Earn Bitcoins by accepting them as a payment method
In my opinion, the main and easiest way to earn Bitcoins is to accept them as a payment method.
If you have a small business, integration is quick and easy.
It doesn’t matter if you have an online store or a traditional physical store or if you sell products or services. You have to follow the next three steps:
There are also other suppliers apart from Coinbase. When you open your account with LocalBitcoins you’ll receive a free Bitcoin wallet with a wide range of features. See which one works best for you.
And remember that no wallet is absolutely free of dangers so be careful with your money. Above all make sure that your Bitcoins are safely stored in 2 or 3 different places.
Display a QR code with your Bitcoin address next to your cash register. There are two options here.
– When you have your wallet, go to the section that says ‘Receive Money’ or ‘Add Funds’ or something similar.
There you’ll get a QR code that has your Bitcoin address encoded. Print the image with the QR code and put it next to your cash register.
Your customers will normally have a Bitcoin app installed on their phones where they can enter the purchase value in dollars or euros. Your apps calculate the corresponding Bitcoins value.
Automatically calculates the current exchange rate to get the correct amount. In your wallet account you will be able to confirm receipt of payment.
– Some wallets offer the ‘Receive Money’ feature. When you earn Bitcoins by receiving them as a form of payment very often it is very useful to use the button called ‘Create a Payment Request’.
There you enter the amount of Bitcoins that the customer must pay and you will automatically show the corresponding QR code.
This way customers don’t have to enter an amount, which makes the payment process easier for them. To use this method, you must first calculate the price in dollars or euros in an amount of Bitcoins before you enter it so that the QR code is generated.
Show the ‘Bitcoin accepted here’ logo at your store entrance to show everyone your innovative payment integration.
That’s it. It’s very easy so start earning Bitcoins now by selling your products and services! This was just a brief description of how to earn Bitcoins by accepting them as a payment method. These links are also useful:
- How to accept Bitcoins for small businesses includes more information for online businesses.
- The Bitcoin Wiki Trade page shows you which other businesses already accept Bitcoins. Add your store here to get more advertising.
- Coinmap is an OpenStreetMap where you can see the geographical distribution of businesses that already accept Bitcoins. Add your store here too.
There are other lists and records where you can add your store. The two mentioned are the ones that work best in my opinion.
If you have a list that you think works very well and is complete, contact me. I would be willing to add other links here.
Earn free Bitcoins by completing steps on websites
There are many pages which offer you to earn free Bitcoins. As is the case with most of these pages, the idea is that you visit the page and just for taking a look you get a small amount of Bitcoins.
The concept has something in common with watching free television. You watch advertisements to see something you really want to see, such as a movie or music videos.
While this concept is legitimate, what you earn for the time you invest is very small. So when you receive Bitcoins from these propaganda pages, the Bitcoins come with a cost of their time.
As the saying goes, there’s no such thing as a free lunch. But take a look for yourself. Here’s a list of some of the pages I think are interesting.
BitVisitor :: Earn Bitcoins by watching web pages or videos. Each page is displayed for five minutes. Then you can click ‘Next’ as confirmation and continue to the next page. What I like about this page is that what you earn, you earn after about an hour or so.
This is a great advantage compared to the other pages that pay Bitcoins in exchange for completing certain steps. Also, you don’t have to have a user account here, just enter your Bitcoin address. The amount of Bitcoin you can win is limited, however.
For five minutes, you can win something like µBTC 100 (that’s 100 microcurrencies or BTC 0.00001) which means that your hourly profit is more or less BTC 0.00012. It’s not a lot of money but it’s a start to earn your first Satoshis and familiarize yourself with Bitcoin.
And keep in mind that the five-minute gain varies. So the above calculation is only valid if the average gain per five minutes is µBTC 100.
freedigitalmoney.com :: Earn Bitcoins by receiving earnings from purchases made at Bitcoin. On this page you don’t need to have a user account either and you just have to enter your Bitcoins address to earn Bitcoins.
CoinWorker :: Win Bitcoins by completing analytical steps. A user account is required. I haven’t tried this service but the profits seem to be a little higher than with the pages already mentioned.
Bitfortip :: Win Bitcoins by responding to forum replies. This is a good service because it attracts people who are interested in Bitcoin and many other topics. At the same time, it allows you to pay in bitcoins for answering questions.
This is something that would not have been possible without a currency like Bitcoin that has a low transaction price and instant transfer.
Earning Bitcoins by completing steps on web pages is a viable option for earning Bitcoins. But don’t expect your income to be too big. I consider it as a first step to familiarize yourself with Bitcoin in general. In addition, it is interesting to see what kind of services have been made available through a smooth money transfer.
