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How to Earn and Make Money with Bitcoin

By: Alexander Reed | Last updated: 2/20/24

A lot of people are into Bitcoin and cryptocurrencies in order to make a quick buck. Today’s post is dedicated exclusively to ways to earn or make money with Bitcoin for free.

Don’t like to read? Watch our 2-minute tutorial instead


Earning Bitcoin Summary

While there are many ways you can make money with Bitcoin, in the end, there are no free meals. Earning Bitcoin online takes time and money, and most methods promising free Bitcoin will not be worth the time wasted on them.

How can I earn Bitcoin for free?

  • Shopping rewards
  • Interest-bearing accounts
  • Staking
  • Micro earnings
  • Owning a faucet
  • Signature campaigns
  • Trading Bitcoin
  • Affiliate programs
  • Gambling
  • Writing about Bitcoin
  • Supply a Bitcoin-related service
  • Bitcoin Mining
  • Bitcoin Lending
  • HYIPs / Coin doublers
  • Bitcoin forks

Ways to Make money with Bitcoin

If you want a detailed explanation of all the methods, keep reading. Here’s what I’ll cover:

  1. How Can I Earn Bitcoin Online for Free?
  2. Shopping rewards
  3. Interest-bearing accounts
  4. Staking
  5. Micro earnings
  6. Owning a faucet
  7. Signature campaigns
  8. Trading Bitcoin
  9. Affiliate programs
  10. Gambling
  11. Writing about Bitcoin
  12. Supply a Bitcoin-related Service
  13. Mine Bitcoin
  14. Lend Bitcoins
  15. HYIPs / Coin doublers
  16. Bitcoin forks
  17. Conclusion

Watch our detailed video guide here


1. How Can I Earn Bitcoin Online for Free?

People tend to think that because Bitcoin is a somewhat new form of currency, there is some magical way you can earn Bitcoin or make money from it easily. I’m sorry to burst your bubble, but Bitcoin is just like any other currency out there.

Just like there’s no easy, risk-free way to make a quick buck, there’s no magical way to earn Bitcoin.

While cryptocurrencies, in general, may hold some new possibilities for generating income, the basics are the same – you’ll need to invest time or money in order to make money.

I’m going to cover different ways you can earn Bitcoin in this post. Each method I cover will be graded according to the following factors:

How much effort does it take to use this method?

How much money (income) can be made through this method?

How risky is this method?

All of the methods I’ll go over are things I’ve actually tested myself, so rest assured, I’m talking from experience.


2. Shopping rewards

EffortLow

IncomeMedium

RiskLow

You can earn free Bitcoin when doing your regular shopping online. To use shopping reward companies, you need to download an extension to your browser, use it as a checkout on various brands, and you can earn up to 30% cashback on your purchases. This is a great way to earn Bitcoin while shopping for stuff you were gonna buy anyway. 

Lolli is a US shopping rewards company that gives users 30% cashback in Bitcoin rewards when they shop online at over 25,000 top merchants, including Nike, Booking.com, Macy’s, Staples, and more.

CoinCorner is a UK company that offers up to 40% cashback when users shop at over 1,000 top brands. CoinCorner supports well-known brands like Trip.com, Qatar Airways, Boots, SimplySupplements, B&Q, O2, JD, and much more.


3. Interest-bearing accounts

EffortLow

IncomeMedium

RiskMedium

If you already own cryptocurrency, you can deposit it in an interest-bearing account and gain interest on it. There are several companies that supply this type of service, the most popular ones being YouHodler and Nexo.

Most companies that supply Bitcoin loans also allow customers to lend out their Bitcoin for interest. If, for example, you don’t need cash, you can still deposit your Bitcoin and receive annual interest on your deposit. This means your Bitcoin can generate additional income for you instead of just lying around in your Bitcoin wallet. To learn more on how to earn interest on your crypto, visit this page.


4. Staking

EffortLow

IncomeMedium

RiskHigh

Certain cryptocurrencies allow you to lock up a portion of your holdings in order to participate in transaction validation on their network. This is known as staking, and it’s the energy-efficient alternative to cryptocurrency mining. The more coins you stake, the higher your chances of being chosen as a validator and earning rewards. You can read our full guide on ‘What is Staking‘ to learn more about it.

