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Eight Simple Ways to Earn Bitcoin Online Legally

The popularity of Bitcoins is increasing fast. Everyone wants to have some Bitcoins; luckily, you have simple ways to earn Bitcoin online.   

Bitcoin, a cryptocurrency, emerged in 2008. The decentralized digital currency, having no single administrator or central bank, can be sent from one user to other user on peer to peer Bitcoin network without any involvement of intermediaries. It was introduced with an objective to put the sellers in charge eliminating the middlemen and interest fees as well as to make the transactions transparent. It helped to cut numerous fees. The introducers created a decentralized system allowing the users to control their funds with complete knowledge. In a relatively short time, the popularity of Bitcoin increased much as most of leading brand accepted it as the way of funds transactions. It has own price index, exchange rate and application programming interface (API).

Understanding Bitcoin:

Bitcoins are not like the rupees or coins in your wallet. These are the line of numbered “code” created to be used as instructions in computer programming. These can be exchanged for selling services or products like the normal money. The currency uses a “cryptographic proof” allowing any two willing peers to transact the funds with each other without trusting a third party like bank. The bank-free Bitcoin currency uses cryptographically secured “blockchain” to record all the payment transactions.

The Transactional properties of Bitcoin:

  • Irreversible: The transaction can not be reversed after confirmation. If you transfer money, you will send it permanently; no one can reverse the transaction even if you sent the money by mistake to a scammer hacker.
  • Fast and global: Transaction is confirmed almost instantly. Since the transactions occur in global networking of computers, these are completely unrelated to user’s physical location. It hardly matters where you send Bitcoin money all across the world.
  • Make believe Pseudonymous nature: Neither the transactions nor the accounts have real-world identities. You receive Bitcoins at so-called address, which is a random chain of about 30 characters. Although it is possible to analyze the transactions but the users can’t connect with real world identity with mentioned addresses.
  • Secure: Bitcoin transactions take place over cryptographic system; therefore, only the owner of personal key can make transactions. Time tested strong cryptography makes it almost impossible to decode the keys.
  • Free for everyone: You do not need permission to use crypto-currency. It is just an open source software that can be downloaded for free. Once you get it installed, you can send and receive Bitcoins without any limitation.

Eight Simple Ways to Earn Bitcoin Online:

  1. Gift card exchanges: Do you have a lot of gift cards of no use? Why don’t you exchange those gift cards for Bitcoin? The websites like cardforcoin.com and raise.com that allow selling gift cards. There are many others. Some of these websites have geographical boundaries to work. Just find out a website working in your country. You need to find a trustworthy Bitcoin trader. Generally, 80% of gift cards value is offered; however, it may be more up to 85% – 90% depending upon the trader.  
  2. Own a faucet: A bitcoin faucet is a featured website that drips bitcoins steadily. You can create a cryptocurrency faucet to earn money for selling ads on the website. Depending on the type of advertisers, numbers of advertisements and traffic volume, you can earn good Bitcoin money by running your own faucet.
  3. Bitcoin games: Games award miniscule amount of Bitcoins as the prize. These are filled with numerous advertisements of Bitcoin faucets also. Some faucets reward for visiting the site and commenting on the    advertised products. The Bitcoin rewards will keep you viewing ads and earning. After some time, you will see the Bitcoin money in your wallet mounting up.
  4. Mining: Bitcoin mining generates new Bitcoins. When you do Bitcoin mining, your computer adds fresh Bitcoin transactions to the block chain and searches for you new blocks. As your computer finds any new block, you get Bitcoins in certain quantity. Since Bitcoin mining as being hardware intense program is expensive, some individual Bitcoin miners join the mining pool also. Bitcoins mining is a time consuming and costly process.
  5. Trading to get Bitcoin: It is the best feasible way that anyone can follow to earn quick Bitcoin. Online trading is different than gambling. If you see any opportunity to buy a particular asset for a reasonable price, buy it and sell it immediately at the higher price. Before buying the asset, you must be confident of selling that asset immediately at higher price. The Bitcoin world is full of such arbitrage earning opportunities but you should start cautiously because it requires some experience.
  6. Earn Bitcoin as part time money: If you are working as a freelancer, you can request the client to pay part of payment in Bitcoin. Even if you are a regular employee, you can request the company to pay part of salary in Bitcoin. There are not too many businesses who would agree to pay in Bitcoins but there are some businesses at least willing to pay in Bitcoin currency.
  7. Earn Bitcoins as the interest payments: If you have earned some Bitcoins already, you can put the Bitcoins to earn for you. Lend them out at particular interest rate. You can lend the Bitcoins directly to someone known at a greed interest rate and repayment period. You need to assess trustworthiness of borrower. Peer to peer Bitcoin lending is another way to let the earned Bitcoins earn for you. There are many peer-to-peer lending websites where the borrowers post the borrowing requests. Over these websites, you can act as a lender. It is also possible to fund the small portion of numbers of loans to reduce the risk.
  8. Bitcoin Rewards: Certain websites invite the visitors to explore the showcased products and comments on the display or the refer the advertisement to anyone other; the, efforts and time are compensated with Bitcoin reward. Some websites offer Bitcoin rewards even for viewing the advertisements for a certain period as per the requirement of PPC.

Concluding Note:

The craze of getting Bitcoins is increasing fast all across the world because of unmatched benefits of holding this currency. As the popularity of Bitcoins is increasing, the numbers of opportunities to earn Bitcoins are also increasing but the fraudsters are also inventing new means to cheat online. Be careful!  

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