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11 Ways to Earn Bitcoins & Make Money with Bitcoin (2022 updated) - YouTube
Channel: 99Bitcoins
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What are some of the best ways
to earn Bitcoin today?
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On the other hand, what methods
should you avoid completely?
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Well, stick aroundâŠ
Here on Bitcoin Whiteboard Tuesday,
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weâll answer these questions and more.
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Letâs face it, a lot of people are into
Bitcoin and cryptocurrencies
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in order to make a quick buck.
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Thatâs why todayâs episode
is dedicated exclusively to
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ways you can make money with Bitcoin.
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For some strange reason,
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people tend to think that
because Bitcoin is a new form of currency,
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there is some magical way you can earn it
or make money from it easily.
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Iâm sorry to burst that bubble,
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but Bitcoin is just like
any other currency out there.
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Just like thereâs no easy, risk free way
to make a quick buck
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thereâs no magical way to earn Bitcoin.
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While cryptocurrencies in general
may hold some new possibilities for
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generating income the basics are the same;
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youâll need to invest time,
or money in order to make money.
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Each method Iâll be covering today
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will be graded according to
the following factors:
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How much effort does it take
to use this method?
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How much money can be made
through this method?
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And finally - how risky is this method?
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All of the methods Iâll go over
are things weâve actually tested ourselves
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here at 99Bitcoins,
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so you can rest assured
weâre talking from experience.
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Letâs get started...
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One of the cheapest, easiest
but also most time consuming ways
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to actually earn Bitcoin
is through micro earnings.
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This means that youâll
basically be doing small tasks
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and earning fractions of a coin
for the time you spend.
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Some of the more well-known
micro earnings sites are Bitcoin faucets;
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sites which you repeatedly visit
every few minutes
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in order to claim
a very small amount of coins.
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Faucets are actually a subcategory of
PTC websites, PTC meaning âPay to Clickâ.
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PTC websites will usually have you click
on an ad or on a button on the site
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in order to make money from ad sales.
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In return youâll get a small amount of coins.
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How small?
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Well, from our calculations,
if you work non stop at clicking buttons
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youâll average anywhere between
5-40 cents an hour.
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Not sure thatâs worth your time
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or even the electricity
to run your computer.
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Micro earnings take a lot of effort,
yield very low income
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but are usually a very safe bet.
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While participating as a faucet user
might not earn you a lot of money,
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owning your own faucet
is a whole different story.
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Today, you can build a cryptocurrency
faucet relatively easily
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and earn money from selling ads on your site.
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At 99Bitcoins we have been running
our own faucet for almost 3 years now.
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Depending on the advertisers youâre using
and the amount of traffic you have
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you can make up to $1000/month
running a faucet.
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However, running a faucet requires
a reasonable amount of time and effort.
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Youâll need to set up your own website,
manage users, prevent fraud
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and also bring some initial capital
to fund the faucet when starting out.
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Weâve placed a link to
our complete beginners faucet tutorial
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in the resource section below this video.
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Running a faucet requires
medium to high effort,
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yields low to medium rewards
and entails a medium amount of risk.
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Somewhere around mid-2014,
BitcoinTalk, a leading Bitcoin forum,
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started running signature campaigns.
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Simply put, you could
use your BitcoinTalk signature
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to advertise a product
and get paid for every post you write.
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The complete list of campaigns
can be seen on the forum itself.
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With a signature campaign
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you get paid according to
your membership level on BitcoinTalk.
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Usually, anyone with a status
less than âfull memberâ
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wonât get paid that much, if at all.
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To become a full member, youâll need at least
120 posts under your belt.
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There are also limitations on posts;
such as length, original content, and more.
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Sometimes, thereâs also
a minimum post requirement per week.
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From our experience
you can make up to $5 an hour
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depending no how much you write
and your membership level.
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This, of course, does not include
the number of posts you need to write
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in order to earn the required
membership level on BitcoinTalk.
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You can find additional information about
creating a BitcoinTalk signature campaign
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in the resource section below this video.
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To sum it up, running a signature campaign
takes a medium amount of effort,
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yields low reward and entails little risk.
