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For some strange reason, people tend to think that because Bitcoin is a new type of currency, there's some magic way you can earn Bitcoins or even earn money from it readily. Im sorry to burst the bubble, but Bitcoin is exactly like any other currency out there.
Even though cryptocurrencies in general may hold a few new possibilities for generating income the basics are the exact same youll need to invest time, or money in order to generate money.
All the approaches Ill go over are things weve actually tested ourselves at 99Bitcoins, which means that you can rest assured were talking from experience. Lets get started
One of the cheapest, easiest but most time consuming ways to actually earn Bitcoin is through micro earnings. This means that youll basically be doing little tasks and earning fractions of a coin to get your period you spend.
A number of the well-known micro earnings websites are Bitcoin taps websites which you repeatedly go to every couple of minutes in order to claim a very small amount of coins. Faucets are in fact a subcategory of PTC sites, PTC meaning Pay to Click. PTC sites will usually have you click on an advertisement or on a button on the website in order to make money from ad sales.
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From our calculations, should you work non stop at clicking buttons youll average anywhere between 5-40 cents an hour. Not sure thats worth your time or even the power for running your computer.
While participating as a faucet user might not earn you a lot of money, owning your own faucet is a whole different story. Now, you can construct a cryptocurrency faucet relatively readily and earn money from selling ads on your site.
At 99Bitcoins we have been running our own faucet for almost 3 decades now. Depending on the advertisers youre using and the amount of visitors that you have you can make around $1000/month running a tap.
But, running a faucet requires a reasonable amount of time and effort. Youll need to set up your own website, manage customers, prevent fraud and bring some initial try this out capital to fund the faucet when starting out. Heres our beginners guide to running a faucet.
Somewhere around mid-2014, BitcoinTalk, a leading Bitcoin forum, Â began running signature campaigns. Simply put, you could use your BitcoinTalk signature to advertise a product and get paid for every post you write. The complete list of campaigns can be seen on the discussion .
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With a signature campaign You get paid according to your membership level on BitcoinTalk. Typically, anyone using a status less than full member wont get paid that much, in the end. To become a full member, youll need at least 120 articles under your belt. Additionally, there are limitations on articles; such as length, original content, and more. .
From time to time, theres also a minimum post requirement per week. From our experience you can make up to $5 an hour depending no just how much you write and your membership level. This, clearly, does not include the number of articles you need to write in order to earn the mandatory membership level on BitcoinTalk. .
One of the quickest, easiest but also riskiest ways you can make money with Bitcoin is by trading it on an exchange. Basically youre trying to get Bitcoin when its cost is low and sell it when the cost increases.
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However, trading Bitcoin successfully is not a matter of luck or guesswork. Profitable traders spend a substantial amount of time learning how to trade and the way to conquer the many risks involved with trading. Successful traders know they might lose money in the brief term but they consider it as an investment in their education, since they are aiming for the long run. .
If you want to be a dealer make sure you've got sufficient time and funds to invest in great trading education.
One of the most overlooked ways to make money with Bitcoin is by promoting various affiliate programs. Affiliates are individuals who promote a certain business for free but get a commission if they manage to bring in paying customers.
Many Bitcoin exchanges, products and services have an affiliate program in which you can enroll. You then get your own unique affiliate link in order to promote that service or product.
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Naturally there are many ways you can promote your affiliate link you can discuss it on Facebook, run advertising campaigns on different websites or even create your own information website and boost your links within your content.