Want to know a secret? You can actually earn Bitcoin without buying it! That being the case, if you’ve had interest in the cryptocurrency industry and you’re unsure of how to venture in, there are several ways to get ahold of your first Bitcoin. Therefore, take a look at the 5 legit ways you can earn free Bitcoin online.
How to Earn Bitcoin the Legit Way
Asides buying Bitcoin from exchanges, some of the easiest ways to earn the cryptocurrency can do the trick of turning you into an investor in the long run. These are by accepting Bitcoin payments, receiving tips in Bitcoin, shopping on platforms to get rewards, trading Bitcoin, and mining the cryptocurrency. Let’s take a closer look at each.
Accepting Bitcoin Payments
Is your business online or offline? Then you can earn Bitcoin by accepting it in exchange for your goods and services. For online platforms, cryptocurrency exchanges like Binance, Coinbase, etc. will provide you with a free Bitcoin wallet.
All that is required to store funds in such wallets is a QR code or Bitcoin address, either of which can be displayed on your website in order to accept funds from your customers. A feature of this nature has been implemented by online food portals in Germany, Russia, and Denmark.
In the same vein, offline businesses can display the logo, ‘Bitcoin accepted here’ within their premises. The latter can go a long way in attracting potential customers who have been seeking ways to purchase items using Bitcoin. An instance is the case of a health spa in Kenya which accepts Bitcoin.
Receiving Tips in Bitcoin
Whether you’re on a social media network such as Twitter or running your own website, you can earn free Bitcoin by accepting tips. Tippin.me, for instance, has provided a widget which can be embedded into websites. Likewise, Twitter users can also receive tips from their followers and basically, anyone that is impressed by their tweets and comments.
Shopping on Platforms
A lot of ecommerce platforms these days reward shoppers with Bitcoin as a way of encouraging them to buy their products and even invite others. If you’re out to get such rewards, then next time you have some cash to spare, consider hitting some of these online stores. For starters, Sephora, an online beauty store which caters to thousands of people in France is currently rewarding its customers with Bitcoin.
Loan Your Bitcoins for Interests
Several platforms which we wouldn’t want to mention allow you to invest your Bitcoin while you get rewarded a fixed interest rate on a daily, weekly, or monthly basis. These companies basically loan your Bitcoin to others while paying interest to you. Others out there have mining farms in certain regions of the country where your Bitcoin is invested in for returns.
Mining Bitcoin for Returns
While interest in Bitcoin mining has declined in comparison to a year ago, miners can still reap an immense profit through this operation. Bitcoin mining in less complex terms involves being the first to solve a mathematical problem that will allow a transaction to be recorded on the blockchain. You can gain as high as 25 BTC as a reward.
However, this is a process that needs sophisticated hardware and consumes a lot of electricity. On a brighter note, there are mining pools which bear the cost of mining activities. These pools supply you the power that is required to mine a block and get rewards.
Now that you know the legit ways to earn Bitcoin for free, it’s up to you to take the next step to make it happen.