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One of the fastest, easiest
but also riskiest ways
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you can make money with Bitcoin
is by trading it on an exchange.
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Basically youâre trying to buy Bitcoin
when its price is low
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and sell it when the price rises.
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However, trading successfully
is not a matter of luck or guesswork.
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Profitable traders spend
a substantial amount of time
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learning how to trade
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and how to overcome the many risks
involved with trading.
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Successful traders know
they might lose money in the short term
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but they look at it as an investment
in their education,
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since they are aiming for the long term.
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What Iâm trying to say is that
trading isnât as easy as it looks.
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If you want to become a trader
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make sure you have the time and capital
to invest in good trading education.
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If you want to learn more about trading,
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our resource section below
has a link to another video
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that will give you the basics.
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Iâd say that becoming a successful trader
takes a medium to high amount of effort
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depending on where youâre at in your training,
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can yield high rewards
and entails very high risk.
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One of the most overlooked ways
to make money with Bitcoin
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is by promoting through
various affiliate programs.
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Affiliates are people who promote
a certain business for free
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but receive a commission if they manage to
bring in paying customers.
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Many Bitcoin exchanges, products and services
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have an affiliate program
in which you can enroll.
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You then get your own unique affiliate link
in order to promote that product or service.
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Of course there are many ways
you can promote your affiliate link;
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you can share it on Facebook,
run ad campaigns on different websites
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or even set up your own information site
and promote your links within the content.
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This is actually how 99Bitcoins got started,
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and weâve even published
a book about it called
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âMy Dirty Little Bitcoin Secretsâ
which you can download for free
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in the resource section below this video.
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If you want to know more about this method
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make sure to download the book
and read it from start to finish,
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only then will you understand
the amount of work needed
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in order to become
a successful affiliate marketer.
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In our resource section
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you can also find a list of
highly profitable Bitcoin affiliate programs
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which we have already field tested ourselves.
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Promoting Bitcoin affiliate programs
requires a high amount of effort,
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can yield medium to high rewards
but doesnât entail a lot of risk.
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A very obvious way of
trying to increase your crypto wealth
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would be to gamble on it
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using one of the various
Bitcoin casinos out there.
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Of course thereâs not much
to elaborate on this method
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but if you do decide to risk your money
and try your luck,
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please make sure the casino
youâre using is provably fair.
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A trustworthy Bitcoin casino will know that
their âhouse edgeâ is enough to make a profit
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and therefore will want to
prove to their players
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that they are not manipulating any results.
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They do this through a mathematical
algorithm involving cryptography.
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Bottom line, a provably fair casino
will show you how to check that
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the results of the game you play
are completely random.
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You can find a list of
provably fair Bitcoin casinos
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in our resource section below.
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Gambling takes little to no effort,
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can yield high rewards
but is extremely risky.
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If youâre into crypto
and have a knack for words
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you might want to consider becoming
a crypto journalist or article writer.
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As the crypto industry evolves,
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more and more news and information websites
are popping up.
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In many cases these sites are
in desperate need for writers
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as they are publishing
dozens of articles each week.
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Since good writers are hard to find,
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if you can submit quality work
you may be able to earn a nice revenue stream
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by writing about Bitcoin
and cryptocurrencies
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from the comfort of your own home.
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The best ways to find work as a writer
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would be to look for the âjobsâ section
in your favorite crypto publications.
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You can also email specific sites
youâd like to write for,
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or you can create a writer profile on Upwork,
an international freelance marketplace.
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I can assure you there is
a desperate need for good writers.
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Itâs best if you have
some sample articles on hand
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before applying for a writing job
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as many publications would request
previous work before hiring you.
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Creating a revenue stream
by writing about Bitcoin
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requires a medium amount of effort,
yields medium returns
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and entails little to no risk.
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If youâre not good with words
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perhaps thereâs a different service
you can offer.
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The BitcoinTalk services thread,
thereâs a link to it in our resource section,
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offers a wide variety of services
you can provide in exchange for Bitcoin.
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Some of these include developing a website,
marketing an online product
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or even becoming an Escrow agent
for Bitcoin transactions.
