Bitcoin is the pioneer in cryptocurrency and also a popular figure in the currency for its exchange value. After the emergence of Bitcoin there came many others such as Etherum, Litecoin etc but none has surpassed the value that Bitcoin maintains. Even though there is a drop and high in its life, it didn’t come below too much that other coins defeated it. So let us look at ways through which we can earn bitcoin.
Bitcoin came to life in 2008, when a group of Japanese people created this cryptocurrency. It was an entirely new form of currency where there is no physical existence. While digital money or cash-less transactions have cash in some form, cryptocurrency does not have such a thing at all. This digital currency is made possible with a set of cryptographic tools that helps to mine the currency. Unlike traditional currency, there is no set restriction to the overall circulation of the currency.
Ways of earning Bitcoin
Bitcoin is in much demand among the people and especially among the young and technology enthusiasts. This is also made possible by the people who promote this currency through offers and other promotional ways. In general, there are two ways of earning Bitcoin.
- Buying the coin: Buying cryptocurrency is similar to buying any other product from the market. Here, you use the traditional currency in exchange for cryptocurrency. This exchange happens in currency pair. Like in forex, you have to buy cryptocurrency against another currency online. Being said that, let us make it more simplein terms of the actual steps.
The priority to earn bitcoin cryptocurrency is an exchange that is nothing but the facility which enables you the exchange. For an exchange to happen, you should open an account, give your credentials, verify it and once over it is time to buy what you are in search of. The most popular currency pair for the exchange is USD/BTC.
- Free coin: Another way is through a faucet. Bitcoin faucet allows you to complete a task hourly and earn cryptocurrency. Initiated to generate a wide audience for Bitcoin, it slowly became the medium for Bitcoin earning.
Bitcoin has gained much popularity compared to other cryptocurrency options and so does people started to own it. While currency exchange is one method, they can also do it by using a Bitcoin faucet wherein they get free currency.