5 Best Ways to Earn Bitcoins in 2019: How to Earn BTC Guide

  • Vera Thornpike
    📚 WikiCoin

    Want to earn Bitcoin online without breaking a sweat? Here are five simple ways to earn BTC in 2019 and multiply your riches.

5 Best Ways to Earn Bitcoins in 2019: How to Earn BTC Guide
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The king of cryptocurrencies, Bitcoin, is still a tasty morsel for crypto enthusiasts. Even despite the bearish trend, 1 BTC isn’t cheap: it costs around $3,500. Want to add some Bitcoins to your portfolio but don’t know how? Here are five interesting ways to make Bitcoin.

1. Earn Bitcoins by using your skills

If you believe that free cheese is only found in the mousetrap and prefer earning Bitcoins with your hard work, there’s a myriad platforms to help you with that. No matter who you are, you can easily find a suitable job online. Below you can see services offer Bitcoins in exchange for your work:

It’s simple: you create a Bitcoin wallet and register on such website. Perform tasks and earn BTC.

2. Trading: the best way to earn Bitcoins having investment capital

Sounds absurd, but another efficient way of BTC earning is selling. Although it sounds simple, this method requires a lot of attention, basic economic knowledge, and analytical skills. The principle of this method is buying cryptocurrency while it’s cheap and selling it at some significant price spike.

Saying that trading Bitcoins is equally efficient for everyone would be a lie. No, trading is not for the faint of heart, especially Bitcoin trading. It works quite well if:

  1. You do your own research and do not take uninformed decisions. Relying on one’s knowledge is better than intuition.
  2. You are not a panic seller. This is the most common problem among investors: as soon as Bitcoin falls by a few percent, they sell it instantly being ruled by fear of loss. Sometime later, the currency price rises and they’re left with nothing but regret. Don’t be like that. Patience is a must for successful Bitcoin earning.
  3. You’ve got money you can afford losing. If you spend the last penny, the panic sale is unavoidable (see point 2).
  4. What to start with? You can take a close look at the preferable cryptos and monitor them closely, then start exploring various exchanges. The most highly recommended platforms are:

If you get lucky, you will earn Bitcoin fast. If you’re a newbie, start with Binance – it has a comprehensive interface and simple tools. As you gain experience, move toward more advanced crypto exchanges for tech-savvy users.

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3. How to earn free Bitcoins? Lend money!

Sharing is caring. And if you preferred keeping your Bitcoins, maybe it’s time to change the strategy? It can appear to be profitable. There’s a myriad of P2P Bitcoin lending platforms allowing you to get free Satoshi without much effort. They offer a generous 12%-18% ROI in the form of BTC.

But before you rush to share your tokens, please analyze and monitor the platforms. This sphere is totally unreliable: the risk that borrowers can disappear with your money is very high. Select the borrower carefully and read the platform policies to ensure they take care of user safety.

 Bitcoin lending website interface: bid list
BitBond BTC lending platform interface

Alternatively, you can lend BTC directly to some of your acquaintances. This way, you exclude third parties, and you both agree on the interest rate. The main drawback of this way is that, most probably, you can’t boast having friends who: 1) Know what BTC actually is, and are truly interested in the Bitcoin earn / buy / sell process; 2) Will meet your requirements. Anyway, it’s a nice option for earning Bitcoin.

4. Knowledge is power

Friends call you a human encyclopedia? Do you like helping people? Then make it your best way to earn Bitcoin! This approach is very unusual and quite a new one, but no financial investments are needed. You should conduct proper research – that’s it. Bitfortip is a website and application that pays in Bitcoin for helping people by giving them pieces of advice or answering their questions.

There, people can ask for anything, and users proposing their answers are given a Bitcoin reward for help and information. The platform is already available in 11 national languages, and any person can join it.

Practice shows people might have weird or unusual requests:

On Bitfortip, people have pretty fancy requests
On Bitfortip, you can earn BTC for helping people

So if you want to get BTC without breaking a sweat, consider this platform.

5. Faucets: earn Bitcoin easy-breezy

One of the ways to earn Bitcoins is doing minor tasks. Bitcoin faucets are the right spot for that. Wonder what it is?

Bitcoin faucets are apps or websites that make minor Satoshi rewards for users. Visitors need to complete tasks listed on the website. Some faucets also provide altcoin tips.

What kind of tasks do users usually perform? They solve captchas, play games, click on ads or watch videos. For every task done, they earn Bitcoin.

One of such faucets is Bittube: there, you earn Satoshis for viewing YouTube content. Other popular Bitcoin faucets can be found here.

