Bitcoin 101

How to get Bitcoins without directly purchasing or mining

Only 21 million Bitcoins (BTC) will ever grace the surface of the earth. Although all the 21 million coins have not yet been mined, the value of Bitcoin is increasing making it hard to purchase a whole BTC. Additionally, since the concept of virtual currencies is still viewed by some as a risky affair, it’s better to consider how to get Bitcoins without touching your fiat savings.

This option can be a good way to experiment if later you will hold Bitcoin, Ethereum, Ripple (XRP) or any other virtual currency with the same respect you hold fiat. Some of the ways on how to get Bitcoins without necessary performing a direct purchase or even setting up Bitcoin mining rigs have higher risks than others.

How to get Bitcoins by writing about Bitcoin

Writing about Bitcoin is by far the most lucrative and less risky way to get Bitcoins without directly investing some money in the coin. The birth of Bitcoin and virtual currencies brought with it a community of digital currency enthusiast. This community looks upon crypto websites that cover daily, weekly or monthly activities around cryptocurrencies.

To keep the community informed, the websites need writers who can write on emerging issues on a daily, bi-weekly or on a monthly basis. However, for you to be paid in Bitcoins for providing writing services, it’s not a must you write about Bitcoin. You also need to have a basic understanding of blockchain/virtual currencies coupled with good writing skills.

How to get Bitcoins by contributing on cryptocurrency forums

Some virtual currency forums allow their top rated members to monetize their activities. This is done by allowing firms to advertise their services or products in the signature of posts by top rated members. One such forum is Bitcointalk. The platform gives a higher membership level depending on one’s activities on the platform.

To start earning through signatures, you need a high membership level which is awarded after contributing more than 120 posts. For the top rated and most active members, earning using post signatures can be roughly 5 U.S dollars per hour.

How to get Bitcoins by reading books

This option utilizes Bitcoin faucets. But it’s unique. Instead of the minute satoshi drips provided by other faucets for performing repetitive tasks such as clicking on advertisements, this is the best way to get Bitcoins reading books. Most of the books provided in such a setting are majorly classic books. If you are interested in classic books such as War of the Worlds, and you have been searching on how to get Bitcoins by reading, then consider this option. One platform that pays BTC for reading classic books is Bitcoin Aliens.

How to get Bitcoins by trading

This option is suitable if you already have Bitcoin and you want to add to it without investing more fiat.

how to get Bitcoins

The risk involved with this option is average compared to writing, reading books or through virtual currency forums. Basically, if you are interested in how to get Bitcoins by trading you must also be interested in predicting BTC price movements using charts, recent news, or even sometimes trusting your gut. You then buy BTC when the prices are low and sell when the prices appreciate. However, this option should be approached with caution and knowledge that you can lose or win.

How to get Bitcoins by gambling

This option may send shivers to those who have tried and lost a fortune. But you if are lucky enough to win by gambling, there are a few Bitcoin casinos that can help you multiply your BTC wealth. Note that this option requires that you initially have some Bitcoins. However, be advised that casinos are not always fair and may sometimes manipulate the result in their favor. Manipulation is done by using a mathematical formula. The chances of losing are very high.

How to get Bitcoins through lending

This option applies to those who already own Bitcoin and involves giving others to use your coins at an interest. Lending is facilitated by websites that interface those in need of BTC with those in need of interest on their BTC. Due to its extremely risky nature, the interest is high.

Final words

If you are searching on how to get Bitcoins either without directly purchasing the coin or increasing your already held Bitcoins, then the above options are your best bet. From our above discussion, it is evident that the risks and rewards involved are dependent on a particular option.

In our above list, lending and gambling are the only options with an extremely high risk of losing your Bitcoin wealth. Therefore, if possible, if you are contemplating on how to get Bitcoins through these two options, ensure you have an in-depth understanding.

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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