How To Earn Bitcoin: Introducing A Beginner’s Guide To Getting Free Bitcoin
Knowing how to get a bitcoin wallet and earn bitcoin online doesn’t require a lot of technical skills to get started. Furthermore, not everyone who owns bitcoin has to buy it from an exchange like eToro or Coinbase. Plenty of plumbers, hair stylists, freelance writers and content creators, babysitters and real estate agents around the world earn bitcoin. Whether you're a freelancer looking to diversify your investment portfolio for free, or a Coinbase user ready for the next step on your crypto journey, earning bitcoin is a simple way to get started that doesn’t require any money.
That’s why we’re launching How To Earn Bitcoin, a new email course bringing Forbes’ expert bitcoin tips and education directly to your inbox. We’ve curated a 5-part series on bitcoin wallet basics for beginners, crypto tax accounting for freelancers, networking tips and ideas, plus ways you can get started with tools you might already have, like Cash App or social media accounts. Many of the wallet tools we reference throughout this course are free to download and use—just like it’s free to sign up for this newsletter. And you’ll get the first edition in your inbox right away.
We know bitcoin can seem like a complicated, technical topic. It doesn’t have to be! Bitcoin is just digital money. If you use Venmo or PayPal, you are probably ready to try bitcoin as well. And it doesn’t have to be expensive, either. The dollar price of bitcoin fluctuates, which can make it seem like stocks. But, unlike stocks, you don’t need to pay in order to get started with bitcoin.
If you’re cautious about risky investments, earning bitcoin might be the best option for beginners like you. The best way to avoid fraud (and there are plenty of crypto frauds) is to use licensed companies like Cash App, then eventually switch to self-custody wallets, which we’ll explore in the series. In putting together How To Earn Bitcoin, Forbes asked industry experts some of the following questions:
How Can I Earn Bitcoin Online?
Earning bitcoin can be as easy as downloading a few mobile apps and letting people know that you accept bitcoin for freelance services. Let people who already pay you directly for services know that, in addition to Venmo or PayPal or whatever method you already use, you will also accept bitcoin measured by the daily market price. You’ll also want to attract new clients or followers that are already accustomed to paying in bitcoin. You can use social media networks like Reddit, X and Nostr to connect with other people that want to use bitcoin.
Is Bitcoin A Security?
There are no U.S. government agencies that classify bitcoin as a security (so far). Don’t confuse bitcoin with tokens, even though they are both referred to as types of cryptocurrency. Receiving bitcoin in exchange for goods and services is regulated as income, not a security. That means you’ll need to pay income tax on the bitcoin you receive, unlike the bitcoin you buy on an exchange platform. We’ll go over how to prepare for tax season in the How To Earn Bitcoin newsletter series.
How Do I Get Bitcoin For Free?
The best way to get bitcoin without spending money is to spend time earning it, as income or tips from social media followers. Then you don’t need to worry about whether the price of bitcoin goes up or if bitcoin is a good investment. Spending your time to earn bitcoin means that you can wait until the market is ripe for profit before you turn that extra income into spendable dollars, if you choose. It also means that you can start building up bitcoin savings without spending your own money. If you’re not wealthy, nor attuned to market volatility so that you feel confident in buying bitcoin as an investment, the simplest way for beginners to get bitcoin for free is to earn it online.
