Since cryptocurrencies first appeared some ten years ago, the word “mining” has been closely related to earning it. Since those days, however, there have been many different ways of earning bitcoin other than mining. Not only that earning it without mining is possible, in most cases, but it is also actually suggested as the better option today. Websites and services like thebitcoinloophole.co can help you find an easier way to make bitcoin. In this article, we will take a closer look at different ways of earning it.
What is Bitcoin Mining?
The mining of bitcoin represents a form of record-keeping service by using the processing power of computers. What you need in order to mine is dozens of high-end GPUs or CPUs connected together. These machines are referred to as “rigs” and people usually store them in specialized rooms. Later, people began using special FPGA and ASIC chips instead of traditional mining computers. Companies that specialize in mining today dedicate entire facilities and large spaces in order to house their enormous operations, including incredible amounts of high-performance hardware for mining.
Considering how expensive such hardware is, not everyone is able to afford a rig. Luckily, when bitcoin is concerned, the options of earning it are basically limitless. Users are constantly coming up with new and unique ways of obtaining their precious digital currencies, so why not try some of them?
1. Various Games and Faucets
The first bitcoin earning options other than mining are faucets and games. These are both the fastest and easiest ways of earning bitcoin. Best of all, anyone can do it. Multiple websites online offer various faucets and games which present a great way to start expanding your bitcoin collection. In addition, you do not need any initial investment to begin!
2. Trading Bitcoin with Contracts for Difference (CFD)
Trading is one of the best and most effective ways of investing and then making more money. More often than not, you do not have to buy bitcoin first in order to trade it. You can simply open a trading account with a secure CFD provider. They allow their users to trade without any commission. Different providers allow different minimum deposits, but most are $100. With this small investment, you then sell or buy more, closely following if the BTC worth goes up or down.
For people who generally condemn gambling, this is not really an option. The high risks involved are simply too much for others. However, there is still a large group of people who actively make more and more bitcoin by gambling with it. This is why it deserves a place on the list. It is a genuine and legal method of obtaining new bitcoin. No special explanation is needed here since it works like any other online gambling. Countless websites offer different casino-type games where people can go all-in with their digital currency. Just be careful, as it is equally addictive as traditional gambling!
4. Accepting Bitcoin as a Payment Method
Merchants and business owners have started accepting bitcoin and other digital currencies as a legitimate payment method. Even though it is still not as widespread as it should be, if you have your own business, think about it. Some people may pay you in bitcoin while it is low. Once it jumps up again, you will make a large passive profit! Even if you often use a buying/selling platform where you trade stuff, by accepting bitcoin you might do yourself and your savings a huge favor. The best thing about it is that it is very simple. Let your customers know that you started accepting bitcoins and sooner rather than later, someone will actually do it.
5. Completing Different Tasks
Thousands of websites award internet users for doing something minuscule. If you do a simple task that takes several seconds, they award you a tiny amount of bitcoin. Tasks include clicking on ads, filling out surveys, or visiting other sites. It does not take much time, and more importantly, it requires no skill, mental, or emotional investment. Find the right provider that offers what you like doing, and you can start making small amounts of bitcoin daily.
6. Interest Payments
For those who already own some bitcoin, this is an ideal option. This is a classic lending operation in which you lend someone your bitcoins and charge interest for them when they start paying you back. You could either lend bitcoins to someone you know and with whom you have done business already or use a trusted peer-to-peer platform specializing in digital currency interest payments as listed on bestcryptoexchangeaustralia
7. Get Bitcoins as Tips and Donations
Being tipped for your service is great on its own. Imagine how good it would then be if someone tipped you in digital currency. Lucky for all of us, this is a possibility. In reality, this way of making bitcoin is very similar to accepting it as payment. Online tipping also includes blogs, vlogs, and streaming. If you consistently make interesting and engaging content and establish a fan base, some of them may donate or tip you in bitcoin instead of regular currency.
8. Making Bitcoins Your Regular Income
Although it may sound strange at first, bear with us here. Some companies have fully switched to paying their employees in bitcoins and other cryptocurrencies. Depending on your line of work, maybe you could find a job at one of these companies. If you are a freelancer, it is even easier to find it, considering most freelancing jobs online are in some way or form connected to the IT sector. You can also set your own terms of business and even make your own prices. Advertise your willingness to accept bitcoin payments, or even ask the customers to pay you in bitcoins. The choice is yours.
As you can see, mining is hardly the only option for making bitcoin. Although it all started with it, in the modern world when technology changes there are now dozens of viable ways of earning bitcoin. If you do not feel like investing in mining hardware, try one of these 8 amazing forms of easily making digital currency.