As COVID-19 restrictions continue to keep people home, affecting their work and income, it's no surprise that more and more are looking for ways to make money online. Although there are many traditional methods, more are turning to the cryptocurrency scene to achieve their monetary goals. Before you read through the variety of options that I have collected, understand that I have not tested all of these. Much of my writing goal is to help individuals know of the numerous options out there. Arguably, some methods come with clear risks well others are harder to identify. I have done my best to explain both the income, speed and risks associated with each option. Whatever you do with this information, please further it with your own research.
Buying and Holding
Income - Varied
Speed - Slow
Risks - Low
Buying and holding is one of the easiest and safest ways of increasing your wealth with crypto. Although this does take time for the asset to appreciate, individuals have made fortunes with proper patience and picks. Sign up for an exchange, deposit, or transfer fiat in, buy the coin, and you're done! Some individuals feel completely fine leaving their crypto on the exchange apps but depending on the one you are using it can be lost! Just make sure that you are purchasing using a reputable exchange, and if you are worried, simply transfer your new coins to a secure wallet.
Mining
Income - Varied on computing power, but the average is low
Speed - Slow
Risks - Low
For transparency, I have not done much mining myself. However, I have seen individuals do it first hand and understand how complicated it can become. For the individual looking to make passive income, mining was a perfect way. However, with so much competition in the mining scene today, it can be a hefty start-up for any real profits. Most individuals do this through a mining pool or a mining cloud. They are very similar, and a basic concept is a collective group of miners combining their resources and computing power to increase their chances of a reward. The more computing power you offer to this pool, the more you make. See why it can be challenging to make much now without putting a lot in at first? If this is a route you'd like to take, make sure to do lots of research and try to find someone with experience to explain their knowledge on the subject.
Just some of the cryptocurrencies you can mine:
BTC - Bitcoin
ETH - Ethereum
ZEC - ZCash
XMR - Monero
DOGE - Dogecoin
Phone miners:
These are the traditional coins for mining, but new projects aim to make mining easier for all. Some of these projects are the Pi, Bee network, and Cloud Earning PHT. Each of these apps has a mining option on them to accumulate their currency. Understand that much of these are still in the beginning stages and will not be fully listed for some time. However, the earlier you become involved, the more you are rewarded and the longer you are awarded. Additionally, non of these require any payments, do not drain battery power or data, and need to be turned on once every 24 hours or seven days. If you are interested, links are below, and you will receive a small bonus with each.
I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 10 million members worldwide. To claim your Pi, follow this link https://minepi.com/DevoonB33 and use my username (DevoonB33) as your invitation code.
Here is my referral link for BEE Network. Get 1 free BEE when you join BEE: devoonb33. Download at https://bee.games/download.html
Join Cloud Earning PHT! https://play.google.com/store/apps/details?id=com.cloud.earning Sign up now and get 200 PHT Bonus. Use my code and claim your bonus: f2bn3gka
Trading
Income - Varied
Speed - Fast
Risks - High
It should be no surprise that people make money trading cryptocurrency. This strategy can work well with cryptocurrency due to its volatile nature. However, it can be hazardous for that same reason. I have done some trading myself, both making and losing money. I try not to be greedy with my trades and make profits even if they are small, as it helps to improve my overall portfolio over time. There have been times I have gotten burned, and that's why it is always imperative to have a plan with trading. Plenty of services out there can help you analyze the prices and volatility of crypto to improve your chances. This strategy is another one I would not recommend without further research and understanding.
Debit and Credit Rewards
Income - Varied on Spending
Speed - Slow
Risks - Low
Websites like Crypto.com are now offering debit and credit cards with cryptocurrency rewards. Much like the traditional travel rewards, individuals will receive crypto and cashback for purchases. There are initial price costs associated with the cards linked to the percentage of rewards received on spending. However, some come with 100% back on Netflix and prime purchases, making it even more tempting for the savings. I have yet to get one, but as soon as I do, there will be updates given!
Staking
Income - Varied on the amount staked
Speed - Slow
Risks - Low
An easy way to think of staking is like getting interest in a bank account. You put your cryptocurrency into a wallet, and you stake it to support the blockchain. The more you have in there, the more you'll make off of it. Much like the previous methods, this one takes money to make money. This strategy is one of my favorites as it is a mix of the buy and hold approach but with the added benefit of staking rewards. If done correctly, you will get the capital gains overtime on the coins, and you will gradually increase your holding volume. It's the best of both worlds. However, depending on the currency and the staking option, your coins are locked up. If that is the cause, you may not be able to access them for an extended period no matter what. Just make sure to understand what you are going into and what type of options you have with it.
