There are many ways to make money from the cryptocurrency markets. This includes buying and HODLing digital currencies in the traditional sense and via staking, interest accounts, airdrops, play-to-earn games, etc. This beginner’s guide discusses ten proven ways to earn money with Bitcoin in 2022.
Ten ways to earn money with Bitcoin
If you wonder how to earn money with Bitcoin right now, consider the ten methods outlined below.
- Invest early in promising new coins – overall, the best way to earn money with Bitcoin Staking and Interest is – Earn a passive income from unused cryptocurrency tokens.
- Day Trading – Make money trading cryptocurrency pairs
- HODLing – Invest in cryptocurrency and HODL for the long term
- Play to Earn Crypto Games – Earn rewards for playing crypto games
- Crypto Yield Farming and Lending – Generate an attractive APY on your cryptocurrencies
- Faucets – Earn free cryptocurrency by completing simple tasks
- Airdrops – cryptocurrency tokens deposited into your wallet for free
- DAOs – Buy a stake in a decentralized autonomous organization
- Mining – my cryptocurrency by connecting hardware to your desktop device
The following paragraphs explain how you can make money using the above ten methods.
1. Invest in promising new coins early – overall, the best way to earn money with Bitcoin
The best way to earn money with Bitcoin is to invest in the best altcoins as early as possible. If you invested in bitcoin when the digital currency was launched in 2009, you would have paid a tiny fraction of a cent. Similarly, Ethereum was trading at just $0.75 per token when its token was released in 2015.
The above projects are now worth thousands of dollars and have generated significant returns. A more recent example is Lucky Block, which develops a decentralized app that will facilitate global lottery games via immutable intelligent contracts. When this promising cryptocurrency started its pre-sale in January 2022, LBLOCK cost only $0.00015.
Since then, CoinMarketCap notes that Lucky Block has crossed a price of $0.009. This equates to thousands of percent gains in just a few months of trading. Despite this, Lucky Block is still a super young cryptocurrency project, and hence you can invest in this project early. This gives you the best possible chance to invest at a great price.
2. Staking and Interest – Earn a passive income from unused cryptocurrency tokens
There are two unique concepts in the cryptocurrency markets that allow you to earn passive income from idle digital tokens that you own. The first is crypto staking, which involves locking your tickets for a set amount of time to validate transactions on proof-of-stake blockchain networks.
Examples of leading staking networks are Cardano, Tron, and very soon – Ethereum. You receive an interest rate as long as your tokens are locked away. However, if you are taking on the eToro platform, you are not required to adhere to a minimum lockup period. Instead, you can withdraw your tokens at any time.
A fascinating account is the second concept to consider when learning how to earn money with Bitcoin passively. Crypto interest accounts work much like a traditional bank in their simplest form. This is because depositing your cryptocurrency tokens makes you an interest rate.
However, unlike staking, your crypto tokens are not deposited into a smart contract. On the contrary, your chosen provider will lend your tickets to those who need to borrow money. And therefore, the borrower pays you an interest rate as long as the tokens are lent.
The best overall crypto savings account on the market right now is offered by Aqru. This reputable platform allows you to earn 7% per year on Bitcoin and Ethereum deposits and 12% on stablecoins like Tether. All accounts offered by Aqru are flexible, so there are no lock conditions to be met. Furthermore, you can even deposit funds in fiat money and buy cryptocurrency through the Aqru app.
3. Day Trading – Make money trading cryptocurrency pairs
One of the most lucrative ways to earn money with Bitcoin is actively participating in day trading. However – there is a small catch – you must have at least a basic understanding of how to analyze prices to determine whether the token in question is likely to rise or fall in value. If you can do this, you can make money from crypto all day long.
The overriding concept with crypto day trading is that you will try to take advantage of short-term volatility. Additionally, experienced traders in this market will rarely, if ever, hold a position for more than a day. And as such, the goal is to open multiple classes throughout the day to make smaller but frequent profits.
To trade digital currencies, you need to find a regulated crypto exchange that meets two core criteria – low fees and support for many markets. Regarding the former, if you’re trading crypto during the day with a conversation that charges high prices, you will struggle to make the process worthwhile. Eventually, your profitable trades will be eaten up by commissions.
For example, Coinbase charges 1.49% per slide – meaning this fee must be covered before you can close the trade for a profit. eToro, on the other hand, is much more competitive. In addition, eToro gives you access to dozens of leading digital currencies, so you never run out of day trading opportunities.
4. HODLing – Invest in cryptocurrency and HODL for the long term
This method from our list of earning money with Bitcoin is arguably the best option for beginners. This is because HODLing — a pun on the phrase “holding” — refers to the process of buying a cryptocurrency and holding onto your tokens for a long time. This is no different than buying shares and having the claims for several years.
You don’t have to worry about short-term price fluctuations – significantly when investing in solid and established cryptocurrencies such as Bitcoin and Ethereum. For example, in May 2021, Ethereum was priced at $4,300 per token. A month later, Ethereum’s price had fallen to $2,100.