Some popular cryptocurrencies that allow staking today are Solana, Polygon, Tezos, Cardano, and Ethereum


5. Micro earnings – Faucets, PTC, Micro jobs

EffortHigh

IncomeLow

RiskLow

One of the cheapest, easiest, but also most time-consuming ways to actually earn Bitcoin is through micro earnings. This means that you’ll basically be doing small tasks and earning fractions of a coin for the time you spend.

Some of the more well-known micro earnings sites are Bitcoin faucets – sites that you repeatedly visit every few minutes in order to claim a very small amount of coins.

Faucets are actually a subcategory of PTC websites, PTC meaning “Pay to Click.” PTC websites will usually have you click on an ad or a button on the site in order to make money from ad sales. In return, you’ll get a small amount of coins.

How small?

From my calculations, if you work nonstop at clicking buttons, you’ll average anywhere between 5-40 cents an hour. Not sure that’s worth your time or even the electricity for running your computer.


6. Owning a faucet

EffortMedium to high

IncomeLow to medium

RiskMedium

While participating as a faucet user might not earn you a lot of money, owning your own faucet is a whole different story. Today, you can build a cryptocurrency faucet relatively easily and earn money from selling ads on your site.

At 99Bitcoins, I ran my own faucet for almost 3 years until I decided to focus on other things. Depending on the advertisers you’re using and the amount of traffic you have, you can make up to $1,000/month running a faucet.

However, running a faucet requires a reasonable amount of time and effort. You’ll need to set up your own website, manage users, prevent fraud, and also bring some initial capital to fund the faucet when starting out. Here’s my beginner’s guide to running a faucet.


7. Running a signature campaign

EffortMedium

IncomeLow

RiskLow

Somewhere around mid-2014, BitcoinTalk, a leading Bitcoin forum, started 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 forum itself.

With a signature campaign, you get paid according to your membership level on BitcoinTalk. Usually, anyone with a status less than ‘full member’ won’t get paid that much, if at all.

To become a full member, you’ll need at least 120 posts under your belt. There are also limitations on posts, such as length, original content, and more. Sometimes, there’s also a minimum post requirement per week.

From my experience, you can make up to $5 an hour depending on how much you write and your membership level. This, of course, does not include the number of posts you need to write in order to earn the required membership level on BitcoinTalk.


8. Become a crypto trader

EffortMedium to high

IncomeHigh

RiskHigh

One of the fastest, easiest, but riskiest ways you can make money with Bitcoin is by trading it. Basically, you’re trying to buy Bitcoin when the price is low and sell it when the price rises.

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 how to overcome the many risks involved with trading. Successful traders know they might lose money in the short term, but they look at it as an investment in their education since they are aiming for the long term.

If you want to become a trader, make sure you have the time and capital to invest in good trading education.


9. Bitcoin affiliate programs

EffortHigh

IncomeMedium to high

RiskLow to medium

Perhaps one of the most overlooked ways to make money with Bitcoin is through promoting various affiliate programs. Affiliates are people who promote a certain business for free but receive a commission if they manage to bring in paying customers.

Many Bitcoin exchanges, products, and services have an affiliate program for which you can sign up. You then get your own unique affiliate link in order to promote that product or service.

Of course, there are many ways you can promote your affiliate link – you can share it on Facebook, run ad campaigns on different websites, or even set up your own information site and promote your links within the content.

This is actually how 99Bitcoins got started, and I’ve even published a book about it called “My Dirty Little Bitcoin Secrets,” which you can download for free. If you want to know more about this method, make sure to download the book and read it from start to finish – only then will you understand the amount of work needed in order to become a successful affiliate marketer.

Also, here’s a list of highly profitable Bitcoin affiliate programs that I have already field-tested myself.


