How Get Money From Bitcoin

Posted : admin On 4/1/2022

Every so often at Coinmama, we get a question that makes us scratch our heads, rethink how we explain things, and go back to Bitcoin basics. Recently that question was “Can you tell me how to add money to Bitcoin wallet?”

The head scratching came from not being sure exactly what question was being asked. Was the user wondering how to buy Bitcoin or was he asking how to load his wallet with fiat (that is, with paper currency)? After some lively office debate over coffee and a few chocolate bars, we were reminded of something often repeated by teachers: if one person has a question, someone else is probably asking the same thing. And because here at Coinmama we like to think of ourselves as crypto teachers, we decided to tackle both questions and a few bonus topics as well.

There are a number of ways to make money from Bitcoins. If you have tons of bitcoins, you convert it cash or trade it to earn money. If you don’t have bitcoins, you can still make money from it by working on bitcoin-related jobs.

First let’s rewrite the question:

After setting up the Bitcoin mining rig and installing a Bitcoin mining software, find a good hash and it can immediately earn $42, which is already a lot of money. If this amount is multiplied by 30, the monthly earnings from Bitcoin mining would be $1,260. If this continues, the annual profit from Bitcoin mining would be $15,120. Over the Thanksgiving holiday, he input his local bank details, verified his identity and then bought $100 worth of Bitcoin by transferring money into his new account. The trading fee was around $3.

Before you can ask “Can you tell me how to add money to Bitcoin wallet?” you need to ask, “Can I add money to my Bitcoin wallet?” The answer, much like our relationship with Coinpapa, is “It’s complicated.”

Let’s back up. A crypto wallet is a cross between your bank account and your mailbox for cryptocurrency—it’s the place where you can send, receive, and store coins, and it’s also where you can see a record of all of your transactions. But a crypto wallet is, by its very nature, for cryptocurrency.

So the answer to the question depends on what you mean by money. If by money you mean Bitcoin or other cryptocurrency, then yes! You can buy Bitcoins and send them to your wallet (we’ll cover that in a second). But if by money you mean fiat currency, such as a Dollar, Euro, or Yen, then the answer is no. While on some exchanges you can link your credit card or bank account, that link is to the exchange and not to your wallet. In other words, you cannot add fiat to your crypto wallet.

How do you buy Bitcoin?

If our user was actually asking how to add (or buy) Bitcoin to their wallet, well that we can easily answer!

  • Step 1: get a bitcoin wallet

You can’t get cryptocurrency without a crypto wallet, so if you don’t already have one, that’s your first step. There are many, many crypto wallets you can choose from. Some live online, some live offline, some can be used to store several different cryptocurrencies, some only one or two. Many experienced crypto buyers spread their coins out over more than one wallet. The key to choosing a wallet is to do your research: learn which wallets support each coin, read the reviews, and then download the wallet or wallets of your choice.

  • Step 2: place an order

If you’re registered with Coinmama, once you have a wallet you can easily buy Bitcoin with your credit card, debit card, or SEPA bank account. (If you’re not registered, you can do that here.) Simply choose the amount of crypto you’d like to buy, add your payment details, and go to step 3!

  • Step 3: enter your wallet address

Here’s where things get interesting. Every wallet has both a public key and a private key, or two very, very long strings of numbers and letters. The public key is what other people can see: it’s what appears on the blockchain, and it’s also what you can give out in order to receive cryptocurrency. The private key is the password to your wallet. (Don’t lose it, because it can’t be reset, and don’t give it to anyone you wouldn’t also give your bank password to.) In order to send (or add) Bitcoin to your wallet, you will need to enter your public key—or wallet address, so that Coinmama can send you your coins. Once you do that, your work is basically done! You’ll just need to confirm your wallet address by email before you can sit back, relax, and wait for the Bitcoin to be added (or sent) to your wallet.

Coinmama’s Takeaway

At Coinmama, we’ve been around crypto long enough that we forget some people are new to it. It’s nice to get a head scratcher every once in a while, to remind us that for many people, crypto basics are not so basic, and to give us an excuse to answer questions we don’t normally get to answer 🙂

Click here to read our Beginner’s Guide to Bitcoin and Crypto

The founder of Bitcoin, Satoshi Nakamoto, proposed an electronic payment framework referencing a mathematical proof. He wanted to create a currency independent from any centralized governance, that could be transferred digitally very fast in mere minutes with significantly small fees. And Bitcoin was born.

The best features of Bitcoin:

Buy anything online

You can use Bitcoin to shop online—kind of like the mainstream dollars, pounds, or euros, which are also used in transactions online.

You’re in charge, Not some bank

Arguably one of the best features of bitcoin is that its decentralized. There isn’t a single institution that controls Bitcoin’s network. It means that you’re the only one who can control your money.

