How and where to earn bitcoins without investments - instructions for making money on the Internet from scratch + reviews from real users

Where can you quickly earn bitcoins? How to start automatically earning bitcoins without investment? What are the ways to earn bitcoins online?

In 2022, Bitcoin has quadrupled in price. Now everyone needs bitcoins. It looks like this is the goose that lays the golden eggs. Moreover, on the Internet - the only place Bitcoin lives - there are ways to earn cryptocurrency without any investment.

And I, Denis Kuderin, financial expert of HeatherBeaver magazine, will tell you how to do this. You will learn how to mine bitcoins without spending money , is such work worth your time, and what is better - making money on bitcoin faucets or cloud mining sites?

Those who read to the end will find tips on how to profitably use their earned bitcoins. After all, the cryptocurrency that is in your Bitcoin wallet can not only be saved, but also profitably invested.

Bitcoins without investment - make money on the Internet

Bitcoins (BTC) are the world's most popular cryptocurrency. Physically, this money is nowhere to be found, but there are special accounting registers that reflect the number of bitcoins and all transactions made since the day the currency was created. These ledgers are called blockchains.

They say that bitcoins (or their analogues) are the currency of the future. Perhaps someday the day will really come when dollars, euros, rubles and tugriks will disappear into history. But so far, bitcoins are not recognized by all states.

Financial institutions, in the state they are in, do not know what to do with money that no one controls or issues.

Bitcoins are generated on the network by themselves and are stored simultaneously on all computers whose owners deal with this cryptocurrency. The supply of BTC on earth is limited, just like the amount of gold. It is becoming increasingly difficult to obtain them, it is impossible to fake them, and the price, accordingly, is rising.

I will not indicate the rate, because by the time you read this article it will probably change.

How do Bitcoins come into being? They are created by computers, or rather, special powerful computer networks that are engaged in mining - the most complex calculations of digital code. There are many such networks on the planet.

Every time a computer calculates a cryptographic code, a penny of Bitcoin, or rather a Satoshi – one hundred millionth of a Bitcoin – is deposited into the account of its creator. Thus, cryptocurrency is a kind of reward for the work of its tireless miners. There is a detailed article on the site about how to earn bitcoins using a computer.

What is the beauty and value of bitcoins:

• they are transmitted over the network without any intermediaries in the form of banks - from person to person;
• it is a universal international currency;
• your Bitcoin account cannot be frozen;
• there are no limits on transfer amounts;
• there are no commissions for transferring bitcoins to bitcoin wallets;
• Bitcoin is constantly growing in price.

Everyone who is not too lazy invests money in bitcoins, they trade them on bitcoin exchanges and pay for goods and services. Cryptocurrency is already used to buy airline tickets, cars, digital products and much more. Buying groceries in supermarkets is still a long way off, but I think that time will definitely come.

The Internet offers many ways to earn bitcoins. Let me warn you right away that a significant part of such resources are ordinary HYIPs, that is, financial pyramids with a limited lifespan. Here, whoever had time, ate it. And the creators of such sites “eat up” the most.

But there are also completely honest ways to earn cryptocurrency , and some of them really do not require any initial investment. True, it will not be easy to get your first real profit.

At first it will seem that making money on Bitcoin faucets or cloud mining sites is just another scam or a waste of time for those who have nowhere to put it (time). But don’t rush to conclusions - patience, a rational approach and business acumen work wonders!

If you don’t know what kind of beast Bitcoin is, watch this movie.

Affiliate Marketing

Affiliate marketing and Bitcoin advertising are a popular way to make money for bloggers, news sites, social media influencers, and everyday people.

Companies provide unique URLs or promotional codes for affiliate marketers to send to their audience. If someone clicks on this link and makes a purchase using your affiliate link, you will receive a reward in the form of BTC.

Advantages:

• Does not require large investments in equipment.
• It's not difficult to start (becoming a blogger).

Flaws:

• Earnings depend on the audience.
• It may take time to promote your site (Youtube channel, Telegram, website, other social networks).

How to earn bitcoins without investments - step-by-step instructions for beginners

Bitcoins are already more expensive than platinum, oil and gold . Those who purchased a dozen or two crypto coins a few years ago have become wealthy people. Who knows what will happen to cryptocurrency in the near future? At least for now, Bitcoin is not going to lose ground. There are no prerequisites for a decline in his popularity.

This means that mining bitcoins is still profitable and promising.

