Bitcoin and cryptocurrency is undoubtedly a revolution. This technology can fundamentally disrupt industries core to our economy. Implementation of decentralized, transparent, secure systems can vanquish issues relating to trust, transparency, and human error in an organization or in any governing body.
If you want to partake in this revolution of revolutionizing the world with blockchain and cryptocurrency, you can start simply by earning some cryptocurrency.
In this day and age, there are so many ways to earn Bitcoin and cryptocurrency. But, in this article, we will focus on the fastest ways to earn Bitcoin:
1) Buy Bitcoin/Cryptocurrency
Without a doubt, the fastest way to earn Bitcoin is to buy some. Although by buying Bitcoin, you are not necessarily earning an income. You are simply exchanging fiat to Bitcoin. If the price of Bitcoin appreciates in the future, you can actually earn some money.
There are so many services available today that enables anyone to buy Bitcoin and cryptocurrency online. Some of the best services are Binance and CEX. They accept credit/debit cards so the process of buying bitcoin and cryptocurrency is even faster. Binance does also accepts bank transfers but it is slow compared to credit/debit cards. It is important to mention that the majority of services that allow you to buy cryptocurrency online requires identity verification. So, buying bitcoin/cryptocurrency is never anonymous. Although, there are few ways to buy Bitcoin anonymously. You can learn about them here.
If you really want to make a profit with Bitcoin/cryptocurrency, you need to sell them once the price appreciates. Until you cash out your coins to fiat, you don’t really make any money. Don’t be greedy and anticipate that the price will increase further. If you want to learn the best ways to cash out bitcoin, check here.
2) Mining Bitcoin/Cryptocurrency
Mining Bitcoin/cryptocurrency is not the fastest way to earn, but it is still a viable way of earning bitcoin/cryptocurrency. One advantage of mining compared to buying is that you can make a positive ROI from the get-go.
To mine profitably, you need to have the right hardware, located in an area where electricity cost is low and mine the most profitable coin. If you do not already have the hardware but plan on buying one just to mine bitcoin/cryptocurrency, please remember to use a mining calculator to estimate the profitability. As a miner, your goal must be to recoup the amount of money spent on mining equipment as fast as possible. This usually takes a little over 1 year; that is if the price of cryptocurrency stayed constant. Depending on the price movement, you will break-even faster or slower. Some miners mine for the long term, some miners mine for the short term. Short term miners always mine the most profitable coin. You can check out this article to learn how to mine the most profitable coin.
3) Trading Bitcoin/Cryptocurrency
Bitcoin/cryptocurrency is highly volatile. It is this volatility that makes it extremely profitable. If you know when to buy and sell, you can make a significant amount of money. Cryptocurrency exchanges also offer margin trading and futures trading opportunities. If you are a beginner to trading, I suggest you learn about trading using virtual trading first, learn how to use trading tools, develop a trading strategy that works, before you start trading with actual cryptocurrency.
If you are an experienced trader, you can margin trade or buy/sell futures contracts to earn a significant amount of money quickly. Although, the risk of losing money is also high here.
If you are considering trading, I suggest you do your own technical and fundamental analysis, not to buy into the hype, and don’t risk money you can’t afford to lose.
If you are wondering which cryptocurrency exchange is best for trading, I suggest you use Binance. This exchange has a nice UI and it is very easy to use for both beginners and advanced traders.
4) Bitcoin/Cryptocurrency Gambling Sites
With the ease of use of cryptocurrency, fast transaction times, cryptocurrency has given rise to numerous gambling sites. Just like trading, you can earn a significant amount of cryptocurrency quite fast. It is important to understand that this method of earning is extremely risky. You can win big or lose big. If you opt into gambling as a way of earning Bitcoin/cryptocurrency fast, it is crucial that you learn how to manage your risk. Gambling is illegal in some countries and some of the countries have already banned online gambling sites. Please check your countries law before you gamble.
Saying all that, gambling is still a fast way of earning bitcoin/cryptocurrency. These gambling sites offer a myriad of ways to gamble with your crypto. From sports betting to casinos to poker to betting on prices to so many other ways. Here are some of the best gambling sites that accept Bitcoin/cryptocurrency:
5) Selling Goods & Services for Bitcoin/cryptocurrency
Cryptogrind is a service that pays freelancers with cryptocurrency. If you have the skills and experience in any field, you can list your services here. Cryptogrind is a service where buyers of services meet sellers of services. You have the option of receiving payments in cryptocurrency.
Alternatively, if you already have a website that sells some sort of product, you can add bitcoin/cryptocurrency as a payment method. You do not necessarily have to sell something for bitcoin to earn bitcoin. If your website gets a decent amount of traffic, you can join an advertisement network like A-Ads and place advertisements on your website. A-Ads pays for ad impressions and clicks in Bitcoin.
Another way to earn Bitcoin is to promote cryptocurrency services on your website. There are so many services that pay you in bitcoin when you bring them a customer. The customer has to join their service using your affiliate/referral link. If you do not have a website, you can still promote these services on your social media.
Check out here to find the best affiliate/referral programs.
6) Investing in ICOs
Initial coin offerings (ICOs) are a way cryptocurrency projects raise funds to create a new cryptocurrency, app, or service. Interested investors can participate in the ICO by buying into their offerings. In return, investors will receive tokens issued by the company.
Once the cryptocurrency project is ready and hits the market, the value of the token will appreciate. You can then sell those tokens for profit. If you are confident that this token will appreciate even more, you can hold it for a bit longer and sell.
Please be aware of fraudulent ICOs. The majority of ICOs are scams. They take your money and run away. The majority of ICOs are unregulated. Some counties have already banned ICOs because of its risky nature.
If you put your time and effort to research these ICOs, you can find real projects. Investing in really good projects have the potential to earn some serious money. You can find some of the best ICOs here.
The fastest way to earn Bitcoin/cryptocurrency always requires some sort of investment from your end; be it money, time or experience. Above mentioned methods are some of the fastest ways to earn Bitcoin/cryptocurrency. It is very important that you understand that the fastest does not mean the safest. Some of the earning methods included in this list are fast but extremely risky.