Hi friends! I thought I'd write this guide up to help anybody capitalize on the newly-emerging technology of Bitcoin and other cryptocurrency (crypto) without investing a single penny. I believe we all should be getting in on these world-changing currencies early. Bitcoin's co-invention: the Blockchain, is already starting to change the world as we know it...
This guide is intended to help introduce newcomers to crypto and help them get started by making free Bitcoin, or to inform already happy Bitcoiners, ways they may not know to multiply their Bitcoins. So without further adieu:
Almost-effortless ways to make free Bitcoin with your computer:
1. Mining - This, like gold, is how all Bitcoins were born. It uses your CPU, Graphics Card (much faster), or ASICS (dedicated hardware which sole purpose is to mine; fastest) to process "Hashes" for the CryptoCoin of your choice, Ether is my favorite, which you can then trade for Bitcoin, as mining Bitcoin directly requires expensive ASIC's to really be profitable. Minergate is a great program that is very easy to use, but does take small percentage of your rewards. Smartphones, tablets, laptops, and pc's can all "mine" with Minergate. I'm making just over 2$ a day right now mining Ether with all my old smartphones, a couple old tablets, 2 of my laptops, and my girfriend's laptop. Things we had lying around are netting me almost 1k a year! More if (when, in my opinion) Ether goes up.
Minergate's official site to download and get started -- https://minergate.com/
If you've taken a serious interest, it would be worth your time to read and follow this well-written guide on getting started mining Ethereum without Minergate for maximum profit -- https://www.bestvpn.com/ethereum-mining/
To calculate mining profit -- https://www.cryptocompare.com/mining/calculator/
2. Storage Sharing - Got Gigabytes of hard drive space you're not using? SiaCoin has an application that allows you to share hard drive space on the blockchain, and pays you proportionately in SiaCoin, which you can trade for Bitcoin at coin exchanges, such as Poloniex or Bittrex. This can be done simultaneously with mining too! Put your computers to work!
SiaCoin official site -- http://sia.tech/
3. Steemit - But you already knew that! :) Post useful, intriguing, or otherwise relatable content and get STEEM!
4. Compounding Your Coins - Bitcoins make more Bitcoins!
Byteball: and its native token GBYTE, is my new favorite cryptocurrency! I won't go too much into the technical details, but it allows for smart contracts such as, insurance, betting, payroll etc. to be automatically executed when the appropriate command is triggered, but we're not worried about that for now. The company is giving out free GBYTE's (worth ~390$ ea today) to bitcoin owners. The great thing about this: you can keep your bitcoins wherever you want, you just have to prove you own them through Byteball's Wallet app. They "air drop" the GBYTE's every full moon, users receive .0625 per Bitcoin, or .2 free GBYTE's for each GBYTE currently owned. Something like 365k have been given out, so there's still time to get in on this as they plan to continue the "air drops" every full moon until the maximum of 1 million GBYTE's are in circulation! Byteball is keeping 1% and giving out 98% via "air drops", if you wonder why on earth they would do this, read up on Metcalfe's Law. GBYTE's, like almost any other crypto, can be traded for Bitcoin at Bittrex.
Bitcoin Lending Rates vary wildly, but lending your Bitcoin on an exchange yields you 0.05% daily when prices are steady, which, if you let sit and compound works out to be about 15% annually. Just be aware, exchanges have been hacked, and this method carries some risk, be sure to do your own research before using exchanges.
Trading -- Lastly, crypto can be traded against each other on exchanges. I must warn you however that trading with intention of making profit yields loss in over 80% of cases. Ideally you want to sell when prices are spiking and buy when they're dropping, much easier said than done. If you trade, you trade at your own risk and one should never risk more than they can go without!
5. Cashing Out - I wouldn't at this time, nor in the foreseeable future recommend anyone to sell their Bitcoins, but there are 3 good options for doing so.
- Coinbase - The only insured crypto exchange and my personal preference, even with their untimely downtimes and 1 week waiting periods. Reasonable fees considering the insurance. Coinbase site -- https://www.coinbase.com/
- Bitcoin Debit Card - The Shift Card -- https://www.shiftpayments.com/ -- allows you to have a Visa card that, upon use, automatically converts Bitcoin from your specified address into USD and pays for anything a Visa card will pay for. Fees are very high, but that's what you pay for convenience.
- Sell to a Person - The only way of cashing out that carries any risk. It will usually yield you the most buck for your coin, however, unless you happen to know a trusted bitcoin dealer, you'd probably have to meet somebody on Local Bitcoins -- https://localbitcoins.com/ -- I'd call it the craigslist of Bitcoin if that clears it up for ya.
So that's it for now, I hope this helps! Let me know if anybody is interested in me going into detail about anything mentioned!
-------------------------------------------------😁Happy Bitcoining!😁-------------------------------------------------
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