The allure of earning Bitcoin is undeniable. As the most well-known cryptocurrency, Bitcoin offers numerous opportunities to earn and accumulate wealth. Whether you”re a crypto newbie or a seasoned investor, there are several ways to earn Bitcoin rewards. Here, we”ll explore apps that offer Bitcoin rewards for shopping, earning interest through crypto savings accounts, becoming a Bitcoin affiliate, and how to avoid common scams.
Earn Bitcoin Rewards While Shopping
Apps Like Lolli
Apps such as Lolli offer you free Bitcoin when you shop for everyday items. This doesn”t require you to buy Bitcoin directly, but you do need to make purchases (meaning you”re not getting that BTC for free). Lolli is a browser extension that gives you a percentage of what you spend at certain e-commerce sites back in crypto. They claim to support over 500 sites, including major retailers like Walmart, The Gap, and Booking.com, as well as smaller niche sites. The earnings range from 1% to over 40%.
How It Works
Think of it like earning points or cash back on your credit card, except in Bitcoin. If you’re on a site supported by Lolli, they’ll alert you, so you know you can earn back when you shop. The business model is simple: Lolli forms partnerships with e-retailers and passes on a share of their earnings back to their users.
Who It’s Good For
- Bitcoin newbies: Those who are new to the world of cryptocurrency.
- Online shoppers: People who frequently shop online.
- Casual investors: Those who want to earn some crypto without taking the steps to invest directly.
Caution
Any browser extension should be installed with caution. Be aware of what data the extension can read on your computer. Currently, Lolli is available only to people in the US, but for anyone who shops online, this seems like an excellent way to earn free BTC for doing what you’re already doing.
Earn Bitcoin Interest
Sites Like Celsius Network and BlockFi
Sites like the Celsius Network and BlockFi allow you to earn interest on your cryptocurrency by parking it in their wallet and not touching it for a period of time. This model is designed for people who want to HODL (hold on for dear life) and are planning on long-term investments.
How It Works
Celsius and BlockFi earn their money by lending your Bitcoin or other cryptocurrencies out to corporate clients. They then pay you interest (in the cryptocurrency you invested) for letting it sit. This model is similar to how banks operate—they lend the money in your savings account to clients, and you earn interest by not touching your account.
Who It’s Good For
- Long-term investors: Those who see their cryptocurrency investment as something they’d like to watch grow over several years.
- Savers: People who are looking for a high-interest crypto savings account.
Considerations
It’s crucial to do your own research before using their service. Understand whether theirs is a service you want holding your funds. Some interest providers are insured and pay compound interest, while others are not.
Become a Bitcoin Affiliate
Coinmama Affiliate Program
Many sites, including Coinmama, let you earn free Bitcoin just by spreading crypto cheer. When you become a Coinmama Affiliate, you’re given a personal affiliate link that you can distribute through your blog, Facebook, or other social media, and then earn every time someone uses your affiliate link. Coinmama lets you earn 15% of the Coinmama commission fee on each transaction made by someone who uses your affiliate link.
How It Works
You don’t need to buy Bitcoin yourself to start earning—you simply need a cryptocurrency wallet to have your earnings sent to. However, it does require time and effort. Successful brand affiliates have a strong social media presence, know how to market themselves and the products they associate with, and often make promoting products their full-time job.
Who It’s Good For
- Marketers: Anyone who considers themselves a strong marketer with a platform through which they can promote the product.
- Bitcoin enthusiasts: Those who are passionate about Bitcoin and have the tools to reach an audience.
Not-So-Free Bitcoins to Beware
Common Scams
In any sphere where people are looking to earn things for free, there will also be people who will try to take advantage of that. The cryptosphere is no different, and it’s rife with scam artists. Some common scams promising free crypto include:
- The promise of free coins … if you send coins first: For example, an advertisement offering to send 2 free BTC to anyone who sends 0.5 BTC to the wallet address provided. The address is always a scam, and even worse, the scammers will often impersonate a legitimate company to attract victims.
- The promise of free coins—if you click: Always be cautious of what you click, especially when that click promises something for free. A recent report showed that an app promising to give users $45 in free BTC a day was actually installing malware on users’ phones and logging keystrokes to capture log-in information.
Safety Tips
- Do Your Homework: Always research before clicking anything or downloading anything onto your computer or device.
- Report Scams: If you encounter a scam, report it immediately to protect others.
Conclusion
Earning Bitcoin rewards can be a lucrative endeavor, whether through shopping with apps like Lolli, earning interest with Celsius Network or BlockFi, or becoming a Bitcoin affiliate with Coinmama. However, it”s essential to stay vigilant and avoid common scams. By understanding the various methods and taking necessary precautions, you can safely explore the opportunities to earn Bitcoin and grow your crypto wealth.