Earn Bitcoins with interest payments
If you already have some Bitcoins, put your Bitcoins to work for you. Earn Bitcoins through interest payments by making loans.
Make a loan directly to someone you know. This allows you to personally evaluate whether the borrower is trustworthy to you.
Then the two just have to agree on terms such as duration and interest rate. The disadvantage is, however, that you probably won’t find many acquaintances who are compatible with the amount, duration and interest rate you demand and expect. But it’s a good way to win Bitcoins.
Bicoin’s peer to peer loan pages with listings of various borrowers are another option. Bitbond is an example of a peer-to-peer loan page.
Borrowers post loan applications and you can contribute to the loan. You can finance small portions of many loans and thus diversify your risk of loss.
Bitcoin loans usually work in the same way as a traditional currency loan. The borrower gets a certain amount of money for a certain period of time and repays the money with interest.
There are two things you have to take into account when you make a loan with Bitcoins. The pages must be reliable and the borrower must also be reliable. When the site evaluates applicants’ creditworthiness, the information disclosed about borrowers may be more reliable.
A bank of Bitcoin as a model. Here you deposit your Bitcoins as a deposit with a page that pays a fixed interest rate.
As is normal in these cases, this method has advantages and disadvantages. The good news is that you don’t have to diversify your Bitcoins with multiple borrowers. You just put your Bitcoins with your Bitcoin bank and that’s it.
Earn Bitcoins on a continuous basis with interest income. Be very careful, though. In the previous case of peer to peer loans, you diversify your lending activities with various lenders. In the bank model you trust only one borrower which is the bank in this case. If the bank doesn’t do a good job managing your Bitcoins, everything can be lost all of a sudden.
This is because the bank takes your deposits and invests them in assets, the most important of which are loans. If they do a good job, you’ll be fine because you’ll simply collect interest payments. If they don’t do a good job, you will be affected because your deposit is not insured in the Bitcoin world.
To sum up, borrowing in Bitcoin is a good way to get more Bitcoins from the ones you already have. And please note this statement: only make loans through pages you consider reliable. These pages will comply with the requirements you normally expect from other similar pages that are not based on Bitcoins.
This means they have appropriate terms and conditions, disclose their incorporation status and contact information. Some pages in the Bitcoin world don’t do that and then people wonder what happened to their Bitcoins.
So when you win Bitcoins with Bitcoins-based loans, pay attention to who you’re dealing with and only use Bitcoins that you can afford to lose.
Win Bitcoins by mining
Minar Bitcoins is the process by which new Bitcoins are generated. When you mine, your computer adds new Bitcoin transactions to the block string (a public record where all Bitcoin transactions are saved) and searches for new blocks.
A block is a document that has the most recent Bitcoin transactions recorded on it. When your computer discovers a new block, you receive a certain number of Bitcoins. Currently a block contains BTC 25. This number changes over time and decreases every four years by half.
Since Bitcoins mining has become an intense hardware activity it is therefore a costly activity. That is why most individual miners join what is called a mine pool.
One of the mine commons you can connect to is the BitMinter for example. By giving computer powers to the common pool, you can earn Bitcoins without having to build your own large mining farm.
There are whole communities based on Bitcoins and besides you can win Bitcoins, it’s also fun. You meet new people online and get in-depth knowledge about Bitcoin as a protocol and technology.
If you want to earn Bitcoins by mining, keep in mind that it’s expensive and it’s a time-consuming process. Read the respective introductions and manuals to learn more about the topic. This page is a good starting point.
Unless you’re curious and want to learn about technology, it’s important to do a cost-benefit analysis. Hardware and electricity prices, bitcoin difficulties and the value of Bitcoin influence the profitability of minar Bitcoins.
- If all this sounds interesting to you and you want to earn Bitcoins by mining, do your first calculations in Mining Dashboard.
Earn Bitcoins by receiving tips
When you earn Bitcoins through tips, it’s very much like accepting Bitcoins as a payment method. You need a wallet, a QR code with your Bitcoin address and people who can potentially tip you need to know about it. There are several places where you can receive Bitcoin tips.
- Again, your store is the first place to start if you have one already. It’s a little simpler because since tips are voluntary, you don’t really need to verify that the payment you’re going to receive has arrived and its exact amount. Simply display the QR code and see every day what you have received.
- With tips, the good news is you don’t have to have a store. A blog for example or any other page is enough. You can display your QR code or just your Bitcoin address at the bottom of your page or whatever is convenient and let people decide how much to tip you. You can also see what this looks like on the German blog bitcoins21.
- Another great way to receive tips online is with ChangeTip. This service allows you to integrate tips in the most important social networks, YouTube and GitHub. It’s very good!
