Mining is not the only way to earn Bitcoin. There are many other tools on the Net that allow you to receive the virtual currency. Here's what they are
Recently, Bitcoins, or cryptocurrency, have reached their all-time high value. This has awakened the interest of media and users about it. There are many people interested in earning through the virtual currency. So here are 10 ways to take advantage of Bitcoins and get rich.
If we want to start earning with Bitcoins there is a fundamental step to take, which is to open a virtual wallet for Bitcoin. This way we can start receiving and spending the virtual currency. You can get a virtual wallet on several online services. Beware many are not reliable and only try to scam users. Among the most famous and accredited are Coinbase or Blockchain.info. Once you have a wallet, you can establish multiple bitcoin addresses, which allow you to receive from others. These are virtual and not real addresses.
Bitcoins as well as purchased can also be generated. The operation is called mining. The process involves the use of sophisticated machines that are expensive and consume a lot of electricity to solve mathematical algorithms in exchange for Bitcoin. It is not a solution for inexperienced users. In recent years due to the difficulty of the process it is no longer considered a profitable system. Or rather, not if done at home. It would be better to be part of a group that deals with "mining" virtual currency. The most famous groups on the Net for extraction are: Antpool, BTCC and SlushPool.
Making cloud mining
Bitcoin mining can also be done in the cloud. That is, using a remote data center that has shared processing power. This system lately is considered more advantageous because it does not force users to use powerful hardware solutions to mine Bitcoin. However, it must be said that the absence of power consumption and sophisticated machines and algorithms comes at a cost. And in fact, the cloud mining service is only available for a fee, often with monthly or annual subscriptions. The most famous company in this field is Genesis Mining.
Bitcoin for ads
Some Internet sites pay users in Bitcoin if they watch advertisements. Obviously we will have to register with the site to start earning virtual coins in this way. Beware though this is a very, very slow method of getting Bitcoins. The most famous sites in this regard are Luna Bitcoin, Bitcoin Aliens and BTCclicks.
There are also some sites that in exchange for small actions to be done on the Net offer us the virtual currency. Usually they are surveys, display of ads, testing of applications in beta phase. The most famous sites in this field are Bituro, Coinbucks and Bitcoin reward.
As it happens in the market and with the "classic" money on the Net you can also trade with Bitcoins. It is quite clear the concept, you buy a lot of Bitcoins when they are worth less and then you wait for the cryptocurrency to rise in value to sell it again.
The world of Bitcoins is quite democratic, it offers different possibilities to everyone. By signing up on Localbitcoins.com you can become a Bitcoin "Market maker". That is, we will manage a process of buying and selling virtual currency on the Net. After registration we will have to insert ads to start negotiations, prices and times. In practice, in this way we will sell Bitcoins to people who in return will pay us with "real" money. Be warned, this is a site that leaves no room for scams. Buyers and sellers are evaluated by a feedback system and any suspicious movement is blocked.
Gambling also exists in the world of Bitcoin. Therefore, there is an online possibility to bet to win virtual coins. Usually you play roulette, poker, dice and with slot machines. The most famous sites in this field are Starcoin, Crypto Games, BetKing and vDice.
To earn we can also use Bitcoins to lend them to entrepreneurs and SMEs using the peer-to-peer Bitcoin lending platform called Bitbond. This is currently one of the most widely used and profitable methods. Startups and SMEs can borrow the virtual currency without the use of a traditional financial intermediary, avoiding the problems associated with "classic" loans.
Selling goods in exchange for Bitcoin
On the Net there are people selling clothes, old gadgets, cars and even houses in exchange for Bitcoin. What seems to be an extravagant method, is actually one of the most widely used systems in recent years. It allows those who do not have much time to earn Bitcoin in other ways to start with a good amount on their virtual wallet. The most widely used sites for these exchanges are Bitify and Purse.