Examples of some coins with staking options:
BTC - Bitcoin
CRO - Crypto.com
USDT - Tether
BNB - Binance.com
DOT - Polkadot
ADA - Cardano
XTZ - Tezos
Faucets
Income - Low
Speed - Slow
Risks - Low
Faucets are one of the most well-known ways of making free cryptocurrency. That being said, they are arguably one of the slowest and most monotonous ways of doing so. There have been a few websites I have looked through that have stated the ability to win larger amounts, but I have yet to ever have it or see it happen. That is not to say that it is not valid, just explaining my experiences. From any of the ones that I have tried, they do not seem worth it to me. However, if you know of any better ones than the ones I list, please let me know in the comments. Thank you.
http://cointiply.com/r/Yn9k0 - This is both a faucet as well as a Microtask service. You can either get crypto from the faucet or through completing the tasks. It also comes in an app. Either way, use this link to receive a bonus upon sign up.
http://bonusbitcoin.co/?ref=CF3C4F69FD45 - Another faucet that will give you access to Satoshis.
There are plenty more out there, but again, it's never really been something I've overly been into. If anyone has any better ones, that would be appreciated.
Airdrops
Income - Varies, but some have received drops that become worth hundreds later on.
Speed - Slow
Risks - Low
The purpose of airdrops is mainly for promotion. New projects and coins will have tasks such as following their social media, sharing posts, etc., that are linked to the chance to apply for an airdrop. Honestly, I have never tried this method myself. Not that I haven't been interested, it just hasn't been something I have pursued further. If anyone has experience or knowledge to share on it feel free to message me or comment. I have included the websites I know of, but again no experience with them, so be cautious.
Micro Jobs
Income - Low
Speed - Slow
Risks - Low
Micro tasks are another one that is well known in the crypto scene. I gave an example of this earlier with cointiply, where they give you coins for tasks like surveys, downloading apps, watching ads, etc. Understandably these are small rewards but, of course, can add up over time. It's a prolonged process, much like faucets, but it's 100% free, so that's a bonus, right? If you do choose to do this, there are tons and tons of apps for it.
Accepting Donations or Payments in Crypto
Income - Varies
Speed - Varies
Risks - Low to Medium
Another helpful way that individuals can make more cryptocurrency is by accepting donations and payments this way! If you have a side hustle or gig that you usually do online, more and more websites allow crypto. This might just be a simple click away to activate on your shop. Much like users can receive donations on Twitch, Patreon, etc. you too could receive gifts for your work. Again, this is not a given, but I have been gifted crypto in the past for my work and sending small gifts to others. Just make sure that your addresses are correct, and you're good to go! If you would like to set this up just follow my example below. I mean you can use my address for your tips, but I'm guessing you'll want to change it, lol.
Bitcoin donations: 39GCfNFgoWkqA3i46m1yZ6z8PkuEZqouHB
Ethereum donations: 0x5a6ab89cc6ab2b3abcf089f2c1808ffd346b728a
Tether Donations: 0x91c67e5e32f5275be32b9f90f5c835736a5355bd
Dogecoin Donations: DDKxT5JXGALRRrh3o9FBbS68cirvwwKr72
Referrals
Income - Various but can be surprisingly good
Speed - Usually happens quickly after the referral requirements are met
Risks - Low
Another one of my favorite ways is referrals. Pretty much every single app or service you sign up for will have some referral bonus. The best part is this usually helps you and the new sign up. Most of the time, though, these come with requirements like the other person needs to spend x amount of dollars or put in x amount to the app. Sometimes it can be as soon as they sign up; whatever the case, it's worth it to refer as often as you can. All links in this article are my referral links, and most of them will grant you and me a bonus, so thank you if you use any at all.
Gambling
Income - Varies
Speed - Fast
Risks - High
Gambling is not something that I often do myself or that I would recommend doing. There are websites and services that I have been told about, but I have never thoroughly tried any. If this is something that interests you, there are tons of ads and services to help you out there. Just understand that with any gambling, you can lose. There are obvious risks associated with and some apparent significant gains to be made. But I prefer not to rely on luck. If this is something you have done or decided to do, let me know some stories or experiences in the comments.
