Welcome To Day 5 Of Our 5-Day Series On Earning Digital Currency. |
You’ve made it to the final installment of our How To Earn Bitcoin email course, and we sincerely hope some of these insights prove valuable to you in your bitcoin journey.
Do you want to keep up with more expert crypto knowledge and timely news updates? If so, you should follow us on X (formerly Twitter) at @ForbesCrypto and instantly subscribe to our Crypto Confidential newsletter, our weekly rundown on all things crypto.
Here’s an overview of what we’ve covered over the last five days: |
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Download Your Own Bitcoin Wallets: Whether you prefer custodial, mobile options like Cash App or more sophisticated self-custody options for your desktop like Electrum or Sparrow Wallet, you’ll need places where you can receive bitcoin directly in a peer-to-peer fashion. Please don’t use Coinbase or other crypto exchange accounts for this. Exchange accounts are not intended for direct payments.
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Explore Bitcoin Networking And Communities: From Nostr to local bitcoin event spaces, there are a variety of virtual and physical spaces where people can meet other bitcoin users and exchange knowledge. Tap into the networks and resources that suit your needs.
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Remember That Not All Digital Assets And Tools Are Created Equal: There’s a lot going on in the cryptocurrency industry. So be sure to start by asking yourself what your needs are, not what the hottest trends may be, and research the tools that address your specific situation.
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| Being your own bitcoin bank can be intimidating at first, although it definitely gets easier with practice. According to the hardware wallet manufacturer Trezor, here are some of the best practices for using bitcoin wallets: |
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Generate Fresh Addresses For Each Client: “Address reuse refers to the use of the same receiving address for multiple transactions… to enhance your privacy, it is possible to use a fresh address for each receiving transaction,” the Trezor website advises. “As well as protecting your privacy, using a fresh address greatly reduces the risk of losing incoming funds or sending them to the wrong address.” Note that it’s much harder to generate new addresses with Ethereum wallets, so that’s another reason some people prefer to start with bitcoin. This is mostly relevant for self-custody options.
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Start Small: Start by letting existing clients know that you now also accept bitcoin, in addition to dollars, rather than trying to go bitcoin-only right away. You can also add information about custodial options like Strike or Cash App to your social media bios. These are easy ways to get started while you build your reputation in the bitcoin ecosystem.
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Attend Community Events: There are plenty of in-person groups, conferences, and workshops happening every day, from BitDevs meetups to the Bitcoin 2024 conference in Nashville. These are great places to connect with prospective clients who might be interested in paying you in bitcoin.
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