Earn Bitcoin

Earn Bitcoin

If you want to create easy income streams, learn how to earn Bitcoin.

When I first started buying Bitcoin, the price was at about $700 a coin. Now it’s over $1,200. Buying and holding, I essentially made money sitting on my ass. So this must be what it feels like to make a worthwhile investment. For the most part, I’ve always felt that stocks and other investment vehicles have been excessively overvalued, which makes trying to implement investment strategies like Warren Buffet impractical.

Realizing that there are still huge investment opportunities in crypto-currencies, I also purchased Etherium. When I bought in, it was sitting at about $6 a coin. Now, it’s north of $12. As blockchain technology matures, so will the related opportunities to earn.

While there are still some hurdles that will need to be cleared before we can think of Bitcoin as a genuine currency, it’s on its way. Bitcoin is still pretty volatile. As a result, people perceive it more as something to buy and hold onto, like a stock. Still, there are more and more online services accepting Bitcoin as a means of payment.

I became interested in other ways to earn Bitcoin while abroad. I felt that if there are people out there using it as money, there should be other ways to accumulate it. Here are a few things I’ve found, and while most of them require you to have your own website, it’s not absolutely mandatory.

Supload

This is an image hosting platform that splits the advertising revenue with you in the form of Bitcoin. If you like creating memes or posting naughty images, this might be one way you can earn some coin. For every image you post, there is a link you can use.
earn bitcoin
If you have a website, you can also link back to the images from the platform. To make a demonstration, I’ve linked to my Supload images on this post.

The Sun Exchange

Earn Bitcoin
This company is so amazing in many different ways. By using your Bitcoin to purchase solar cells, you can receive passive rental income when it comes time for them to be used to generate electricity. In return for purchasing the cells, you are paid monthly in bitcoin over a term of 20 years. As of the time I’m writing this post, they have no open projects, but they said they will be accepting pledges for a new enterprise very soon.

Using Bitcoin, we may soon be able to circumvent certain regulatory barriers that kept us restricted from these kinds of investments. I look forward to a future where I can use Bitcoin to make even more micro-investments, benefiting with passive income streams from small investments in new businesses. The fact that Sun Exchange deals in green energy solutions makes the whole prospect even more incredible. Participating in projects through this company is one of the best things I’ve been a part of since I started dealing with cryptocurrencies.

Coinbase

There’s nothing like getting $10 in referral money from Coinbase when you don’t expect it. I woke up one morning to find that I’d made a little bit of money from referring users to Coinbase on this site. But here’s the thing you should note: it’s not just me that benefits. Everyone down the chain gets a kickback of $10 if they bring in more users. Here’s my referral link if you want to get started:

Buying Stuff Online

I feel that this is a very attractive little system, and while having a website was one of the things that helped me secure this income, you can share you referral link pretty much anywhere if you do it right. You should share the link on WeChat, Facebook (if you space out the link correctly), Twitter, anywhere. There is no reason you shouldn’t take advantage of this program if you like to buy and sell Bitcoin.

Local Bitcoin Affiliate

This program doesn’t pay an immense amount, but I feel you’ll make much more doing this than you will attempting to mine coins on your PC or use Bitcoin fountains. When logged into your Local Bitcoin account, click the word affiliate at the bottom of the screen. On the following pages, you’ll get a link that you can share with people on your social networks or websites.

earn bitcoins

After users sign up through your link, you’ll get tiny commissions commensurate with the amount of coin they purchase over the site. So far out of the few users I’ve signed up on the site, I’ve received about $0.60 cents in passive income.

Other Affiliate Programs

If you have a website or microblog, I recommend checking out some of the affiliate programs listed over at 99Bitcoins.com. Their list of bitcoin affiliate programs is pretty extensive and the rest of the website is pretty excellent too: https://99bitcoins.com/get-earn-bitcoins-massive-list-of-bitcoin-affiliate-programs/

Conclusion

The reason earning Bitcoin is such a great idea is because I believe that the currency is still wildly undervalued. Because it’s decentralized and omnipresent, it can’t be messed with the same way FIAT currencies are. People have been slow to adopt, but the tide is shifting. As of this month, Bitcoin broke a record high on price. I have a feeling whatever Bitcoin you can accumulate now will pay dividends in the future.

I will continue to update this guide as new opportunities become available.

Buying Bitcoin in China: a Step by Step Guide

Buying Bitcoin in China is Easy.

Part 1: Buying Bitcoin

关于中文版,点击此处
There is more than one way to do this. I’m only going to explain what I’ve done to buy Bitcoin with RMB and move hundreds of dollars out of the “guo.” If there’s someone reading this that has found a better process or service, I would love to hear about it.

Just a quick note before I go into this: Bitcoin is not FDIC insured, and the price fluctuates often. So it’s up to you to do your homework to ensure these different exchanges don’t erode your wealth.

If you don’t know much about Bitcoin, this is one of the best tell-me-like-I’m-five guides: http://www.coindesk.com/bitcoin-explained-five-year-old/

Buying Bitcoin in China

When I was researching this topic, I found this guide about buying Bitcoin in China: http://www.tutorialgeek.net/2014/03/how-to-use-bitcoin-to-transfer-money.html

The problem was that the company recommended (BTCC) is no longer available to American nationals like me. They are still in the process of getting the licenses necessary.

I had to find another way to make the purchase, exchange the coin for dollars, and then transfer the cash to my U.S. bank account.