Brave Browser
Income - Low
Speed - Slow
Risks - Low
When using the Brave Browser, you can slowly accumulate the Basic Attention Token (BAT). You will be rewarded in the form of BAT for viewing ads like you usually would. Additionally, you will get a random token at times, adding to your overall balance. This balance adds up over the course of a month and is then paid out. At this point, you can either save it, give it to creators as a tip, or withdraw it from the browser. This reward isn't the only reason to use Brave, though. When looking at their page, they argue that they are 3 to 6 times faster than Chrome, use 66% less memory and consume 33% less battery on cell phones. So, you not only get rewarded for using it, but it is also a superior product. If you're interested in downloading it, just click the link below, transfer over your bookmarks from your other browser and start using it. I also suggest that you go into the "Learn more" option of the browser and set the ads to a maximum of 5 per hour. Changing this allows for more ads to show up on the side, which = more rewards. The ads are not huge and in your face either. They usually go unnoticed.
Social Media, Blogging
Income - Varies but can be done on multiple creating more
Speed - It can be slow to begin, but if you create a fanbase, this increases quickly
Risks - Low
Another one of my favorite ways, obviously since you are reading this on one of the services, is writing. Numerous websites offer cryptocurrency for either your attention or your contributions to the content. This content doesn't need to be crypto related either. There are tons of people who write about their lives, experiences, investing, and much more. Whatever you choose to write about, there are tons of options to pick from. I have been going about learning more about each to allow for a greater understanding to write on. Below are the ones I have tried, a brief description of it, and links to sign up. Feel free to shoot me a follow on any of them, and I can make sure to do it back!
PublishOx
Personally, I love PublishOx. The service is clean and easy to use. A few things about it are that you get five posts per day, and each of these posts can make money based on tips. These tips come in the form of Ampleforth (AMPL), Farm (FARM), and Ethereum (ETH). The Basic Attention Token was used prior but has been replaced by FARM. There is tons of content added to this daily, both on my page and others. If you enjoy writing or just learning more, I highly recommend it.
https://www.publish0x.com?a=8mepgmjrdM
Read.cash
Another website that allows individuals to write and post on different topics well being tipped by others. I am relatively new to this one and have yet to go entirely in-depth with it, but it seems like a good service. You will be tipped in Bitcoin Cash, and I believe the minimum withdrawal price to be $5. Below is my.
https://read.cash/r/Mr.B-Education
Floyx
You guessed it, another writing and blogging platform. However, this one has more of a social media feel than the ones listed prior. You can make small daily rewards for commenting and liking other user's content along with being tipped for your content. These tips come in the form of OKCash (OK). If I'm honest, I don't feel like this one has as much content as others. That does not mean I don't think it's worth it, though. So far, everyone on it has been super responsive and friendly. Plus, there are some excellent articles to be read in this, along with the others.
https://www.floyx.com/profile/mrbeducation/posts
Torum
This one is very much like traditional social media. It's more about status updates, interacting with other users, and just having a profile. There are daily rewards for different tasks like signing in, commenting, liking, posting, etc. You can be tipped by other users for the things you post, but this doesn't happen as often as others id say. The currency is XTM and is not currently listed but has big aspirations. The creators are very active on the platform and responsive to users. I use it daily, and so far, I enjoy it a lot. If you'd like to sign up link is below.
https://www.torum.com/signup and use Code: devoonthedog
LeoFinance
Again, another blogging platform to be paid based on your content. I like Leo both for the rewards and content. Similar to the others, you just post content to your blog, and people tip you based on if they like it or not. The tips do not become paid out immediately and instead take seven days. However, I have been tipped quite well on some articles and I have found some helpful articles to read. Whether you like to write or read, it's another gem for sure.
Steemit
Steemit is the newest addition to my blogging accounts. I have yet to really use this one, and so far, traffic has been far slower compared to my other blogs. That being said, sometimes things take time! I like reading through the articles either way and it adds to another place for me to share. If you have more tips or experience with it, id love to hear!
https://steemit.com/@mrbeducation
As you can see, there are many ways to make cryptocurrency online, and I even missed a few! Whatever your goals are, I hope that something in here was informative to you or helped you in some way. I strive to provide quality content for people to read that enables them to improve or learn more. If you did find value in any of this, please feel free to like and follow the blog for more. Also, if you do happen to have any other useful ones that I missed, feel free to message me or comment! I'm always looking to add more to my bag of tricks and knowledge. Thanks for taking the time to read.