10. Gambling in Bitcoin casinos

EffortLow

IncomeMedium to high

RiskExtremely high

A very obvious way of trying to increase your crypto wealth would be to gamble on it using one of the various Bitcoin casinos out there. Of course, there’s not much to elaborate on this method, but if you do decide to risk your money and try your luck, please make sure the casino you’re using is provably fair.

A trustworthy Bitcoin casino will know that their “house edge” is enough to make a profit and therefore will want to prove to their players that they are not manipulating any results. They do this through a mathematical algorithm involving cryptography.

Bottom line, a provably fair casino will show you how to check that the results of the game you play are completely random. You can find a list of provably fair Bitcoin casinos on our site as well.


11. Write about Bitcoin

EffortMedium

IncomeMedium

RiskLow

If you’re into cryptocurrencies and have a knack for words, you might want to consider becoming a crypto journalist or article writer.

As the crypto industry evolves, more and more news and information websites are popping up. In many cases, these sites are in need of writers as they are publishing dozens of articles each week.

Since good writers are hard to find, if you can submit quality work, you may be able to earn a nice revenue stream by writing about Bitcoin and cryptocurrencies from the comfort of your own home.

The best way to find work as a writer would be to look for the “jobs” section in your favorite crypto publications. You can also email specific sites you’d like to write for, or you can create a writer profile on Upwork – an international freelance marketplace.

It’s best if you have some sample articles on hand before applying for a writing job, as many publications would request previous work before hiring you.


12. Sell a related product or service

Effort – Varies

Income – Varies

Risk – Varies

If you’re not good with words, perhaps there’s a different service you can offer. The BitcoinTalk services thread offers a wide variety of services you can provide in exchange for Bitcoin. Some of these include developing a website, marketing an online product, or even becoming an escrow agent for Bitcoin transactions.


13. Mine Bitcoin

Effort – Medium to high

Income – Medium to high

Risk – High

Many people who start out with Bitcoin are instantly drawn to the concept of Bitcoin mining. I mean, creating magical Internet money from your home computer? What could be better?

The fact is that today, Bitcoin mining has become more of a profession than a hobby. It requires extremely expensive mining equipment, high electricity costs, hardware configuration knowledge, and physical space to actually store your miners.

Mining altcoins (e.g., Ethereum mining) is cheaper than what you’d need in order to mine Bitcoin. But this only means that the hardware will cost less. The other hassles of electricity costs, configurations, maintenance, and so on are basically the same.

Sometimes, you’ll encounter a website or mobile app that tells you they will mine coins for you. Most of these services are pretty much useless and will usually consume your device’s computing power and battery just to give you a few cents in return.

Another option is cloud mining – paying someone else to handle the mining equipment for you while sharing the profits. While this sounds ideal, most of the cloud mining sites today are just pretending to use your money for mining operations, while they are, in fact, scams.

Furthermore, while there are a few legit sites out there, the money you’d pay them to mine Bitcoin is probably better invested just by buying Bitcoin (as can be seen with my Genesis Mining analysis).

Of course, I urge you to do your own market research since, in the end, it’s your money.


14. Bitcoin Lending

EffortLow

IncomeMedium to high

RiskExtremely risky

A very popular way of growing your Bitcoin wealth is through Bitcoin lending platforms. These sites connect borrowers who need crypto with crypto owners who lend their coins for an interest rate. Because these loans are ultra-risky, the interest rates are pretty high, which initially seems like a good thing.

I mean, I can make 15% a year on my coins. What’s not to love about that?

Well, if there is no actual collateral that holds the borrower liable for the loan, then more often than not, these loans default, and lenders are left without their money. Some time ago, I tested out several uncollateralized loans here at 99Bitcoins, and they all eventually defaulted. That’s why I recommend to stay away from this specific method.

Recently, some new players on the market started to offer Bitcoin loans, which are collateralized with the borrower’s Bitcoin. These platforms also let you earn interest on your Bitcoin or stablecoins, but due to the collateral, it is a more secure solution. Here, I reviewed the best Bitcoin loan sites.

As always, please do your own research before investing money anywhere.