Had you panicked and sold your ETH tokens, you would have lost about 50%. However, had you engaged in HODLing, Ethereum was trading at almost $4,900 per token in November of the same year. This is just one example of many. The critical point here is that a long-term strategy is the most effective way to invest in cryptocurrency.
Once again, to HODL your investments in the best possible way, you need to find a suitable exchange. eToro fits the bill here, too, as you can invest in 60 leading cryptocurrencies for as little as $10 at industry-leading fees. Additionally, this exchange is approved by the relevant licensing bodies in the US, and thus – you will be able to HODL safely and securely for the long term.
5. Play to Earn Crypto Games – earn money with Bitcoin by playing crypto games
If you are thinking about how to earn money with Bitcoin, you might be surprised to learn that it is possible by playing games. The play-to-earn crypto gaming marketplace is now worth billions of dollars. There are many variations and types of titles in this space, although Decentraland is perhaps one of the best crypto games.
Simply put, Decentraland offers a Metaverse that allows players from all over the world to create a virtual avatar, chat with other people, and, most importantly – buy plots of land. Once you have purchased a plot of land and built your real estate project, this is then represented in the form of a unique NFT.
Then you can sell your property NFT on the open market. While this concept may sound far-fetched, some lots in the Decentraland Metaverse have sold for millions of dollars. This means that investing early gives you a chance to buy an NFT at the best possible price.
6. Crypto Yield Farming and Lending – Generate an attractive APY on your cryptocurrencies
Another beginner-free way to earn money with Bitcoin is yield farming and lending. While these two investment concepts allow you to make interest passively, they refer to slightly different methods. Primarily, crypto yield farming refers to lending your idle tokens to a liquidity pool.
In most cases, they provide much-needed liquidity to decentralized exchanges. Leaders in this market include Pancakeswap and Uniswap on the Binance and Ethereum blockchain networks, respectively. When you deposit funds into a liquidity pool, it is often locked to a minimum.
And as long as the tokens are in the liquidity pool, you get an interest rate. In many cases, the newer and less liquid a cryptocurrency is, the higher the respective APY offered by the pool. When it comes to crypto lending, this refers to the same concept we discussed earlier – in that you deposit your digital tokens into a savings account.
And in doing so, your tokens are lent to those who want to borrow money. It is essential to choose your preferred platform wisely for crypto lending. Because you always run the risk of borrowers defaulting. This is why Aqru stands out again – as the venue only lends crypto to high-quality borrowers who have been pre-screened.
7. Faucet- Earn money with Bitcoin by completing simple tasks
Cryptocurrency faucet websites allow you to earn free digital tokens by completing missions. There are many platforms in this space, and the specific charges you need to perform vary from site to site. For example, some crypto faucet platforms require you to fill out captchas.
This is something that anyone can accomplish – so no previous experience is required. You then have crypto faucets in the form of a mobile app. These often need you to play newly launched games, and when you hit certain milestones, you’ll get free crypto.
However, it is essential to note that the rewards offered on crypto faucet platforms are tiny. In fact, in most cases, each task you complete will barely bring in pennies worth of crypto. Still, you don’t need to deposit any money to earn rewards risk-free with Crypto Faucets.
8. Airdrops – cryptocurrency tokens deposited into your wallet for free
Like faucets, airdrops allow you to earn free cryptocurrency tokens without depositing or spending any money. The central concept is that some newly launched projects distribute their native tickets directly into people’s wallets to circulate the cryptocurrency.
This is in contrast to a traditional pre-sale and fair start directly on a cryptocurrency exchange. And as such, the project will not raise any funds if they initiate an airdrop. While this sounds too good to be true, numerous examples of airdrops have grown into multi-billion dollar projects.
A prime example of this is Bitcoin Cash. When this digital currency was launched in 2017, it dropped its BCH tokens to all Bitcoin-owned wallet addresses. This was on a 1:1 basis – meaning that for every 1 Bitcoin you own, you would have received 1 Bitcoin Cash.
In another example, popular cryptocurrency Stellar has airdropped millions of dollars in Lumen tokens since the project launched in 2014. On the other hand, you must tread carefully when you get an airdrop token. Scammers often create a worthless token and distribute it to random wallet addresses with pump-and-dump intentions.
9. DAOs – Buy a stake in a decentralized autonomous organization
Alongside the Metaverse and NFTs, Decentralized Autonomous Organizations (DAOs) are expected to play a significant role in the future of cryptocurrency and blockchain technology. DAOs refer to projects collectively owned by the community in their simplest form. And to become a co-owner of a DAO, all you have to do is hold the appropriate token.
Many DAOs are working in this space, and each project is unique. One such example is Uniswap. This project hosts a decentralized exchange that allows people to buy, sell and trade digital currencies without the presence of a significant third party. Uniswap has since launched its DAO cryptocurrency, and thus, the project is owned by token holders.
