Since 2009, Bitcoin has become one of the most coveted assets worldwide, with a market cap soaring beyond $1 trillion at its peak. Many believe Bitcoin has the potential to completely change the financial landscape. It offers an alternative to traditional credit card systems, lowers remittance costs, and brings us closer to financial inclusion where the unbanked aren't left behind.
Recent data shows a surge in cryptocurrency adoption in India. As of 2023, it's estimated that around 16.8% of internet users in the country own cryptocurrency, which equates to about 75 million individuals embracing crypto. Projected to house over 156 million crypto natives in 2023, India is at the forefront of the global crypto narrative.
TL:DR
Bitcoin's global impact: Since its 2009 introduction, Bitcoin has transformed the financial world, reaching a peak market cap of over $1 trillion.
Financial evolution: Bitcoin provides a traditional payment system alternative, cuts down remittance fees, and supports broader financial inclusion.
Crypto adoption in India: By 2023, nearly 16.8% of Indian internet users, equating to about 75 million people, are projected to have adopted cryptocurrency.
India's crypto lead: With an anticipated 156 million crypto enthusiasts in 2023, India is spearheading the global crypto conversation.
Top 6 earning methods: We explore the six best ways for Indians to earn Bitcoin, presenting the potential rewards and necessary precautions.
Top 6 ways to earn free Bitcoin in India
You may tend to disregard the potential of gaining free Bitcoin, mainly due to your familiarity with scams. Although there are many platforms that may not be trustworthy, there are authentic sites where individuals in India can acquire free Bitcoin.
1. Bitcoin mining
Bitcoin mining involves putting your computing power to work solving complex cryptographic problems to verify transactions and add new blocks to the blockchain. This digital effort is rewarded with Bitcoin and transaction fees for each block mined. While the competition is intense and the energy costs can be high, the appeal of earning Bitcoin passively makes mining an attractive prospect for individuals interested in the Web3 space.
2. Bitcoin lending
Platforms such as BlockFi, ZebPay, and CoinDCX offer the possibility of making money by lending your Bitcoin to people or organizations that require it. In return, you receive Bitcoin. Making money in this way can be attractive, but be cautious. There's no security, so it's essential to be mindful and evaluate the trustworthiness of the platform and the borrowers before committing.
3. Bitcoin trading
If you're interested in analyzing charts and following breaking news, consider exploring the option to trade Bitcoin. You can use various approaches to gain even more Bitcoin through market movements. Reading Bitcoin graphs and understanding the crypto trading environment is critical to capitalizing on fluctuations. Get involved with buying and selling, hedging, intra-day trading, and trend trading to maximize your Bitcoin earnings.
4. Holding and community participation
Embracing two particular strategies that require patience and proactiveness could earn you free Bitcoin. First, maintain a long-term view on Bitcoin, buying the asset and hoping its price rises. Second, join new Web3 communities such as ZBD Social. These communities will compensate you for your content creation in SATS (the tiniest BTC unit), allowing you to get paid while participating. Some protocols provide Bitcoin as a reward for testing their applications, combining community involvement with practical feedback.
5. Make NFTs and sell them
If you have an artistic flare, you may want to consider creating non-fungible tokens (NFTs). They're tokens on the blockchain representing a unique physical or digital asset. To create an NFT, you only need artwork in JPEG, PNG, or video format. Using an NFT marketplace, you can easily digitize and sell your physical artwork for free. OKX has a marketplace where you can easily list your NFT and sell them for crypto, or you can create one directly on the OKX Wallet using AI.
You can also connect your OKX Bitcoin wallet to OKX's NFT marketplace and convert any crypto received from your NFT sale into Bitcoin. Earning money from selling your digital asset often depends on its quality and popularity.
You can also get free NFTs through regular airdrops on the OKX NFT marketplace. Making your NFT and selling them is one of the easiest of the six ways to earn free Bitcoin in India, as it requires no overhead cost.
6. Engaging in Online Platforms
Platforms like Cointiply, a Bitcoin faucet and get-to-paid (GPT) platform, offer Indians many ways to earn Bitcoin, from completing surveys to downloading apps. Besides these options, you can participate in airdrops, where spreading awareness about certain crypto products or tokens earns you free Bitcoin.
These digital platforms and events blend the ethos of Web3 with the practicality of earning Bitcoin, making them a go-to for many in the Indian Web3 community.
The final word
Since 2009, Bitcoin hasn't only been a sought-after asset. It's fueled unprecedented financial evolution, providing an alternative to traditional methods and supporting financial inclusivity.
India's attitude to crypto assets shows that many in the nation consider digital assets a possible solution for controlling their finances. With the rising popularity of crypto, we can expect more decentralized applications and protocols to come from India.
Meanwhile, the country's crypto-based communities, digital spaces, and adoption strategies combine the principles of Web3 with the actual opportunities of earning Bitcoin. As a result, India's increasing role in crypto could help bring about change to the international financial system.
© 2024 OKX. This article may be reproduced or distributed in its entirety, or excerpts of 100 words or less of this article may be used, provided such use is non-commercial. Any reproduction or distribution of the entire article must also prominently state: “This article is © 2024 OKX and is used with permission.” Permitted excerpts must cite to the name of the article and include attribution, for example “Article Name, [author name if applicable], © 2024 OKX.” No derivative works or other uses of this article are permitted.