Here is a short universal instruction on how to earn cryptocurrency.

Step 1. Create an electronic wallet

The obvious first step. People use Bitcoin wallets for transactions and payment for services. This is a virtual storage place for digital keys, without which any operations with bitcoins are impossible.

If you lose the secret key, you won't see the money . This is not a PIN code that can be restored at the bank, or even a password from your personal account. You won’t be able to call the bank - Bitcoins do not have a single regulator.

Conclusion - take creating a wallet and storing the key as seriously as possible. Who knows how many Satoshi you will accumulate over time.

How to create a wallet? It’s very simple – go to one of the official websites and follow the instructions. There are wallets for storing the key on your device, and there are online services. Both options have their pros and cons. Decide for yourself what to choose.

Step 2. Select a service and register

There are many services for earning bitcoins on the network - a whole train and a small cart.

But there are three main options for mining cryptocurrency:

1. Bitcoin faucets.
2. Cloud mining sites.
3. Exchanges.

We'll talk about them later, but for now I'll outline the situation.

On the one hand, mining bitcoins on free resources is extremely simple - you enter a captcha, watch ads, visit sites that are directed to you, use the computing power of your computer for mining - industrial production of bitcoins.

On the other hand, such a pastime is quite monotonous and boring. Doing this constantly is an activity for the strong-willed and patient. Here you need to “get into the groove”, that is, understand which services are truly profitable and which are not worth spending your precious time.

Registration on any mining service is a simple and fast process. The only difficulty that arises is setting up specialized programs designed for experienced miners, but this knowledge comes along the way.

Step 3. Earn and withdraw bitcoins

On most sites, earning money is an automatic process. But only partly. You will have to enter the captcha on the faucets and configure the equipment for cloud mining yourself. Satoshi will drop into the account on their own, but weeks, or even months, may pass between the words “let’s start” and the first real profit.

I’ll leave in plain sight a few rakes that beginners often step on:

1. Immediately check how withdrawal of earnings works. Before starting the process, make sure that the system is functioning correctly. Often, in order to withdraw, you need to register an electronic wallet on a third-party site, and this is far from free.
2. Calculate the commission for withdrawing cryptocurrency. Is the game worth the candle? It is not so easy to convert Bitcoin into real currency. Commissions can turn your profits into pennies.
3. Pay attention to changes in exchange odds. You don’t want to throw all your efforts down the drain with one click, do you? Some sites provide their own ways to increase the power of currency mining and exchange the money earned for mining speed.
4. Do not rush to spend starting bonuses or deposits. Understand how the service works. Will you be required to enter funds to withdraw your earnings? How profitable is this? Is it worth getting involved at all?

It is preferable to exchange or withdraw from the resource directly to a wallet with which you have already dealt. If you have direct access to a bank card, account or any other electronic platform convenient for you, this is the best option, which, alas, not all services offer users.

The three main ways to mine Bitcoins are cloud mining, Bitcoin faucets and exchanges.

It is worth talking about ways to exchange Bitcoin for real money . The easiest option is online exchangers. They charge fees for their services, but this cannot be avoided when converting electronic currency. How to find the most profitable rate?

BestChange - use this service. The site is an online monitoring of exchangers. If you need to exchange bitcoins for real money, you simply select the currency you want to receive for digital money and find the best current rate in one of the exchangers.

The lists from BestChange contain only official exchangers with a proven reputation. That is, along the way, you get a guarantee that your money will not get stuck somewhere on the network forever. I myself have repeatedly used the services of this monitoring and each time I mentally thanked its creators for the real savings of my money.

Exchange sites work on the same principle as regular street exchangers - enter the amount of bitcoins, see the current exchange rate for the currency you need and make a transaction.

Earning money from cloud mining

The principle is very simple. Using HashFlare as an example, we will analyze the purchase of a hashrate of 13.5 TH/s for SHA-256 and its monthly profitability (November 2017):

1. The minimum contract value of 10 GH/s is $1.5
2. The cost of 13.5 TH/s will cost $2025
3. For this amount you buy an annual contract (365) for the rental of computing power of equipment owned by the HashCoins LP company.

In this case, it is necessary to take into account:

1. You will separately pay for maintenance and electricity $0.0035 for every 10 GH/s per day.
2. The calculation of profit is based on the formula income (minus) expense, while the service does not provide any calculations. Instead, he suggests calculating it yourself using the coinwarz.com online calculator.
3. Withdrawals under the SHA-256 contract are carried out only in bitcoins, the minimum withdrawal amount is 0.0109 BTC, of ​​which 0.0009 BTC is a transaction fee.