And that means that any profits generated by the Uniswap exchange are subsequently distributed proportionally to those holding their DAO token. In addition, the holders of a DAO token have a say in implementing the respective project. Before a DAO project can decide on future development, there must first be a vote.
10. Mining – Mine Bitcoin by connecting hardware to your desktop device
The final method from our list of the best ways to earn money with Bitcoin is mining. In short, mining refers to connecting specialized hardware to a desktop device, which connects to the cryptocurrency’s blockchain. The idea is that miners allow the network to work decentralized.
This is because transactions are validated when the mining equipment solves complex mathematical equations. And in return, miners are rewarded with newly minted cryptocurrency tokens that circulate and verify each block. With Bitcoin, for example, a new partnership is created every 10 minutes, minting another 6.25 BTC.
That 6.25 BTC — worth over $660,000 at the time of writing — will be paid to the miner who successfully solved the equation for the particular block. Although this means a considerable amount of money at first glance, Bitcoin mining consumes an unprecedented amount of electricity due to the complexity of each mathematical equation.
In addition, the amount of specialized hardware required to stand a chance of mining a new block of Bitcoin is also significant in dollar terms. Apart from that, many other cryptocurrency projects require miners, and in many cases, the competition is few and far between. Ultimately, you must ensure that the mining rewards you receive are worth more than you invest.
Best platforms for trading and investing in crypto
Now that we have discussed the ten best ways to earn money with Bitcoin, we need to discuss suitable platforms you could consider for this purpose.
To save you countless hours of research, the best platforms to make money from crypto details are in the following sections.
eToro – Best Crypto Trading Platform
We briefly mentioned eToro earlier, and with good reason. EToro is the best overall platform to invest in and trade cryptocurrencies. Whether you are looking for HODL cryptocurrency over many years or engaging in a short-term day trading strategy, eToro must have you covered.
First and foremost, this platform regulates – so you can safely delve into the cryptocurrency markets. This includes regulatory approvals in the US, UK, Cyprus, and Australia. eToro offers nearly 60 leading cryptocurrencies to its 25+ million registered users – so you can quickly diversify.
The most commonly traded cryptocurrencies on the eToro website are Bitcoin, Ethereum, XRP, Dogecoin, Shiba Inu, BNB, and Cardano. And we like the fact that the minimum trade size is only $10 – you can try to earn money with Bitcoin without having to risk large sums of capital.
The minimum deposit for US customers is $10, making this suitable for those of you on a budget. We also mentioned earlier that eToro supports crypto staking. Unlike other staking platforms in this space, eToro does not require you to lock away your tokens for a minimum number of days or weeks. Instead, you can withdraw your tickets at any time.
eToro also allows you to make money in cryptocurrency in a 100% passive way through two leading products. First, you can invest money in an intelligent portfolio managed by eToro. There are many cryptocurrency-focused portfolios out there, and your basket of digital assets will rebalance and maintain on your behalf.
Second, if you like the idea of crypto day trading but don’t have the time or knowledge required, eToro allows you to copy an experienced investor’s positions like-for-like.
Aqru – Best for crypto staking, interest, and lending
If you like the sound of passive income, Aqru is the overall best platform to earn money with Bitcoin for this purpose. As mentioned earlier, Aqru is a trusted crypto lending site that offers some of the most competitive APYs.
To reiterate, you earn a 7% APY on Bitcoin and Ethereum. If you are aiming for even more significant gains, Aqru offers a 12% APY on stablecoins. As of this writing, these include DAI, Tether, and USD Coin. In addition to high returns, Aqru stands out in this market because all savings accounts are flexible.
This means that you can request a withdrawal of your cryptocurrency tokens. We also like that your interest payments are credited to your Aqru account daily. You can then invest those payments into an Aqru savings account to benefit from compound interest.
When starting with Aqru, you can deposit digital tokens directly into the platform. If you don’t have cryptocurrency handy, you can also fund your account in USD, EUR, or GBP. Supported payment methods include bank transfers and debit/credit cards.
This guide to earning money with Bitcoin has discussed ten best practices in 2022. The best methods we’ve come across are cryptocurrency savings accounts, play-to-earn games, yield farming, staking, and a long-term HODLing investment strategy.
Why Bitcoin cloud mining?
An unknown individual or group called Satoshi Nakamoto introduced the Bitcoin network in 2009. In 2021, there will be more than 10,000 different projects in cryptocurrencies. So each of them has its role in building the future of money.
The market value of cryptocurrencies reached $ 1 trillion for the first time in January 2021. It passed $ 2.5 trillion less than three months later. So it shows that this market is one of the growing markets favoring its investors.
Bitcoin Cloud Mining is the process by which you participate in a mining pool to a cloud miner website and purchase a certain amount of hash power. In this pool, the profit will distribute equally among all participants who have participated in the mining pool. It will happen based on hash power. Also, the cloud mining platform allows you to mine your BTC without installing any hardware and at no extra cost. So Minerland, the best crypto cloud mining service to earn Bitcoin, helps you invest in Bitcoin easily and with low risk.