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Moving on.
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Many people that start out with Bitcoin
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are instantly drawn to
the concept of Bitcoin mining.
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I mean, creating magical Internet money
from your home computer?
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What could be better?
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Well, the fact is that today
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Bitcoin mining has become
more of a profession than a hobby.
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It requires extremely expensive equipment,
high electricity costs,
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hardware configuration knowledge
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and physical space to actually
store your miners.
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Weâve put a link
in the resource section below
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to one of our more popular articles
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dealing with the profitability of
Bitcoin mining today.
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Having said that, mining altcoins
is cheaper than what youâd need
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in order to mine Bitcoin.
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But this only means that
the hardware will cost less.
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The other hassles of electricity costs,
configurations, maintenance and so on
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are basically the same.
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Sometimes youâll encounter
a website or mobile app
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that tells you they will mine coins for you.
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Most of these services
are pretty much useless
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and will usually consume your deviceâs
computing power and battery
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just to give you a few cents in return.
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Another option is cloud mining;
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paying someone else to handle
the mining equipment for you.
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While this sounds ideal,
most of the cloud mining sites today
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are just pretending to use your money
for mining operations,
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they are in fact scams.
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Furthermore, while there are
a few legit sites out there,
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the money youâd pay them to mine Bitcoin
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is probably better invested
just buying Bitcoin.
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Of course we always urge you to
do your own market research
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since in the end, itâs your money.
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To sum it up, actual mining requires
a high amount of effort,
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yields medium to high rewards
and is a risky business.
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A very popular way of growing
your Bitcoin wealth
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is through Bitcoin lending platforms.
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These sites connect borrowers
that need crypto
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with crypto owners who lend their coins
for an interest rate.
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Because these loans are ultra risky
the interest rates are pretty high
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which initially seems like a good thing.
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I mean I can make 15% a year on my coins,
whatâs not to love about that?
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Well, since there is no actual collateral
that holds the borrower liable for the loan
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more often than not these loans default
and lenders are left without their money.
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Weâve tested out several loans
here at 99Bitcoins,
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and they all eventually defaulted.
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Thatâs why I recommend to stay away from
this specific method.
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You can read about our experience with
online lending in the resource section.
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Lending your Bitcoin
requires little to no effort,
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potentially holds high rewards
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but is so risky itâs really
not even worth considering.
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Another method I suggest
you avoid are coin doublers
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and High Yield Investment Programs
also known as HYIPs.
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These are sites that claim to
double your coins every few days
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or give you unreal interest rates.
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What these sites actually do is
take money from new users
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and use that money to pay off old users.
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This process creates
a lot of buzz around the site
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that seems to be legit and solvent.
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On top of that, they almost always have
some sort of referral program
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so that users can bring
their friends on board.
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This is how a Ponzi scheme works.
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This will go on for around
3-4 months until one day
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the website will just go offline
and the money will be gone.
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No more payments will be made
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and a lot of people will get mad
that they got scammed.
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We have reviewed several
Bitcoin investment sites
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in the past 3 years
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and have yet to find a site that
we can say is safe to invest in.
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Any site that promises you something
that is too good to be true
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is probably just a facade for scammers
trying to steal your coins.
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How can you find out
if a site is a scam for yourself?
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Easy, use our Bitcoin
scam test tool located in,
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you guessed it, our resource section below.
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Weâre reaching the end of this weekâs episode
and as you can see
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weâve covered a lot of ways
you can earn Bitcoin
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or make money with cryptocurrencies.
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In the end each method has its pros and cons,
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some are more risky while others
take a greater amount of effort.
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In order to make it easier for you to review
what weâve just covered
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we created this table that illustrates
the different methods,
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you can get a better look at it
below this video.
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You may still have some questions.
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And if so, just leave them
in the comment section below.
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And if youâre watching this video on YouTube,
and enjoy what youâve seen,
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donât forget to hit the like button.
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Then make sure to subscribe for
notifications about new episodes.
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Thanks for joining me here at the Whiteboard.
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For 99bitcoins.com, Iâm Nate Martin,
and Iâll see you⊠in a bit.
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