Earning cryptocurrency: an overview of methods

Cryptocurrency is a new way of earning that has not yet been fully mastered. There are options that require large investments, and there are free ones. One way can be risky and the other relatively safe. If you want to understand all about how to earn cryptocurrency, an overview of different methods is here for you. If you want to dive deeper, please go to https://globalcryptoexpert.com/university/earning-crypto/

Passive ways of earning cryptocurrency

Usually, earning does not require active action. In such cases, crypto is simply bought, invested and that’s it. All that remains is to monitor and sell it in a timely manner. Let’s consider the main such methods.

Proof-of-Work (PoW) cryptocurrency mining

The Proof-of-Work algorithm appeared along with bitcoin and was used to mine the latter. To mine coins, it uses the computing power of devices from the processor to special machines tailored to the specific task. This method is profitable but requires investments and compliance with a number of conditions.

Staking

Staking consists of storing cryptocurrencies in a wallet. Thanks to them, transactions in the network are provided, and the owner of tokens receives remuneration for it. The operation of such a system is based on the Proof of Stake (PoS) algorithm.

Many cryptocurrencies have a huge minimum threshold. In order to get the interest, you need to overcome this barrier, which not everyone can afford. Therefore, similar to mining, there are special pools that pool the funds of several users to participate in staking.

How to earn crypto from a savings account

How to earn crypto from a savings account

It is easy to earn with interest accruals through deposits on exchanges. Like with staking, the risk lies in price volatility, although the annual interest looks solid. The difference with staking is that the latter provides transactions with an algorithm, and deposits are simply used to issue credits.

Make money buying cryptocurrency

Earning crypto can also be done through traditional speculation. The idea is to buy cheaper – sell higher. There are many techniques that tell you how you can and should trade. But in all cases, you will need an initial account and a full understanding that after a couple of unsuccessful trades, that account will be gone.

Cryptocurrency giveaways

Airdrop is an opportunity to get free crypto with good potential. Companies issue their token and give them away to participants of their projects to popularize them. That is you need to perform certain actions, which are usually purely promotional in nature. Such tokens are worth very little at the start because you won’t get much for doing simple tasks. The benefits here are seen in the long term.

Active ways of earning cryptocurrency

Active ways of earning cryptocurrency

Passive methods require investments, but otherwise, you will not earn much from them. The antipodes will be ways that require an active investment of personal time, but not money. Usually, the payment is for viewing advertising. The only difference is in its presentation and in the approach to its viewing.

Let’s pick up a couple of options:

  • Games. There are pages full of ads, with some kind of primitive game. The user plays and gets crypto for it. 
  • Tasks. Special services (busses) offer pinpointed visits to pages, clicking on links, participating in polls, leaving reviews and comments, installing applications, etc. 
  • Faucets. It’s a kind of page with ads, but to get the reward only need to make a captcha. But there is a timer on such action and it cannot be done without interruptions. Therefore, there are usually many different cranes used.

Conclusions

It is possible to earn crypto online, even for free. But no free method can replace a full-fledged job, even taking into account the potential rise in the price of crypto. For worth earnings, you need investments. Experience is also necessary so that these hypothetical earnings will not become a real loss. Experience requires basic information, which is given in this article on how to earn cryptocurrency, and an overview of methods.