It has been more than a decade since Bitcoin was first introduced and since its emergence, enthusiasts and investors have been trying to make more money on their crypto. In the initial days, HODL-ing was the most popular strategy for getting some new coins. If you are new to the world of cryptocurrencies, then you should know that HODL is actually a misspelling of hold. This became a slang term that referred to the buying-and-selling strategy used by Bitcoin investors and the crypto community in general. This strategy involves Hodlers waiting for the right moment when their cryptocurrencies reach their desired rate and then selling them for gaining profits.
However, as the crypto space has expanded and grown, it can be safely said that Holding is no longer enough. In addition, it is important to remember that a sufficient amount of BTC is required for this strategy to be able to generate the kind of profits you are interested in. Obviously, people wish to earn Bitcoins and if they don’t want to Hodl, there are a number of other ways they can explore. There are some opportunities that exist because people have gotten quite creative for earning more Bitcoin and have figured out ways to do so without having to spend a dime, in some cases.
So, what are a couple of ways you can earn Bitcoin? Let’s take a look at some of them:
Using an Interest Account
If you have already bought some Bitcoin and are interested in growing your digital asset, you can choose to do so by opening an interest account on a crypto lending platform. There are a number of such lending platforms for cryptocurrencies that you can find these days, such as Hodlnaut, and these offer some very attractive interest rates on different crypto assets via the interest account. Some of the other lending platforms that you can also check out for their interest rates include Nexo, Celcius Network, and YouHodler.
In simple terms, you will be opening a custodial account where you will be able to deposit your Bitcoin and earn an interest on it on a monthly basis. Usually, the terms and interest rates offered via these platforms are quite favorable, as they don’t require any minimum deposit and offer a percentage yield of more than 8.3%. Similar to any other investment, you would obviously need to go through the fine print before you make an interest account and deposit your assets. However, this is one of the best ways of earning free Bitcoin through your existing assets.
Opting for a Bitcoin Cashback when Shopping Online
Are you aware that it is possible to earn a cashback in the form of Satoshis when you are shopping online? A cashback refers to an eCommerce reward system and there are some big names, such as Macy’s, Expedia, eBay, and Hilton that have actually rewarded their clients in the form of crypto. You will find a number of cashback reward apps that can come in handy. For instance, there is a microtask and earning platform called StormX and you can use this app for shopping online at your favorite merchants that are offering cashback.
Some of the other notable apps that you can check out include Fold, CoinRebates and Lolli and these enable you to make almost 30% back in the form of Bitcoin rewards when you shop at the retailers that are part of the program. The reward will be given to you in the form of Bitcoin after a certain time period and it is usually when the return period of the purchased item has expired.
Affiliate Marketing Programs Offering Bitcoin
One of the most effective ways of earning some additional Bitcoin is to participate in an affiliate marketing program that’s offering it as a reward. There are a lot of ways that you can do about it. For instance, if you are running a YouTube channel or a personal blog, then you can simply embed an affiliate marketing link that provides rewards in Bitcoin. You will receive the award when people visit the channel and open the link. The links can also be referred to your friends and family and you can also use other channels that you believe will get you the highest success rate for your referrals.
There are some prominent companies offering lucrative affiliate rewards like hardware wallet Trezor. They provide a 12% to 15% commission for every successful referral. If you are a trader, you can consider the peer-to-peer trading side called LocalBitcoins for Bitcoin as well as other cryptocurrencies. Moreover, they are also offering a 20% commission to traders for successful referrals to your Bitcoin wallet.
Use Leverage Trading
Leveraged trading is another alternative to explore when you want to earn Bitcoin. Leverage simply refers to the funds you have borrowed, which can increase the exposure and position in size of the trader, as well as their profitability. This form of trading works by deposits, which act as your margin for the increased exposure. One of the biggest benefits of this form of trading is that you only have to deposit a fraction of the value of your trade for getting equivalent profit, similar to conventional trading in other exchanges.
Some of the prominent platforms where you can partake in leverage trading include BitMEX and PrimeXBT, as both of these offer leverage allowance of up to 100 times for Bitcoin trades.
Get Paid in Bitcoin
This is rather straightforward and is something that can happen. There are a lot of progressive companies in today’s digital world that are willing to pay their employees in Bitcoin. This is especially true for those in the finance and technology sectors. For instance, a few companies like Fairlay and Exodus provide their employees the option of getting paid in Bitcoin or a combination, but no only-fiat currency option. If you choose to get paid in Bitcoin, you can increase your crypto capital further and reinvest into some of the other avenues outlined above.