How to earn bitcoins in 2022. Beginner's Guide

Bitcoin as a new investment asset has surprised skeptics who have tried to argue that blockchain-based cryptocurrencies will never have real value. It has also aroused great interest among those who had not previously heard of digital currencies or did not attach much importance to them. Now, few would deny that the cryptocurrency niche offers incredible earning opportunities.

The author of the original article, Jamie Spencer, has spent the last five years creating and selling successful blogs, and now he wants to teach people how to do the same. He presents several different ways to make money from Bitcoin trends, as well as obtain Bitcoins themselves.

Warning

Before we talk about options for making money on Bitcoin, it is important to understand how much money you can make from it. Although you can earn huge amounts of money in this market, many methods for beginners involve very modest incomes. However, don't be discouraged. Even a small amount of Bitcoin can become a useful asset, given the ability of cryptocurrencies to grow rapidly. Over time, it is quite possible to collect a significant amount in bitcoins.

However, this cannot be done without initial investment. With all of this in mind, let's start exploring the different ways you can start earning money, both fiat money and Bitcoin.

Making a profit on bitcoin exchange rate fluctuations

You can also make a good profit on fluctuations in the bitcoin exchange rate. The only caveat is that in such a situation the miner will have to make an investment of $10 or more. There are 3 main ways to make a profit from changes in the bitcoin exchange rate:

1. investing your money in bitcoin for a long period;
2. independent home trading of Bitcoin in the first 6 months;
3. investing money in managing professional traders.

You can engage in cryptocurrency trading only on the World Wide Web, for example, with a broker such as Alpari. This site also has a wide variety of managers who help miners increase their own income. Also, do not forget that in this business there is always a possibility of losing all your profits, so you need to take risks wisely and with your own money, not with credit money.

No. 1 - Bitcoin mining

If you want to earn maximum bitcoins, then mining is the best option. This method requires the use of computer hardware to automatically perform mathematical operations, which in turn create new Bitcoins for you. Their final number is limited to 21 million. At the time of writing this article, about 16.7 million bitcoins have already been created, that is, more than 4 million coins are still to be mined.

Mining difficulty increases over time. In other words, each subsequent Bitcoin will require more time and more computing power to mine. In the early days of Bitcoin, cryptocurrency enthusiasts could use the GPUs of regular computers. Nowadays, the complexity of mining has grown so much that much more powerful specialized equipment is required.

To start mining, you first need to invest in Bitcoin miners - devices that provide the necessary computing power. The price of such a setup depends on its computing ability. Small USB miners cost less than $100, while larger, more powerful devices can cost tens of thousands of dollars. The initial investment in miners is high, but it will allow you to create your own stream of new bitcoins.

Don't forget to take into account additional costs. You will have to pay not only for the equipment, but also for electricity. If you have a large installation that produces a significant amount of heat, you will need to install a cooling system. These costs can cost a significant portion of future mining profits. Luckily, if Bitcoin continues to be valuable, they will eventually pay off.

Don’t want to invest large sums and understand the equipment settings? You can still mine using what is called a mining contract. In this case, you pay a fee for the company to use its mining equipment on your behalf. Bitcoins mined during the contract will be sent to your wallet. The two largest contract mining services are Genesis Mining and Hashing24. Contract mining is an easy way to accumulate Bitcoin, although it is more expensive in the long run than working with your own hardware.

How to choose the most promising token for earning money?

When choosing a cryptocurrency to earn money, you should decide on the type of activity (freelancing, mining, investing) and the potential profit to be received. For small or medium investment amounts, it is best to choose not Bitcoin, but alternative options - tokens, the rate of which is approximately equal to 1 US dollar. Some altcoins are capable of generating significant profits in just 12 months.

Large investors should take a closer look at Ethereum or Bitcoin. The exchange rate of these currencies may decline significantly, but with a high probability it will rise again and become even greater than it was before the fall. This is facilitated by the incredible popularity of blockchain technology.

If you have the skills to trade on exchanges and a certain amount of funds, you can choose trading as a very promising option for making money. With the right approach, you can double your capital in just a day.

In the case of cloud mining, you can rely on online services that automatically identify the most promising cryptocurrencies. The average user will not have to think about choosing one or another token.

Taking into account all of the above, the following conclusions can be drawn:

1. If you have large sums, it is best to invest in Ethereum or Bitcoin.
2. If you have medium or small amounts of capital, you should pay attention to altcoins.
3. If you have trading skills, you should choose Bitcoin, since at the moment this currency is the most volatile and expensive.

