Tracking Bitcoin over the Past Year

The rising price of a bitcoin has been breaking records and making headlines consistently since the price rally began back in December around Christmas time, 2016.

Bitcoin price SolidTrust Pay past year august 2017

Over the past year, Bitcoin prices have increased over 600% in total and the current price at press time is an all-time high of $3585 on Coindesk’s Bitcoin Price Index (BPI).

We’re going to go over some of the particular successes Bitcoin has had over the past year, as well as many of the big hurdles it has had to overcome, in order to give you a better view of what the future might hold for the popular cryptocurrency.

January 2017

bpi aug 11 1The first hiccup faced by Bitcoin enthusiasts came in January 2017, after briefly rising to near all-time-high prices during its most impressive run since 2013. On January 5th, the average price of a Bitcoin across most trading platforms sharply fell around $200 in one hour. This specific price drop was speculated to be linked to rumors of increased regulation on the digital currency by the Central Bank of China, and the free fall continued for a full week.

March 2017

bpi aug11 2

The next hurdle in our incredible story of Bitcoin over the past year is still fresh in the memory of many Bitcoin traders and enthusiasts. After hitting record highs, and even surpassing the price of gold for the first time ever, an unfavorable decision by the SEC regarding the eligibility of  a Winklevoss Bitcoin Trust to be traded on the stock exchange put the entire future of Bitcoin at risk. But this is not what caused the rapid loss in value of nearly $300 in just 3 days. The cause of this hurdle came from within the Bitcoin community itself (along with more rumors of Chinese regulations), as Bitcoin miners and thought-leaders debated over complicated software and tech issues.

Shortly after the decision by the SEC rejecting the Winklevoss proposal, it was reported that the SEC had issued a statement agreeing to review their decision.

April-May 2017

bpi aug11 3

As a new law was passed in early April in Japan categorizing Bitcoin as a legal payment option within the country, demand for the currency began to steadily rise — the price followed. Increased Japanese and Russian demands are responsible for the rise we see from early April to May 25th, when the price of the cryptocurrency dropped sharply in order to correct itself. This reminded traders and enthusiasts how volatile the market can be.

June 2017

bpi aug11 4

On June 15 Bitcoin underwent a significant market correction. Dropping nearly $700 in about a week, this was one of the most significant corrections to date. In a great article written by Joseph Young, it is explained that Bitcoin markets seem to be cyclical, climbing and then sharply dropping, but reliably climbing to back to its previous peak and beyond.

July 2017

bpi aug11 5.png

Confusion and uncertainty plagued the month of July as miners, traders and enthusiasts speculated over the impending bitcoin split (hard fork). As a general consensus was reached, confidence returned to the community and Bitcoin returned to previous price levels, though many were still unsure how the split was going to happen or what it might mean for the future. Volatility persisted until the split happened in early August.

August 2017

bpi aug11 6

On August 1st the hard fork happened and Bitcoin split into two separate cryptocurrencies. Nobody knew what was going to happen, but many expected some short term downward pressure on bitcoin prices. The exact opposite happened as Bitcoin began to sore to new all-time highs and continue its upward trend over the past year.

Time will tell if the popular digital currency will continue to hike, though analysts have indicated a major upswell in confidence and a broad consensus that the upward march of bitcoin’s price could continue.

Click here to learn how to buy Bitcoin with SolidTrust Pay

If you aren’t comfortable investing your own money, there are plenty of ways you can earn some around the web. Check out our comprehensive guide for earning free Bitcoin online to get started!


Bitcoin volatility creates trading opportunities

Bitcoin Price May 5 volatility creates opportunity

Yesterday, May 4th, Coindesk reported that Bitcoin had broken the $1500 mark for the first time, only to follow that report up near the end of the day with a new report, that Bitcoin had taken a sudden $100 nosedive.

Bitcoin 100 dollar nosedive May 4

Fast forward to today, May 5th, and we’re all the way back up in the high $1500’s at the time of writing this article. It’s becoming increasingly clear that Bitcoin isn’t going to drop off the map again the way it did after it’s first big rally at the end of 2013.

Not only is the value of Bitcoin rising to comfortably surpass the value of gold, but the frequency with which it is being trading is also seeing a significant increase. NewsBTC said yesterday that trading platforms are reporting surges, and more exposure in media is leading to more adoption in the mainstream, which is expected to continue to drive demand for the cryptocurrency up, as well as its value.

