12 Ways to Make Money With Bitcoin
We don’t care what anyone says—Bitcoin and crypto are still booming. We haven’t even begun to scratch the surface of this world-changing technology. You might not be able to make millions with crypto based on sheer luck anymore, but there are plenty of ways to make really good money with Bitcoin. Don’t listen to anyone: there is still a lot of opportunity left.
The only issue is that most people waste their time on unprofitable methods or make poorly-planned investments. Be sure to read this guide thoroughly before making any decisions.
Here are 12 proven and reliable ways to make money with Bitcoin. Guaranteed.
We’ve divided them up into categories based on skills needed (if any), level of investment, and potential payout. How much money you want to make is up to how much you’re willing to work for it (or risk!)
How to Get Your First Bitcoin
Before we even get into how to make money with Bitcoin, we should cover how to even get one in the first place. With the BTC explosion in full swing, it’s easier than ever to get your first one and start your journey towards making millions. Here are the two options open to you:
From here, you need to get a good Bitcoin wallet. A Bitcoin wallet is exactly what it sounds like: a wallet for your digital currency. It’s just like the wallet in your pocket except not made with high-quality fake leather. You create an account and it gives you a unique address to store your coins for use anywhere on the web or at local vendors that accept BTC.
Check out the best Bitcoin wallets we trust before getting started.
Now that you’ve got your BTC ready to go, let’s check out some ways to make money. Some require no investment at all.
1) Visit Bitcoin Faucets
Wouldn’t it be great if you could shoot aliens AND make money while doing it? Behold, the world of Bitcoin faucets. A BTC faucet is a website that pays you a reward in exchange for completing a task, usually viewing an ad. All you do is show up, give them a little bit of your time and you receive some crypto in exchange. It is an extremely small amount though. Some sites make you complete captchas, others make you feed a zebra, and still others make you shoot space invaders before receiving your reward. With seniority bonuses and referral programs, some faucets give you a good chance to make good money for no investment at all. A few of the most respected faucets around are:
2) PTC Websites
Pay-to-click websites are another hilariously low-investment opportunity. The returns are also negligible. Basically, these websites will pay you microsums of Bitcoin in exchange for watching ads. Normally, you watch a 5-20 second ad and then the site pays out a small sum. Watching ads all day will likely make you less than $10, though.
TIP: The real money is getting as many referral bonuses as possible. So tell your friends.
Warning: Many charge membership fees. Here are a few reputable names to look for:
Microtasks are a lot like faucets, except they make you complete some helpful tasks for the site. If you have some free time and want to make spare cash by completing a few easy tasks, they’re a great idea. Most have apps, so you can make money standing in line or sitting in traffic. Some sites might make you fill out a survey, others might make you play mobile games or test apps. Again, low payout but minimal investment and super easy. It’s a guaranteed way to make BTC. Isn’t it amazing what frictionless payments can enable?
Depending on what you fancy, we recommend:
Unleash Your Entrepreneurial Spirit
Forget just investing, creating your own currency, or trading—the blockchain explosion has created an entire industry surrounding cryptocurrency. This has created nearly UNLIMITED potential for making money. Entrepreneurs of all backgrounds have flocked to the technology. Whether you are interested in developing support technology, cashing in on the craze with an online asset, or just offering services to support the entrepreneurs of the industry, there’s a way to start making money off of Bitcoin easily.
1) Write About Bitcoin
The world is flush with office dwellers eager to escape the cubicle and set off on an adventure as an independent freelance writer. No chains keeping you down, the freedom to do anything at any time, exciting new topics to write about every day—why are you still reading this article and not getting to work?
In reality, it’s not all fun and games and there’s a lot of competition. But anyone with good English proficiency and solid writing skills can start making money. There are:
And they all need content for search engines and readers. Typically, these pay anywhere from .02 to .10 per word on the high end. It would be helpful for you to learn search engine optimization basics (SEO) to understand keywords and structure. You can easily make $100 per day writing about the technology you love. Of course, it still works.
If you want to take a step up, you can either write copy for the exchanges themselves (homepages, service pages, landing pages) or become a blogger for a major exchange or news outlet. There’s a major difference between content that’s written mainly for search engines and content that’s written to gain authority in an industry. That’s when you start making the big $. The more expertise you have the more you can make. Here are a few resources for beginning writers:
2) Create Online Bitcoin Affiliate Assets
Affiliate marketing is one of the largest online industries. Millions of people around the globe make a living as entrepreneurs right from their couch. The model is simple:
This is a basic overview, but you get the point. If you want to make some passive income, this is how you do it.
What many enthusiastic Cryptonians are doing is setting up blogs or other information directories and driving traffic to their site using content (look for freelance Bitcoin writers!). A lot of work goes into the research, creation, and promotion of each site, but the returns are sky high. Ways to monetize your blog are:
Bitcoin exchanges with good affiliate programs are:
Also, you can earn 10% commission from Trezor, the cold storage Bitcoin safe. If someone buys a Trezor from your link, you will earn $10 from every $100 they spend. It doesn’t sound like much, but if you have hundreds or thousands of people coming to your site, it adds up.