No. 2 - completing small tasks

Although mining allows you to earn bitcoins faster than other methods, due to the significant initial investment, it is not suitable for everyone. A not very profitable, but affordable and easy option for earning bitcoins is completing small tasks that are paid in cryptocurrency. These are usually simple actions like watching an ad or commenting on social networks.

One of the best platforms for completing small orders is the CoinWorker marketplace. Completing tasks here is paid in points worth $0.01. Most jobs on CoinWorker pay $0.03-0.05, but there are also customers who pay $1 or more. Completing such tasks will only take a few minutes of your time.

There are also sites that will pay you a small amount of Bitcoin for viewing ads. The best sites that offer this method are CoinAdder, Ads4BTC and Advercoins.

Content

• How to earn Bitcoins without investments on a machine - faucets
• Earning Bitcoins through mobile programs on Android and iOS
• Participation in ICO Bounty to earn Bitcoins
• Mining on PC
• How to earn Bitcoins without investments on a machine - recommendations for a beginner

Earning Bitcoins on a machine is a direction that involves mining virtual coins or receiving them as a reward for performing any actions.
At the start of the Bitcoin era (in 2009), mining it was not difficult. Thousands of people made their fortunes through mining during the first 2-3 years of cryptocurrency’s existence. But with the growing popularity, it is becoming increasingly difficult to get Bitcoins without investments. One of the reasons is the growing complexity of the network, which makes many ways of making money useless. In particular, mining on CPUs, GPUs or hard drives no longer gives the expected results. But do not despair, because Internet users have a number of methods at their disposal that allow them to earn Satoshi without investment. Let us immediately note that you cannot count on a large income. To get real profit, you need investments that amount to 3-5 thousand dollars or more.

Bitcoin cryptocurrency is the first virtual coin that is characterized by anonymity, decentralization and low transaction fees. As of today (April 27, 2022), its exchange rate is $9,271, and its capitalization has exceeded $157.6 billion.

With such indicators, Bitcoin is in first place among all virtual coins, which attracts millions of people. It is not surprising that more and more participants are thinking about one topic - how to earn Bitcoins on a machine without investing a penny of additional funds. Below we will consider the main options, their pros and cons.

No. 3 - Bitcoin faucets

Sites known as Bitcoin faucets also pay small fractions of Bitcoin in exchange for a little of your time—about one Satoshi, which is one hundred millionth of a Bitcoin. In Bitcoin faucets you can access Satoshi every five minutes.

The idea behind Bitcoin faucets is that their owners post advertisements that are viewed by users. Although the earnings here are small, it is a good way to get a glimpse into the world of Bitcoin and see at least some money in your digital wallet. One of the most popular faucets is Moon Bitcoin, although there are others: FreeBitcoin, Bitcoin Zebra and Daily Free Bits.

#4 – Invest in Bitcoin and Bitcoin Derivatives

Over the past couple of years, Bitcoin has emerged as a popular investment asset. The classic form of investing in Bitcoin is to buy it and hold it until the price increases enough for you to make a profit. By following this strategy, many investors have made incredible profits thanks to Bitcoin's high volatility. If you had invested $500 in Bitcoin in early 2011, when it was worth $1, you would have over $9.5 million today.

Investing in Bitcoin could have gone mainstream sooner if there had been reliable exchanges back then. Many of you probably remember the collapse of the Mt. Gox, hacked in 2014. The hack led to the loss of millions of dollars and delayed the mass adoption of Bitcoin for years. However, now a new generation of safer and more advanced platforms have entered the market, offering services related to cryptocurrency trading.

There is also a lesser-known way to invest in Bitcoin - trading it as a contract for difference (CFD). Essentially, a CFD is a derivative instrument that is based on the price of an asset, in this case Bitcoin. Unlike standard investments, CFDs do not involve the actual purchase of the asset itself. Traders simply open positions based on the price movement of an asset with a CFD broker. CFDs typically have high leverage ratios, meaning the gains and losses are higher than traditional investments. With the right strategy, Bitcoin CFDs can be quite profitable. But keep in mind that this is a high-risk investment.

Making a profit on cryptocurrency exchange (trading)

Today there is another interesting method of making a profit on Bitcoins - trading! After all, today there is no single price for bitcoins. Each electronic exchange has its own bitcoin exchange rate, which may differ from the rate on another exchange. And at the moment there are a lot of such online exchanges on the Internet where you can sell or buy bitcoins. So how can you make money from currency trading?

