Cryptocurrency is a type of digital currency that doesn’t rely on banks – or any other central authority for that matter. It enables anyone and anywhere to send and receive payments. Currently, cryptocurrency is a hot topic not only among investors but among regular people and in popular culture as well. This might leave you wondering if you, too, could earn it and how to go about it.
If you want to join the crypto movement, there are a few things you can try. For starters, you can try buying and holding it, mining or staking. Then, there’s also the possibility of accepting free cryptocurrency payments, starting a freelance job that will pay you in cryptocurrency or trying gambling sites and games that accept and pay out in crypto. You’ll need to stay creative and imaginative about your choices, but patience and an analytical approach should give you good returns.
Here’s more information about the best five ways to start earning cryptocurrency:
Try Gambling or Gaming
Plenty of gambling sites accept and pay out cryptocurrencies. That’s why if you’re a poker enthusiast or you enjoy roulette, you can try to win some coins this way. Of course, in gambling, the house always wins in the end, and you’ll need to be prepared for both wins and losses, as it all boils down to how lucky you get.
You can also go further and try gaming beyond casino games. The cryptocurrency gaming industry is worth billions of dollars, and there are even digital economies that pay you for playing. There are plenty of play-to-earn games online. They aim to allow players to enjoy the gameplay, complete tasks or quests and receive in-game currency. This currency can later be transferred to a cryptocurrency wallet, used to purchase NFTs, or even sold and traded. If that’s something you’re interested in, check out Gala Games reviews or others NFT games – given the versatility and vast choice, you’re sure to find something suitable.
Even though these are no longer the days when all you needed to mine bitcoin was a regular desktop computer or a decent GPU setup, it doesn’t mean that you’re late to the mining party. However, if you want to mine bitcoin and do it profitably in today’s world, you’ll need to do some thorough research and invest money into a rig designed specifically for mining, which, apart from purchase costs, may increase your electricity bills.
If that sounds like too much for you, the good news is that other cryptocurrencies are less competitive. Therefore, it’s still entirely possible to mine them with the retail hardware.
Buy and Hold
Buying crypto is one the easiest ways to start earning it, and there are plenty of places to do it. For instance, you can choose to buy with well-known international names such as Coinbase, or, if you’re a complete beginner, you can try eToro and their trading academy.
Once you’ve bought your crypto, you need to hold it to sell or exchange it later; it takes some time to get a grip of different factors influencing cryptocurrency fluctuations actually to be able to earn something from the transaction, and then, not everything can be predicted.
Staking involves using your crypto to verify transactions on the blockchain network. You can lock or stake the coins you already hold and then generate more from block rewards and network transaction fees.
In some instances, you’ll need to meet a minimum threshold requirement before you can stake – the exact amount will depend on the coin. From a technical perspective, staking can be easier than mining and, if done sensibly, can generate good passive income.
Marketable skills such as coding, graphic design, or content writing might help you pick up extra work online. Plenty of websites are there to help put customers in touch with freelancers, which enables those with time, experience, and useful skills to earn some extra income. Nowadays, more and more sites decide to go with the times and support crypto payments.
You can now safely use your spare time to earn some crypto, which is an excellent way to get you started. Check out sites such as BitGigs, HireBird, or Boon Tech and see what your possibilities are.
It’s safe to say that cryptocurrency is here to stay. Not only does it have a history of providing strong returns, but its adoption cycle is still ongoing and developing, so the whole market has a long way to go.
Those who want to try their chances can consider mining the cryptocurrency of their choice, staking it, or buying and holding. If you have some special skills and a bit of professional experience, you can choose to become a freelancer and sell your services for crypto. Avid gamblers or players also have something to choose from, as many gambling sites and play-to-earn games offer the possibility of earning cryptocurrency.
Good luck and have fun!