Can you really make money with Bitcoin? Absolutely yes.
I admit, it’s the possibility of getting rich that attracted me to Bitcoin at first…
But once I got my feet wet in crypto, I stuck to learning about Bitcoin.
Soon I realized that I’ve got it all wrong.
Because…
Bitcoin is not a get rich quick scheme, but rather a way to get rich slow.
While investing and educating myself about this revolutionary technology, I also found some legit ways to earn free bitcoins and make money from it.
However, juicy opportunities for getting “easy money” has also led many to fall for scams.
Due to that, I’ve performed some detailed research and thought it would be helpful to share some of the legit, easy ways to make money with Bitcoin and cryptocurrency.
Whether you’re looking to earn tiny fractions of bitcoin during your spare time or planning to build a career in crypto, I hope this list will give you a headstart in the right direction.
How to Make Money with Bitcoin and Cryptocurrency
1. Buy and HODL
The easiest way to lose money in cryptocurrency by far is through speculative trading.
According to Bloomberg, as high as 80% of total transaction volumes on Bitcoin trading exchanges consist of bots.
Here’s the truth, human traders can never outperform traders. And trading is where 90% of people lose their money.
Contrary to popular belief, buying and HODLing Bitcoin is one of the safest ways to reap maximum profit in the long run.
To help you understand better, let’s look at this example:
If you invested $1,000 in Amazon 10 years ago, you’d make about $20,000 today.
$1,000 in Microsoft 10 years ago = ~$8,000
$1,000 in Netflix 10 years ago = ~$100,000
$1,000 in Apple 10 years ago = ~$9,000
$1,000 in Bitcoin 10 years ago = >1,000,000,000 ( 185,185 bitcoins at $9,800 per BTC)
Bitcoin has been the best performing asset over the last decade… blowing away stocks, startup, bonds, gold, silver, and any other precious metal or commodity.
Andreas Antonopoulos, veteran bitcoin expert once said, “Bitcoin won’t necessarily be the shopping coin. It won’t necessarily be the day-to-day transaction coin. It will be the coin you invest for your retirement.”
Even though we’re still at the early stages of crypto, more and more people, including merchants, financial institutions and investors, are demanding Bitcoin.
With its decentralized digital scarcity (only 21 million bitcoins will ever exist) and practical use cases, it’s inevitable that Bitcoin is bound to increase in value.
One of the easiest ways to buy Bitcoin is using Instant exchange like ChangeNOW . You can buy Bitcoin with a credit card without the need of creating an account.
Buy Bitcoin, store it securely in your own hardware wallet for decades, do nothing and access it one day to find that it’s worth millions in fiat money.
But HODLing can be harder than it seems. Do you own research before investing in cryptocurrency. Here’s a long read on How to get rich without trading Bitcoin (or renting out your time)
If you’re new to the world of crypto, always educate yourself first before investing. Check out this guide on how to buy Bitcoin and how to store your crypto assets.
However, I understand that not everyone is ready to invest in Bitcoin and cryptocurrency with hard-earned money.
Luckily for you, there are several different ways to make money with Bitcoin without spending a dime. Keep reading and you’ll find out.
2. Microtasks for Bitcoin
Doing micro tasks like answering messages, taking surveys, watching videos and downloading apps is an easy, no-brainer way of earning Bitcoin,
I tried a few sites to see which ones work best.
Earn Bitcoin used to be my favorite app for completing microtasks and earning Bitcoin. Here’s a screenshot of my earning:
Unfortunately, one year after being acquired by Coinbase, Earn Bitcoin is shutting down.
And I just found another great survey site that pay out in bitcoins – Timebucks.
You get $1 worth of BTC for just signing a free account. For your first day, you can earn up to a maximum of $50 worth of Bitcoin. After that, you can expect to earn between $10-20 worth of Bitcoin daily depends on the task and time spent on the platform.
Not only it pays the most compared to other platforms, tasks are also pretty easy and takes a couple of minutes to complete.
You can choose to cash out your balance directly to your Bitcoin wallet, AirTM, Payeer, Skrill and Neteller.
You definitely won’t get rich or earn a full-time living from doing small jobs alone. But you won’t waste much time, you can easily earn small fractions of a Bitcoin during your spare time.
To help you make more money, read our step-by-step guide on getting started with Timebucks.
If you’re looking for more quick jobs, check out websites as below.
3. Earn Interest by Lending out Your Bitcoin
Deposit money in bank accounts and receive interest on your deposits is a century-old method of growing your money.
