5 Practical Ways to Make Money with Bitcoin in 2020

Contrary to people’s knowledge, getting bitcoin is easy, there are a number of ways to earn bitcoin online- some more popular than the others. There are methods that involve a minimal effort with the minimal return and others more lucrative that requires you to have better expertise in the industry.

Below are some of the most famous ways to make money with bitcoin.

1. Mining bitcoin

No, you don’t have to raise the ground to get bitcoin. Not in that sense anyway.

So, why do you call it mining? Similar to gold miners, bitcoin miners have to bring out the gold, in this case, bitcoin into the surface.

Did you dare to ask how? While paper money has a government, who prints and distributes it, Bitcoin has miners who use special software to solve math problems and are issued with bitcoin in exchange. This system is what makes the Bitcoin network go round.

Mining Bitcoin used to be relatively simple, and the earliest miners were able to mine thousands of Bitcoin using their home computers. However, in today’s very competitive and volatile market, miners buy expensive computer parts, that the high street customer has little access to,  required for more processing power in order to mine more difficult algorithms. Since this is a race that can solve blocks faster, miners team up in what we call mining pools where they combine their processing power in order to solve each transaction first. The reward mostly comes from several miners’ fees, is it up by members of the pool.

                

Remember that bitcoin mining is not as profitable as it used to and many are claiming it to be the end of profitable mining.

The future of mining in 2019 will depend on the price of Bitcoin. If the price goes up, mining will continue to evolve and the number of miners will increase. If the price goes down, miners will gradually disappear.

an excerpt from 2miners’ blog
It presents new miners with new challenges and also unique opportunities to come into the market when everyone else is leaving and then the price of bitcoin will go up.  It all depends on your ability to analyze the market and correctly predict future changes.
                

2. Bitcoin Faucets

If you don’t mind looking at a few ads and answering surveys, you can visit a bitcoin faucet website. Generally, these websites generate revenue from advertisements placed on their pages. Those who visit their site and answer short questions or captchas will be paid from the small portion of their revenue. You can readily check one of the most popular faucet sites here: earn.com.

                

3. Pay To Click (PTC) Websites

There are several websites that will pay you in bitcoin if you watch an ad or click to a certain page containing ads. If you are ad immune and want to make quick crypto buck–this can be a good idea. Bear in mind, to make any significant money is still very hard work and a rather tedious task.  BTC4ADS pays around 100 satoshis (0.00000100 ฿) and Coinadder pays around 25 satoshis per click.

4. Doing Micro Jobs

Much like Microworkers and Cloudfactory, which pay you a small fee to complete very simple tasks like watching a YouTube video or completing someone’s survey, there are several micro working sites that will pay you in bitcoin. Bitcoinget is the major player in this market which will pay you around 20,000 satoshis per task while there are several others like Cointasker that will pay you a slightly lower sum.

                

5. Writing about bitcoin

Cryptocurrency, in general, is a new niche and there is a scarcity of writers who genuinely know this niche. This means the market is flooded with newbie copywriters who simply rehash the content that contributes to the deterioration of quality. However, if you really know this niche and you have decent writing skills, you can actually make money.

CCN, Blockchain Aliens are among several websites that pay you for writing about bitcoin. You can also find a lot of related jobs freelance websites like Upwork and freelancer.com