What are the best ways to earn cryptocurrencies today? Nice question that newbies often ask. Today we will try to answer them.
We all want to increase our portfolio of cryptocurrencies, especially in this historical moment when exponential growth in the value of a single Bitcoin is expected, due to the effects of halving. But if you are looking for a magical method to get rich without any effort you are wrong. An important point on which we must focus and that we must remember, is that cryptocurrencies are like common currencies, so to increase your wallet, you'll need to invest time or money in order to make profit.
Let's take a look ...
Mining
Mining is the process by which new coins are generated through the validation of blocks related to transactions on the blockchain. The first minable coin in history was obviously Bitcoin, but Ethereum, Litecoin, Monero and many other cryptocurrencies can also be earned with the same process.
Whit mining the profitability can be high compared to other techniques that we will see later, but there are high efforts to be supported.
Mining requires extremely expensive equipments, high elecricity cost and hardware/software knowledge. All these variables must be considered to calculate the possible ROI (return of investment), and if not adequately foreseen, it could also be negative, since it also strongly depends on the current value of the currency you are mining.
Faucet
A faucet is a reward system, that dispenses small amount of cryptocurrencies by a web site. Generally you only have to complete a chaptcha and claim every few minutes your rewards. This is one of the cheapest and easiest way to gain cryptocurrencies, but it is very effort because you have to spend all your time in front of PC. Moreover faucets yeld very low income, you can gain only a few dozen of cents during one day of work!
Faucets are still a good approach for those who want start discovering the world of crypto.
Completing tasks on websites
A very similar ways to faucets are websites which offer you to earn free Bitcoin or Altcoin by completing small tasks like clicking on ads, viewing videos or answering forum questions. Like faucets these are micro earnings with a great deal of time so don't expect your income be very large.
If instead you are a professional or a freelance, there are many websites that allow you to be remunerated for your work done through cryptocurrency. An example of these sites is Anytask. In this case the earnings are greater but obviously depend on the service that you offer to your customers.
Trading
Personally I define trading on an Exchange the fastest ways to gain Bitcoin or Altcoin. Basically you need to buy an asset when it's price is low, and sell it when the prices rises. In this way it is possible to make high profits in very short time.
Easy? Non exactly!
Trading require specific skills and market knowledge so for a beginner the risk to losing money is very high. To became a trader, you have to invest in good trading education, doing experience and don't be afraid of losing money in the short term.
Many people define trading like a form of gambling. I disagree. I think trading is like any job, there is a need for competence and dedication!
Blogging
An ever increasing number of web platform have begun to use cryptocurrencies as a payment method. Blogging platform is one of them and Publish0x is the best example.
With Publish0X, writers can earn token when readers tip them. In addition, also the reader can gain a percentage of the tips If you like write and want to share your knowledge or the latest news about a particular topic, you might want to consider becoming an article writer.
The profitability depends on your skills of writing and the number of you followers, but the effort isn't so high and ther is no risks.
Currently, the tokens you can tip and receive by Publish0x are Basic Attention token (BAT), DAI stablecoin (DAI) and Loopring (LRC).
Affiliate program
One of the most used way to make money and earn cryptocurrencies is by promoting through affiliate programs. Affiliates are people who promote a business and receive a commission if they manage to bring in paying customer. Just share your unique affiliate link to promote a product or service.
Affiliate programs are often win-to-win! I'll give you an example: this is my Coinbase referral link. If you click on it and you sign up for a Coinbase account, after your first deposit of at least 100$, we can each gain 10$ for free.
In order to become a successfull affiliate marketer you don't need big skills, but require an high amount of effort. On the other hand, the earning potential can be high.
Staking
Staking is the process of locking funds in a crypto wallet to support the operation of a blockchain network. People who holding funds, receive rewards, while contributing to their operation of validation. Stacking is widely used on networks that adopt the Proof of Stake consensum mechanism.
Stacking can be an excellent source of smart passive income and you can earn several percentage points of your wallet. However only PoS based coin can be stacked. Bitcoin, Ethereum and other major currencies use Proof of Work consensum mechanism, related to the mining concept.
Also, you must first make an investment by purchasing coins to be blocked on the wallet.
Airdrops
The platforms that operate in the Blockchain world and that use of their own tokens exploit airdrops to make themselves known. Airdrops allow the platform to advertise quickly.
Usually tokens given in airdrops are worth little or nothing. This is because, the platforms that carry out airdrop, are in search of notoriety and still in the development phase, this is the reason why their tokens do not have a great value. What has just been said does not imply the fact that the token cannot reach interesting values over time, especially if the platform that gives tokens is developing a very interesting project.
The various methods for receiving tokens from an airdrop are many and often different, but however they do not go far from asking to sign up for a website rather than a newsletter.
Gambling
There are many websites that allow gambling with cryptocurrencies... like any casino you can place bets using your coins and try your luck through slot machines, virtual roulette or video poker. I don't want to dwell too much on this method of earning, because even if the earning possibilities can be multiple, the risk is very high!
Think carefully before embarking on this path.
Bonus stage... BRAVE browser
Did you know that you can also earn simply by surfing the internet? Well with Brave you can do it!
Brave is an open-source browser based on the Chromium project. Brave allows users to be rewarded in Basic Attention Tokens (BAT) for each sponsored ad they decide to watch. Users receive 70% of the incomes from the ads. The gain depends on the number of ad you are offered to watch while you are surfing the internet, and it's not a heavy job.
Earnings are low, but if you are a content creator like a youtuber, you can sign up as a verified Brave content creator. In this way you can receive BAT by your subscribers, followers or reader so you can significantly increase the number of tokens in your wallet.
You can download Brave here:
We are at the end of this list, if you know other methods of earning crypto, please post them in the comments!
If you want to earn EOS or XLM through Coinbase Earn follow these links:
Free EOS
Free Stellar
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