Bitcoin is a form of digital currency, created in 2009 by anonymous software developer Santoshi Nakamoto. It also caters to International payment which is made easy and cheap as bitcoins are not tied up to any country or any currency unit. It has no credit card fee so it attracts more individual to do transaction using this currency. It is a new payment system and is digital. The payment is digitally created by a community of people and anyone can join them, they are “mined” using computing power in a distributed network widely. Bitcoins are based on mathematics, wherein a set of individual creates bitcoin with a mathematical formula
It is the first decentralized payment wherein there is no middle man involved nor any banks. The payments are much easier than debit or credit cards and can be used without a merchant account. Payments are made with a wallet application which can be downloaded either on a smart phone or a computer. A bitcoin cannot be controlled by an individual or an organization. Bitcoin can be used to purchase materials from online or even stores. It attracts illegal business as well.
How to Earn Free Bitcoins
Many websites offer many options of earning free Bitcoins. All you need to do here is invest a small amount of your time, visit websites and answer some of their questionnaire. The time invested is comparatively small and is similar to watching TV, the difference being you earn something in return for just watching.
Some websites that offer free Bitcoins are listed below
BitVisitor offers free Bitcoins for just watching videos or browsing through websites. Although the total amount of bitcoins earned is very low in the beginning with time and accumulation you would be able to see a handsome amount which can be useful. Well, you however are not investing much here.
This is a reward program where you get to earn rewards in Bitcoins every time you make purchases in Bitcoin. It is easy to earn in this site since you are not required town a user name and can enter your Bitcoin address and earn Bitcoins.
This site lets you earn Bitcoins for doing some tasks, mostly analytical in nature. You are required to have a user account to earn in this site. Comparatively the pay in this site is higher.
Earning Bitcoins from Interest Payments
This is for people who already possess some Bitcoins, you can earn more Bitcoins as interest.
- Direct Lending
You can earn interest from lending your Bitcoins to people whom you personally know. This comes handy as a good passive income, just be careful to lend to the right person.
- Peer to Peer lending
Bitbond – an option of Bitcoin lending through website listings giving you the freedom of peer-to-peer lending. Borrowers post their requests which you can contribute, either in small portions or in whole. This is very mush similar to cash lending and you would be repaid with interest.
A point of caution that needs to be taken is to choose a trustworthy site for lending to borrowers. Go through the credentials of the borrower thoroughly.
Bitcoins are a great way of passive earning and you can earn without doing much hardwork.