The price of Bitcoin now stands under $10,000 and the price scares of two years ago a thing of the past. That’s why Bitcoin remains one of the most lucrative asset classes for
many investors.
Even for the traditional conservative investors, Bitcoin is rising in prominence as an investable asset. We’re increasingly seeing more institutional investors joining the crypto fray.
There are still plenty of ways to earn Bitcoin without blowing your savings or investing in an increasingly less rewarding mining rig -- although that’s still an option.
Here’s a look at some of the proven ways to earn Bitcoin in 2020.
1. Bitcoin Mining
Bitcoin mining is the process through which new Bitcoins are generated and added to the blockchain network. It’s also a process through which transactions are validated.
Bitcoin mining involves the use of specialized hardware to solve complex mathematical computational problems via a “proof of work” mechanism. That ensures the security and integrity of every transaction on the network.
Let’s make no bones about it -- the mining difficulty has increased in 2020.
It now requires ever more powerful ASIC mining rigs and more time. They are very costly, and prices can be as high as $25,000. It’s also approaching very little ROI, especially with the halving coming up in May this year.
But it’s not all bad news.
The advantage of Bitcoin mining is that it’s a passive income activity. Once you have the hardware set up, you simply set and forget. The investment might also be worth it with Bitcoin price entering a bull market phase.
What’s more, you don’t have to buy the costly Bitcoin mining rig and spend money on the high-power costs. You can simply join a Bitcoin mining cloud where you pay a fee to access the processing power of a remote datacenter. It works pretty much like cloud hosting.
2. Work for Bitcoin
This is perhaps the easiest and simplest way to earn Bitcoin. The gig economy is expanding rapidly and many employers are now open to paying employee salaries in Bitcoin.
If you have a skill to sell, such as content writing, web design, app development, transcription, translation or internet marketing, you can find employers willing to pay you in Bitcoin.
Some of the freelancing platforms that offer Bitcoin payments include:
3. Complete Micro Tasks for Bitcoin
Microtasks or micro-jobs are small and manageable tasks that almost anyone can do for a small fee. The pay isn’t much but it can add up to a decent amount if you can put in the hours.
Most people are familiar with conventional microtasks platforms like Amazon’s Mechanical Turk (MTurk) but there are other platforms that pay via Bitcoin.
The secret sauce to making money from microtasks is quantity.
You maximize your earnings by taking on a lot of microtasks. Ever heard of the adage “quantity has its unique quality”? That has never been truer than when it comes to earning Bitcoin with
microtasks.
That said, microtasks are best suited for people with a lot of spare time.
Typical micro-tasks include:
- Completing online surveys
- Watching videos
- Testing new apps
- Verifying address data
- Creating standard text distributions
4. Make Bitcoin with Cashback
You can get a cashback from online stores when you make purchases with a credit card or debit card. These cash-backs can add up to quite a good amount if you’re a regular customer.
With the emergence of cryptocurrency, some websites are now offering Bitcoin cashback.
It’s perhaps one of the ways to earn Bitcoins. You don’t have to do much -- just do your regular shopping around with your Bitcoin cashback app or card.
a. Bitcoin Debit Cards
You can order a Bitcoin debit card that offers cashback in the form of Bitcoin. Some of the top Bitcoin debit cards that you can use this year include:
- BitPay
- Bitwala (for the European market)
- Crypto.com (or MCO card)
- Wirex
Some Bitcoin cashback programs are linked to merchants that earn a commission from referrals. The commission is split between the affiliate marketer (who could be you) and the
affiliate Bitcoin cashback program.
b. Cashback Apps
Maybe you’re not comfortable with Bitcoin debit cards? No problem. There are a number of apps that’ll earn you Bitcoin cashback when you shop online.
Here are some of them to get you started:
- Lolli - Lolli is a highly popular crypto cashback program that supports some of the top online retailers including Groupon, Macy’s, GoDaddy, Hilton, Sephora, Harry’s and 500
other top retail brands. - Foldapp - with Foldapp, you can get gift cards as well as generous cashback on your purchases. The cashback rewards range from 2-10%. Foldapp supports several gift cards including Amazon, Airbnb, Hotels.com, Uber, Target, Home Depot and Macy’s.
- Bitcoin Rewards - This app works just like Lolli and supports multiple US and global stores. Just find the store that you want to shop in and the app will add cashback to your Bitcoin wallet.
5. Affiliate Programs
Affiliate programs are as old as e-commerce itself. With the emergence of cryptocurrencies, there are now affiliate programs that pay in Bitcoin rather than fiat money.
Do you run a popular blog? Then link up with some affiliate programs and earn a commission in Bitcoin for every sale or lead that comes from your site.
Some of the top Bitcoin affiliate programs include:
- Binance Affiliate Program
- Coinbase Affiliate Program
- Changelly Affiliate Program
- Local Bitcoins Affiliate Program
- Paxful Affiliate Program
6. Monetize Your Website Content with Bitcoin-Based Ads
Ever heard of Google AdSense? It’s a publisher network that rewards website owners for clicks and views on ads embedded on their websites.
There are crypto versions of AdSense such as BitMedia where publishers get paid for the click-through actions on BitMedia ads posted on their websites.
That’s a stress-free way to passively accumulate Bitcoins if you have a high-traffic website.
Here are some other Bitcoin ad networks you can use:
7. Trade on Bitcoin Exchanges
There are a lot of Bitcoin exchanges in the world. Some have made a name for themselves while others have become notorious for their lack of security. It’s both an art and a science to trade Bitcoin for profit -- just like trading anything else.
Here are some of the most popular Bitcoin exchanges:
One of the newest and most high-tech Bitcoin exchanges is NordikCoin. It’s based in Europe, and draws on the latest developments in cryptocurrency security and convenience.
The people behind this new European exchange are a team of lawyers, accountants, and technologists that have been part of the Bitcoin industry for a long time.
Thousands of users have already signed up -- and it’s easy to see why.
NordikCoin offers one of the fastest ways to buy Bitcoin. You can create an account in two minutes and have Bitcoin in your wallet as fast as you can click “Buy Now,”
It also focuses on mass adoption, which is why the exchange has enabled Visa and MasterCard payment options -- so even new beginners can join in.
The best part is perhaps the security aspect.
Many newcomers to the Bitcoin market are wary of exchanges. They’ve heard the stories of hackers and are afraid it’ll happen to them.
That’s why NordikCoin puts such a strong emphasis on safety. All users have to verify their identity with government-issued electronic identification like BankID. Every user’s Bitcoins are also kept safe in a cold storage facility, which means it’s not online. Finally, it requires multiple signatures to access, which also makes it extremely difficult for hackers to breach.
If you’re looking for a quick and easy way to trade Bitcoin, then open an account today and see for yourself -- you won’t be disappointed.
Ready to Earn Some Bitcoin?
As you can see, there are as many ways to earn Bitcoin in 2020 as there was to skin a cat… back when people did that kind of thing.
The Bitcoin ecosystem has grown exponentially over the past few years. There are now countless ways to earn Bitcoins if you’re willing to put in a little work and use your imagination.
With the Bitcoin price beginning another aggressive bull run, there could never be a better time to lay your hands on some cryptos for a rainy day.
DISCLAIMER: Cointelligence has been compensated by Omega Media AS on behalf of OmniMatrix OÜ, owner of NordikCoin.com for publishing this article. A one-time payment of $400USD was made on March 24 2020. Additional fees may have accrued since then.