What are the ways to earn cryptocurrency? The most traditional way you might know is buying, holding, and then selling when the market goes up. If that is the only way you know how to earn crypto, then you are wasting a lot of time.
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Disclaimer: The information provided in this cryptocurrency post is for informational purposes only and should not be considered as financial advice. The cryptocurrency market is highly volatile and involves inherent risks. Readers are advised to conduct their own research and consult with a professional financial advisor before making any investment decisions.
What are the ways to earn crypto?
There are many ways to earn crypto nowadays, both with and without investment. If you want to know more, continue reading, and also don't forget to follow me so you will always be notified when I have a new post.
Ways to Earn Crypto Without Investment
Content Creation
If you are reading this from a Decentralized Social Media platform, you might already know that creating content here earns rewards. For the sake of those reading this from my Techcheckmag.com site
Did you know that you can earn crypto by creating rewarding content on Decentralized Social Media? Not all Decentralized Social Media platforms have a rewards system, so make sure that you pick the right decentralized Social Media Platform.
By creating content on these platforms, other users will see your post, and if they upvote it, you will earn a little reward if those votes have voting power. Just be patient because it takes time to build a reputation in the blockchain community.
Some of the platforms that have a reward system are the following: (Note: For the signup guide, click the names and it will redirect you to a tutorial page)
Not all of these sites are Decentralized Social Media, but they will still give you crypto rewards.
Crypto Mining Apps
There are some mining apps that you can download on your phone that will give you crypto rewards. I remember a few years ago, I was skeptical about Pi Network before. I uninstalled it on my phone, then late last year, someone I know was asking me if I have some because he is willing to buy it. I did not take my chance on it, and now the token already has value.
Yesterday, I was watching a video about another mining app. The coin has no value yet, but who knows what will happen in 2 years.
By Doing Tasks
Some online platforms will give you earnings in the form of crypto if you perform a task like following a certain social media account or liking a profile. These platforms reward you for viewing websites, following social media accounts, watching videos, viewing ads, answering surveys, etc. The rewards you get can be converted to crypto tokens.
Here are a few sites where you can get crypto rewards by performing tasks:
- Addmefast: Rewards you with points that can be converted to crypto if you perform a task. Farming here has no limitations.
- Cointiply: A platform that rewards you with coins after performing a task that can be converted to BTC and can be withdrawn to a crypto wallet.
- Brave Browser: By using the Brave browser, Brave will reward you with the token "brave" every month. This goes directly to your Uphold account and can be swapped for other cryptocurrencies.
Referral and Affiliate Programs
Some sites give you rewards if you refer others to their platforms. The most common sites that do this are crypto exchanges like Binance. Always check if the site you are using offers rewards.
Playing Free-to-Play Games
Some games allow you to earn small amounts of crypto even if you do not invest in their games. Just take note that those rewards are very small and it will take years to accumulate a significant amount. Unlike play-to-earn games that truly reward you if you buy assets. But still, money is money.
Ways to Earn Crypto With Investment
Holding
The most common way to earn is by buying and holding crypto until its value grows.
Playing Play To Earn Games
These type of blockchain games gives you rewards if you have an NFT asset that is needed to earn in the game.
Some Examples are:
Scalping
Scalping refers to a trading strategy that involves making small profits from frequent trades. Scalpers aim to take advantage of short-term price fluctuations and typically hold positions for a very short period.
Airdrop
Some cryptocurrencies, especially those that are just starting, give crypto rewards if you hold their token in your account.
Staking
Staking your crypto instead of just holding it in your wallet can earn you staking rewards that are usually given daily. I always look for crypto that I can stake in Binance, they offer flexible/30 days/60 days/90 days durations, each with different percentage rewards.
Market Maker
There are crypto tokens that can be used to obtain a market maker that will do the buying and selling for you. These are automated; you only need to put capital in it, and it will do the trading for you. I think Market Maker is best used during times when the market's flow is vertical. Dswap and Binance offer a Market Maker Tool that you can use.
Liquidity Pool
A liquidity pool earns through fees generated from trades executed on the platform. When users trade tokens within a liquidity pool, they pay a small fee for the transaction. These fees are distributed among the liquidity providers in proportion to their share in the pool.
Yield Farming
This involves lending or providing liquidity to decentralized finance (DeFi) protocols using your crypto assets. By doing so, you can earn interest or fees generated by the lending or trading activities on those platforms.
Futures Trading
Futures trading is often done on crypto exchanges and involves traders speculating on the price movements of a cryptocurrency. It can be a way to make money by correctly predicting the future price changes of these assets. In simple words, futures trading is betting based on your speculations of the market's direction. Register to Binance to learn more about Futures Trading
Mining
Mining involves dedicating computational power to secure the network, validate transactions, and earn newly minted tokens as a reward.
Running Masternodes
Some cryptocurrencies have a masternode system where participants provide and maintain dedicated servers on the network. By running a masternode, you can earn rewards for supporting the network's operations.