Last updated on May 4th, 2021 at 09:05 am
The days of mining for your own Bitcoin are over. Luckily there's more than one way to obtain it.
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After bitcoin and many other cryptocurrencies crashed back to Earth in early 2018, it’s understandable to be a bit gun shy when it comes to investing. Now that Bitcoin has reached a high of over $20,000 many people are jumping back into the trading game and wondering how high it can go. Others are afraid a crash is imminent and this is a bad time to buy in.
If you are wanting to ride the crypto wave right now and make some money with bitcoin but are afraid to invest, then you’re in luck. You can still make money with bitcoin without ever needing to buy or trade it.
In this article, I will go over several ways that you can take advantage of bitcoin’s popularity and make some money without investing.
Play Some Casino Games
If you like to gamble but don’t like to invest, then you can always play some of your favorite games at a bitcoin casino. Obviously, this is not risk free as gambling is a much greater risk than investing. However, if you are already playing online games, then you may just want to play with bitcoin instead of your local currency.
Why play with bitcoin? There are a couple of benefits but the biggest is that you can see your winnings gain in value while it sits in your digital wallet.
The other advantages are that you can bypass any of the local restrictions that might be in place with regards to online gambling since you don’t need to use a bank to buy in. And, the winnings are transferred instantly into your wallet unlike the wait you would encounter in a regular online casino.
The one thing to be careful about is the Bitcoin tax that may be much different than how you are taxed on fiat currency winnings.
Get Paid in Bitcoin
One easy way to make bitcoin without investing is to take on a side hustle and get paid in bitcoin instead of local currency. For instance, you could easily find some short term gigs online doing things like data entry, programming troubleshooting or some website design work and ask to be paid in bitcoin or some other cryptocurrency.
Then, when the value rises, you make even more money from doing the original job. Of course, there is the possibility that the value will drop, but if this is not your primary income then it pays to let it sit for a while and pretend you don’t have it. Even after a dip the value usually increases albeit sometimes slowly.
Blog About It
Now that Bitcoin is seeing a resurgence there is a lot of interest being paid to it. Take advantage by creating a blog, podcast or YouTube channel about it. The commissions for affiliate sales are among the highest of any topic so you can make quite a bit of money doing this.
*This article has been contributed on behalf of Paxful. However, the information provided herein is not and is not intended to be, investment, financial, or other advice.
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