How to earn Bitcoin - Three Easy Ways
Currently, there are multiple ways to earn money directly in Bitcoin (BTC), although not every alternative is suitable for everyone. Some are easier or more accessible than others. Each requires developing different knowledge and allocating an additional investment margin, either money or time.
We select three very different methods that allow you to earn bitcoin, and we analyze how difficult it is to carry out each one. Below, you can see which ones are in order from least to most difficult: gaming, trading, and mining.
Play Games to Earn Bitcoin
As we have pointed out on different occasions, several play-to-earn game options on the market allow you to win cryptocurrencies. It is important to know that some offer Bitcoin directly when meeting the objectives, such as those of the company Thndr Games or Fold, while others deliver a token that can then be exchanged for bitcoin if desired.
When using a game that offers rewards in a cryptocurrency that is not bitcoin, it is vital to remember that the accumulated earnings can decrease if you lose several players or there is high selling pressure on the token. It has happened, for example, with Axie Infinity's SLP tokens or Plant vs Undead's PVU. On the other hand, this cannot happen if it works directly with Bitcoin since its price fluctuations do not depend on a game's interest.
Another issue to keep in mind is that games require investing money to play, for example, buying tokens or NFTs (non-fungible tokens), as it works in Axie Infinity. Although this also allows Axies owners to grant scholarships, many players have entered the game for free in exchange for a percentage of the profits.
There are also completely free options on the market, such as those mentioned at the beginning, or RollerCoin, a game that simulates Bitcoin mining and grants rewards.
Considering the free games that do not require an initial investment, this method of earning bitcoin is easily accessible to anyone without the risk of losing money. It is only necessary to learn to play them and develop skills to meet the objectives. The disadvantage is that they require a lot of time to be invested, and the profit margin is not that great.
Bitcoin trading consists of buying cryptocurrencies at a low cost to sell when they have increased price and thus benefit from volatility. A fiat money can then be used to buy more bitcoins if their price drops.
The investment amount can be the amount of money that each person wants since it is adaptable to any bag. It makes it accessible to anyone, as long as they have a little or a lot of money left.
However, despite its ease of access, it should be noted that trading is a complex activity to earn bitcoin. In addition to specifying investment money, it requires training in principle on how the system works, the exchange to use, and the fluctuation graphs and other indicators.
In addition, you need to spend a lot of time every day keeping up to date with prices and what is happening in the market. And that's not all. It also requires developing the decision-making capacity to buy and sell, knowing that there is a possibility of losing the money invested in it is bought higher than it is sold.
Trading is a very high-risk method of earning bitcoin that requires an investment of money and time. It makes it a difficult way to acquire cryptocurrency, but at the same time, it can generate great profits if it is sold higher than what is bought. It is how some people manage to generate income with bitcoin.
Simply put, bitcoin mining is how new bitcoins are created. It could be said that "it is like the machine that prints tickets that each country has", with the difference that this activity is decentralized and digital. It does not depend on a centralized entity such as the government, nor is it physical. In addition, this activity provides security to the network with the computing power of the miners.
Anyone in the world could mine bitcoin, as long as they have the necessary equipment and live in a country where the activity is not prohibited, as is the case in China. The big question then is if anyone can have a “personal money-making machine”, why doesn't everyone have it?
It turns out that the activity is not as simple as it sounds. For this reason, it is positioned third on this podium of ways to earn bitcoin from least to greatest difficulty. Unlike gaming and trading, cryptocurrency mining requires a large investment of input money, which is something that is not easily accessible to everyone.
It works through expensive, energy-intensive technological equipment that solves mathematical problems 24 hours a day to mine bitcoins. To this, the mining takes time depending on the equipment, the energy, the competence of the miners (difficulty), the maintenance, and other technical issues.
Because of this, we should take a long time and money and training before and during. Although if that stage is successfully passed, with constant maintenance, it can be one of the most stable and profitable ways to earn bitcoin, as we have shown in an article that indicates the pros and cons of mining vs. trading.