Bitcoins are climbing from one high to the next. But not just bitcoins; the majority of altcoins are gaining in value as ever more people, companies, and financial firms jump on board for fear of missing out on some significant gains. You may have already asked yourself: how can I join the bitoin and altcoin craze? Is it worth buying bitcoins, litecoins, or friends? After all, if you don't buy some cryptocurrency now, it may be too late and their prices higher and potential gains even more profound. As they say for dogecoins: “to the moon”. Particularly bitcoins seem to journey ever closer to the moon, the sky the limit.
Today bitcoins are at $14,000 after surpassing the $9,000 mark just a few weeks ago. Nine grand, more than seven times the price for an ounce of gold. Is this the new gold rush that you may be missing out on? Or has the bitcoin price already run its cause and is about to consolidate? If so, it might offer you the opportunity to buy much cheaper.
The problem with cryptocurrencies is: they don't have any intrinsic value, they are, just as most other currencies, driven by the trust people place on their stability and thus how much they believe a currency is worth. Very different from shares that represent a value such as the cash, material, client base, innovations, and equipment including all machinery. At the given price, bitcoins may therefore simply be too expensive for many to join the craze now. If you are interested in how bitcoins actually work and what they are, I'd recommend these articles on what a bitcoin is and bitcoin mining and trading.
Maybe another currency then? Maybe it would be better to put your hard-earned cash in cryptocurrencies such as litecoins, dogecoins, monero, or dash? But all of the older cryptocurrencies have enjoyed steep price increases in recent months and years. Should you mine them instead or maybe opt for another alternative that allows you to earn bitcoin and its brothers and sisters? Let's take a look at the different ways you can earn bitcoins, litecoins, dogecoins, monero, dash and other altcoins.
Mining is an easy way to earn bitcoins, litecoins, and other cryptocurrencies. At the same time, it is these two that are amongst the most difficult to mine today. In order to successfully mine bitcoins and litecoins, but also other coins, you first need to invest a heavy sum of money in proper equipment. Mining bitcoin with CPUs, that is your laptop or PC will process the calculations for which you are essentially awarded bitcoins, is a fruitless endeavor. You won't be able to compete with all the mining farms and professional miners. You could compare mining with your computer's CPU versus professional mining farms to a gold miner with a shovel versus a gigantic digger. It's not a fair battle.
Other coins such as dogecoin and monero are still mineable, but not the grand daddy bitcoin. For any mining operation to be truly successful, you'd be best served to buy some ASIC processors, but they are relatively pricey. With mining thus out of the question for most, what other way is there to earn some bitcoins and enjoy some of the great profits that can currently be made in the world of cryptocurrencies?
Get paid or receive donations in bitcoins:
Ideally: If you have clients, ask them to pay you in bitcoins instead of Euros, Dollars, or Yen. However, reality may be that the great majority of your business clients are not yet familiar with cryptocurrencies or are simply not in a position to pay you in bitcoins. You may be much better off to add your wallet addresses to your website, youtube channel, blog, or other online presence and ask for donations. Get your wallet address for bitcoins, litecoins, dash, and all other currencies by downloading the relevant wallet (i.e., software package) such Multidoge for dogecoin or Electrum for litecoin and bitcoin.
However, get the light versions of the wallets, as they require much less space on your computer and will serve you best for the average use. You can compare the light wallets to your online bank account; only that you are the bank yourself and are in full control over your wallet. You can also get an online wallet such as coinpot.co, however in the past some online wallets were hacked. It is thus much better to be in full control over your wallet and install a light version on your computer.
But what if you don't have your own site, youtube channel, or instagram presence, or simply don't feel like asking for bitcoin donations. There is a third option.
Mine other coins and convert to bitcoin:
As there are still a number coins that are mineable with your laptop or PC's CPU or GPU, you can mine altcoins and convert them to bitcoin through any of the exchanges or many of the available wallets. Coinpot.co, for instance, offers the option to convert four other coins (bitcoin cash, dash, dogecoin, and litecoin) to bitcoin, or vice versa. You can indeed exchange any for another of the five coins. Many desktop wallets have in-built options allowing you to exchange your coins to bitcoins. Alternative you can use an exchange. Whatever your choice, beware of possible transaction fees and the conversion rate, as it may affect the number of bitcoins you will get for your coins. Amongst those altcoins that can still be mined on a regular computer and don't require expensive ASIC processors or whole mining farms are vertcoin, dogecoin, and monero.
Finally, the least cash-intensive, but most time consuming way to earn bitcoins and other altcoins are faucets. From bitcoin to litecoin faucets, monero to dash faucets, dogecoin and bitcoin cash faucets, there are a number of site that will give you a small amount of your preferred cryptocurrency for free. How do faucets work? Your traffic earns the site owners The more often you return to claim, the greater their site traffic and thus the greater the income from advertising revenue on their end. The best faucets that I have found are:
FreeDoge allows you to claim dogecoins every hour. The twist, you can win up to $150 worth of dogecoins. There's a minimum amount you can claim every hour, but it is also possible to gain thousands of dogecoins.
Moondoge allows you to claim every five minutes. It is best, however, to wait for one hour to get the optimum amount. The initial payouts are minuscule, but you are rewarded for your loyalty and can double your money if you only claim once a day over a a longer period.You know those moments you are stuck on the metro, instead of looking at facebook feeds, why not earn some dogecoins.
Freebitcoin allows you to claim bitcoins every hour. The twist, you can win up to $150 worth of bitcoins. There's a minimum amount you can claim every hour, but it is also possible to gain thousands of bitcoins.
Moonbit allows you to claim every five minutes. It is best, however, to wait for one hour to get the optimum amount. The initial payouts are minuscule, but you are rewarded for your loyalty and can double your money if you only claim once a day over a a longer period.You know those moments you are stuck on the metro, instead of looking at facebook feeds, why not earn some bitcoins.
Moonlite allows you to claim every five minutes. It is best, however, to wait for one hour to get the optimum amount. The initial payouts are minuscule, but you are rewarded for your loyalty and can double your money if you only claim once a day over a a longer period.You know those moments you are stuck on the metro, instead of looking at facebook feeds, why not earn some litecoins.
The hottest contender on the block, Moneros. There's also a faucet to earn monero. You can claim every hour and can earn from a few hundredth to a tenth of a monero.
Here you have it. The four ways that will allow you to join the cryptocurrency craze and earn bitcoins, litecoins, and other altercoins.
A side note: when you click on any of the links above, they will help fund Captain-Finance.com. As you know there is no advertising anywhere and the above are referral links.