Is it an efficient way of earning crypto? Well, it’s not profitable for people who have a normal job. The reward is so minor that it’s hardly worth your attention.

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Bonus: Casinos and sweepstakes

Sincerely, I’m not into gambling – this is too risky. However, if you ask me how to get free Bitcoins with maximum joy and fun, playing slots would be the most evident answer.

Bitcoin casinos work exactly the same way as regular online casinos do. They offer various slots, roulettes, poker, and other games. You add funds to your account (Bitcoins, of course), and play. That sounds like one of the simplest ways to earn Bitcoin, but do you consider yourself so lucky?

We all know that blockchain-based dApps and smart contracts eliminate the risk of data forgery, but here’s the trick. Blockchain-based casinos and Bitcoin casinos are not necessarily one and the same! It means, a regular online casino can implement Bitcoin payments, but it doesn’t mean there’s blockchain technology underlying the platform. Therefore, you cannot be sure that the game is fair. Oppositely, blockchain-based casinos can operate smart contracts and use traditional fiat currency for payments, though they are supposed to be more reliable for players.

We will not mention Bitcoin casinos here – if needed, you can monitor the Internet and do your own research.

How to get Bitcoins for free if you rely on your luck but don’t like gambling? Try the FreeBitcoin website: it offers a Bitcoin lottery. Registered users can participate every hour and try to win BTC worth up to $200. All you need is to enter a captcha check and roll the roulette. Depending on the number displayed, you earn some minor or average amount of Bitcoin. Of course, most times you get a few hundreds or thousands of Satoshi (which is even less than $1). However, there is nothing to lose, and such method to earn Bitcoin online seems to be unoffending.

You can claim free Bitcoins by playing lottery – an easy way to earn Bitcoins

Is mining still relevant?

Many people still believe that BTC mining is still the easiest method of earning crypto. Practice shows it’s already not profitable for a regular user. The difficulty of computations has risen so much that a usual mining rig is not enough for making any substantial profit. Even if you buy a juggernaut ASIC and join a mining rig, no one can promise it’ll compensate your expenses.

If several years ago, smartphone and computer mining would earn real Bitcoins, today this method is not as profitable as before. Probably, if you have money to spare, traditional crypto trading will make you more money.

Bottom Line

How to make Bitcoin online? There are a few interesting ways to earn Bitcoins online – all differ. Some of them are quite risky. But while the profitability of gambling totally depends on your luck, trading is something that requires knowledge. You must have enough experience to understand how to get Bitcoin via trading.

No matter which strategy you prefer, you should always double-check the platforms where you are going to buy or earn Satoshi. Make sure that you work with reliable websites that make fair payments and provide agreeable conditions. Reviews and feedbacks will help you make the right choice.

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SegWit Explained: What Is Bitcoin's Segregated Witness?

SegWit Explained: What Is Bitcoin's Segregated Witness?
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Segregated Witness (SegWit) is an implemented protocol update that solves the problem of the Bitcoin’s blockchain transaction malleability. The point is in one of the transaction components. The first part is the Basic information (the sender, the amount, the recipient). And the second part — Witness — carries a special cryptographic signature (code). This code is a confirmation of the virtual transaction in Bitcoin currency.

Witness’ signature creates difficulties for the blockchain because the form can be changed after the appearance in the block. Bitcoin will still reach the addressee, but the construction of new transactions will be complicated because they all go along the chain. Unconfirmed transactions slow down the speed of new ones, reducing the overall Bitcoin network performance due to pulling data from a past virtual transaction.

The current Bitcoin protocol makes it difficult to implement large-scale updates, as well as to conduct fast transfers. The problematic network feature is called the “transaction malleability”. Against this background began the movement for the introduction of SegWit.

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The goals of SegWit

Segregated Witness must restore the Bitcoin network and adapt the blockchain technology to new realities. The main task is to solve transaction malleability and scalability. SegWit optimizes the transaction process and creates conditions for the subsequent increase in virtual block size. SegWit has to solve such problems and questions:

  • If Witness signature is segregated from a block of Bitcoin increases size and bandwidth of the entire network.

  • The transaction size is reduced by 2 times.

  • Reducing the blockchain size, which saves disk virtual space for nodes.

  • Starting and synchronization of nodes speed up significantly.

  • The enhanced spam protection mechanism of Bitcoin currency.

It follows that SegWit addresses the most important aspects for Bitcoin: scalability, protection level, transactions speed, and interaction with new protocols.