• First, a newbie miner needs to register on 3–10 large online bitcoin exchanges.
• Next, you need to regularly monitor the cost of purchasing or selling electronic currencies—bitcoins—on cryptocurrency exchanges. This can be easily done on specific Internet platforms that constantly monitor exchange rates (in particular, the site bitkurs.ru). If the cost of bitcoin on one exchange has become higher, and on the second lower, then on the first exchange the miner purchases electronic currency at a low rate, and on the second he sells bitcoin at a profitable high rate.

Thus, every user can make good money on exchange trading, but to get high profits from the difference in cryptocurrency rates, serious investments are needed! However, the miner must take into account three important nuances:

• for currency exchange they charge commission fees, which are charged for receiving bitcoin tokens on some online exchanges;
• the exchange rate for bitcoins changes greatly almost every minute, which can either significantly increase profits or sharply reduce them;
• the user needs to take into account the number of bitcoins that are available on the cryptocurrency exchange at the time of currency trading - it may not be enough at all!

#5 – Promote Bitcoin-related products

You might be impressed that there are ways to make money with Bitcoin without purchasing it . This can be done thanks to the market for Bitcoin-related products and services, as the solvent audience interested in cryptocurrencies is growing.

The easiest way to get involved in Bitcoin product marketing is to promote your mining device through the Amazon Associates affiliate program. You can refer visitors from your site to Amazon and earn a small commission on any products they buy there in the next 24 hours. Although the selection of mining hardware on Amazon is limited, there is enough to get you started with your small business. The good news is that miners typically cost at least $100, so you don't have to sell too many units to make any noticeable money.

The same concept can be applied to Bitcoin services. For example, the mining contracts we've already discussed offer generous commissions to those who refer them new clients. If you have your own website, advertising Bitcoin services can be useful for your readers and profitable for you.

#6 – Do Freelance Work and Get Paid in Bitcoin

You probably know that there is a massive market of freelancers online who write articles, develop websites, etc. There are hundreds of sites that help match freelance workers with business representatives who are willing to pay for the work. Now a new trend has emerged: sites are starting to pay freelancers in cryptocurrencies. If you have useful skills, you have a good chance of monetizing them.

Working for bitcoins has two advantages that make it one of the best ways to enter the cryptocurrency market: 1) unlike mining or investing, it does not require initial capital; 2) some orders can cost tens or hundreds of dollars (unlike other methods of receiving Bitcoin, when cents drop into your account). If you want to earn bitcoins quickly without investing large sums, this is a great option.

The most popular occupations among freelancers are writing, proofreading, graphic design, programming, video production, editing, voice acting, etc. Choose based on your skills and interests.

After you decide on your field of activity, you will need to register on a freelance exchange that accepts payment in bitcoins. One attractive option is XBT Freelancer. The site offers many high-paying jobs, but most of them are technical in nature and are not suitable for everyone. Another popular platform, Cryptogrind, offers simpler services for lower fees. If you've ever worked on traditional freelance platforms, the way clients and workers interact on Cryptogrind will seem familiar to you.

#7 – Create Content and Monetize It with Bitcoin Ads

If you've been wondering how to make money online, then you probably know that you can get paid for advertising on your website. This concept works well with Bitcoin as well. If you create quality content and want to earn passive cryptocurrency income, you should sign up with an advertising network that accepts payments in Bitcoin, such as BitMedia. These networks pay you for clicks on ads posted on your site. The more visitors you have and the more clicks they make, the more Bitcoins you will earn.

Bitcoin advertising networks can be implemented on any type of website, but the most effective will be resources dedicated to cryptocurrencies and technologies. The fact is that most advertisers using these services are themselves in the Bitcoin niche. By the way, advertising can be displayed on the same site that you use to promote Bitcoin-related products. This approach will give you the opportunity to earn both Bitcoin and fiat money using the same site, diversifying your income stream.

Potential earnings

It all depends on the chosen method. In general, you can count on the following amounts:

1. Mining digital currency . Here, the amount of income is directly dependent on the devices used. For example, if you use farms with video cards, the payback period will be approximately 6-7 months. By using specialized equipment like ASICs, you can significantly increase your profits.
2. Cloud mining. Here the main role is played by the amount of acquired hashrate. However, taking into account the average indicators, you can get an average payback period of 3-4 months.
3. People who invest in electronic currency take quite a lot of risks , but often this approach pays off. Top altcoins can bring up to 3 thousand percent profit. However, this will only become possible if the crypt continues to grow.
4. Cranes . Here income is calculated in rubles, since this method does not require any investment. On average, faucets give out from 70 to 400 satoshi. Converting into our currency, we get 1-2 rubles. If you use several faucets you can significantly increase your income.