3) Bitcoin SEO
The world of SEO is nothing like what it was even a few years ago. Whereas old SEO was more like manipulating search engines to rank you for keywords, modern SEO is more like optimizing your digital marketing efforts for ranking for the RIGHT keywords and providing the optimal experience for your visitors.
This has lead to a trend of “niching down”. Before, there were just “SEO” companies. Now, it’s SEO by industry. That’s where opportunity for Bitcoin SEO comes into play. If you know how to maintain search rankings (links, content, keywords, on-site, etc.) and you know crypto, it sounds like a perfect match. If you specialize in Bitcoin it increases your efficiency (less time spent on research and higher prices due to your expertise). People in the industry will know you as “that Bitcoin SEO guy”.
The best part? Everyone needs SEO.
You get the picture. The majority of SEO work on retainer fees and these can range anywhere from around $1,000 a month for smaller clients to tens of thousands per month for massive operations. There are plenty of courses around to get started but you don’t really need one. Online resources to check out are :
BONUS: Even if you aren’t a Bitcoin expert yet, you can work with it or find Bitcoin jobs on nearly any exchange. Developers, support personnel, qualitative analysts, content writers, project managers….you get the idea.
Make Money Mining Bitcoin
In the beginning there was darkness….and Bitcoin mining. Making money by mining Bitcoin is perhaps the oldest way of making money from cryptocurrency (aside from investing of course). Before we get into mining, we need to cover some basics.
Make sense? Basically, miners validate the blockchain and receive new BTC as a reward. In the beginning, miners were basically crypto nerds who used their computers for having fun with the currency. Now that BTC is worth a fortune, everyone is doing it.
That’s created a major issue: it’s impossible to compete as a single miner these days.
Major operations have set up entire warehouses full of computers with special programs, so mining using your own computer will be super intensive and won’t return much.
Instead of Bitcoin, consider mining some altcoins:
Here’s an excellent tool to help you calculate what is and is not profitable to mine. Please keep in mind that energy and hardware costs for mining are so high that profiting as an individual is EXTREMELY difficult.
Bonus - Cloud Mining: You don’t need to own all of the equipment or geek out and build systems to make money mining Bitcoin. Cloud mining offers you the ability to harness data centers across the world. All you need to do is download some software or lease hashing power and you can share in the mining craze. Profits are relatively low, but so is investment.
Make Money Gambling on Bitcoin Casinos
If the rush of the bright lights and thrill of the risk is in your veins, Bitcoin has opened up a whole new world of gambling opportunities online. If you think you’ve got what it takes to outwit the competition, consider playing poker for Bitcoin online. Using cryptocurrency will allow you to avoid the financial institutions that have made online gambling so difficult. You can be up and running in as little as 5 minutes without worrying about your bank or the government getting involved. A few of the big names to look for are:
For American poker players, America’s Cardroom also accepts Bitcoin deposits.
Bitcoin is a volatile asset. In just the last few years its value has gone from $140 to $1,000 and back down to $300….all of that before skyrocketing to over $17,000 and crashing back down to Earth. Where it will be tomorrow nobody knows. Still, investing in cryptocurrency (intelligently) is a guaranteed way to make money. Of course, you’ve got to know what you’re doing. Here are a few ways to invest in Bitcoin to see big returns.
TIP: Don’t just invest in Bitcoin. Diversify your portfolio. There are dozens of valuable altcoins you can invest in that could pay major returns in a year or so. Our advice is to do some research on the group behind it, scour forums and get the community’s opinion, and then check the coin’s history. If you still believe in it after all of your research, invest!
Bitcoin Day Trading Trading
Bitcoin trading is the perhaps the most exciting and volatile way to make money with Bitcoin. You don’t have to be the next Wolf of Wall Street to experience the insane highs and lows of this profession. Still, there are a TON of people doing it and making good money.
If you’ve got a good knack for financial markets and expertise in crypto, then trading is for you. You just need to be able to stomach major risk. You need to understand price dynamics and market trends. Also, you need to follow Bitcoin news like a hawk because the price is so dependent on consumer confidence. Here are a few tips:
Aside from day trading, you can also engage in margin trading. Margin trading allows you to trade more crypto than you could using your own funds by letting you “borrow” from the exchange. The higher the leverage, the more you can borrow from the broker. You set the leverage, borrow the funds, and if you make a profit you return the money to the lender.
For example, if you have $500, you can purchase $1,000 worth of BTC at 2:1 leverage from an exchange. The 2:1 means you are putting up half of the money. Now let’s say that the price of BTC rises to $2,000 and you sell. You give $1,000 to the exchange and take $1,000 for yourself. You just made double what you would have on your own. Of course, the higher the gains the larger the risk!
Lending: You can also margin lend to your peers. You lend BTC out for others on your terms (return date, duration, etc.). Set the interest rate and that’s it. Say you lend out 1BTC for 2 days and set the interest rate at .003 BTC, you can make yourself some money just sitting around doing nothing. Life is good.
There you have it. You might not be the next crypto millionaire, but if you use any of these 12 ways to make money with Bitcoin you will start earning profits quickly. Remember, do as much research as you can before investing money. Bitcoin is an extremely volatile asset. And be sure to always keep your savings in cold storage.
To the moon!