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While trading can be a way to be earn small gains at a time, many die-hard believers in the blockchain technology are happy to collect and save the coins for what they’re sure is going to be a very dramatic value increase with widespread adoption.

Whether you want to invest some capital into earning cash now or later, we’ve got you covered at SolidTrust Pay. You can buy Bitcoin easily with us, and store it in your Bitcoin wallet or exchange it to your preferred currency and withdraw it to your bank.

SolidTrust Pay guide to earning free bitcoin online

If you don’t want to invest your hard-earned money, we totally understand! There are plenty of interesting ways that you can earn free bitcoins online, including faucets, mini-games, and good old-fashioned mining! We’ve put together a comprehensive guide to earning free bitcoin online to get you started!


The Comprehensive Guide to Earning Free Bitcoin Online

Introduction

Earning a passive income online with minimum effort compared to a traditional job is quickly becoming a millennial trend, and we want to help you get in on the action!

With the influx of interest in and mainstream adoption of digital currencies such as Bitcoin, Litecoin and Ether, it’s not surprising that opportunities to earn money online are popping up left right and center, and a passive, residual income has never been easier to achieve than right now!

Time is money. Many believers in the blockchain technology are happy to invest in Bitcoin, but there are plenty of other ways you can get your hands on some digital currency without breaking the bank – you simply need to be willing to invest time instead of money.

Time is Money is Bitcoin

This article is going to extensively explore each of the most popular methods for earning free Bitcoin and other digital currencies online, and build a comprehensive list of the best methods for earning online in 2017. If you have any suggestions, let us know in the comments or on our Facebook page and we will be happy to add them to the list!

But before we get started.. 

What is Bitcoin how to earn free bitcoin

For those who don’t already know what Bitcoin is (really — it’s 2017!), a brief explanation from our friends over at Blockchain:

“Like paper money and gold before it, bitcoin is a currency that allows parties to exchange value. Unlike its predecessors, bitcoin is digital and decentralized. For the first time in history, people can exchange value without intermediaries which translates to greater control of funds and lower fees for transactions.”

If you require a much fuller explanation, CoinDesk has you covered!

Reasons you might want to earn free Bitcoin

Why earn free bitcoin

The reasons for trying to earn some bitcoin are straightforward – you want to earn money, and bitcoin has a monetary value. The reasons you might choose Bitcoin over other methods vary depending on how view the cryptocurrency. While some see it as merely a means for making private payments, others think of Bitcoin as an asset with real-world value that has huge investment potential.

Depending on your goals, you might want to earn Bitcoin for shopping online, for capital to invest, or for liquidity. You might want to use it to for trading, where plenty of profits can be made in the volatile cryptocurrency market — or you might just want to hold on to it for the next massive value-hike and cash in on that sweet internet payload!

At the time of this writing, the value of Bitcoin is hovering around all-time market highs and strongly competing with gold. At this point, even a fraction of a bitcoin is worth a relatively decent chunk of change!

And now, the list of best methods for earning free bitcoin online:

Earn free online bitcoin

  1. Answer surveys to earn free Bitcoin

Did you know you can get paid for answering surveys online!?

Okay yeah, everybody knows that by now. Earning money online by answering surveys and questionnaires is one of the oldest tools in the box. In fact, filling out surveys and questionnaires for incentives goes back even farther than the internet!

When a research company needs respondents from a demographic they cannot reach, they can easily reach out to a worldwide or specialty panel. By offering a cash incentive to respondents in return for feedback, these companies can quickly fill quotas and collect the information being sought by the client.

While paid online surveys often work by rewarding people with vouchers, rebates or money when they answer a series of questions. Now, many of these companies are also offering Bitcoin!

Bitcoin surveys are still a bit newer to the market, yet they’re mostly similar to the traditional ones — the only difference being that free Bitcoin is given out as an incentive instead of coupons.

  1. Download apps, view websites and click ads for Bitcoin

Another method of earning free Bitcoin is to signup for websites that offer bonus programs.

The way this works is that website owners and advertisers will pay you to do a task (such as viewing an ad, downloading an app or trying out a new game). In return for your time spent, the people posting these offers give out coupons or cash as incentives.

Now with the recent explosion in Bitcoin interest, there are numerous websites offering huge Bitcoin bonus programs.

Some examples of the stranger offers available online include signing up to various websites and checking search engine results for specific data, or voting on contests for people’s pets etc.

Most of these programs simply require a Bitcoin wallet address to get started!