#8 – Get into Bitcoin Lending

Lending money at interest has always been a profitable business. This also applies to cryptocurrencies. This is similar to peer-to-peer lending, where individuals take on the role of a bank or financial institution and receive interest when the borrower repays the loan. To conduct such activities, you need to register on a specialized lending platform. For example, Bitbond is considered one of the most popular and reliable platforms, although there are other services. Interest rates on Bitcoin loans can be quite high - more than 10%.

For lending, of course, you will need bitcoins. They can be bought, mined or earned using one of the methods described in this article. If you want serious income, then it would be better to buy a starting supply of coins, which will allow you to finance more loans and earn more interest. It should be understood that, as with any other type of lending, you may encounter default. Always carefully study the system participant to whom you give a loan, and finance only those you trust.

#9 - become a blockchain developer

Most of the earning methods that we looked at were quite simple. If you are serious about making money with Bitcoin, then one of the best ways is to become a developer of websites and digital systems related to cryptocurrencies. Their number and demand will grow in the coming years. Every new Bitcoin payment site will soon require blockchain developers. If you have the appropriate knowledge and skills, you will not be priced.

Of course, this method of earning money is far from simple. To effectively study such a narrow specialization as blockchain, you will need knowledge of computer science, mathematics and programming. It may make sense to get a degree in computer science first.

However, such investments of time and money are justified, because the average salary of blockchain developers is about $80,000 per year, and top specialists can count on $300,000.

Some useful tips

To know how to make money on cryptocurrency, you need to rely on the experience of professionals who regularly analyze the market situation and make forecasts of its behavior. Several simple recommendations have been made that are best not to be neglected:

1. The cryptocurrency space is extremely unstable, this should not be forgotten . Since the cryptocurrency market is not regulated by anyone, its behavior is almost unpredictable. New tokens appear daily, and the value of existing ones changes rapidly depending on supply and demand. Seeking stability in this area is a fool’s errand. The only process that can be predicted is the continued growth of the most popular virtual currencies. However, it is not so easy to answer the following question: which currency may lose its relevance, and which will continue to be in demand? If the task is to find a stable source of income, then it is better to forget about cryptocurrencies altogether. They can bring both good profits and cause significant losses.
2. Continue searching for new promising tokens . To invest successfully, you should constantly look for promising cryptocurrencies. Those who managed to discern the potential of Bitcoin a few years ago have long since become millionaires. The same prospects open up for any person who was able to make a successful choice in favor of one or another altcoin. When assessing the degree of demand for a token, they are guided by the following criteria:

• limitation;
• innovativeness of the idea;
• benefit.

Any promising currency must have a significant impact on business.

1. Finally, avoid taking big risks . When working with cryptocurrencies, you should minimize the number of risky actions. Any change in market sentiment can lead to serious consequences, such as a sharp depreciation. When drawing up a strategy, you should try to minimize possible losses in case of failure.

The above tips are most relevant for potential investors and traders. Miners are advised to closely monitor quotes and market behavior so as not to undercut the price when selling the generated tokens.

#10 – Educate people about Bitcoin

Once you have established yourself in the Bitcoin community, you can share your knowledge with others who are less knowledgeable about cryptocurrencies. This may concern investment strategies or the correct setup of miners. There will definitely be people interested in gaining your experience and willing to pay for it.

One way to learn is by creating YouTube videos. You can monetize videos using Google Adsense and earn ad revenue. If your channel becomes a popular source of information about Bitcoin and cryptocurrencies, the revenue will be significant.

If you are not good at creating videos, you can start writing articles to post on your own website or other resources. Good text content is likely to be in demand on specialized sites.

If you have a lot of ambitions related to knowledge in the field of cryptocurrencies, you can create your own course. Online courses are a great way to make money, although they require a lot of time and effort. You can promote and sell the course you create through Udemy, a site that hosts user-generated content. Here you can list your course at any price you like. Most importantly, you will have access to millions of potential students. Your content needs to be valuable enough for people to pay for it; if you relay information collected from Google, you're unlikely to make a lot of money.

#11 – Earn Bitcoins by Playing Games

And finally, how can we not recommend you the funniest way to earn bitcoins! Games that pay in cryptocurrency are similar to Bitcoin faucets in that they make money from advertising and transfer just a little bit to you. The good thing about them is that they monetize the time spent playing games, for which you might otherwise get nothing at all. If you like mobile games, try to find ones that will pay a small amount of bitcoins.

In addition, bitcoins can be won in digital casinos. Of course, gambling is not the most reliable way to make money. The odds will almost always be on the gambling house's side. Although, if you are willing to lose your bitcoins or just want to have a little fun, there is nothing wrong with that.