Bitcoin has recently hit new highs, nearing $20,000 USD. With these soaring heights, I often find people asking how they can get in on the action and earn some money.
I've owned Bitcoin for several years now. My total profits currently sit around the $15,0000 mark - and grow a little bit more every day. No, I'm not a Bitcoin millionaire or anything. But $15,000 is still a welcome addition to my net worth. The majority of those gains have simply come from speculative holding - the price of Bitcoin (and other cryptocurrencies) going up. However, I have found some other ways that continue to make me some pretty steady returns.
Making Bitcoin Passively
Nearly all of my non-speculative profits have come from one website: FreeBitcoin. There are few good ways to earn Bitcoin on the website, which I'll go over quickly here.
The best way (and most profitable for me) is to earn daily interest. This website pays you interest on your Bitcoin every single day that amounts to 4.08% annually (which does not include the compounding associated with daily payments). If you have the Bitcoin anyways, why not let that Bitcoin earn you even more Bitcoin?
To earn interest, literally all you have to do is have Bitcoin on their site. That's it. Just let it sit there and make money for you. Ideally, you can either buy Bitcoin or place whatever Bitcoin you already own there and simply let it earn you risk free returns. But what if you don't have the Bitcoin to earn interest on and you aren't willing to buy any? Well, we'll get to that.
Just a little motivation for you guys ;)
The second way you can make a little bit of Bitcoin there is the free faucet on the front page. The bottom (and most common payout) is a mere 11 satoshi as of right now (it fluctuates with the price of Bitcoin). However, the top payout is a little over 0.01 BTC (which is tied to $200 USD). I've gotten lucky a couple times on it and gotten some decent payouts from the faucet. The faucet isn't going to earn you a ton - but it's a good way of getting started risk-free.
Next way you can earn some is through Bitcoin mining - which can also be done on their website. Again, it isn't going to get you a fortune but leave your computer running for a while and i can definitely add up. Then, the Bitcoin is automatically credited to your account, where it then earns free interest to make even more Bitcoin.
Other Ways To Earn Bitcoin
Of course, my other favorite way to make Bitcoin is Steemit (I know, kind of a cop-out considering you're already here). I've earned around $250 on Steemit so far. Half of that stays on here, in the form of Steem. The other half gets converted into Bitcoin and sent to FreeBitcoin in order to earn interest.
Over time, using all of these methods, I've earned $15,000 USD of pure profit in Bitcoin. The best part is my returns are still adding up every single day, and will continue to grow from here. I'm not quite a Bitcoin millionaire yet, but hopefully I'll be there some day.
If you guys have any questions or anything, feel free to let me know below!!