Practical Methods to Earn Bitcoin in 2021
There are several popular and practical methods to earn Bitcoins in 2021.
Ways to Earn Bitcoin in 2021
Bitcoin has been gaining massive attention as a financial instrument and investment vehicle in the last few years.
From reaching $50,000 in 2021 to a rise in the number of active wallets, Bitcoin has drawn attention from institutional investors and individual users alike.
In 2021, the google search for Bitcoin has also dramatically increased.
The growth in the overall cryptocurrency industry has led to the emergence of innovative methods to access Bitcoin.
While mining and trading remain popular methods to earn Bitcoins, several new ways to access BTC have emerged in 2021. In this article, we have compiled the practical methods to earn Bitcoin in 2021
HODLING (No, it’s not a typo)
“Hodlers” are long-term cryptocurrency holders who purchase digital assets and store them regardless of fluctuations in price. Bitcoin hodlers generally store the asset looking to capture long-term gains.
To become a Bitcoin hodler, you need a secure Bitcoin wallet and the capital you want to invest. This method is not suitable for traders who are looking to make short-term gains through crypto.
Affiliate Marketing
The rise in the popularity of cryptocurrency and blockchain has led to the development of several platforms engaging in products or services for digital assets.
Affiliate marketing is one of the common methods used by these platforms to promote their services in the crypto community.
To use affiliate marketing to earn Bitcoin, all you need to do is sign up on a platform, register on its affiliate program, and bring friends/families into the platform. The majority of exchanges and arbitrage platforms will incentivize you to recommend their service to new users. Did you know Cryptohopper has an affiliate program?
Bitcoin Faucets
A Bitcoin faucet is a program that rewards people with fractions of Bitcoins for completing microtasks. Examples of tasks include product videos, completing surveys and quizzes, and solving captchas.
While these tasks are easy, the prospect of making money through faucets is not easy. This is because the rewards are small and might take time to reach the withdrawal threshold of that particular faucet.
Bitcoin Tips
Tips are similar to Bitcoin faucets, but in this case, you are helping people complete certain tasks and receive your tips in BTC. These tasks could help someone download a game, install software or answer technical questions on the internet.
Content Creator
You could become a digital content creator to help people learn more about Bitcoin. The best way to become one is to learn how to craft informative articles around the digital currency or create youtube videos.
Several crypto and blockchain projects, as well as educational websites, are seeking quality content on Bitcoin. These websites also offer Bitcoin as a payment method for providing services of creative content on blockchain and crypto.
Moreover, several freelancing platforms have also emerged that offer disbursement in Bitcoin and even Ethereum.
Bitcoin Trading
The volatility in Bitcoin prices is one of the reasons for traders choosing to earn Bitcoins through trading in 2021.
However, it is necessary to understand the Bitcoin market and perform fundamental and technical analysis in order to trade with the aim of earning Bitcoins.
Proven successful traders in crypto have years of experience and knowledge. Hence, it is vital to have risk management skills, capital, and knowledge of the market.
Lending your BTC
Crypto lending has emerged as a way of giving out or receiving cryptocurrency loans. This is an excellent way of making money that could benefit from the funds you already hold. There should be at least three parties involved when lending Bitcoin.
Mining
The original way to earn Bitcoins was through mining. Mining refers to the verification of blockchain transactions by solving complex equations and providing proof of work.
One could mine Bitcoin alone or by joining a pool. Solo mining refers to practicing the operations of mining and subsequently receiving rewards on an individual basis. Pool mining involves contributing computing resources and sharing the cost of mining.
The profits are shared based on the amount of computing power each pool participant provides.
Bottom Line
There are a number of options for folks looking to increase their BTC holdings. Remember to conduct your background research before using any platform that promises BTC incentives.