Set up is a breeze

Nowadays opening a bank account is like an obstacle course, do this, sign that, do that, go there, etc., but with bitcoin, it will only take you less than a minute, no fees, and no questions.

That’s not all…

No one will know

Well, not quite exactly but the good thing is that you can have as many Bitcoin addresses as you want and no one will be able to link them to your private credentials—address, names, etc.

The real story is…

Crystal clear transparency with a clever twist

Bitcoin has a blockchain, which is sort of a huge general ledger that records each and every transaction that has ever occurred in the network. Meaning that if you ever used your bitcoin publicly, then anyone can find out how much bitcoins you have.

But what is the clever twist…

Even if they find out, they can’t tell it’s yours! Additionally, there are some measures you can take to make your transactions absolutely anonymous. Like not transferring huge amounts to one address or using different addresses every time you transact.

Unbelievably low fees

You might get charged ten bucks for international money transfer by your bank; Bitcoin doesn’t charge you a dime.

Remarkable speeds--you’ll be done before you down your cup of coffee

Send money to anywhere in the world, and it will get there in a couple of minutes once Bitcoin’s network processes the transaction.

Non-repudiable

Once your Bitcoins are sent, you won’t get them back unless the receiver is kind enough to give them back. So, do be careful but besides that, it’s a remarkable feature.

You won’t believe what is based on…

Science! —particularly mathematics. There are software--designed to function using a mathematical formula, being used by people all over the world to generate bitcoins.

Moreover, to top it all off, the mathematical formula is free for everyone to access and so is the software open source.

How Bitcoin is made

No single entity “prints” Bitcoins, it is generated digitally by a large community of people which you, and anyone else can join. Essentially, they are sort of “mined” by using the power of a distributed network of computers.

But wait, there’s more…

This network is also responsible for processing all Bitcoin transactions which virtually makes Bitcoin its very own payment system.

Why Bitcoin

Bitcoin has grown to become a popular virtual currency to the extent that it threatens the U.S dollar. It was created as a result of the U.S financial crisis and probably partly also based on the economic system of the U.S.

The future is Bitcoin

Our civilization is completely dependent on middlemen—banks, to enhance reliability in our economies. So far, they’ve done a great job fulfilling that purpose, but there are issues arising which are deeply rooted in this old model for business which is clashing with novel technology.

Here is the real story…

A key feature of the old business model is centralization which is currently failing under pressure. An excellent example is the recent Brexit and the voting of Trump—an inherent symptom of centralization. However, this isn’t restricted to the US or Europe.

Let us explain why Bitcoin is the future.

Bitcoin is the future, seeing that many “mushroom markets” and developing countries have grown fond of Bitcoin thanks to the increased financial instability and unstable currencies. It also shines above the rest when it comes to inter-border transactions thanks to its speed, trust, tiny fees.

Even China loves it! It is estimated that the People’s Republic of China accounts for 99% of the volume of Bitcoin Traded.

There is a lot of money to be made in Bitcoin, and with a bright future ahead, you will regret not jumping on this bandwagon. We as Bitcoin faucet are here to help you achieve financial freedom.

This is how we help as a Bitcoin Faucet.

So, Bitcoin Faucet?

We are a web-based Bitcoin service that gives away Bitcoins for free to its users—like you. If you want to claim your share of Bitcoins, all you need to do is follow the simple steps on our website, solve an easy offer and get your free Bitcoins.

How Do I Get Money From Bitcoin

Like taking candy from a baby—except in this case we are giving it to you, free of charge.

How many Bitcoins can I earn

Our main goal is to be a premier Bitcoin Faucet with the highest payout. To be able to keep our claims as high as possible we automatically refine the rate depending on several factors including the exchange rate of BTC/USD.

The best part?

Presently, you can claim up to $100 in under 5 minutes. After you have successfully signed in our service, you will now be able to see for yourself the mean rate per claim.

Referral commissions—invite your friends.

How To Get Money From Bitcoin Blast

Additionally, you have an unlimited potential to explode your earnings through our referral systems, which pays you 20% of your selected amount.

How

However, there is a catch…

You might see couple of offers in the final step, and in all honesty, this is where we make our money so bear with us. And since we love you lot we choose to share maximum of what we make.

Problems with making a Faucet claim?

If you’re having any problems with making a claim, then the reason could be one of the following:

Ad Blocks

If our systems detect an ad blocking service or if we find out our offers are being blocked in your desktop client browser, then you won’t be to make a claim. If you can’t see our offers, then something must be causing the block. It could be an add-on, extension or plug-in installed in your browser.

If that is the case, then be sure to unblock our service or white list our website.

Device Cross-compatibility

We built our service with most popular devices in mind—which mean the widest and narrowest browser devices will be supported. But in case you find your browser or device is not supported then be sure to try out a different device or browser.

How To Get Money From Bitcoin Address

Support/Contact

How To Get Money From Bitcoin Wallet

If you have, any questions be sure to contact us via form.