Now let’s get to the meat of this report. Hopefully you’ll be much better informed on what is required of you to deal with cryptos, because it’s not always simple for someone who has never done this before.
Other than mining or buying cryptocoins directly, there ARE other ways to make money with crypto.
Faucets
A faucet in the alternate currency world is basically a website that gives you a small amount of the coin for free, whether because of the advertising revenue they have on the site, various clicks they get, or because they are interested in promoting their crypto-currency & if someone has a stake in that crypto-currency then they are more likely to promote it.
Personally, I stay away from them. I liken faucets to the “earn credits by surfing” programs, or “complete surveys to earn points” programs. They just seem like scams to me. Just take a quick look at most faucet sites. They are spammy, full of ads, and my personal opinion is that they are a complete waste of time.
What free coins you get are probably worth a fraction of a cent, and if you want to spend hours per day on the hundreds of faucet sites (or cryptocoin lottery sites) trying to earn maybe a buck, then by all means go ahead. I’ve got better things to do.
I really can’t comment any more than that, and this is just my personal opinion since I have not looked into it more, but my time is valuable and I’m certainly not going to waste it on faucets. Do research and form your own opinion, though.
Cryptocurrency-Specific Ways to Earn
OK, that probably sounds a little vague. But if you look at the list of cryptocoins, they all have different purposes.
For example, Ripple is actually an internet protocol for making financial transactions. So it’s like PayPal, but it’s not controlled by any organization. As HTTP is the protocol for displaying web pages, RTXP is the protocol for making transactions on the internet. And the market cap for Ripple is over $2 billion.
They even have altcoins that serve different functions, such as:
Tickets – also called LotteryTickets, it gives random rewards for each block solved
Sexcoin – an altcoin that can be used for adult websites and services
Craftcoin – used as portable in-game currency for Minecraft servers
Devcoin – to support open-source projects by programmers, hardware developers, writers, musicians, painters, etc. worldwide
Ok, so pay attention to that last one. More specifically, because it supports WRITERS.