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For some strange reason, people tend to think that because Bitcoin is a new form of currency, there's some magic way you can earn Bitcoins or earn money from it readily. Im sorry to burst the bubble, but Bitcoin is exactly like any other currency out there.
While cryptocurrencies in general might hold a few new possibilities for generating income that the basics are the same youll need to invest time, or money in order to generate money.
All of the approaches Ill go over are things weve actually tested ourselves here at 99Bitcoins, which means you can rest assured were talking from experience. Lets get started
One of the cheapest, easiest but most time consuming ways to really earn Bitcoin is through micro earnings. This means that youll basically be doing small tasks and earning fractions of a coin for your time you spend.
A number of the well-known micro earnings websites are Bitcoin faucets sites that you repeatedly go to every few minutes in order to claim a tiny amount of coins. Faucets are actually a subcategory of all PTC websites, PTC meaning Pay to Click. PTC sites will often have you click on an advertisement or on a button on the site in order to make money from ad sales.
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From our calculations, if you work non stop at clicking buttons youll average anywhere between 5-40 cents an hour. Not sure thats worth your time or even the electricity for running your computer.
While participating as a tap user may not earn you a lot of money, owning your own faucet is a whole different story. Today, you can construct a cryptocurrency faucet relatively easily and earn money from selling ads on your site.
At 99Bitcoins we've been running our own faucet for just about 3 years now. Depending on the advertisers youre using and the amount of traffic that you have you can make around $1000/month running a faucet.
But, running a faucet takes a reasonable amount of time and energy. Youll need to set up your own site, manage customers, prevent fraud and bring some initial capital to fund the faucet when starting out. Heres our beginners guide to running a faucet.
Somewhere around mid-2014, BitcoinTalk, a leading Bitcoin forum, Â started running signature campaigns. In other words, you can use your BitcoinTalk signature to advertise a product and get paid for every post you write. The whole collection of campaigns can be seen on the discussion .
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With a signature campaign You get paid according to your membership degree on BitcoinTalk. Usually, anyone with a standing less than complete member wont get paid that much, in the end. To be have a peek at this site a full member, youll need at least 120 posts under your belt. There are also limitations on articles; for example length, original content, and more. .
From time to time, theres also a minimum post requirement each week. From our experience you can make up to $5 an hour depending no how much you write and your membership level. This, clearly, does not include the number of posts you need to write in order to earn the mandatory membership amount on BitcoinTalk. .
One of the quickest, easiest but riskiest ways that you can make money with Bitcoin is by trading it on an exchange. Fundamentally youre trying to buy Bitcoin when its cost is reduced and sell it when the cost increases.
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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 the way to overcome the many risks involved with trading. Successful traders know they might lose money in the brief term but they look at it as an investment in their own education, since they're aiming for the long term. .
If you want to be a dealer make sure you've got sufficient time and funds to invest in great trading education.
One of the most overlooked methods to make money with Bitcoin is by promoting through various affiliate programs. Affiliates are individuals who market a certain business free of charge but get a commission if they manage to bring in paying customers.
Many Bitcoin exchanges, products and services have an affiliate program in which you can enroll. You then get your own unique affiliate link in order to promote that service or product.
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Of course there are many ways you can market your affiliate link you can discuss it on Facebook, run advertising campaigns on different sites or even create your own information website and boost your links within your content.