How to make Bitcoin has always been what everyone wants to know, regardless of its earning source and they are also many tasks to be done since the massive growth of Cryptocurrency.
After studying Bitcoin and experiencing it’s fast increase in price last year, people came up with the idea of practicing the long term investment which is making money through buying Bitcoins at a current rate, then wait to sell when they is a high rate.
But then I think the long term investment is not applicable right now, due to the massive fall of the BITCOIN and other cryptocurrency.
If you wish not to exchange the Fiat money for cryptocurrency and bear the risk of losing it when the price breaks down, there are varieties of means for you to earn cryptocurrencies from the beginning and when you need them you exchange for fiat money.
Lots of articles have been published regarding how to earn cryptocurrencies honestly. Countries like Japan, China and other countries, even beggars in the street are sitting with mobile phones demanding for people to give them a thousand or two Satoshi using QR code.
Major options on earning cryptocurrencies honestly
1) Ensuring the functioning of the network
Personal mining based on PoW (Proof-of-Work.)
Earnings with the help of PoS Mining (Proof-of-Stake.)
Creating master nodes.
Creating pools, software for mining and pools.
2) Social activity
Participation in forums and earning crypto with paid signatures, avatars, posts, profile web links.
Cryptocurrency cranes and faucets.
Participation in Bounty and Airdrop projects.
Participation in referral programs and driving leadsclients to different projects.
3) Trading on online exchanges
Creating and selling trading bots.
Creating exchange services.
Driving referral traffic to exchanges.
most people don’t have interest towards the honest earning and people now wants to commit crimes in the stake of making money.
Read related post: 7 Reasons Why You Should Own Some Cryptocurrencies
Top dishonest ways to earn cryptocurrencies
1) Phishing websites has been more profitable in earning cryptocurrencies, creating a site linking to your google AdWords, users can be visiting the site without knowing about it, then you can take some malicious information about them and access their accounts, Ukraine users made $50 million from phishing websites
2) Extortion Viruses works out too, creating and distributing them will get you some ransom payment made with Bitcoins. Victims most times are found through mass email spam campaigns.
3) ICOs are another way of earning BTC, launching fraudulent ICOs, then collect the money but the project will not be implemented.
4) Launching financial pyramids and Ponzi schemes. There are even automatic pyramids working on smart contracts.
5) Blantant deception with the help of social networks, People working with fake social accounts on Twitter.
Numerous fake Twitter accounts have been created recently. Elon Musk impersonator claims he will donate 1 ETH to every person who sends him 0.2 ETH.
6) Impersonation of members of certain blockchain projects, and sending fake emails on their behalf about fake token sales at discount prices to interested people. This often happens right before the official ICO.
7) Cryptojacking – websites being infected by hidden miner programs that mine cryptocurrencies using the resources of website visitors or using the resources of hacked equipment. Sometimes crooks create very big crypto mining botnets.
8) Hacking online exchanges and wallet services. For example, criminals stole the secret keys from the Mt. Gox exchange. Hackers just copied the wallet.dat.
9) Creating viruses that substitute the wallet addresses when you copy it to the clipboard. There was a case when the address of the wallet was changed not by a malicious program, but by the TOR proxy site.
11) Personal trading on the exchange using your client’s or employer’s crypto assets. For example, this Chicago trader has been charged with fraud after stealing hundreds of Bitcoins from his employer.
10) Physical theft. This happend In Thailand, a young couple was attacked by fake Interpol agents who forced to pass them the secret keys. In Ukraine, a man was kidnapped and had to pay the ransom in return for his freedom, so be safe with your details.
In conclusion earning BTC is also by getting a fresh format that you think will fetch you more earning if you think you can’t or doesn’t understand how to go about the about options you can create your own way by yourself.