That’s a great question. If anyone has the answer to this, please send me a private message. I recommend a time machine, or befriending Elon Musk or Max Keiser.
What is the fastest way to earn Bitcoins?
Getting paid for services in crypto is the fastest way for me to accumulate Bitcoin. Trading up your account could be the quickest way, but you either need to be lucky or very talented.
In the end, it’s like any other currency – you can beg, borrow, steal, earn, find, win, or be gifted with Bitcoin.
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