  1. Complete micro-jobs online for Bitcoin (i.e. freelance)

Offer your services in something you are good at and enjoy — get paid to do something you live.

You can write, code, edit, proofread, design, enter data, conduct surveys, carry out research etc — and be paid in Bitcoin in return. Traditionally there are several top dog freelance websites, but newer ones are now popping up with an explicate interest in payment by bitcoin.

Find out what you do best and promote yourself on the various Bitcoin services marketplaces. The best places to advertise your services are:

 

  1. Join a Bitcoin affiliate program

The opportunity for earning money online through affiliate marketing has been around for years, and with the current Bitcoin-revolution taking place, it’s no surprise that Bitcoin-based affiliate campaigns have sprung up across the web.

Affiliate programs are programs that incentivize promotion of a product or service in exchange for a share in the revenue. Some companies pay up to 50% of revenue from customers you refer! If you have a large network or a popular website/blog, you can make a killing off referrals.

Many Bitcoin affiliate programs work the same as a regular affiliate program — by generating a unique URL for you to share, which is tied to your affiliate account. You can then promote your affiliate link anywhere you want (within reason), and purchases or signups made by people through your link will earn you a tasty commission.

The best thing about affiliate programs is that once you refer somebody, you get a lifetime commission from every single purchase they make. This means that your affiliate revenue should keep increasing as you build up more customers, and it will create a permanent stream of passive income so long as the business is in action.

To make things easier, we found this list of some of the companies offering the most lucrative affiliate programs available in 2017:

  • RunCPA.com
  • Markets.com
  • eToro.com
  • AvaTrade
  • 1Broker
  • CEX.IO
  • HitBTC
  • Bitcoin.de
  • Coins-e
  • Cavirtex
  • BitBat.net
  • VirWox
  • CoinMate.io
  • HitBTC
  • OKCoin
  • LakeBTC
  • WhaleClub
  • StrongCoin.com
  • BitBond
  • CoinHouse
  • Coinmama
  • Local Bitcoin
  • xCoins.io
  • BTC Asia
  • CoinMixer
  • BitVisitor
  • CoinURL
  • Shout for Coin
  • Blog4Coin
  • HashCoins
  • Genesis Mining
  • Namecheap
  • CoinTracking
  • Bitcoin Wine

 

  1. Forum-based signature campaigns for Bitcoin

Signature campaigns are often organized by a company that would like to promote their services or products across the forum, and they tend to pay pretty well. All you will need to do is add a specific link or message to your signature and then continue to engage with people on the forums as you normally would.

To make things easier, they guys over at Bitcointalk have made a comprehensive list of all active signature campaigns that you can join.

Many signature campaigns pay out according to your account level on the forum, or your activity and quality of posts. Increasing your account level to earn more is pretty easy — just make high-quality posts as often as possible and remain active in popular threads! The higher your user level goes, the more you can earn per post!

  1. Earn through Bitcoin faucets

Bitcoin faucet is a type of “reward system” that dispenses free Bitcoins in exhchange simply for your traffic. You may need to click a link and fill out a captcha or something like that every so often, but setting up a bunch of faucets is a great way to get started with a passive, residual income.

These sites payout very small amounts, but again, the time and effort they require are very small as well.

Free Bitcoin faucets are usually created for a number of reasons, most commonly:

  • To increase traffic to a website
  • To generate leads for advertisers
  • To introduce people to Bitcoin and ultimately increase popularity and adoption
  • To earn revenue from ads

There are hundreds, maybe even thousands, of bitcoin faucets online right now. Find a few good ones for yourself and add them to your daily task list, you won’t be sorry!

  1. Earning Bitcoin via tips

Tipping is a lot more common online than you may think.

People tip for things they appreciate — a good blog post that helped them solve a problem or a funny/informative video that entertained them. If you can offer people something of value, you’d be surprised how many will pay for it if you just ask!

Simply add your bitcoin address to any online content you may own and see if anybody appreciates it enough to open up their wallet. You just never know.

  1. Playing Games to Earn Free Bitcoin

Sometimes referred to as “fun faucets”, Bitcoin games are another popular way to earn some side cash while also having a great time!

With virtually no investment, fun faucets offer you small fractions of Bitcoin every time you win or manage to beat a level etc..

These programs work the same as most others — your traffic on the website creates ad revenue and the owner agrees to pay you a small portion of that for visiting and remaining active their site.

Bitcoin games may not be the most lucrative option, but who can argue with being paid to play some games?