15. HYIPs and coin doublers

EffortLow

IncomeMedium to high

RiskExtremely risky

Another method I suggest you avoid is coin doublers and High Yield Investment Programs, also known as HYIPs. These are sites that claim to double your coins every few days or give you unreal interest rates.

What these sites actually do is take money from new users and use that money to pay off old users. This process creates a lot of buzz around the site that seems to be legitimate and solvent.

On top of that, they almost always have some sort of referral program so that users can bring their friends on board.

This is how a Ponzi scheme works. This will go on for around 3-4 months until, one day, the website will just go offline, and the money will be gone. No more payments will be made, and a lot of people will get mad that they got scammed.

I have reviewed several Bitcoin investment sites in the past and have yet to find a site that I can say is safe to invest in. Any site that promises you something that is too good to be true is probably just a facade for scammers trying to steal your coins.

How can you find out if a site is a scam for yourself? Easy. Use the Bitcoin scam test tool to get a fair assumption about a site’s legitimacy.


16. Claiming Bitcoin forks and airdrops

EffortMedium

Income – Varies

RiskHigh (especially for non-technical users)

Starting around August 2017, Bitcoin began “forking” into other coins. In a nutshell, forking means a new “Bitcoin clone” emerges from the existing Bitcoin. Every person who held Bitcoin before the fork can now claim the new coin as well.

The first popular fork was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond, and more. The process for claiming forked coins (aka forkcoins) is standard but requires an above basic understanding of how Bitcoin works. You can view my fork-claiming guide here.

Keep in mind that if you’re not sure what you’re doing when claiming a forkcoin, you could end up losing your Bitcoin. So, for most non-technical users, it would be better to pass on a fork and keep your Bitcoin safe.

Other alternatives include companies that claim the coins for you and take a commission – but this could easily turn into a scam that runs away with your money.

Once you claim a forkcoin, you can sell it on an exchange for Bitcoin or other cryptocurrencies, assuming it has a market.

Airdrops

Airdrops are similar to forks in the sense that you “get coins out of thin air.” Airdrops are usually used to spread the word about a certain cryptocurrency. The currency is distributed freely to the public, although in some cases, some conditions can apply.

For example, Byteball was distributed freely to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops may be the highest value for time method you can use to make money from your Bitcoin, but they can be SUPER risky. Additionally, you’ll probably need to have an initial amount of Bitcoin to claim them.

I would advise you to use these methods only after ample research and a good understanding of the claiming process.


17. Conclusion

I’ve covered a lot of ways you can earn Bitcoin or make money with cryptocurrencies. In the end, each method has its pros and cons; some are more risky, while others take a greater amount of effort.

In order to make it easier for you to review what I’ve just covered, I created a table that illustrates the different methods.

Ways to Make money with Bitcoin

As you can see – there’s no easy, risk-free way to make money with Bitcoin. The good news is that it is possible, and if you put some effort into it, you can find a lot of creative ways to create new income streams.

You may still have some questions. If so, just leave them in the comment section below. And if you’ve tried out one of the methods above and want to share your experience with it, I’d love to hear it as well.

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including investments in gold and, since early 2013, Bitcoin. While not extensively tech-savvy, I've immersed myself in Bitcoin through dedicated study, persistent questioning, hands-on experience with ecommerce and marketing ventures, and my stint as a journalist. Writing has always been a passion of mine, and presently, I'm focused on crafting informative guides to shed light on the myriad advantages of Bitcoin, aiming to empower others to navigate the dynamic realm of digital currencies.

View all Posts by Alexander Reed

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277 comments on “Earn Bitcoins”

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  1. Good read, but I’m still not sure about what I’m in is a scam. Scary not knowing. More scary to find out that it is a scam.

  2. I thought the coin terms were difficult, but since you explained it easily and broadly and posted it on the video, I’m getting to know them one by one
    I’ll have to prepare in accordance with the rapidly changing world.
    Thank you for your hard work.

  3. Robert John Montague

    An excellent straight to the point explanation on all you need to know about crypto currency and the risks involved. There’s no magical formula other than doing your own studying. Crypto is a good way of having control of your own wealth whereas with the present banking system you lose that control and not forgetting no interference from the government.

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