The same concept applies to Bitcoin and cryptocurrencies.
You can use any of these platforms to earn the high yields on your crypto assets:
If you’d like to review how you can HODL your bitcoins while earning some yields, check out our detailed comparison here 6 best Bitcoin lending sites.
4. Earn Cryptocurrency by Walking
How about getting paid for staying fit? Yes, you can!
Sweatcoins is an awesome app that tracks your steps and pays you in sweatcoins (SWC).
It’s a fun and easy way to earn extra cash by doing what you already do naturally — walking.
Anytime you walk or run outside, it will detect and convert your steps into sweatcoins.
For every 1,000 steps you take, you’ll earn ~0.95 SWC.
You can then spend your SWC on products, services and experiences on their marketplace.
The more you walk/run, the more you get paid.
5. Earn Crypto while Learning
Let’s earn while you learn about new coins and tokens.
Aiming to make cryptocurrencies easier to obtain and easier to understand, Coinbase is launching a special program called Coinbase Earn.
It’s a great way to understand more about an asset’s utility and its underlying technology, while earning some cryptocurrencies.
You can learn and earn cryptocurrencies such as Zcash, EOS, Ox, Stellar and more.
But how does it work?
That’s easy!
1. Simply head to Coinbase and login to see the list of educational videos and courses.
2. Select a cryptocurrency you want to learn and watch videos on your laptop or phone.
3. After each video, you’ll need to complete a simple quiz testing what you’ve learned.
4. You’ll receive crypto in your Coinbase wallet.
That’s it. Once you accumulate enough crypto, you can exchange it for cash on Coinbase or exchange these altcoins into bitcoin using reliable exchange sites like Binance and Exolix.
6. Earn Free Bitcoin when you shop online
How about getting rewards in Bitcoin while shopping online?
Lolli is a Chrome extension that helps you do just that, allowing you to earn up to 30% for over 500+ top brands all across the web, with virtually no effort!
Of course, no one would want to buy more stuff just to earn free Bitcoin.
But if already you’ve something in mind that you want to purchase, Lolli can help you to save extra bucks as well as earning cash back in bitcoins!
To earn Free Bitcoin with Lolli, you just need to follow some simple steps:
- Install Lolli extension on your chrome browser.
- Shop the web, Lolli will pop up to notify you on the percentage of Bitcoin you can earn-back.
- Buy whatever you’re planning to buy as normal.
- Earn free Bitcoin when you checkout using Lolli.
7. Earn through Crypto Faucets
If you’re looking to earn more Bitcoin with your time, cryptocurrency faucets can be another easy way. Faucets are websites/apps that require users to watch advertisement, play online games in return for tiny amounts of Bitcoin.
Some faucets will pay you in alternative cryptocurrencies such as Litecoin and Dogecoin. You can use instant exchange site like Exolix to turn it into Bitcoin.
To be honest, I’ve not tried any crypto faucets because the average payout is extremely low. And it takes too long to make enough money. I’m talking about earning 1-1000 Satoshi per task. (1 Satoshi= 0.00000001 BTC).
In other words, you’re earning pennies per hour!
Still, it’s possible to make money from it. Rather than aimlessly scrolling through your feeds on Facebook/Instagram, visit faucet website and earn some Satoshi.
If you’re interested in earning bitcoin through faucets, you can find a list of popular Bitcoin faucets here.
8. Working for Bitcoin and Cryptocurrency
This is probably the best and fastest way to earn a decent amount of bitcoins.
Whether you’re a writer, translator, Youtuber, copywriter, designer, marketer, freelancer, developer or engineer, you can start offering your services in exchange for payments in Bitcoin.
These jobs can often be done remotely, from anywhere in the world.
It’s possible to earn over $50,000 a year.
Some websites that pay your services for bitcoin:
9. Earn bitcoin with your computer
Are you interested in Bitcoin mining or earning BTC passive income?
Honeyminer is a simple but helpful app that lets you mine instantly.
Typically, mining cryptocurrency is a complex process, requiring technical knowledge and high upfront costs.
But Honeyminer just makes it super easy and possible for everyone to collect Satoshi with just a computer.
All you need to do is install Honeyminer (Windows and Mac), and let it run on your computer. The app will use your computer to mine coins and convert them into Bitcoin automatically.
With this free app, you’ll be able to earn Bitcoin while you sleep.
Depends on your computer power, you can expect to generate tens of thousands of Satoshi every month.