  1. Earn Bitcoin by mining

Bitcoin mining is how bitcoins are created in the first place. While this method will likely require some monetary investment for equipment, it can certainly pay off in the long run if you set everything up properly.

Most of what Bitcoin mining is about today is simply purchasing the proper equipment and then making sure it doesn’t break. Most Bitcoin mining tools on the market do the rest of the work for you!

Mining Bitcoin has become considerably more difficult of the past several years, while the rewards for each block mined have also gotten much lower. While this is a competitive method, it is definitely worth getting into if you have the resources.

  1. Trading to earn free Bitcoin

Trading Bitcoin is the same as trading any other stock — it consists of buying low and selling high, while foreseeing the possible value fluctuations. As with any other trading endeavor, you should only get into bitcoin trading once you know everything there is to know about how the digital currency behaves and what to expect in the marketplace. With such a highly volatile market atmosphere like the current Bitcoin one, trading can be hugely profitable. But it can also be a huge risk, so trade wisely and responsibly!

If you have some capital to invest (or rather, once you have some capital to invest), you might also want to think about Bitcoin investment websites, Bitcoin CFDs and Bitcoin binary options.

Let us know in the comments if you have any other suggestions, or give us a shout on our Facebook page, and we will be happy to add your suggestions to the list!


How to use BTC with SolidTrust Pay

be-your-own-bank-with-bitcoin-solidtrust-pay

For those who don’t know what bitcoin is, this excellent and highly simplified analogy from coindesk should answer every question you have about it — except how to actually get your hands on some! No worries, we’re going to tell you how you can easily buy bitcoin, exchange bitcoin to USD, withdraw bitcoin to your bank, or accept it as a merchant with seamless exchanges directly into your SolidTrust Pay account!

Buying Bitcoin with SolidTrust Pay

Once you’ve set up an account and a bitcoin wallet, buying bitcoin with SolidTrust Pay is fast, easy, and highly secure. We’ve been around for over 10 years, and our dedicated support staff is always ready to lend a helping hand with any transaction or account issues, as well as to clarify anything you don’t quite understand. In order to buy bitcoin with a SolidTrust Pay account, simply follow these steps:

  1. Create an account at SolidTrustPay.com.
  2. Verify your account to the Standard Verified level.
  3. Set up two-factor authentication using your mobile device or desktop/laptop.
  4. Create a bitcoin wallet of your choice and connect it to your STP account.
  5. Deposit the amount you want to spend on bitcoin into your account via Bank, Credit Card, or transfer from another user.
  6. Go to the My Money –> Withdraw Funds section of your account and choose the Bitcoin option.
  7. Withdraw your desired amount and wait up to 24 hours for it to appear in your bitcoin wallet.

Steps 1 – 4 will only need to be completed once, of course, and then you will be able to easily buy bitcoin with steps 5 – 7. Once your account is Standard Verified and connected to a wallet, you may withdraw up to $2500 per 24 hours from your STP account to your BTC wallet (the Bank Verified limit is $5000 per 24 hours).

Selling Bitcoin with SolidTrust Pay

Selling bitcoin is even easier with SolidTrust Pay than buying it! You only need to have your account Card Verified in order to deposit up to $250 (automatically converted to USD) from your bitcoin wallet to your SolidTrust Pay account per 24 hours. This will allow you to spend or transfer your funds online as you see fit, or make a withdrawal to your credit card in USD. The deposit limit for a Standard Verified Account is $500 per 24 hours, and Bank Verified accounts are limited to $1000 per 24 hours.

Getting Bitcoin from your Wallet to your Bank

One of the biggest challenges people often have is how to withdraw bitcoin from your wallet to your bank. Using the same steps above to connect your wallet to your SolidTrust Pay account, you simply need to go a step further and connect your Bank account to your SolidTrust Pay account. From here, all you need to do is go to the My Money –> Deposit Funds area of your account and choose the Bitcoin option (bitcoin will be automatically converted into USD). Your funds may take up to 24 hours to appear in your account, at which time you will have the option to withdraw them directly into your bank.

Accepting Bitcoin as an Online Merchant

As an online merchant, likely chest-deep in all the responsibilities that come with running a business online, it can be hard to predict and adapt to trends in the market that aren’t currently affecting your business. Luckily, adding the bitcoin option to your SolidTrust Pay button will give your customers the option to pay with bitcoin, which is then automatically converted into USD and placed in your merchant account — no bitcoin wallet required!