5 Tips to Quickly Earn Cryptocurrency: How To Get Paid In Bitcoin
Section 1: What is cryptocurrency?
Cryptocurrency can be defined as the “fuel” behind the likes of Bitcoin and Ethereum. These cryptocurrencies act as virtual units of money which do not rely on a central authority such as a bank to work. Instead, they run on the blockchain technology that is the core of Bitcoin and Ethereum. The blockchain essentially makes cryptocurrencies a decentralized form of money, something which may be considered revolutionary.
Cryptocurrency has changed the way people conduct business, and is often used to store wealth. To understand cryptocurrency, it is important to understand its history. Bitcoin was first introduced back in 2009, and in the eight years since its inception, there have been multiple Bitcoin variations.
How to earn cryptocurrency quickly
Recently, Bitcoin reached a new all-time high at $17,000 USD. At that price, it took more than two years for Bitcoin to go up from $1,000 USD. There’s a big difference in how quickly Bitcoin can change direction as compared to other popular cryptocurrencies such as Ethereum. For example, Bitcoin changed direction in one day from a low of $5,000 to $17,000. Other cryptocurrencies are not as volatile in their movements.
For those looking to get rich quick by investing in Bitcoin and other cryptocurrencies, cryptocurrency can be much more volatile than investing in stocks. However, there are many other ways to gain quick access to cryptocurrencies.
Set up a mining rig
Mining rigs are essential for getting cryptocurrencies. These devices are essentially home-based computers with powerful graphics cards and (sometimes) custom circuit boards designed for high-performance computation. You might also have to invest in a high-end PSU to power your rig, a high-end motherboard, and maybe even a new processor, but once you have all that, you can start mining.
There are hundreds of different manufacturers making these rigs, and they can vary in size and specifications. Some are much more affordable than others, and you will definitely want to check reviews to find one that fits your budget. The best thing about cryptocurrency is the constant stream of new currencies, so the more machines you can buy, the more money you’ll make.
Earn cryptocurrency with mining pools
The simplest way to earn cryptocurrency is to run a dedicated mining rig in your basement or garage. Mining rigs take graphics cards that are attached to a high-speed network and use these high-performance graphics cards to crack the cryptographic algorithms that are used to create new coins. Mining rigs require massive amounts of processing power and are widely used for Bitcoin mining.
Mining is a competitive industry and some people even specialise in different cryptocurrencies and sub-currencies so they can earn the most from them. This could be with Dogecoin, Litecoin, Dash or Ethereum. But, be warned that in a highly competitive market this doesn't always pay off.
As with most things cryptocurrency it all depends on the coin and the community.
Earn cryptocurrency with faucets
Faucets are often referred to as Monero gateways or Faucets. They allow you to earn cryptocurrency fast by ‘playing’ the game or entering data, so that you can instantly receive it in your wallet. They are super easy to setup, and a great way to gain cryptocurrency fast!
If you’re new to faucets, we recommend reading: How to Earn Cryptocurrency Quickly
Where can you use cryptocurrency?
You can easily buy cryptocurrency with just a credit card. In fact, cryptocurrency is now so mainstream that some banks now support it! Here’s a link to read more about it.
Here’s where you can buy bitcoin:
How much can you invest?
As with anything, it’s important to be responsible with your money. As with anything, that doesn’t mean you shouldn’t invest.
Earn cryptocurrency by playing games
You don’t have to be a hardcore cryptocurrency investor to make money by playing games. You just need to be willing to pay a little bit of money and to have a basic understanding of bitcoin.
The game is completely free, but you do have to pay a small amount of money to unlock the remainder of the game. You will get your initial payment in bitcoin (which you can spend anywhere you want) and then you will be able to play the rest of the game.
Crypto Ninja is one of the highest-rated games on the Play Store.
Cryptocurrency mining with your smartphone
We’re all aware of the concept of cryptocurrency mining, which is basically when you own some bitcoin and then use your computer to help it earn more bitcoin.
It requires a bit of technical know-how, but it’s not impossible to do.
It’s evident that both Bitcoin and cryptocurrency are here to stay. Whether it’s Bitcoin, Ethereum or Litecoin, the overall feeling is that this is just the start of something very big. What is equally as fascinating is the response from merchants and consumers. Many of them see the huge potential in accepting cryptocurrency as a form of payment.
Along with the good news, there have been some issues as well. These problems aren’t impacting the largest merchants, but they’re definitely impacting those with smaller or less-known customers. Luckily, there are some tried and true methods for helping to attract these kinds of customers, along with some very good ways to make a little bit of money.