Profit calculation on HashFlare

Since HashFlare does not provide any planned profit calculations, we will calculate it ourselves using the coinwarz.com calculator.

1. Hashrate 13.5 TH/s or 13,500 GH/s.
2. The electrical power consumption is 1350 W, but we don’t need it for calculations, because Energy consumption is included in the service and electricity charges. We know it and it is $0.0035 for every 10 GH/s per day. Therefore, we fill the fields “Power Cost ($/kWh)” and “Pool Fees, %” with zeros.
3. The “Hardware Costs (USD)” field can be left empty, because does not affect calculations. For clarity, we inserted the cost of the HashFlare contract $2025 there.

A table with earnings calculations will appear below.

For us it will not be final, because... You also need to take into account maintenance and electricity fees. The final calculation will look like this:

Time Frame	BTC Coins	USD*	Service and electricity charges (in USD)	Profit (in USD)	Profit (in RUB)**
Hourly	0.00010367	$0.73	$0.20	$0.53	31.45₽
Daily	0.00248799	$17.58	$4.73	$12.86	758.45₽
Weekly	0.01741594	$123.03	$33.08	$89.96	5 307.35₽
Monthly	0.07463975	$527.26	$141.75	$385.51	22 745.09₽
Annually	0.90811696	$6 414.97	$1 724.63	$4 690.35	276 730.36₽

* rate 7041.57 USD/BTC ** rate as of 11/13/2017

From here, we can assume that the monthly income on HashFlare will be 23 thousand rubles. , with the following caveats:

1. The increase in mining difficulty, which can significantly reduce mining revenues, is not taken into account;
2. Currency volatility and possible sharp depreciation are not taken into account.

For more detailed payback calculations, see the video “New HashFlare prices. Payback and quick overview":

Other services and payback comparison table

Similar services:

• MinerGate;
• Hashing24;
• Eobot;
• Genesis-Mining.

Comparison of the profitability of some cloud services for a contract at 13.5 TH/s (without taking into account changes in mining difficulty and market volatility):

Cloud pool	Contract value	Months income, BTC	Months income, USD*	Months income, RUB**	Months profit, RUB**	Payback, months
HashFlare	0.28758 BTC	0.074640	$527	31 108₽	22 745₽	5
MinerGate	0.28161 BTC	0.045173	$318	18 767₽	10 882₽	11
Hashing24	0.69404 BTC	0.088621	$624	36 818₽	28 111₽	10

* rate 7041.57 USD/BTC ** rate as of 11/13/2017

Possible risks:

• you don’t see the equipment you’re investing in, you don’t know where the server is located or whether it exists at all;
• theoretically, nothing prevents such services from collecting contract money and stopping customer service;
• fraud on the rewards received: the cloud pool may underpay you.

In general, cloud mining is less profitable than mining in a pool, which is logical, because, firstly, cloud services make money from this, and secondly, you do not need to monitor the equipment, solve problems with heat dissipation and noise insulation. Other people do this for you.

Where to earn bitcoins without investments - an overview of the main ways to earn money

I briefly talked about how to make money. Now about where we will do this.

Let's look at the most popular types of earnings.

Method 1. Bitcoin exchanges

This is the most realistic and promising way to earn money. True, it will not be possible to make a full profit without investments. To buy at least a few thousand satoshi, you need a small capital. At least minimal.

Trading on exchange platforms is not passive income, but real work . Players monitor the course around the clock. Bitcoin, for all its advantages, is an unreliable thing. The exchange rate is constantly jumping - up and down.

If you don’t want to trade yourself, hire an intermediary or invest money in cryptocurrency companies. The shares of these companies, if you're lucky, will also bring good income.

Otherwise, the principle of operation is the same as on a regular exchange. Bought cheaper - sold more expensive . But there is no need to rush: stock trading requires a thoughtful approach and perseverance.

You cannot become a good trader without preparation. If you want to trade professionally, take a training course. There are paid and free educational resources on the Internet.

Method 2. Bitcoin faucets

And this is the simplest option. No special knowledge is needed - just your time and desire . A significant part of the faucets on the network are English-speaking, so a minimum level of understanding of the language will come in handy. There are also Russian-language resources.