Here are the steps:

1. First, you need to have a way to pay electronically for the Bitcoins, be it bank transfer, Alipay, or WeChat wallet. If you don’t know how to get your WeChat wallet set up, you can take a look at my previous post.

2. Next, you can go to Local Bitcoins and check the listings. Just a quick note: If you’re in mainland China, you’re going to need a VPN to register on the site. For more information on VPN recommendations, you can go here

After you register and verify your email address, you’ll see “Quick Buy” selected at the top of the main page. Change the currency to in the box to CNY. Now you’ll see all the people who have Bitcoin in China who are looking to sell. In the middle column, you can see what kind of payment they accept.

I’ve noticed when visiting Local Bitcoins, I’ve had some difficulty selecting CNY as my currency of choice and China as the country I want to do business in at the same time. Wierd bug. To circumvent this, I’ve found that after selecting CNY as my choice currency, I can scroll down to the drop-down menu that reads “Show more…”. From there, I can select “All in Chinese Yuan”, and all the sellers will appear in a list like normal. As of 5/25/2017, everything has been functioning perfectly again. 

Buying Bitcoin in China

You’ll find that if you purchase larger amounts, say over 10,000 RMB worth, you’ll get better rates. I recommend testing it out first by buying and transferring about 500 RMB, just to build your confidence.

Note: Some people get scared off by the price when they see how much they’re paying over the market rate. Take notice that every region has a different rate. To see China’s rate, run a search on Google, “BTC to CNY”. You’ll notice that all of the prices on Local Bitcoins are much higher than that. To get some perspective, you must also look at the rates on the sellers’ page. You’ll find that they’re not only are people selling at well above the market rate, they’re also buying back at higher prices.

After deciding on a seller and making sure you have the means to pay them, make sure that you check their ratings. By clicking on the name of a trader, you can take a look at their history and how many coins they’ve traded. Everyone you do business with should have a 100% feedback rating.

buying bitcoin in China

3. After deciding on a seller, click the “Buy” button at the end of the row. Then enter how much in Bitcoins you want to buy into the CNY field.

Buying Bitcoin in China

Note: You can buy ANY amount of Bitcoin. Many people are scared away by the prospect of buying Bitcoin when they see the price of one coin and think, “I can’t afford that.” You don’t have to buy a whole coin! If you want to buy 300 RMB worth, you can! 

Buying Bitcoin in China

After you hit the “Send trade request button,” a notification will be sent to the seller that they’re in business. In the next window, the seller will respond. Each time they send a message, you should get a message directed to your email.

4. After they’re ready, it’s time to pay the seller. If you want to pay via WeChat, you can add their ID into the contacts field and transfer the CNY. As soon as you’ve made the transfer and the seller accepts it, make sure you click the button on the site to report that the seller has received payment. At that point, the seller is obligated to release the coin to your account.

5. After the seller releases, and you see your Bitcoin number in the upper right, make sure to thank them. Give them a trusted ranking. If you’ve had difficulty with any of these steps, either leave a comment below, or send me a message here. I’m happy to help.

Part 2: Sending Money Home

These steps will differ depending on your country of residence. I am an American, so what I tend to do is send the money back to my Coinbase account connected to my U.S. Bank Account. But you don’t have to. You can also simply turn around and sell your coin for the currency of your choice through Paypal (or any of the other payment methods included in the LocalBitcoins drop-down menu). Edit: Actually, I DON’T recommend selling through Paypal. It’s too easy for someone to ask for a chargeback and scam you out of the money while keeping your Bitcoin. Transferring to Coinbase and selling is much safer. 

If you decide to open an account at Coinbase, make sure you follow the necessary procedures described on the site to secure your account. After signing up, it will take a few days before the service is available for use. Here is my referral link to get established at Coinbase:

Buying Stuff Online

On the Coinbase main page, you’ll see in the upper right a link that says “Get bitcoin address.” You can copy/paste that long string of letters and numbers back into your “Receiving Bitcoins Address” on LocalBitcoins.com. After clicking the blue button that reads, “Continue,” you’ll get an email notification if the transfer is successful.

Buying Bitcoins in China

After the money is in your Coinbase account, you can either sell it or hold it as an investment by transferring the coin into your Bitcoin vault.

 

Part 3: Selling Bitcoin in China

Let’s say you’re running low on the cash you need for food other utilities while in China. You can easily buy Bitcoin with a credit card or debit card through Coinmama (Check the “Buy Bitcoin” widget in the lower left corner of this website), transfer the Bitcoin to Local Bitcoins.com and then sell it for RMB.

Selling BTC on Local Bitcoins.com is about as simple as buying it.

If you’re already registered on the site, you can click “Quick Sell” at the top of the main page. After selecting China and RMB, you can take a look at the listings below until you find a rate and a payment method you agree to.

Buying Bitcoin in China

Click “Sell” and you’ll find a similar menu to the buy one you’ve seen before. Enter the amount of money in Bitcoins and then click the green button. You can send them your contact information, whether you want the buyer to send you payment through WeChat or Alipay.

buying bitcoin in China

After the money is confirmed in your account, all you have to do is click “Release Bitcoins,” and the money in your LocalBitcoins wallet will be transferred to their account. Give them a trusted rating.

Conclusion

And there you have it. You now know of a way to circumvent a time-consuming day spent at the bank by conveniently exchanging money in the privacy of your home. I hope you found this guide helpful. Let me know if there’s anything I should clarify better.