How to Earn Money with Bitcoin

Earning money from Bitcoin has taken various forms since the world’s top digital currency became more popular. Some of them are new while others have been known to spread in reach along with the currency. Below are some of the best ways to earn money with bitcoin.
Mining
Despite claims that bitcoin mining is no longer profitable due to the high cost of the energy required to get the miners powered, the increasing difficulty rate and the recent halving of the bitcoin block reward, mining activities are still being carried out though at a more larger scale and with sophisticated mining equipment.
Mining pool
The current difficulty level of mining bitcoin which has become so high that it’s practically impossible for soloists – individuals – to make a profit mining has made joining a mining pool a great way to reap a small reward over a short period.
A mining pool allows miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block. It is also a way to encourage small-scale miners to stay involved in mining activities.
Though the calculation of share of the bitcoins mined can be complex, the two most popular calculation schemes to ensure fairness for all parties are the Pay-per-Share (PPS) – offers an instant payout for each share that is solved by a miner from a pool’s existing balance thus transferring much of the risk to the pool’s operator – and the Double Geometric Method (DGM) in which the operator receives a portion of payouts during short rounds and returns it during longer rounds to normalize payments.

This post was published at Crypto Coins News on 23/10/2016.