Lightning Speed: 5 Ways To Make Money/ Earn Sats Using The Lightning Network
September 01 2022 - 8:58AM
NEWSBTC
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 micro-transactions with extremely low fees. That opened up new
avenues for the bitcoin network to expand through, avenues that the
world is just beginning to explore. In the following text, we will
present seven projects that pay their users or allows them to get
tips from the community. In sats, using the Lightning Network.
Unlike most altcoins, bitcoin is truly scarce, has a hard total
cap, and wasn’t pre-mined. The rewards that the following projects
offer are low compared to million-dollar NFT collections and unreal
20% yields. However, you will earn real bitcoin by exploiting your
hobbies. Cross your fingers, let’s hope this first guide has
something for you. Related Reading: Lightning Speed:
Open-Source Bitcoin Banks’ Fee Structures For Inbound Liquidity
Before advancing, though, let’s quote Stacker News’ FAQ for a
definition of sats AKA satoshis. “Sats are the smallest
denomination of Bitcoin. Just like there are 100 pennies in 1
dollar, there are 100,000,000 sats in 1 Bitcoin.” 1.- Earn Sats
Playing Games With Thndr Go to Thndr, download and play classic
games, like Snake, or new and original ones like Turbo84 or Bitcoin
Bounce. Because of Android App store’s restrictions, the company
can’t give you sats directly. You can earn them, though. “Each
ticket you collect is an entry into the daily prize draw. The
more tickets that you collect, the more chances you have to win the
bitcoin jackpot.” It certainly beats playing retro videogames and
not getting 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 then again,
maybe it is. Let’s experiment and see what the market says. And
speaking about experiments, it seems like this service is just the
first stage and not Starbackr’s final form. The company’s About Us
says: “We build the platform of choice for digital content creators
with instant payments, low friction, and free of moral censorship.
Building on the Bitcoin Lightning network allows us to deliver a
content monetization platform that is dramatically less expensive,
faster, and more creator-friendly.” So, don’t lose faith if you’re
not a photographer. We might hear from new services from Starbackr
again in the not-so-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 Stacker News is a bitcoin-focused Hacker
News clone that rewards content curation and production. The way it
accomplishes this is the fundamental difference between the two
sites, “Rather than collecting “upvotes” that are not redeemable or
transferable on Reddit or Hacker News, Stacker News users earn sats
that can immediately be spent anywhere,” their FAQ says. Each
upvote or comment that your content gets rewards you with 1 sat
minimum. Publishing is not free, though, it also costs 1 sat. This
is one of the most evolved projects on the list, so there’s an
economy around it and the team has developed new functionalities.
For example, you can pay to boost your content and users can boost
their upvote by rewarding more sats. Stacker News –>
https://stacker.news/ 4.- Cut Clips From Your Favorite Podcasts In
Fountain Fountain is a Podcasting 2.0-enabled app that
distinguished itself from the crowd by allowing users to earn sats.
You can listen to sponsored content and advertisement.
Alternatively, you can comment or cut clips from your favorite
podcast. If users like those comments or clips, you get a cut.
Plus, the satisfaction of aiding in the promotion of your favorite
podcast. Mind you, another possibility that Fountain and
similar apps provide is that you can produce a podcast and get
rewarded by the community under the Value-for-Value model. The
barrier of entry is much higher, sure, but podcasting might be your
calling. Fountain → https://www.fountain.fm/ 5.- Trade
Derivatives In Sats Through 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 and enables super fast access to derivatives
markets. Open a position by making a Lightning transaction, close
the position and receive the money directly in your wallet,” their
FAQ clarifies. Open a trading position only if you know what you’re
doing, though. At least watch a few NewsBTC Daily technical
analysis episodes to kickstart your learning process. Or use LN
Markets in testnet, which is also possible. Whatever you do,
remember that playing the markets comes with inherent risk and that
even the most experienced traders suffer devastating losses. Don’t
use money that you can’t afford to lose. LN Markets →
https://lnmarkets.com/ Related Reading: Lightning Speed: Branding
Opportunities On The Lightning Network, A How-To Guide Before
closing, some of these services assume that you already have a
Lightning Network-specific wallet. Go and learn how to set one up
before interacting with them. This closes NewsBTC’s first guide to
making money through the Lightning Network. If you want more
content like this, tell us through NewsBTC’s social media channels.
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