1o. Predict, learn and earn Bitcoin with zero risk
If you like checking Bitcoin price every day, why not predict its price and earn some extra money at the same time?
SwissBorg Community is one great app that I personally use and recommend for you. It’s a fun way to learn more about Bitcoin, predict BTC price movement and earn crypto called SwissBorg.
You don’t have to fork out any of your own money to get started.
First of all, download the app (available both on Google Play and App Store) and enter code GRRW5KI to get free points.
That’s it, now you can start predicting Bitcoin price using the free points. If you predict price correctly, you’ll be rewarded with more points.
To earn more points, you can log in every day, invite friends, and get a 7-day streak bonus.
Here’s the catch every time a new user joins the SwissBorg Community, they’ll add $1 to the prize pool. So the more people join this app, the bigger the prize!
Don’t hope to get filthy rich with this app, but rather a way to earn some money while making predictions.
11. Make Money from Writing
If you have a way with words, you can start making money by writing on third-party platforms like Steemit.
This approach is different from freelance writing.
Because you’re not getting paid per word or per article, rather you earn money based on a voting system. The more valuable your content, the more like you get, the more you earn.
Besides Steemit, two great websites that allow you to earn with your content are Y’alls and D.tube (For videos)
12. Make money by Referring Friends
Find a good product or service? Why not share it with your friends and get a reward.
Earning through affiliate programs is perhaps one of the most overlooked ways to earn extra cash.
It’s pretty easy. You promote a service or product that you like and when people sign up or make a purchase using your link, you will receive a commission.
Here’s how it works:
- You sign up for a bitcoin affiliate program that you’ve personally used or trust and believe in.
- Fill up your profile and provide your Bitcoin address (this is where they’ll send your earnings)
- You will be given a special referral link that will bring visitors directly to their website.
- Share the link with the world! You can add the link on your blog post, website, invite your email contacts, share it on forums, pin it, tweet it. Get creative.
- When someone clicks your link and make a purchase, you’ll earn a commission in bitcoin.
To help you get started, here are some of the popular websites that offer good-paying affiliate programs:
- Hardware wallet (best security): Ledger Nano X
- Android wallet: CashApp
- LocalCoinSwap (Peer to Peer)
- Binance (Crypto to Crypto)
- CoinMama Credit/Debit Cards
- Timebucks (answering surveys and complete simple task)
- Lolli (Shop and earn cash back in Bitcoin)
Also, read my step-by-step guide to making money with Bitcoin affiliate programs.
Don’t ever underestimate this stream of passive income. If you’re committed to it, you can possibly make a full-time income by promoting various affiliate programs.
But of course, you’ll need a good strategy to do that, which leads to my next point.
13. Start your Own Blog (Not Easy)
Is making money with your own WordPress blog easy?
Yes and No.
It’s easy to create and setup your own blog (you just need to pay for hosting).
Building a great thing is always hard in the beginning, you’ll have to invest your time, effort into creating valuable content. But once you build a following and get enough traffic, money can come in a lot easier than you think.
As more and more people are getting interested in Bitcoin and cryptocurrency, the readership will continue to grow exponentially.
In fact, my partner, Winson has launched a blog about cryptocurrency, as a channel to express his thoughts about Bitcoin, as well as sharing what he learned (without jargon) to the world, two years ago.
And now this site consistently generates passive income every month.
Earning money from displaying ads, promoting affiliate programs, sponsorships are just a few ways to make money from blogging.
If you’re looking to build a passive income or long term business, starting a blog can be the best investment of your time!
You can’t expect to get return instantly, but it can be extremely rewarding in the long run. And thus I include this on the list as a bonus.
If you’re interested in starting your own self-hosted blog, take a look at my step-by-step guide. I’ll show you everything you need to do to start a successful money-making blog.
Here’s a list of best resources and tools for your blog! I use them to manage, optimize and grow my blog. I’m sure they’ll help you as much as they’ve helped me.
Conclusion
So there you have it! Enough information to get you started on earning money from Bitcoin.
It’s easy to get started and suitable for everyone, including absolute beginners.
In the meantime, learn and earn as much as you can.
And stay safe.
Don’t fall prey to scams or illegal pyramid schemes that guarantee fast returns.
Do you know any other ways to earn money with Bitcoin and cryptocurrency? Share your tips in the comment section down below.
Last but not least, if this post was of any help to you, please share it with your friends and families!
CoinSwitch is a little (bit) different from the other crypto exchange on the list.
How about getting paid for staying fit? Yes, you can!
But how does it work?
