With everything that happened in 2020 it’s no surprise that people are looking for alternative avenues of income. Now is the chance to start the year off fresh and empowered and make some extra money from the original cryptocurrency. To celebrate financial empowerment and twelve years of cryptocurrencies, here are 12 practical ways to make money with bitcoin in 2021.
How to make money with bitcoin
This Bitcoin term was coined in a Bitcointalk forum in 2013 when a drunken participant misspelled the word “hold”. The term caught on and 8 years later is still used to describe the act of buying and holding cryptocurrency. There is no timeline on when you need to sell, so try to hold on for as long as possible and ride out the waves of highs and lows.
Since Bitcoin’s inception many early investors are now sitting with sizable returns. While investing today might not bring about such lucrative returns, there are sure to be profits made as the cryptocurrency continues to grow and reach new all time highs.
#11 Lending Crypto
A step up from just hodling, users can put their money to work. Several platforms, although more commonly with Bitcoin, allow users to loan out their crypto with an interest rate. These platforms connect lenders to borrowers and help to establish a sense of security and rules. Why not hodl and earn a passive income in one go? Here are some platforms to check out to get you started: BTCpop, Bitbond, and Unchained Capital.
#10 Get Tipped In Crypto
You might like to know that there are various sites that allow users to tip other users for their help, humour, or content. Some platforms might require you to answer a question or assist in an online enquiry, like BitforTip as an example. The platform supports Bitcoin, Bitcoin Cash and NANO and allows users to post a question for a reward of their choice. As cryptocurrencies allow for the micropayments, the process is simple and wonderfully modern.
Other platforms that allow for tipping in crypto are gaming sites like Twitch, Tipprbot which links to Twitter and Reddit, and many more. Here is a good place to start if you’re looking for some micro tipping ventures.
#9 Crypto Mining
The standard process of crypto mining is being able to solve a cryptographic puzzle using computer equipment first in order to gain the reward. Rewards on networks tend to vary, and some require more complicated computer equipment than others, however there are several cryptocurrencies that are worth mining in 2021. Here is a good indication of what cryptocurrencies are worth mining, what they require, and how you can build yourself a sustainable passive income.
#8 Microjobs and Pay-to-Click (PTC) websites
On par with tipping, the next step up is microjobs. Although the micro jobs are more deliberate and require a lot more effort. There are plenty of platforms like Cloudfactory, Coinpayu and adBTC that ask users to complete mundane tasks like watching a Youtube video or completing a survey. These micropayments are, as they might sound, miniscule, but if you’re willing to put in the time and effort they can end up being quite lucrative.
#7 Bitcointalk Forum Campaigns
The original Bitcoin forum set up by Satoshi Nakamoto himself is another one of our 12 practical ways to make money with crypto in 2021. Users who post often and have accumulated an authority among the masses can tap into the sponsored signature avenues. Sponsored signatures can eventually earn you money for each post you make.
#6 Writing about Crypto
If you’ve got a knack for words and a good understanding of cryptocurrency why not put your skills to the test and earn crypto? As the space is still somewhat unoccupied, there are plenty of opportunities to put out good content and get paid for it. Interested, and skilled, users can look to freelance platforms like UpWork or blockchain focused platforms like CryptoCurrency News and Blockchain Aliens.
#5 Gambling Crypto
In recent years the online gambling scene has exploded with many online casinos accepting Bitcoin and many other cryptocurrencies to play, bet and win with. We’ve outlined the ins and outs of crypto gambling, as well as the best places to try your luck.
#4 Using Crypto Faucets
Another easy way to earn crypto with minimal effort are crypto faucets. Minimal effort but maximum time. Usually the process is as simple as clicking a button, but the rewards are minimal so one would need to commit some time before making huge amounts of money. Faucets may vary from watching ads or answering surveys to mini games and merely clicking the right button.
A definite level up from crypto faucets, trading crypto is a much more (potentially) rewarding endeavour. Trading takes discipline, market knowledge, and plenty of research, but if you’re up for the challenge, it can be equally rewarding. Using various methods, the idea is to take advantage of the market’s volatility and buy low to sell high.
#2 Affiliate Marketing
Affiliate marketing is an opportunity for users to invite their friends, family and following to a particular platform and earn money. Here at Oobit we run a fantastic affiliate program that can see you earning a passive income for minimal effort. You can learn more about it here.
#1 Accepting Crypto As Payment
Another excellent way to make money with crypto in 2021 is through accepting crypto as a payment option. Incredibly easy, all you need to do is link up your wallet to your website or get a small sign printed that sits next to the register. As cryptocurrencies have boomed over the years, more and more merchants are accepting them as payment options – and more and more people are paying with them. Simple, international and easy to set up, crypto payments are a giant step forward for mankind.
12 Practical Ways To Make Money With Bitcoin In 2021
There are an endless number of ways to make money from crypto this year, why not try your luck at some – if not all – of them? If the way that cryptocurrencies have evolved over the past decade is anything to go by, the next decade is sure to be equally exciting. Tap into the undeniably powerful world of cryptocurrencies and reap the rewards.