Earning money from faucets is simple actions: entering a captcha, watching an advertising video, clicking on 10 advertising links or increasing the number of logins to the site. You can play the lottery, attract other users, which will allow you to get the coveted satoshi into your account.

It’s not difficult to make money on faucets, the actions are simple and clear - you can perform them without being too distracted from your everyday worries

According to experts, you won’t earn a lot of money from taps, but it will be enough for everyday needs. Those who focus on attracting partners - referrals .

If you have your own website, LiveJournal page or many friends on social networks, then with the help of competent marketing and the ability to persuade you can create a stable source of real passive income.

Method 3. Cloud mining sites

Mining is the extraction of cryptocurrency using a computer. Real mining requires expensive equipment, which is unknown when it will pay off. The question of how to earn bitcoins using a video card is a topic for a separate discussion.

But there is an alternative option - to join already operating Bitcoin farms and receive a small percentage for providing the power of your computer. Install the program on your device and wait for profit.

There are plenty of cloud mining sites. When choosing a resource, be sure to read reviews about it on specialized forums. There is a possibility of running into outright scammers or a financial pyramid.

Comparison table of earning methods:

№	Way	Potential profit	Primary investments
1	Exchanges	Not limited	The bigger, the better
2	Cranes	Low	Not required
3	Mining	Depends on the site, programs and computer power	Not needed or minimal

Everything about cloud mining without investment in our special publication.

Earning money using a mining farm

With mining on a computer, everything became clear. Let's look at farms. Obviously, we are interested in a home farm with some set of devices that will mine electronic money in solo mode, that is, not in some pool, but independently, relying only on its computing power. What equipment should be installed on this farm?

According to btc.com, over the past year from November 2016 to November 2017, only 55,474 blocks were found. The reward for these blocks was shared among 33 mining pools.

Among them is the BitMinter pool with a hashrate of 30.67 PH/s, which “found” only 9 blocks or 0.75 blocks per month. Thus, we can assume: in order to compete with pools for at least 0.75 block/month, a farm in solo mode must have a hashrate no less than that of BitMinter.

• BitMinter pool hashrate 30.67 PH/s = 30,670 TH/s;
• hashrate Bitmain ASIC Antminer S9 13.5 TH/s;
• 30 670 / 13.5 = 168.

Thus, the mining farm should consist of 168 ASICs. Let's calculate what investments you will need to build such a farm:

1. The cost of Bitmain ASIC Antminer S9, according to the manufacturer’s website, is $1415.
2. The cost of 168 ASIC Antminer S9 will be $1415 x 168 = $237,720.
3. Such a farm will require additional funds for heat removal, technical connection of power, laying communications and other costs. To simplify the calculations, we apply a coefficient of 1.5.
4. The final cost of the farm will be $237,720 x 1.5 ~366 thousand dollars, at the exchange rate as of November 13, 2017 ~21 million rubles.

The farm, without a doubt, pays for itself in less than a year, because 9 blocks with a reward of 12.5 BTC at an average annual Bitcoin rate of $4,500 will bring an income of 506 thousand dollars. However, an investment of 366 thousand dollars is hardly available to everyone who wants to make money by mining the world’s main cryptocurrency.

Of course, there are other mining equipment. The farm can be built from the same NVIDIA GeForce GTX 1080 Ti gaming video cards. However, at a cost that is 1.5 times cheaper (~ $1000), its hashrate is several tens of thousands of times inferior to that of an ASIC. In addition, ASICs are more energy efficient mining devices than video cards.

A mining farm is a profitable way to earn bitcoins, however, creating one requires significant investment. There is a way in which a few high-speed mining devices are enough to qualify for a part of the paid reward for the blocks found - participation in mining pools.

Read more in our article: Do-it-yourself mining farm - self-assembly

How to use earned bitcoins - options for using cryptocurrency

It would seem that the use of bitcoins is a personal matter for everyone: it would be pennies, but there are no questions about how to spend it! But it turns out that not everything is so simple. You also need to spend bitcoins wisely .

In the Russian Federation, bitcoins are not prohibited, but they are not legalized either. The laws do not spell out such a thing as “cryptocurrency”. Banks are not yet in a hurry to trade cryptocurrency or accept it from the public. What should we do with our savings, besides transferring them to other money using exchangers?

Option 1. Make international payments

Bitcoins accept hundreds, if not thousands, of foreign resources. This is not a fashion trend, but a market demand.

