[2018] Earn Bitcoin: Best 7 Ways Without Mining
If the price of bitcoin drops, but you don’t have any money to invest until payday, you’ll be happy to know that it’s possible to earn bitcoins online. Most people will tell you that mining bitcoins is the most profitable way, and in theory they are right.
However, mining is not as accessible as it was a few years ago. Mining now requires expensive and advanced hardware, a ton of technical know-how, and the patience to create even a tiny fraction of a coin.
But there are better options available to earn bitcoins online, without having to mine.
Here are the most profitable ways to earn bitcoins online without mining.
Work For Your Bitcoins
1. Find work on Coinality
Pros: Best job bulletin out there for bitcoin enthusiast.
Cons: None
If you are looking for full time employment, Coinality is an active job board where you can find companies that will pay you in bitcoins. Most of the companies are startups in the bitcoin space, so they are looking to find someone who is passionate about Bitcoin and cryptocurrency, and with exceptional skills.
Most of the jobs are remote, so that greatly expands the options available to you during your search. However, there is often an imbalance of positions and jobs available depending on what skills you possess. The jobs that are most prevalent and pay more usually require skills in high demand, such as full stack developers, software engineers, or graphic designers.
All the listings on Coinality are companies looking to hire. You also know at a glance whether they are hiring full-time, part-time, or one-time, so you don’t have to waste your time reading job descriptions for irrelevant jobs.
You can also upload your resume to have companies reach out to you, which I highly recommend doing. Some companies will go through resumes before they even consider posting a job, so its a great way to get your name out there.
Coinality also serves as an aggregator for bitcoin jobs on other job bulletins, so you are covering a lot of ground by checking them out.
One thing to note:
Just as you would on Glassdoor or Indeed, you should vet these companies before accepting work. Since Coinality doesn’t vet companies first, it’s always good to do your homework.
In order to avoid working with these companies, I suggest:
- Look up information about them on Crunchbase and Linkedin.
- Find any PR on the company. Crunchbase has a PR section, but a simple search on Google will produce better results. It isn’t a deal breaker if there is no PR, but positive PR is a good sign.
- Look at their employees on Linkedin. Do they seem credible, or do their accounts look fake?
2. Earn Bitcoins on Reddit
Pros: Great for freelancing, and finding jobs that might not be on Coinality.
Cons: There are scammers here, so vet carefully.
Another great way to earn bitcoins online is finding work on the Reddit Jobs4bitcoins bulletin. It is another favorite in the bitcoin community, since it is by far the most active of all bulletins. Other bulletins have a few postings per week, but Reddit continuously has new postings per day, many of which, are not aggregated on Coinality. Postings are separated into three categories.
- People looking for work, titled: [FOR HIRE].
- Companies looking for work: [HIRING].
- Bounties:[BOUNTY] (More on this in the next section.)
Finding work on here is definitely possible, but it takes significantly more time than Coinality. For every post of a company looking to hire, there are about 5 other people looking to get hired.
Generally, I use Reddit for freelancing only, and would use Coinality if I was looking for full-time work. Most of the postings on Reddit are freelance gigs, and there is a seemingly never ending supply.
Still, you can find your dream job on here if you check often.
3. Answer Bounties to Earn Bitcoin
Pro’s: Bounties are often repeatable.
Con’s: Finding bounties that compensate in bitcoin are harder to find.
Avg. Payout: Varries depending on task.
Bounties are a popular way for companies, specifically ICO’s, to market their product or upcoming token. Usually they need a problem fixed, help acquiring new customers, or promoting an ICO.
Rather than negotiating before hand on terms and conditions like you would for freelancing, bounties are open to the public. Whoever finishes the task at hand gets compensated. Similar to how bounty postings in the old west used to work.
Some bounties are one time only deals, such as fixing a bug, so who ever completes it first is the only one who gets compensated. However, most bounties are repeatable, such as bringing in referrals or promoting their product on social media.
Generally, most bounties will compensate you in alt-coins as opposed to Bitcoin and Etherium. Companies that compensate in bitcoin are highly competitive, but are still possible to find.
The payout varies depending on the task required. Higher skilled or more urgent jobs will pay well, and it isn’t unreasonable to assume you could earn $500 — $1,000 a month in bitcoins from bounties.
