A common question amongst a lot of people these days is: ‘How to get bitcoin?’
And for the right reason since bitcoin is quickly making its way into the mainstream economy with many deeming it to be the currency of the future.
What's even more interesting is that if you own bitcoin or any other cryptocurrency there are several ways for you to earn an extra profit on it.
In this post, we will look at some of the ways you can earn bitcoin without having to trade fiat for it.
Earn bitcoin by selling products/services
Good ol’ e-commerce is one of the sure-shot ways to earning some of those sweet satoshis.
Well, you would have to market your product at the right channels and create a customer base but yes, it does work!
eCommerce is on a boom right now! With 2020 resetting the global economy to be more digital, there is perhaps a no better time to start selling some of your products or services online than now.
To get started, you of course would need a product that you can sell. Thankfully, when it comes to selling online there really is no limit, from physical to digital almost any product can now be sold online.
After you have got your product sorted, it’s time to create a webstore. You would need some technical help to get you started on this. Thankfully there are a lot of tools that can help you get started in no time.
Here is a list of top 5 ways to sell digital products for bitcoin.
Once your webstore is created all you need to do is integrate a bitcoin payment gateway and you are ready to receive bitcoin as payments for your products.
Some of the major bitcoin payment plugins include:
Earn bitcoin with affiliate programs
One of the most popular programs, affiliates have made a presence in almost every industry known today, including cryptocurrency.
Affiliates or referrals is a process through which you can earn commission revenue by bringing in customers to a company. It is based on a profit-sharing model that benefits both the company as well as you.
If done right affiliates are a great way to earn recurring passive income, which means that you get to wake up to some extra money. Now that’s a sweet deal!
What’s even better is the ease with which one can get started with an affiliate program. In most cases, affiliates simply involve sharing a unique link online.
If you have an online presence (website, youtube, social media) that sees a lot of traffic or a strong network of people then affiliate programs might just be for you.
Some popular affiliate programs within the cryptocurrency space include:
Earn bitcoin by creating content
Ever wanted to be a YouTuber? Or, maybe you have a flair for writing?
Creating a YouTube or blog can be one of the ways to earn bitcoin and if you manage to bring in regular traffic you may have a steady stream of bitcoin in your hands.
Well, you should be, but before you get your hopes up, do keep in mind that vlogging and blogging are two highly congested and competitive markets. So succeeding here would require quite a lot of effort.
But, this does not mean that it is impossible.
Writing the right content, doing some SEO, hitting up some nice publications, and marketing at the right channels and you might just end up succeeding quicker than you think.
And remember there is no secret recipe that you need to follow to succeed.
As much as good quality content matters in your success, other factors such as right marketing, audience demand, market saturation all play a role in making or breaking your work.Data Dash: Top Blockchain Youtuber [Source]
In the initial days of bitcoin, there were a lot of budding vloggers and bloggers who gained success simply because the market was new and opportunities were immense. However, now the market is much more saturated making it harder than before to succeed.
Get paid for your job in bitcoin
Blockchain-related jobs are all the rage right now, in fact, blockchain is one of the most desirable tech skills for 2020.
With increasing mainstream adoption, blockchain and crypto-related jobs are going to see an influx in demand.
Unlike traditional companies, majority of blockchain companies almost always make their payments in cryptocurrency, making them a great way to earn a living as well as some crypto.
Every job portal these days has started listing blockchain-related jobs and with time this trend is expected to increase.
There are several blockchain dedicated portals you can use to find such jobs and start earning some digital coin, including:
Earn bitcoin in video games
Earning crypto while video gaming might just be the gold mine waiting to be found.
Gaming is one of the ‘hottest’ spaces right now, with over 2.7 Billion gamers all over the world, which accounts for 1/3th of the world population. Its market worth in 2020 stands at $159.3 billion.
Blockchain gaming comes with a host of benefits for both players and developers giving birth to a whole new gaming economy.
With the power of blockchain, gamers can now earn crypto as they play the game. These earnings come in the form of rewards, asset trades, in-game purchases, and much more.
CryptoKitties, the world’s first blockchain game, allows players to breed, sell, buy, collect virtual cats. The game based on the Ethereum blockchain and is the first game to provide full ownership of its assets to the players with some cats being sold for as high as $300,000.
The first blockchain-based game made for mobile Spell of Genesis is a mix between point and shoot arcade-style gaming and trading cards. These cards can also be fused together using the process called ‘Blockchainization’. This essentially allows users to convert their in-game cards into real-world blockchain assets.
There are many games that have launched or are in the process of development that employs blockchain technology allowing a way for gamers to earn crypto.
Other popular blockchain games include Age of Rust, Gods unchained, Neon District, 0xUniverse.
The crypto earned can be exchanged for a currency of your choice including bitcoin.
Other ways to earn bitcoinBitcoin Faucets
Faucets are websites that pay a minuscule amount of bitcoin for completing mundane tasks such as clicking a link, watching a video, validating a captcha, etc.
Such services are good for beginners who are looking to dip their toe in bitcoin and hold some satoshis without risking their own money.Arbitrage
Arbitrage is a trading term where you use the price difference between the different exchanges to make a profit, meaning you buy at an exchange with a low price and sell it at an exchange with a high price.
Despite being in a nascent stage bitcoin economy has something for everyone.
If you have a creative bone in you then you can head down the path of creating interesting and unique content that would attract an audience.
Or, if you have a flair for gaming then consider venturing into blockchain gaming.
The bitcoin economy is growing at an impressively fast pace and there is no doubt with time we would see more diverse and creative ways to make bitcoin.
Until then go ahead and pick your choice from the list above.
Whichever option(s) you choose do, make sure to do proper research and the associated risks involved before getting into it. Bitcoin is a volatile and nascent market and the risks involved are often times high.
This is a companion discussion topic for the original entry at https://insights.blockonomics.co/how-to-earn-bitcoin/