If you are new to cryptocurrency, you are probably eager to find out more about popular cryptos such as Bitcoin, Ethereum, Dogecoin, USDC, and others. You are probably eager to make your first profit by trading, mine crypto, and make more coins through other proven earning options.
Today, we will focus on the options crypto enthusiasts have to make free Bitcoin. However, it is not like collecting free gifts because some of them require you to invest and dedicate your time. Your input will determine how much you will get. We can consider these as the best ways to earn Bitcoin.
Trading Bitcoin
Do you prefer to buy and sell Bitcoin on a regular basis? This can give you high profits, especially if you have the right skills and tools to trade. Trading is buying BTC at a lower price and selling the coins later at a higher price.
It is a complicated process requiring careful consideration. For instance, you can Buy Bitcoin in one exchange, hold the coins on another as you wait, and eventually sell on another. Others prefer to do everything on one platform by using live monitoring charts to know the right time to trade. If you are up to the task, check a Bitcoin trading site that works for you and start trading today.
Mining Bitcoin
Mining is the most popular way of earning free Bitcoin since its inception in 2009. But to mine BTC, you need to have technical skills and the right software and hardware since it involves solving complicated transaction codes and algorithms, creating new blocks, and approving transactions, among others.
Miners who have invested in the right tools can earn handsomely and it is possible to use these coins to make other investments. If you cannot acquire these tools and are still interested in becoming a miner, try the mining pools, where you can join many others on online platforms to mine BTC.
Save Bitcoin to Earn Interest
If you are not ready to trade or spend your Bitcoin now, you can opt to save it with a crypto saving platform instead of leaving it in the Bitcoin wallet. Saving through a reputable platform has benefits for many parties.
You as the investor earn up to 12% APY interest, while others can borrow crypto, and the platform makes money. In brief, here are the most popular crypto saving platforms you can try:
- YouHodler – Your Bitcoin will earn you 4.8% APY interest on YouHodler and the free Bitcoin will be sent to your account on a weekly basis. Since it is a compounded interest, it will start to accumulate on a daily basis.
- Hodlnaut – If YouHodler does not entice you enough, Hodlnaut is an alternative that you can try. Saving BTC for a period of one month will give you a 7.2% APY payable to your account. Just like other platforms, investors have to create an account to save.
- BlockFi – This platform gives 4.5% APY on BTC, but this could go higher on other coins, especially stablecoins. If you want to get BTC interest on BlockFi, just sign up, deposit the coin into your wallet, and start earning compounded interest.
- Binance – Although Binance gives a low interest of 0.5% APY on Bitcoin, it is an excellent platform to hold your coins. Most people trust Binance because it is dynamic, which means that it has many other services and is secure at the same time.
Bitcoin Airdropping
Developers of various cryptocurrencies introduce airdropping to increase the popularity of their products. If you are interested in Bitcoin airdrops, you have to meet some conditions on various platforms. Some amount of coin is sent to your wallet when you qualify for the project.
Check the original Bitcoin website or others that the crypto has partnered with to participate. If you are required to perform some tasks, take your time to do them perfectly.
Although it is an enticing way to get free Bitcoin, experts advise that it holds more risk for the investors because of the numerous fake airdrops by hackers. So, those interested are advised to practice caution when engaging in airdrop projects.
Participate in Bitcoin Yield Farming
Do you want to make money by lending Bitcoin? Yield farming is the right answer for you. The concept is almost similar to holding, but this is more like participating in the creation of liquidity pools for smart projects or lending the crypto to other users.
So, how do you earn free Bitcoin with this option? When the platform makes money from the smart contracts and lending interests, they give you a share of that amount. You may want to consider making money with this option because it is also passive, just like holding.
Try the Sign-up Bonuses
Are you still looking for where to earn Bitcoin? Try the sign-up bonuses. They are available on many platforms and they give Bitcoin bonuses worth a good amount of USD. It may not be a lot, but the free Bitcoin will motivate you to stay on the platform and try other earning options such as trading, saving to earn interest, and others.
Some Bitcoin websites have different sign-up benefits and it is upon you to choose one that works for you. Consider how it will affect your other projects before you take up a sign-up bonus.
Work for Bitcoin
There are many free BTC earning sites these days. You have to participate in various micro tasks to get paid in BTC. If it is possible, choose one with tasks that you can handle. The most common tasks include watching videos and advertisements, completing surveys, and capturing.
If you want more complex tasks that earn more BTC, try writing for crypto websites and blogs. If you are lucky enough to get a good flow of projects, you can earn a lot of money every month.
Conclusion
If you have been wondering where to earn Bitcoin, you now have credible options that are easy to try whether you are new to crypto or not. Because it is an evolving sector, other options keep on coming up. So, keep on checking to ensure that you have as many options as possible. But the most important thing is to use them and free Bitcoin. All the best!
