Bitcoin has become one of the most prominent currencies in the crypto world. It’s no wonder that many enthusiasts are looking for ways to make, trade or earn this coin. As there is more than one way in which one can earn Bitcoin, our article for today shall cover a few methods in which you can quickly make some BTCs.
1. Accept Bitcoins as a Means of Payment
One of the safest and easiest way to earn Bitcoins is to accept them as a means of payment for your products or services. If you are a small business owner, this payment feature is easy and fast to integrate. Whether you have a physical shop or an online business, or if you sell goods or services, you can still accept BTC for your business. You just have to go through these simple steps:
- First get a secure online Bitcoin wallet. There are many providers on the market, so it’s best that you do your research thoroughly before settling on one. Keep in mind that no wallet is truly safe, so be careful and make sure you store your Bitcoins in at least 2 or 3 different places.
2. Feature a QR-code that contains your Bitcoin address next to your cash register. There several ways in which you can do this:
- Once you have your wallet, go to ‘Receive Money’ or ‘Add funds’ or something of the sort. There will usually be a QR-code which has encoded in it your Bitcoin address. Just print out the image with the QR-code and put it next to your cash register.
- Some wallets feature a ‘Receive Money’ functionality. When you accept Bitcoins as a payment method you can use a button called ‘Create Payment Request’. Here you put in the Bitcoin sum, make the payment and it will automatically display the corresponding QR-code.
- Feature the ‘Bitcoin accepted here’ logo on your business’ website page to let everybody know that you accept BTC for your products.
Also, add your shop on maps that feature businesses that accept Bitcoin to gain more exposure.
2. Earn Bitcoins from Lending
If you already own Bitcoins, you can earn more of them by lending them out and collecting the interest payments.
Lend directly to an individual you already know. Then the two of you have to agree on terms such as duration and interest rate on without a mediator.
There are many websites that offer Peer to peer Bitcoin lending which list various borrowers for you. Borrowers put out funding requests and you can subsidize to their loan. You can fund small shares of many loans and thus spread default risk. Bitcoin loans are similar to fiat currency loans, and they can generate up to 12%-18% returns on your investment in the form of Bitcoins.
The borrower receives a certain sum of money and pays back the money with interest.
You should be warned, the lending market sector is highly unregulated, so choose wisely the borrower to whom you lend your Bitcoin and strictly comply to the platform policies to make sure you will not lose your coins.
3. Work for Bitcoin
Whether you are a programmer, developer, writer or freelancer, you can work and get paid in Bitcoin. Working for Bitcoin not only the easiest ways of earning BTC but it is also the most legit ones.
There are plenty of platforms and websites which connect employers that are willing to play workers in the crypto. A few of these platforms include: Jobs4Bitcoins, XBTFreelancer, earn.co, bitWAGE, Angle.Co, Coinality.
Avoid HYIPs and coin doublers
Since Bitcoin’s popularity surged, many people have tried to make a quick buck off of it, and most of them in illicit ways. Coin doublers and High Yield Investment Programs (also known as HYIPs) are nowadays all over the internet. These sites which promise their users that will double their coins every few days or return unrealistic interest rates.
These sites just take money from naïve users and use these funds to pay off old users. This makes it seem like the site is actually legit and produces some money.
In addition to this, almost all of these schemes have a referral program in which users are encouraged and “rewarded” for bringing in new members. This is the basis of a Ponzi scheme. Things will appear to be running smoothly for a few months until one day the website just ups and goes with all of the users’ money.
Any site which claims to boost your investment at impossible rates, then it’s most likely a scam trying to steal your coins.
There are many ways in which one can earn Bitcoins nowadays, but some are more time- consuming and risky than others, seeing as there still is a rather unregulated market for cryptos in general. We hope that the aforementioned options will be of help to you and bring you those desired BTC.