How to make free bitcoin money

Earn Bitcoins for being helpful. Some ways of getting Bitcoin are better than other ways, while some are even worse than scams. I am not clear about faucets that what they are and how they work.

The first and lowest risk way to make money with Bitcoin is starting your own Bitcoin faucet. Bitcoin Faucets are websites which give out bitcoins in exchange for time spent on the website. The business model behind bitcoin faucets is simple, monetize the traffic via ads on the site. There is a free and open source solution to those wanting to start their own Faucet called FaucetBox. Once you have the faucet running you must decide how to monetize your traffic either via google how to make free bitcoin money or possibly using Bitcoin friendly ad networks like bitmedia or coinad. This one is a bit higher risk than starting your own Bitcoin faucet but the reward increases exponentially. Arbitraging between Bitcoin exchanges works the same way arbitraging works in any other markets.

How do I earn the free bitcoin?

Bitcoin, as a cryptocurrency, has been subject to mainstream debate for quite some time now. People analyze its past and speculate about its future for a wide variety of reasons — some people want to know the history of cryptocurrencies, others are curious about possible investment opportunities. Bitcoin was created back in by someone or some group of people known by the pseudonym of Satoshi Nakamoto. At the time that it saw the light of day, nobody had even heard of cryptocurrencies, let alone encountered one. Bitcoins infant and teenage years were pretty rough — it failed to gain significant traction and attention, even though its prices fluctuated for what at that time seemed quite a bit.

What do I have to do?

The first and lowest risk way to make money with Bitcoin is starting your own Bitcoin faucet. Bitcoin Faucets are websites which give out bitcoins in exchange for time spent on the website.

The business model behind bitcoin faucets is simple, monetize the traffic via ads on the site. There is a free and open source solution to those wanting to start their own Faucet called FaucetBox. Once you have the faucet running you must decide how to monetize your traffic either via google adsense or possibly using Bitcoin friendly ad networks like bitmedia or coinad.

This one is a bit higher risk than starting your own Bitcoin faucet but the reward increases exponentially. Arbitraging between Bitcoin exchanges works the same way arbitraging works in any other markets. There is usually a spread of a few dollars in either two of those exchanges so buying Bitcoins from one exchange and selling it on another can earn you a few percent on your holdings.

The risky part comes in the form of Bitcoin market volatility. Because buying Bitcoins from exchanges takes a few days if the market moves significantly one way then you can potentially loose any margin from the arbitrage. Some exchanges like Coinbase and Circle offer instant buy up to a certain amount so using that feature can reduce your risk threshold for arbitraging, but with the low limits you can only make so.

Yet another way to make money with Bitcoin, this one about as risky as arbitraging is lending your Bitcoins using p2p lending services like BTCJam or Bitbond. Furthermore, you can visit the Lending section in Bitcointalk and lend Bitcoins for some sort of collateral, sometimes the collateral can be Altcoins which you can turn into profit. There is a risk of fraud as a user can sign up to a lending website using fake or stolen credentials, while the risk of that happening is low it still must be taken into account.

Another moderately risky way to make money with Bitcoin is selling them on Localbitcoins. There is a robust market on Localbitcoins for buying and selling bitcoins. It goes without saying that accepting PayPal or Amazon Gift Card presents a huge risk for a chargeback or gift card how to make free bitcoin money due to potential fraud.

This is the highest risk way to make money with Bitcoin. You can rent rigs running all sorts of hashing algorithms suited for all types of Altcoins. If you visit the Altcoins Announcement section on Bitcointalk you can find daily announcements of new altcoins launched every day.

Renting cloud mining rigs can be a fun and profitable activity if you do your research before choosing to invest into any altcoin. If you liked this article follow us on twitter themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Mark is a 24 year old cryptocurrency entrepreneur. He was introduced to Bitcoin in and has been involved with it ever. He used to mine bitcoins and altcoins but now focuses on blogging and educating others about digital currencies.

About The Author Mark Mark is a 24 year old cryptocurrency entrepreneur. Necessary Always Enabled.

We may receive compensation from our partners for placement of their products or services. Bitcoin Last Updated : November 15, Read more about how bitcoin mining works in our guide. I will try it. A few years ago, you might have been able to make hundreds of bitcoin by mining on a home computer. This how to make free bitcoin money uses Akismet to reduce spam. Finder, or the author, may have holdings in the cryptocurrencies discussed. Note: This list of exchanges starts with some of the easiest to use exchanges for newbies and moves toward some of the most advanced exchanges for advanced users. Was this content helpful to you? Please appreciate that there may be other options available to you than the products, providers or services covered by our service.