Earning Sats for the first time is a magical experience and NewsBTC is here to guide you through it. The Lightning Network gave Bitcoin real microtransactions with extremely low fees. This opened up new avenues for expansion for the Bitcoin network, avenues the world is only just beginning to explore. Below we present five projects that pay their users or allow them to get tips from the community. In sats over the Lightning Network.
Unlike most altcoins, Bitcoin is really scarce, has an overall hard cap, and has not been pre-mined. The rewards the following projects offer are small compared to million dollar NFT collections and unsustainable 20% returns. However, you will earn real Bitcoins by exploiting your hobbies. Fingers crossed, we hope this first guide has something for you.
However, before we proceed, let us quote Frequently asked questions about Stacker News for a definition of Sats AKA Satoshis. “Sats are the smallest denomination of Bitcoin. Just as $1 contains 100 pennies, there are 100,000,000 sats in 1 bitcoin.”
1.- Earn Sats playing with Thndr
walk to Thndr, download and play classic games like Snake or new and original ones like Turbo84 or Bitcoin Bounce. The company cannot give you sats directly due to the limitations of the Android app store. But you can earn it. “Each ticket you collect is an entry into the daily prize draw. The more tickets you collect, the more chances you have of winning the bitcoin jackpot.”
It’s certainly better to play retro video games and NOT get paid for it.
thndr → https://www.thndr.games/
2.- Get tips for your pictures with Starbackr
Publish your pictures and videos and get rewarded by the community on Starbackr. Tips in Sats might not be the ideal way to support creators, but they might be. Let’s experiment and see what the market says. Speaking of experiments, it seems like this service is just the first tier and not the final form of Starbackr. The company’s About Us states:
“We are building the platform of choice for digital content creators with instant payments, low friction and free from moral censorship. Building on the Bitcoin Lightning network, we can provide a content monetization platform that is significantly cheaper, faster, and more creator-friendly.”
So don’t lose faith if you’re not a photographer. Maybe we’ll hear about new services from Starbackr again in the not too distant future.
Starbackr —> https://app.starbackr.com/
BTC price chart for 09/01/2022 on Bitstamp | Source: BTC/USD on TradingView.com
3.- Get Sats for your content in Stacker News
Forklift News is a Bitcoin-focused clone of Hacker News that rewards content maintenance and production. The way this is achieved is the fundamental difference between the two sites. “Instead of collecting “Upvotes” that aren’t redeemable or transferrable on Reddit or Hacker News, Stacker News users earn Sats that can be spent instantly anywhere.” their FAQ says.
Every positive rating or comment your content receives will reward you with at least 1 sat. However, publishing is not free, it also costs 1 sat. This is one of the most developed projects on the list, so there is an economy around it and the team has been developing new functionalities. For example, you can pay to improve your content and users can increase their positive rating by rewarding more sats.
Forklift News –> https://stacker.news/
4.- Cut clips from your favorite podcasts in Fountain
Spring is a Podcasting 2.0-enabled app that stands out from the crowd by allowing users to earn Sats. You can listen to sponsored content and advertisements. Alternatively, you can annotate or trim clips from your favorite podcast. If users like these comments or clips, you will get a cut. Plus the satisfaction of helping promote your favorite podcast.
Mind you, another opportunity Fountain and similar apps offer is for you to produce a podcast and be rewarded by the community at the Value-for-value model. The barrier to entry is much higher, sure, but podcasting could be your calling.
fountain → https://www.fountain.fm/
5.- Trade derivatives in Sats via LN markets
If technical analysis is your forte and fundamental analysis excites you, LN markets offers an easy way to play the markets. “Trading is done directly from any Lightning wallet, allowing for super-fast access to derivatives markets. Open a position by making a Lightning transaction, close the position and receive the funds directly in your wallet.” their FAQ clears.
However, only open a trading position if you know what you are doing. Check out at least a few NewsBTC Daily technical analysis Episodes to boost your learning process. Or use LN Markets on the testnet, which is also possible. Whatever you do, remember that gambling in the markets involves risk and even the most experienced traders suffer devastating losses. Do not use money that you cannot afford to lose.
LN markets → https://lnmarkets.com/
Before closing, some of these services assume you already have a Lightning Network-specific wallet. Go and learn how to set one up before interacting with them. That concludes NewsBTC’s first guide to making money through the Lightning Network. If you want more content like this, let us know via NewsBTC’s social media channels.
Featured Image: Bitcoin Bounce screenshot by Thndr Games | Charts by TradingView
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