How do I earn money from Bitcoin?

Cryptocurrency has come a long way from its roots. Back in 2010, a computer programmer bought two Papa John's pizzas for 10,000 Bitcoins. At current exchange rates, those two pizzas would be worth over 90 million dollars. It's safe to say that these were the two most expensive pizzas ever bought by human hands.

Enough about pizza: let's say that you want to get a slice of the action and earn Bitcoin yourself. All the Bitcoin on Earth is worth around $160 billion so why not claim some for yourself? In this guide, we're going to show you how to get free cryptocurrency.

You can forget handing over dollars for crypto. By the time that you've finished this article, you'll know how to get free Bitcoin for little to no effort on your part.

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Ready to find out more and claim a piece of that billion-dollar market for yourself? Then read on.

1. Using An Interest Account

One of the best and easiest ways to earn Bitcoin is by opening a savings account like those offered by BlockFi or Celsius Network. These savings account work like any other. You deposit Bitcoin into the account and, over time, interest grows on your initial deposit.

This is a fantastic solution for those who have bought Bitcoin in the past as an investment and don't know what to do with it. You can't invest in stocks and shares very easily with Bitcoin, so some people end up having Bitcoins sat in their wallets doing nothing, sometimes losing value.

One of the best features of Bitcoin interest accounts is that they often have fantastic interest rates. The interest starts from the very first moment that you put Bitcoin into an account and it compounds over time, so you'll likely end up with a good return every year.

For those wondering how to get free Cryptocurrency, there aren't many better solutions out there. It does require owning some Bitcoin to start with but fractions of Bitcoin don't have to be expensive. Make that investment and you could end up with considerable returns.

Using Loans

Loans may not seem like the most obvious way to make money but they can help you make some serious crypto cash. When you take out a loan with a company like Nexo, you provide them with a Bitcoin as collateral. If you fail to repay your loan, they'll take your collateral.

In return, you get fiat currency or stablecoins that you can use however you please. Using these funds you can make investments and trade your coins to make more money. You'll need to make regular payments on your loan but you still have the opportunity to make serious cash.

You'll need to keep making repayments until you have paid off the loan at which point, you'll get your collateral back. This may seem very akin to a regular loan but there are some key differences to getting a personal loan at a bank.

Unlike a personal loan, your credit score won't matter: you're not going to get stuck in the trap of having to rebuild your credit score. You're offering collateral upfront so there's no risk to either side. If you can't pay the loan back, they'll take the cryptocurrency: they won't lose any money and you won't need to deal with debt collectors.

If you're interested in learning how to get free cryptocurrency and find the best lender that you can, take a look at our site's listings.

Debit Card Rewards

There aren't many easier ways to earn Bitcoin than by having it as a reward for your day-to-day spending. That's what debit card rewards can offer you. Don't expect this kind of service with Amex, though; you'll need to find a more specialized debit card for this.

Specialized crypto cards offer you rewards for every processed transaction on that card. This is very similar to the more traditional system where spending fiat currency gets your airline miles but with money in place of vouchers.

What can you spend this Bitcoin on? Often, you'll be given a shop where you can trade Bitcoin for gift cards that you can use at a wide range of different stores online and off.

How to Get Free Cryptocurrency By Mining

The most traditional way to earn Bitcoin is by mining. What is mining and what does it involve? Let's take a closer look.

What Does Mining Bitcoin Do?

Mining isn't only a fantastic way to earn Bitcoin, it also serves a very important purpose for the crypto community. Mining means using your computer to solve complicated mathematical problems that make up the blockchain.

In essence, the blockchain is a record of verified Bitcoin transactions. When you solve these problems, you record these transactions in a huge shared database of Bitcoin transactions.

Due to the shared and open nature of the blockchain, forgery is almost impossible, which makes Bitcoin and other cryptocurrencies that use its model, the most secure currencies in the world. This is the public service that lets you earn Bitcoin while contributing to keeping Bitcoin the functional and safe currency it is today.

When you mine, you're competing against other miners to be the first to solve the problem. This means that if you want to make good returns by mining, you need powerful hardware.