When starting to make bitcoin online: The expectation versus reality

With so many popular articles listing out ways that you can make money online its no secret that a lot of people would like to make money from home and if possible, to earn the kind of income that could allow them to always make money from. This is convenient for many reasons, mainly because you don’t have to wake up every morning when you know you should be sleeping, it sounds easy and convenient but the reality is that if it were that easy and convenient then everyone would be on their laptops at home “Making money”.

While its very much possible to get that sort of income online it has to be accepted that its not for everyone. Lets take a look at the most common methods of newcomers trying to generate income online. These methods can easily be found by typing “How to make money easily online” on a search engine.

1. PCT websites – I consider these to be one of the biggest false realities for new internet surfers as the category of these websites is purely “paid to click”. After discovering bitcoin I immediately looked into different ways that it can be earned and discovered PTC websites. I realized that on average i could earn 0.00007 mBTC per click but as a network administrator I couldn’t help but consider something else. If every web page takes approximately 100KB  of my data and every 10 web pages i open pays me at least $0.01, including the time  and electricity used while surfing then clearly anyone who is only clicking on ads and not referring or advertising is losing a lot. So basically, PTC websites weren’t designed to make money by “clicking ads” but instead by finding ways to make money off them.
2. Altcoin faucets- These are basically websites that pay to make claims of and accumulate altcoins. The only two cryptocurrencies i know of providing faucets and dogecoin. These faucets are websites that make money by putting up banners on their pages and they make from those referrals. My problem with using faucets is once again bandwidth consumption, the faucets require users to make regular claims which is problematic for the user because the ads on the page are animated and sometimes the ads are embedded videos.
3. HYIP (High yield investment programs)- I honestly don’t fully understand how these work but all you need to know is that they are scams aimed at selling dreams to new unsuspecting fans of bitcoin. They usually post their ads on PTC websites and Faucet pages with a banner that says something like “Get 5% daily for life”, when you click the link you are directed to a well structured website that might even have options for how much your return will be depending how much you are willing to invest. In order to reduce the number of bad reviews they usually have a relatively costly minimum amount to deposit and they will probably pay you a few times to earn your trust so you can deposit more bitcoin. I once fell for it, after being payed twice and making my second investment the website went offline with no history about the person that owned the domain. Although bitcoin has many advantages, the greatest disadvantage for me is that once you lose money there’s no way to trace is back because the wallets address has changed.

So if you have just started working with bitcoin or any other cryptocurrency then you need to be careful of where you decide to put them and remember, every transaction costs a certain percentage of what you’re sending so even if you can get a refund you must remember that you will probably pay for it and not receive what you were expecting to get.