Nowadays, Bitcoin isn’t a hard investment to get into with an abundance of exchanges, ATMs, local cash dealers and online merchants making it available. Just paying cash kind of goes against the anti-establishment and alternative living spirit behind the Bitcoin movement, so some people may opt to earn Bitcoin outside of financial institutions.
Easy: Hit up faucets
While it is quite underwhelming, getting free Satoshis from online faucets is a great way for beginners to get started with Bitcoin. The amount you get will be far beyond the minimum wage of even developing countries, but it is a no-skill method of building up your stash that might be worth a fortune in the long-term.
Just hitting up one faucet isn’t enough, and you may find faucet enthusiast going to hundreds of them per week. The idea is to save the best paying ones first and making sure you enter into any secondary giveaways that will bolster your earnings.
As a word of caution, some faucets pay abysmally and may even be stingy with paying out to visitors. You should check out a curated list of high-paying bitcoin faucets to make sure you are not getting the short end of the deal.
Medium: Get a Bitcoin Job
If you look hard enough, you can land freelance gigs or even proper employment that will pay in Bitcoin for your services. Craigslist, one of the biggest job searching platforms, has made it even easier to make and search for listings that favor bitcoin.
You may also put yourself out there on various Bitcoin-related Reddit communities, Bitcoin forums, and even Discord servers to find like-minded people that want you on their team. Finding a job is just part of the battle as you need to learn marketable skills, put together portfolios and learn interpersonal skills to land jobs/gigs.
Hard: Day Trading
You have probably heard of people day trading on the stock market, making more steady gains as if it were their full-time jobs. This same concept exists in the cryptocurrency market, and with such wild margins, it is easy to make a quick buck in this market.
The nuances of trading in cryptocurrency are much more difficult, although the barrier for entry is much easier than traditional financial markets. It is highly recommended to sign up for multiple exchanges as you may find most of your profit doing arbitrage with different currencies as not all exchanges consolidate with the going price.
Some people have also invested time or resources into creating trading bots to have their money work for them without keeping a close eye on the market. The idea is to have the bot wait for signals to buy or sell, making the likelihood of profiting between margins high without the need for human input. You may lease these bots if you have a decent amount of starting cash and are willing to take the risk.
Final Thoughts
At the end of the day, you are probably better off working a job and spending your spare cash on Bitcoin rather than trying to generate it online. Until the world adopts Bitcoin as a major, defacto currency, your options are still limited when it comes to earning Bitcoin. That doesn’t mean you shouldn’t give it a try for the sake of experimentation.
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