To most of you, buying Bitcoin in large amounts is not viable as an investment strategy. However, the good news is, there are more alternatives for you to earn Bitcoin. Some of these alternatives are new in the crypto space. And some sometimes you don’t have to do anything to start earning.
Earning Via Crypto Interest Accounts
The same way people stored their money in bank accounts and earned interest (they still do) is the same way crypto accounts earn interest. This is a new and exciting model in the Blockchain industry and can be done in various ways. Some refer to this method as simply lending out your Bitcoin to a financial service provider with an end result of interest on your Bitcoin over a specified period.
Now, there are several companies offering you the ability to earn interest on your crypto. The structure requires you to send your digital currency to the wallet service provider and within a specified time, your crypto earns interest. It all depends on the interest rate at the period which you are lending out.
By Way Of Affiliate Marketing
It’s popular among bloggers, news site, content producers and social media influencers. Unique URLs are given out by companies for affiliate marketers for their audiences. For every buy using the specific link, the marketer is rewarded.
The affiliate programs work differently depending on the company. Some offer a percentage of the total order amount while others give you a free set for every customer who signs up for the service.
Quick examples; Coinbase offers $10 for every customer referral who signs up and deposits $100. Binance, on the other hand, offers 40% of the transaction fee.
Get Cash Back
Ebates is a google chrome extension. It offers customers cash back for purchases from thousands of websites. All you have to do is install the extension and create an account. eBates notifies you whenever there are discounts while you visit the retailer’s site. By a click, you activate these discounts. At the end of each quarter, you get a cheque from eBates.
In crypto, Lolli offers similar services. When you purchase on sites like Macys, Sephora, and CVS, you get a cashback cheque in Bitcoin with each store offering different incentive amounts.
Earn By Trading Or Mining
Trading may be the easiest way to earn Bitcoin for some people. However, there are various trading strategies and traders have their preferred way of increasing their crypto assets. One common way is to leverage trading. Traders borrow funds to boost their trading activities. These borrowed funds are known as crypto backed loans.
Crypto backed loans are more like collateralized loans and borrower gives lender collateral for him to access more funds.
Mining is another way of earning Bitcoin. Now for every block created on the Blockchain, there is a complex cryptographic algorithm that needs to be solved. Miners use their computing power to solve these calculations for transactions to be added to the block. They are rewarded in terms of Bitcoin.