Learn more about Yearn.finance, a relatively unknown lending aggregator that became one of the most popular digital currencies and...
Today people are searching for ways to earn Bitcoin creatively, in some instances, without even having to spend a cent on it. Check out some of the ways you can earn Bitcoin with no hassle.
Since the emergence of Bitcoin over a decade ago, investors and enthusiasts have been trying to earn more on their crypto. In the beginning, HODL-ing is the go-to strategy for earning new coins. For those who don’t know or new to the world of cryptocurrencies, “HODL” is a misspelled word from hold, which became slang term referring to the buy-and-hold strategy amongst the Bitcoin and cryptocurrencies community. This allows Hodlers to wait for the right moment when their assets hit desirable rates before selling and gaining profits.
Hodling is not enough anymore. Not to mention, it requires a sufficient amount of BTC to hodl to generate substantial profits. People want to earn Bitcoin, and in different ways, luckily, such opportunities do exist. Nowadays, people manage to earn more Bitcoin creatively, in some instances, without even having to spend a dime on it.
So what are some of the ways you can earn Bitcoin?
If you already own some Bitcoin and looking to grow your digital asset, one of the most efficient ways to do it is through an interest account with a crypto lending platform. Many crypto lending platforms out there, such as Hodlnaut, offer varying attractive interest rates on multiple crypto assets through the interest account. Other crypto lending platforms that offer interest accounts include YouHodler, Celcius Network, and Nexo.
It’s essentially a custodial account where you can deposit your BTC and earn interest every month. Usually, the interest rates and terms offered through these platforms are often favorable, with no minimum deposit and effective annual percentage yield of up to 8.3%. As with any investment, you would need to read the fine prints before creating an interest account and depositing your assets. However, this is one of the easiest ways to earn free Bitcoin based on your existing assets.
Do you know that you can earn cashback in Satoshis when shopping online? A cashback is an eCommerce reward and rebate system when shopping, and many big names such as eBay, Expedia, Macy’s, and Hilton have been known to reward their customers with cashback in crypto.
There are many cashback rewards app that you can consider. Through an app like StormX, a microtask, and earning platform, you can shop online at your favorite merchants that are currently offering cashback. Other notable apps such as CoinRebates, Fold, and Lolli allow you to earn up to 30% back in Bitcoin rewards when you shop at participating retailers. You’ll get the reward in Bitcoin once a certain period passes, usually when the purchased items return period has expired.
An affiliate marketing program is one of the most effective ways to earn additional BTC. And there’s a lot of ways to do it, for example, if you run a personal blog or YouTube channel, you can embed an affiliate marketing link that rewards in Bitcoin, when people visit the channel and click on the link to sign up, you will get the reward. You can refer your links to anyone such as friends and family, and in any channels where you think you’ll get the best success rate for referrals.
Many companies offer lucrative affiliate rewards such as Trezor, a hardware wallet, where for each successful referral, you will receive up to 12-15% commission. If you’re a trader, LocalBitcoins is a notable peer-to-peer trading site for Bitcoin and other major cryptocurrencies. Also, they’re giving 20% commission for successful referrals directly to your local bitcoin wallet.
As straightforward as it sounds, you can choose to get paid in bitcoin! In today’s digital world, progressive companies, especially those in technology or financial technology sectors, pay their employees in Bitcoin. For example, some companies such as Exodus and Fairlay either give their employees the option to get paid in Bitcoin or combination with or no fiat currency option.
By choosing to get paid in BTC, you will have the chance to increase your crypto capital and further reinvest into other avenues such as interest accounts or other crypto earning methods, as previously mentioned.
You can also earn Bitcoin by leverage trading. In this case, Leverage refers to funds that are borrowed, which increase the trader’s position in size and exposure, and eventually, its profitability. It works by deposits, which serve as your margin to see increased exposure.
One benefit of using this type of trading is that you only need to deposit a fraction of your trade value to get equivalent profit as in conventional trade in other exchanges. One of the most popular platforms where you can do leverage trading is PrimeXBT and BitMEX, as they both offer leverage allowance up to 100x for Bitcoin trades.
Earning BTCcan be hassle-free and low cost. If you know where to look and what to do, you’ll generate a steady stream of revenues in the form of crypto without any efforts. And as with any financial decision, always read through the fine prints carefully before committing or investing to avoid undesirable setbacks.
The article was written in the partnership with Sten Ivan, the Head of Growth at Hodlnaut, a Singapore-based fintech startup that enables users to earn favorable interest rates on their crypto assets.