How to Earn More Cryptocurrency: 5 Safe and Easy Ways
Earning crypto is a lot like going on your first date. You don’t want to get it wrong, but have no idea where to start. There is way too much advice out there on this topic and that might complicate your relationship with cryptocurrency.
It can be a daunting task sifting through all the methods on how to get crypto. Too many beginners have found themselves stuck in the mind-numbing paradox of choice.
Fortunately, all you had to do was look at the right compilation. We’ve handpicked five most effective ways to earn more cryptocurrency, most of which don’t involve any trading at all.
Creating Content
If you’re a creator, chances are you are already monetizing your work. Whether or not you have a huge following, someone out there is enjoying your content and is willing to pay for more.
Most social platforms provide a revenue stream for its contributors, but the real money comes from subscriptions. Sites like Patreon allow fans who appreciate your existence to donate to you directly. So, instead of cash, ask your followers to send you crypto.
The problem with this method is people use different coins, and what they decide to donate may not be the kind you want. Technically, you can specify what currency you accept, but that would risk narrowing your earnings.
Not a creator? Not a problem. The term “content” has a sprawling territory in the urban dictionary. Sometimes, it’s what the viewers deem entertaining, and there are many ways to entertain.
You can earn cryptocurrency with as little effort as making a reddit post or comment. The amount of upvotes can eventually convert into cold, hard coins. It’s a bit more grindy than traditional means, but requires way less creativity and no financial investment.
Completing Microtasks
If you don’t have time to pump out fire content, but still want to put in more effort than a Reddit post, then microtasks are perfect for you.
Remember those middle school years when you had to do chores for some extra cash? Who would have thought you’d be doing it again – on the internet.
Microtasks are digital errands you take on in exchange for a small amount of crypto. They’re usually quick and mundane activities you can complete many at once for steady gains. It can be anything from testing out an app to filling out a random survey on a random topic.
You can find microtasks on most platforms that have anything to do with cryptocurrency. Most of the time it’s companies who want to promote new products or carry out sponsorship deals for other products. Either way, you’re the only party with 100% profit in this transaction.
Cryptocurrency Airdrops & Giveaways
Airdrops are technically giveaways, but not all giveaways are Airdrops. When a new cryptocurrency emerges, it needs to let everyone know to garner investments.
What’s better than to spread awareness through its own users. Airdrops are free amounts of a new coin given to whoever wishes to be a part of its blockchain.
You often only need to sign up to receive one of these Airdrops. At most, you’ll be asked to make a post on social media about the coin, which also requires little effort. Once completed, you’d become a new owner of a potentially next big currency.
This method is unpopular among intermediate investors or advanced traders due to the lack of certainty. They would argue that the value of whatever they’re giving away is unknown and you could be wasting your time or, worse, getting scammed out of what you already have.
The thing is, cryptocurrency is one giant and lucrative uncertainty. It literally has “cryptic” in its name. No one believed in bitcoin until it broke $10,000. Most people also slept on Ethereum like they’re sleeping on Dogecoin right now.
As long as none of your own money is involved, it’s worth a shot.
Cryptocurrency Earning Programs
Don’t mistake this with Yield Farming, which is a slightly more advanced technique. Joining a cryptocurrency earning program is much easier and doesn’t compromise access to your coin.
These programs are similar to a savings account where you deposit cryptocurrency and watch it grow. The difference is you can trade with it and withdraw any time you feel like it.
The biggest advantage of an earning program is flexibility. You don’t have to commit your crypto or worry about fees while trading. Just drop it in the account and let the exchange take care of the rest. It can’t get more straightforward than that.
How much you earn depends on who you let keep your coins. Some give high returns on bitcoin while others give great returns on newer coins. If you decide to go this route, it’s best to do a bit of window shopping first.
Cryptocurrency Staking
This is a type of mining, but not really – all depends on who you ask. Many cryptocurrencies, including Ethereum are flocking to a verifying method called Proof of Stake (PoS.) It’s designed to replace traditional bitcoin mining, which costs excessive amounts of energy.
Once having earned some crypto from any of the above methods, you can go ahead and deposit it to a blockchain network that uses PoS. This will serve as a ticket to a validation concert where all you have to do is verify the legitimacy of a transaction.
When that’s done, you get a reward for your hard work in the currency that circulates that network. The more coins you have on deposit, the higher chance you’d grab the next transaction.
Final Thought
Earning crypto isn’t always fun, but it sure isn’t always hard. Remember that the network needs you just as much as you need it. Don’t let the tiny decimals discourage you from saving up; every bit counts and they accumulate faster than you think.
While free is good, be mindful of get-rich-quick schemes or coins with questionable origins. If something is too good to be true, most of the time, that’s the case.