Many people are interested in the simple ways on earning bitcoins, so I decided to write a little tutorial, based on my own experience. Here are few easy methods, that will not make you rich fast, but they not require any special skills or investments. Let’s start from:
1) Generating bitcoins in your own computer (mining). All you need to have is PC, if you are reading that, more likely that you alredy have one. How to start the process of generation? It´s very easy – just install bitcoin software at your computer, launch it, right-click the icon in tray, and choose “generate coins” option, and your PC is now miner!
For mining you can use the same computer, you use for work/browsing internet/gaming/etc, or you can dedicate to this process your unused computer(s). First I´ve tried to mine on my personal laptop, that I´m using for work. I travel a lot, and have more than 1 office, so table PC is not for me, and last years I use only laptops. Also I have a habit to open many browser windows, word documents, messengers etc at the same time, so my computer not have so many free resources when I´m using it. That makes mining difficult – I´ve tried to mine in the night, when I´m sleeping, but I´ve encountered with laptop freezing in the morning, probably because too many programs were opened same time. So, I decided to try the other way – use dedicated for mining computer (or computers). I had one laptop in my main office, which was used few times a day to access some websites, nothing more – so I decided to use that one. I´ve started the process few days ago, and at the moment I had not generated anything, despite the fact that laptop was mining 24/7. Point is that new BTCs are generated only in “piles” of 50 coins, right now the bounty is appearing approximately once in 10 minutes, and due to fact that there are many miners around, you have to be lucky to be the “chosen one” who will receive the whole pile… or you have two other options:
- Buy powerful computer(s) and dedicate it for 24/7/365 mining. I had not tried that yet, but probably will break my moneybox and buy 1 or 2 PCs with powerful GPUs (graphic processors that are very useful for fast mining), and will transform them into “round the clock” mining stations (or bitcoin generating machines). Later I can sell that hardware, or use them for gaming for example… Anyway the idea is interesting, so wait for my next report =)
- Become a part of “mining pool“. Even if you have dedicated computers, mining alone is hard… there are many other “money generator” wannabes around, and same as in “gold rush” times, if you can´t make your own team, you´d better join some other party – its harder to succeed for singles in this world… If you are mining in pool, you will have smaller returns – not the whole 50BTC pile at once, because it will be spread among all miners from that pool… but the return will be much more frequent! The only option, that I not like, is that you can´t join any pool without installing special “miner software“. There are different miner software available, but the developers of this software are almost unknown, so I can´t trust them my bitcoins and other information – I access online banks, ecurrencies and payment systems from my laptops, and never install unknown software. You can call me paranoid, but that´s best security feature. If you want to be sure in your security, like me, you´d better install that software to dedicated computers, and send all generated BTCs to your other accounts, that are running at other computers without any “excess” software. Here are the most popular pool operators – Slush, Deepbit and BTCMine, the whole list can be found in wiki
I´ve have to add that generating bitcoins will be especially interesting for persons who have access to many computers at their business or work. For example if you have internet cafe that is not working 24/7, you can try to mine bitcoins in the night. I guess that persons who have free unlimited access to many computers at their work or place of study are interested to try mining at this PCs most of all, just please not forget that electricity costs money and someone will have to pay for it anyway. Also, you have to remember about heating – if computer will generate coins 24 hours a day every day, soon it can start to overheat. So, never try to use let´s say your employers computers without asking permission – you can gain more problems then profit!
When speaking about dedicated computers, we are going beyond the scope of this article (it´s easy ways without investments, remember?), so summarizing the first way of earning I can say, that to succeed you have to join some pool, or wait a long time to become lucky single miner.
2) Bitcoins Bonus – get some bitcoins for free! The idea of this website is in the name – bitcoin bonuses, and all you have to do is just register for free at their website, and check what bonuses are currently available. Right now you can gain bitcoins for the following actions:
- Registering your account. After registration, you can claim your first bonus – 5 doBits (right now it´s worth of 0.01 BTC, in future the rate maybe will grow, so if you will not withdraw this amount instantly, maybe you will gain more). If you´ve just installed bitcoin software, and now you are looking for a small amount of BTC to try how the system is operating, this can be your start – you will receive you first transfer for free, and can try to send it somewhere to see how it´s working!