That being said, the payout varies depending on the job. Some bounties can be worth only a few dollars, whereas others can be thousands of dollars. Hell, there is even a 10 million dollar bounty open by Binance to catch hackers.
As mentioned previously, the Reddit Jobs4bitcoin has a few bounties available. They are few and far between normal job postings, but Reddit makes filtering them easy with a simple search. Bitcointalk’s service section generally has more bounties open, but they are often exclusive to high ranking members.
4. Write to Earn Bitcoins on Yours.org
Pro’s: Write content on your own schedule.
Con’s: No guarentee on ROI
Avg. Payout: $20–$30 per piece if you’re good.
If you are a good writer, you can earn bitcoins online by uploading your content on Yours. They are a great medium that allows content creators to upload their content in exchange for bitcoins, so long as the content has value.
All you have to do is upload your content on Yours, and you can set the price to view that content in its complete form. Usually, most content is only 10–20 USD/cents, which might not seem like much, but keep in mind that does add up the more people purchase it.
Other users can also vote for your content to be rated as high quality for 25 cents if they really like it. Votes serve as good social proof. Consumers also can comment on your article for 10 cents.
If you are a good writer, you can earn around $20-$30 per piece of content from a combination of “purchases”, votes, and comments made by other users.
This is great for writers who can’t devout too much time to freelancing, and just want a quick and easy way earn coins. Since you work on your own schedule, you can just pick it up whenever you have free time… no commitments needed.
5. Earn Bitcoins by Responding to Messages
Pros: Get paid just responding to messages.
Cons: Only good for people with perceived value.
Avg. Payout: I’ve heard up to $900 a month
If you’re a thought leader or a decision maker, you should sign up for earn.com. They provide a platform on which people will pay you to respond to their messages, which can be redeemed in bitcoin.
Usually, users are looking for advice on something that you are regarded to be an expert in, or they have something they want to pitch to you. It is a really cool way to earn bitcoins online.
Depending on who you are, you could actually earn pretty big on the site:
CEO or founders: $40 per reply
VC’s: $100 per reply
Angel Investors: $40 per reply
You can get paid for taking surveys, but they usually only reward around 50 cents per survey.
This is a great way to earn bitcoins online if you’re someone that everyone wants to talk to, but not for the common man. It’s not a worthwhile way to earn bitcoin if you’re taking a survey for a tiny fraction of a single bitcoin.
6. Accept Bitcoin Payments for Your Business
Pros: A Wallet for your business.
Cons: Only good for business owners.
If you own a business, you could start accepting bitcoins as payment with bitpay. It serves the same function as a virtual wallet like Coinbase, but with a focus on business transactions.
Bitpay also is one of the fastest payment portals for bitcoin, Thanks to 0conf payment processing. That means that your business can accept small payments without having to wait for a confirmation text message.
7. Purse:
You can also take part in the Purse affiliate program, and earn 10% in affiliate fees for any customers you bring. Please contact Jordan [at] the domain you’re reading on now for more information.
Watch Out!
You should generally avoid these ways to earn bitcoin online.
Cloud Mining
I’ve heard people pitch cloud mining as a way to earn bitcoins online. The idea is that you throw money into a pool, and the pool will become a team that mines bitcoin for you.
Your investment will help pay for electricity and hardware that will be used in the mining, while you “just let your money work for you.”
The problem is that mining has become so difficult at this point that even if you did find a cloud mining syndicate that was legitimate, there is no guarantee you could turn a profit on the venture. You are just better off investing your fiat directly into bitcoin.
Bottom line: Cloud mining is very high risk with low reward. Stay clear. Even Google has banned Chrome Extensions that mine for you.
High Yield Investment Programs
These programs should be avoided.
They offer guarantees on ROI, ranging from 5% to 50% every day if you deposit with them. Some people will tell you that if you sell your investment before the collapse, you’ll make money, but that’s a poor strategy.
Like a typical ponzi scheme, the goal is to get as many investors on board as possible, and pay off your old investors with the new money.
Bitcoin Lending
Again, this is a “put your money to work” scenario with the promise of 20–30% ROI.
The problem is that big sites like bitcoin jam have found that it’s very difficult to manage these types of transactions. They were forced to closed as a result.
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