- Imagine you have a restaurant and you want customers to tip you with Bitcoins, then there’s a good service for it: bctip is a page where you can print a paper receipt that has a bitcoin balance. When your client has one of them, he or she can simply give it to you or your employee and you can redeem it later as if it were a coupon.
Earn Bitcoins with Stock Trading
Some would say that stock trading is a form of betting. Although the two things have things in common, there are also fundamental differences.
When you bet (assuming it’s a fair game) you have a certain probability that you will win or lose. When you do stock trading with goods, it gets a lot more complex. I don’t want to go into details here. I just want to briefly describe the concept of how you can earn Bitcoins with stock trading.
The easiest way to make money with stock trading is with arbitrage. In itself, this means that you discover an opportunity to buy a good in one place for a certain price and sell it immediately in another place for a higher price.
It is important for you to know that you can sell the good immediately at a certain price. If this is not the case, then we are talking about speculation – or betting, as you prefer to call it.
The Bitcoin world in my opinion offers such arbitrage opportunities. But they are not simple to execute as it might seem at first glance. Price differences between exchange rates often exist for certain reasons.
The speed of traditional money transfers and access restrictions are just some of the most important. You have to find concrete opportunities yourself. A place to start that on Bitcoin StackExchange. Besides, not every opportunity is available to everyone. Go and take a look at the price differences between exchange rates and see if you can get opportunities.
If you want to try arbitration, you have to get Bitcoins almost immediately. One of the few places where you don’t need to create an account is in bit4coin.
If you find an opportunity and want to act immediately, this is a way to get Bitcoins quickly. If you can win Bitcoins with arbitration, it can be very profitable after all. But it starts cautiously because it requires a certain amount of experience.
The other way to earn Bitcoins with stock trading is with simple speculation. In this case you would buy Bitcoins, expect the price to increase and then sell it for a coin of traditional domination. When the price falls, you buy more Bitcoins and start over. For this to work, you have to be very lucky or be able to predict the future.
There are people who are good traders and who can recognize patterns by looking at price charts.
But that’s a very specialized thing and I’m not sure you believe that. So for me, if you want to win Bitcoins in this way, it can also be categorized as bets.
And actually, it’s riskier if you compare it to a fair game where you know the odds. When you speculate with goods, you can extract your probabilities from historical prices. But never begin to believe that this can tell you anything about the future reliably.
Earn Bitcoins as regular income
Receiving your monthly salary at Bitcoin is probably the most regular way to earn Bitcoins. There aren’t many organizations that would pay you on Bitcoins but at least there are some.
And perhaps there will be more as acceptance increases continuously. Gavin Andresen, principal developer of the Bitcoin Foundation said in this interview that he receives his salary at Bitcoins. And it may be that if the company you work for accepts Bitcoins then it is willing to pay you in Bitcoins.
In addition to being employed by a company or non-profit organization, you can be an entrepreneur yourself and receive payments at Bitcoins. Here is a list of pages where you can get job offers or where you can place an offer yourself. It is a very convenient way to receive Bitcoins as salary in this way because many jobs can be done from home.
- WorkForBitcoin is a page where you can do both place a job ad and search for an ad. Many of the available jobs are related to programming. But there are other fields as well and it’s worth seeing if there’s something you’re interested in.
- Bitcointalk Forum Services Section is another starting point for looking for jobs that are paid for in Bitcoins. Some of the work is easily done within a short time so it’s a good way to earn Bitcoins quickly.
- Jobs 4 Bitcoins on reddit has a focus on job advertisements for programmers. Again, it’s not just programming and it’s definitely worth taking a look at the different offers.
- BitGigs on a job posting page with variety in job postings. The variety is really impressive so take a look.
- Coinality is different by the fact that you don’t just place job ads where you can win in Bitcoins but you show the offers on a map. This is useful if you are interested in a job that is close to where you live. The number of ads is not very high but when you increase the offers over time it will become more interesting.
- XBTFreelancer is another paid job advertisement page on Bitcoins. These jobs are mostly software related. If you have a programming or computer skill, then it’s probably easy for you to earn Bitcoins with your experience.
And of course, you can start your own Bitcoin-related business and earn Bitcoin that way. You can have a business selling products or services or manage a website and place CoinURL ads.
If you want to get started or already have a traditional physical store, go here to download for Bitcoins. The information shows you how easy it is to integrate Bitcoins as a payment method in your store.
Win Bitcoins by betting – (not something for everyone)
To be honest, I’m not an amateur gambler. But it’s a way to earn Bitcoins so to complete this list, it has to be mentioned here.
However, I will not list the links to the betting pages here. It’s very easy to find them if you’re interested. And if you click on some of the links above, you probably already found some of the betting pages on Bitcoin.