Example

Petya wanted to make a purchase on eBay because he did not find the product he needed on the Russian market. Paying in rubles will be expensive, but using cryptocurrency is just right. Fortunately, Petya has several thousand satoshi in his wallet.

Payment is a matter of a few minutes. And the commission is minimal or even zero. Petya will only need his wallet number and confirmation of the transfer. Banks and other official structures are at rest - their participation in the matter is not required.

Option 2. Place bets

The popularity of betting on sports and other events with unpredictable outcomes is always high. If you are knowledgeable about this topic and know what online sports betting is, take your bitcoins to bookmakers.

The most progressive companies willingly accept cryptocurrency. I think that in the near future, all bookmakers without exception will do this.

Option 3. Trade on exchanges

Exchange trading is the most reliable and promising object for investing bitcoins. Provided, of course, that you don’t need the money you earn right now. Exchange deposits are serious and long-term.

Option 4: Gamble

A dubious method, but it has the right to life. Card and other online games are in full use on the Internet. And these web services also began to accept deposits in Bitcoin. Online casinos have appeared offering bonuses and jackpots in bitcoins and other resources working with cryptocurrency.

If you are a player and also a lucky one, welcome to the world of excitement and big bets.

Option 5. Invest

The most rational and reasonable method of application from the point of view of increasing capital. But investments are different. The question is not what to invest, but where. There are plenty of promising areas - stocks, startups, gold, your own business, Mars exploration.

On our website there are many articles on this topic in the “Investments” section.

Option 6. Pay for services

Bitcoin was originally conceived as such: as a way to pay for services and goods online without the participation of banks, exchangers and taxes. The method of spending has not lost its relevance even now. Pay for what you need directly without losing money nstrong>Pay for what you need directly without losing money on cryptocurrency exchange.

Bitcoin popularity history

In the beginning, 1 bitcoin was equal to 1 dollar. After a short time, the popularity of this Internet currency increased so much that the rate of one bitcoin reached 800 US dollars. Users who were able to discern the attractiveness of this financial product in time became fabulously rich. Now the bitcoin rate has strengthened even more significantly and varies around 2,700 US dollars. Experts give different assessments regarding the future of virtual money. Some are sure that cryptocurrency is the future, others predict its complete collapse as early as 2022, and others are sure that Bitcoin is a giant pyramid.

Those wishing to obtain more information about the treasured currency can visit the website bitcoin.org, which details the origins and history of the financial product.

How much can you earn on bitcoins - real user reviews

The short answer is that earnings are not limited by anything or anyone. Perhaps the sheer number of bitcoins. Their maximum number is known in advance and is equal to 21 million BTC.

But one person will never have that much money. Yes, you don’t need that much. A few units or tens of bitcoins are enough to get a solid capital for further multiplication.

Reviews about earning bitcoins online are very different. Some criticize hype sites, others boast of profits of 20-50% weekly.

Cloud miner with login “Joker”:

“I’ll tell you honestly how much I earned in three months – 10 bucks. For me, these are pennies that are not worth the time spent. At the same time, I did everything according to the instructions, and my computer is more or less powerful.”

Elena, novice stock trader:

“I had some capital, so it was easier for me to start. In a couple of weeks I increased my contribution by 30%. And then in another two weeks I lost 10% of that. But overall I like it and will continue.”

In other words, only you yourself can answer the questions: how much, in what way and why you need it.

Bounties and airdrops

Bounties and airdrops are one of the oldest methods by which people earn cryptocurrency. Bounties are rewards in the form of tokens that a cryptocurrency/blockchain project gives out after a user has successfully completed a certain task. The tasks may be different, and we talked about this in the article about cryptocurrency bounties.

Developers of new projects are looking for influencers, writers, promoters and testers to help promote their projects in exchange for coins.

Platforms like BitcoinTalk and others are filled with lucrative opportunities for those who want to make money. Projects like Newscrypto have even come up with apps that reward users with their own NWC token for simply using the app.

However, due diligence is a must if one is interested in this so as not to end up promoting a scam that will waste your time and ruin your reputation.

Airdrop, unlike Bounty, is most often given out free of charge. This term (method) is usually used to create maximum noise around the project being promoted. And if you give away some of the coins for free, then word of mouth will work for a new crypto project.

READ

How long will it take to mine 1 Bitcoin in 2022? [mining 1 BTC on the computer]