Currently, there are several platforms that you can use to perform small tasks to earn bitcoins. Unfortunately, most of the sites and tasks pay only small amounts, which is why you will most likely not be able to earn a full-time income by completing tasks in exchange for bitcoin. However, working for digital currencies and learning more about them can provide you with tools and knowledge you can use to get exciting job opportunities in the future.
One of the biggest things you need to keep in mind when working for bitcoin is that there is no way to reverse a transaction on the bitcoin network. Also, there is no such thing on the bitcoin network as being paid conditionally or putting money in escrow. While you can make an agreement with someone to get paid in advance, the payment will still be a regular bitcoin transaction and not a part of any kind of contract supported by the bitcoin network. For this reason, when working for bitcoins, you only want to deal with legitimate companies and people. If a specific company is offering you to complete a specific task, the chances of getting paid are much higher than when you deal with random individuals and complete random jobs.
The world of digital currencies is still very new and many companies believe that they can accomplish a lot and grow significantly. Many of such companies are willing to offer shares and equity in addition to salaries. Working from home may also be a possibility, though many of the employers do require that you work from their office.
Depending on your location, the money you earn in bitcoins may be subject to taxation. Your best approach when it comes to taxes is to check with your local tax authorities to find out if and how you need to report your income in digital currencies.
Earning bitcoins through faucets
A bitcoin faucet is a website or an app that gives its visitors rewards for performing small tasks such as completing captcha. Rewards are usually very small, less than 1,000 satoshi (a satoshi is 0.00000001 of bitcoin).
There are several reasons for the existence of bitcoin faucets. The first one is to introduce people to the world of cryptocurrencies. In addition to offering rewards, many of the bitcoin faucets provide educational information about getting started with cryptocurrencies. In a way, bitcoin faucets are a “try before you buy” way for people to get some practical hands-on experience with digital currencies. They allow new cryptocurrency users to engage in several small transactions before deciding to convert funds from a local regular fiat currency to a cryptocurrency. Bitcoin faucets are a great way to get some experience with cryptocurrencies but typically not a great way to make a lot of money. In most cases, for residents of Western countries trying to make money with faucets is not worth the time because there are more effective ways to earn bitcoins.
The second goal of bitcoin faucets is to get traffic. Because faucets give out free money, even though the amounts are very small, they usually get a lot of page views and are able to promote offers and services to first-time cryptocurrency users.
Finally, bitcoin faucets do make money from advertising, even though the market of bitcoin faucets is highly competitive and making money in it is extremely hard.
Many of the bitcoin faucets run referral programs that reward existing users with a percentage of what the new users earn from the websites. A referral system is different from a pyramid scheme in that users only get paid based on the number of new users that they personally bring to the system. There is no percolation of earnings based on the layers of users. Just like with many other cryptocurrency-related projects, the activities of bitcoin faucets and their legal status vary from country to country.