The price of blockchain assets has been steadily proving itself to be worthy of mainstream support.
Bitcoin and other tokens have been rallying hard this week, so I decided to respond with some content.
During this bullmarket, it is important to understand the avenues that one can take to earn cryptocurrency.
I have personally taken the liberty to research these seven methods of earning to present verified results for your reading pleasure and financial advantage.
7 Ways to Earn Crypto
- Mining: Mining involves using computer power to solve complex mathematical problems that validate transactions on a blockchain. Miners are rewarded with cryptocurrency for their efforts. However, mining can be resource-intensive and may not be profitable for everyone due to the high energy costs and specialized equipment required.
Mining uses a blockchain algorithm known as proof of work to mint tokens whereas, Hive uses an algorithm called Delegated Proof of Stake to mint tokens through social verification and engagement.
This means that actions on Web 2 platforms (Facebook, Instagram, etc.) that support content creators (likes, comments & shares) are now monetized to support both creators and supporter's aka curators without corporate sponsorship or millions of views.
Most home computers aren't going to make a profit with mining but gaming rigs with high end graphics processors can earn and profit depending on your energy costs.
You can test your systems mining capabilities using this free miner from unmineable
You may also be interested in ASIC mining which is more expensive & profitable but I don't have any experience with it so I would have to recommend you seek info on that elsewhere.
- Trading: Cryptocurrency trading involves buying and selling digital currencies on exchanges to make a profit from price fluctuations. This method requires knowledge of the market and trading strategies.
Several centralized exchanges even offer rewards for deposits and consuming their educational content for various blockchain projects.
I use crypto.com because they allow me to use a visa backed debit card tied to USD stable coin.
They also incentivize trading with all kinds of contests, missions and rewards.
Use my referral link https://crypto.com/app/9gq4zhehun to sign up for Crypto.com and we both get $25 USD 🙂
- Staking: Some cryptocurrencies use a staking mechanism where users can earn rewards by holding coins in a wallet and supporting the network's operations. Staking usually requires locking up a certain number of coins for a specific period.
Almost all blockchain projects offer some form of staking within their ecosystem.
On HIVE since our token is minted through social content curation the staking term is called powering up and allows you to monetize the upvote/like engagement on the platform.
Many projects on HIVE like our famous NFT Trading Card Game; Splinterlands, offers some fantastic staking rewards for their SPS token giving players a passive income with access to gameplay earnings.
HBD Savings could also be considered a form of staking with the best stablecoin APR that I know of.
You can earn 20% APR for holding the Hive Backed Dollar in Savings!
- Airdrops: Airdrops are a way for cryptocurrency projects to distribute free tokens to holders of a particular cryptocurrency. Airdrops are usually done to promote a new project or reward existing users.
Unfortunately, huge airdrops have pretty much died out since the last bullmarket when Splinterlands released their governance token; Splintershards($SPS).
Currently I know of one amazing NFT airdrop available and its actually available for claim every day on dCITY just follow my guide to make your claim.
- Freelancing and Microwork: Some platforms pay in cryptocurrency for completing tasks or freelance work. Websites like Upwork, Ecency, and Bitwage offer opportunities to earn cryptocurrency for work.
Although using Ecency isn't exactly freelancing it is technically a form of microwork with rewards.
By using the Ecency frontend you can gamify/monetize every single social engagement on Hive as a form of microwork.
Ecency points aren't cryptocurrency, but Ecency allows you trade them for post promotion and boosting+ which is a delegation of HP used to monetize curation.
Sign up using my referral for Ecency and receive points as a reward!
- Content Creation: Platforms like Hive & Publishox pay content creators in cryptocurrency for posting and sharing content.
If you offer any type of service or product then creating content will allow you to monetize the act of advertising this service which is a win win.
Even without a service or product I highly recommend you introduce yourself to the blockchain community using the introduceyourself hashtag.
Be sure to provide a decent amount of effort into allowing the community to connect with your post and you will probably be successful in receiving a fair reward to onboard your account.
If you are already a content creator with an audience, you will be highly valued and rewarded here for onboarding new users.
- Affiliate Programs: Some cryptocurrency projects offer affiliate programs where users can earn cryptocurrency by referring others to the project or platform.
Sign up for HIVE using my affiliate and try your luck with writing content or post your video and vlog about it.
Start earning today and tell your family and friends to have them sign up under your affiliate link to start earning as well!
Earn 3% of Posting-Rewards from your Referral on supported dApps.
https://hiveonboard.com?ref=rilo
Bonus:
You can also earn by playing blockchain games with free to play rewards or invest into other games and potentially earn even more.
The best Free to Play game right now is Gods Unchained where you can earn about $200 per year in the $GODS token if you can manage to play and win a fair number of games every day.
Gods has been around for a few years so you may have heard of it but what about some unknown gold?
A free to play game that you probably haven't heard about is on Hive and was produced by the developers and team
Introducing my favorite platformer to save the world from the alien invasion:
The hive platform allows this game to rewards players with $HBD by using weekly post rewards for the game's leaderboard payout.
All players are entitled to a percentage of the rewards based on their final score so it's a great way for new players to start stacking some tokens.
Thanks for reading and I hope to hear from you to share some beer and pizza in the comments!