How to get into Cryptocurrency, without an actual investment.
Introduction:
Cryptocurrency is an increasing in popularity, by a lot. Many people are hopping aboard, and using it in different ways, everyday. However, a lot of people are skeptical and / or don't want to take it too seriously, they consider it a bit of fun. It is fun and quite enjoyable to play around with, but do not doubt it's potential.
I am going to be explaining ways that I have used to make some cryptocurrency, and then used it to try and make more. I have tested and can confirm that they all work, unless stated so.
Quick disclaimer: I am not a Crypto Guru and if you are more experienced than me, chances say that you are, then this is not for you. This is more aimed towards the other newbies out there, but you many not know of some of these! Thank you :P
Mining:
Whether you are in Crypto or not, chances are that you have heard of Bitcoin mining. Mining is the use of your GPU and / or CPU to add transaction records to the blockchain. You do not need the details but you can research them if you feel so inclined. You run software that enables your hardware to receive what they need to be able to do their thing. A great way to begin is to use the Nicehash miner. This has a benchmark feature built in so that you know what gets you the most BTC per day. Once you reached the minimum payout, you will get paid in BTC to your wallet. This is what I did to start off with, after that I switched to another miner so that I could primarily mine Zcash. A great run down of the new Nicehash software is right here:
Be careful whilst doing this though as it can cause you to damage your hardware. I left it on overnight, whilst I slept, for a couple weeks. I would not recommend doing this for this long, do it for aslong as you need to so that you can get started with other forms of money making.
Earn.gg:
Heard of it? Most likely not. Earn.gg one of those websites where you complete surveys, download apps, WATCH ADS and then get paid. The reason I capitalize the watching of ads is because that's what works the best. In my experience completing surveys NEVER works and downloading apps works.... sometimes. You can whack the ads on whilst you're asleep, browsing the internet, making a coffee, playing with your pet giraffe. You get the idea. Not only is watching ads just on your PC, but you can also download the Engageme.tv app for iOS and Android! (Engageme.tv is the site that runs the ads, you are redirected there from Earn.gg). All you have to do on a PC is click the link and let it work but on iOS / Android you have to create an account then link it to your Earn.gg account. You get paid 700 points (0.7 cents) every 3 ads you watch. You can watch ads on up to 3 devices. Watching more than one tab of them on the same computer won't work, however.
Would recommend giving it a shot! There is also a referral system so that you can make some money off of your friends earnings! Also, Earn.gg pays out in multiple ways! They are as follows:
Cloud Mining:
A lot of people in the cryptocurrency game will have heard of cloud mining. Many people like it but many people do not. Personally, I do not understand why you would not give it a go. It is essentially the same as mining on your own PC, except you don't mine on your own PC. You PAY THEM to mine FOR YOU. There are many scam sites attempting to rob you of your money. A scam site may not just be taking your money and not working but it may be that it works... for a short time. Most small sites will shutdown after a month or so, depends on when they have gotten what they want. So, what trusted sites are there? Genesis Mining, Hashflare, Hashing24, and EOBot are amongst the most reputable. Genesis Mining is my personal favourite with it only costing $0.15 per GH, followed by Hashflare with roughly $0.11 per GH. I, personally, have bought a $30 contract on Genesis Mining for 0.2 TH/s (200 GH/s) which gives me about $0.14 per day. Bitcoin contracts have no end, they are lifetime aslong as they are profitable (You can afford to pay fees / You have enough to actually get a payout, this may not be the case if the difficulty of Bitcoin mining sky rockets). My contract was purchases using crypto currency earned from mining. I have not bought a single pennys worth of crypto currency with real money, yet I've had about $45 worth (Educated guess) of cryptocurrency within 2 months I'd say.
Give cloud mining a shot but try not to get burned! Stick to sites like Genesis Mining, make sure to use referral codes of friends / family to get 3% off and give them some hashpower or Bitcoin, depending on what they have it set to.
Faucets:
Faucets are not a great source of crypto currency and take some effort to get the crypto currency from. That being said, they're great. Sites like the Moon faucets (Moon Dogecoin, Moon Bitcoin, Moon Litecoin...) build up amounts of the crypto that they serve and you can claim when you wish to. After you reach a certain amount, you can withdraw to an external wallet! Not too much to say. I would recommend these to be used with sites such as EOBot, which allows for very small amounts to be deposited and used to buy GH/s. (That's what I use them for).
Steemit:
Hmm, wonder what this is. Steemit is a new social media platform that allows for you to upvote peoples posts / comments so that you and them receive money. You can blog, upload videos, be funny, comment on others' work, and more to earn money! Follow people, upvote, post, comment and help it grow! If you are new to Steemit and would like a better understanding then check out this post made by a user; if it helps you then make sure to upvote it! https://steemit.com/steemit/@mindover/steemit-for-dummies-like-me-everything-you-need-know-to-get-started
Loaning schemes:
There are many loaning schemes out there, for cryptocurrency. Bitconnect is a particularly trusted and reputable one but I do not have any experience and if you are not investing then you won't either, for a while, due to it's minimum loan being $100 of Bitcoin. The principle is simple; give them money for a certain amount of days, they trade usually with the use of bots, they give you a certain % back of your loan hourly or daily (etc). What makes Bitconnect stand out is that you don't have to wait to earn your initial loan back and THEN get profit. Bitconnect gives you BACK your initial loan at the end of the time period stated in the contract you bought. Each day until that point, you are earning pure profit.
I, myself, have experience with HourPower.biz. HourPower does not give back your initial loan at the end of the contract and instead earns it back within the time period (72 hours for loans of $5-$500) and then earns some profit. I like it because I can USE it for a start, unlike Bitconnect, and it's quick. Within 72 hours you're done, unless you buy another contract within the time period of your first one. I could buy one now then tomorrow, I would get payments for both until my 1st one ran out but I would continue getting payments from the 2nd one that I bought until that one runs out. I like it, hopefully you will too. I have a seperate post about HourPower.biz, if you are interested in learning a bit more. I go into more depth and prove payouts (etc).
Market Trading:
Quite frankly, I'm no expert. I do not have much experience with trading crypto currency on the market because I do not think that I know enough about it to carry it out. However, I will tell you that it is an option for you to make some money, a lot of money, lose some money or lose a lot of money. There are many videos and posts about trading around websites such as Youtube if you would like to know tips and tricks or just the general idea of it. You can trade your BTC or Altcoins (Litecoin, Dogecoin etc) for others if it's value has dropped and you believe that it will rise. Quick example below:
1 Litecoin = 5 Ethereum, it used to be 1 Litecoin=3 Ethereum.
You trade 1 Litecoin for 5 Ethereum, because Ethereum's value dropped and it may rise.
Ethereum's value rises and now 1 Litecoin = 2.5 Ethereum.
You trade the Ethereum back to Litecoin, because Litecoin is more stable / You like the name more
You now have 2 Litecoin because Ethereum's value DOUBLED whilst you held it. Lucky you!
That was an off the head example, nothing stated there is ACTUALLY true other than Litecoin could be considered to be more stable over Ethereum. Do you get the idea? I hope that made sense.
The End:
Thanks very much for reading and I hope this may have helped you in some way! I may have missed things out, I was sure to. If you would like some more information on any of the topics then add me / message me on:
- Steam: steamcommunity.com/id/baylisslad
- Twitter: https://twitter.com/BaylissLad
Once again, thanks for reading!!