- Referring other people. This is easy enough, because the registration is free! For every active member (i.e. for the person, who will make account and will claim his welcoming bonus) you will receive another 5 doBits. This is small money, but it´s easy to gain especially if you have some websites about bitcoins or online earning, or accounts on similar forums/social networks/etc. If you not have nothing from this list, but you are interested in the idea – this program is easy to start and earn your fist small coins. After you will understand how to make referrals that way, you can try to participate in more serious affiliate programs, for example the one that is described below.
- Buying something at one of participating merchant. Right now there are some online shops, hosters, domain registrators, VPN providers and even 1 exchanger. I did not seen something that interested me from this list yet, but it´s growing and I think that soon there will be something that will be useful for every user.
3) Bitcoins randomizer (bitcoin HYIP) – I´ve already described it in article “First Bitcoin HYIP” now will shortly remind you its basic features and share some personal experience. This program is not free, you will have to pay 1BTC for participating, but after that you will be able to earn bitcoins two ways:
- Gaining passive income. When a new member is paying membership fee, 50% of it is sending to randomly selected participant!
- Earn by referring new members. Remaining 50% is spreading among the “sponsors”, i.e. persons, who had referred the new participant.
I´ve wrote about the program structure in one of my previous posts about earning bitcoins, now it´s time to share my results. After 3 weeks of enrollment, I had few registrations under my link, and the only thing that I did to refer that people was my article about “bitcoin hyip” in my blog. It´s a new blog, and I´m just starting to promote it, so I guess I will return my membership many many times, when my blog will be more popular. If the price of 1 BTC will still grow, that will be not bad income. But, if you remember why I liked this program, I was more interested in passive income – I guess you will agree that everyone wants to earn money doing nothing… well, I was not lucky in that yet, after 3 weeks I did not received any passive income. We´ll see how long it will take to earn something such “lazy” way, and in order to not get bored while waiting, I will try more active ways to earn bitcoins meanwhile. At least, referral program of this “pyramid” is working, I´ve received my BTCs back to my account already and hope will earn more. I´ve seen that idea of such randomizer is becoming popular, and there are more similar websites available, but this one looks more promising and is really paying, not just promising to pay. I have to add, that you´d better consider earning with such type of websites not like a serious business, but as something like gambling, and be ready that every pyramid can fall one day.
4) “Turn your website into a bitcoin miner (c)” – I´ve described this way of earning bitcoins in article “New way to generate bitcoins” in few words this is a script for installing at your website, that will use computers of your visitors for mining bitcoins for you. I still don´t bring myself to use this way, because I´m not sure that somebody will not add some malicious software inside later (who knows, even if developer is very honest, someone can hack the script). I did not do any serious research of developer background and ways to control such risks, because I don´t have any high traffic websites with millions (or at least dozens of thousands) daily hits. If you are interested in extra income from your websites (and this websites have big traffic), I will recommend you to look more close to this web script, maybe there is a good solution to minimize such risks. If anyone of readers have tried this way of generating bitcoins, you are welcome to share your experience.
It´s time to make a conclusion. If you not have websites with big traffic, and if you are not the one who have many unused computers, you have two basic ways of easy bitcoins earning – bitcoins randomizer, and mining in pool. Bitcoin bonus is interesting to try when you are just starting to use bitcoin, but it have to grow and add more bonuses to become more serious earning tool. It´s hard to say, what will work better for you exactly, so better just give a try! Also, when you´ll earn some BTC, I am not recommending you to outexchange bitcoins to “real” money – bitcoin value is growing fast, and its a good idea to keep them until they will be few times more expensive then now. Just few weeks ago the value of 1 bitcoin was lower then $1, but now every BTC is worth of $20-30! So, if you keep them, your mining or referring of other users will probably bring you some good money! Who knows, maybe in few months the price on every BTC will be $1000? Stay with us, I will post more information about Bitcoin and ways of earning it soon!