The story of Segregated Witness

The first talk about the need to modernize Bitcoin’s protocol and about possible ways to solve the transaction malleability problem appeared in 2012. Bitcoin-Core developers Russell O’Connor, Luke Dashir, Gregory Maxwell and others became initiators. Active actions for the currency began in the summer of 2014, when Maxwell, Pieter Wuille and cryptographer Adam Back launched the blockchain research company called Blockstream. In this environment, they found a solution to Bitcoin’s problem. It was decided to separate special cryptographic signature from the main part of the transaction. They called this function Segregated Witness.

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In parallel with Segregated Witness, the idea of ​​optimizing Bitcoin’s blockchain by increasing the block size (the default is 1 megabyte) appeared. It could be realized only through a hard fork — a rigid network separation through the introduction of changes incompatible with the current protocol. SegWit, on the contrary, was a soft fork or partial update of Bitcoin’s protocol. To implement it, the Witness’s signature must be segregated in a new part of the virtual block. And its anchor (Merkle Root) recorded in the transaction of miners’ fees. As a result, more space remained in Bitcoin’s block, and its size increased without actually increasing. This result allowed us to solve the problem of the Bitcoin network scalability, which was also quite acute.

After the appearance of the second idea, a real war broke out, including among the developers of Bitcoin currency. Miners and pools couldn’t come to a consensus from 2015 to August 2017. As a result, SegWit was accepted and activated. A special code called BIP91, developed by Bitmain engineer James Hilliard, turned out to be the best compromise among all the proposals received over several years.
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The main advantages of Segregated Witness

The list of benefits which will be received by the Bitcoin network with the introduction of SegWit is very large, we focus the main ones:

  1. The third party will lose any options of signature’s changing, which will facilitate the development of new smart contracts.

  2. Dividing special cryptographic signature from Basic data will significantly increase transaction size and Bitcoin’s blockchain bandwidth, and the average virtual block size will be 1.7-2 MB.

  3. With Segregated protocol, transactions in Bitcoin currency will remain available to participants who have accepted SegWit, and those who refuse to do so. At the same time, users with an updated protocol will work with smaller commissions.

  4. The adoption of SegWit greatly simplifies the implementation of new soft forks, allowing to introduce new ideas to improve the security of Bitcoin currency.

  5. The block validation rate and transaction security will increase due to a change in the signature hash function from linear to exponential.

  6. A segregated signature will reduce the currency’s charging fees.

  7. SegWit will have a positive impact on the Bitcoin ecosystem here and now, as well as create a springboard for further development.

Arguments against SegWit

Even today, Segregated Witness is not fully accepted by the Bitcoin network. Sceptics believe that this will take years because the number of nodes has already exceeded 10,000. An increase in the number of participants and a virtual transaction will result in a Bitcoin’s block size of 2 MB is small for the needs of the ecosystem.

Partial centralization of Bitcoin’s system due to the implementation of the SegWit protocol will increase the number of unconfirmed transactions, which will strip the network and make currency vulnerable to hacker attacks.

Some Bitcoin developers and pools believe the adoption of SegWit is dictated by the economic gain of Blockstream, which owns the Lightning Network protocol. Its technical implementation in the Bitcoin network without Segregated Witness is almost impossible.

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Will the time come for SegWit2x?

Speaking about the implementation of Segregated Witness and Bitcoin currency, it is impossible not to mention the postponed indefinitely SegWit2x. The agreement was the result of heated discussions and a search for consensus. It was decided to make a hard fork, after which the block size should increase to 2 megabytes. The split was scheduled for mid-November 2017. In fact, Bitcoin would split into two networks with its own coin, rules, signatures and standards.

However, the idea was not destined to come true. Firstly, the negative attitude of the developer community and the launched NO2X campaign did not play into the hands of the “Segregated” protocol. Secondly, BIP91 was implemented earlier and it was successful.

As a result, on November 8, 2017, the complete closure of the project was announced. But there were people who positively evaluated the results for Bitcoin. For example, the head of, Peter Smith, who initially supported the Segwit2x idea, spoke as follows:

“We’re relieved. The goal of the NYA was to bring the community together and keep the majority of the users on the same chain for at least a little while longer.”

SegWit usage metrics
Image by 123rf

Results for Bitcoin and blockchain

From the moment of implementation of Segregated Witness, a year and a half has passed, but the protocol is not accepted by 70%. Many large services have not yet implemented it into their processes. However, positive changes are already visible, especially for ordinary users. Now the average transaction cost with confirmation within 20 minutes, according to Bitcoin Core Fees, is estimated at 5 satoshi/byte, that is, about $ 0.08 for the entire virtual transaction.

Spam attacks on the Bitcoin network have also stopped, the mempool remains free, and the average block size has exceeded 1 MB. In addition, the activation of SegWit has opened the doors to the implementation of new solutions and prospects for Bitcoin and cryptocurrency in general.

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