JaYCryptocurrencies are everywhere and people are always looking to grow their portfolio, so are you looking for ways on how to earn cryptocurrency? Well, there are many methods available to anybody that wants to earn tokens and coins, apart from just mining.
Today we will try to cover some different ways to earn cryptocurrencies. Let’s start!
Related: 30 Top Cryptocurrency Terms You Should know in 2021
How to Earn Cryptocurrency
Mining
Cryptocurrency mining is the most well-known and power-intensive method to earn cryptocurrencies. Mining is the process of solving complex mathematical puzzles on the cryptocurrency network to add more coins into circulation and earn mining rewards.
Although it might sound very easy mining requires a robust set of hardware to stand out and perform the job successfully. The crypto network provides a reward to the miner who completes the calculation first. Remember that mining requires a considerable amount of electricity. Therefore, you might also want to bear the additional expenses associated with the process.
Trading
Trading happens to be the most convenient way of earning cryptocurrencies. Although to earn profits from your investment and increase your portfolio you need to research and learn trading strategies like Arbitrage Trading, Day Trading, Copy Trading, Swing Trading, and Scalp Trading.
Staking
Staking is a widely used method to passively earn cryptocurrencies.
Since mining cryptocurrency is resource-intensive, not everyone can afford to invest in mining hardware and resources.
How does it work? Proof of Stake chains produces and validate new blocks through the process of staking.
Staking involves validators who lock up their coins so they can be randomly selected by the protocol at specific intervals to create a block. Usually, participants that stake larger amounts have a higher chance of being chosen as the next block validator.
You can start earning passive income through staking, which involves locking up your crypto to act as a validator in a decentralized network and earn rewards for validating transactions.
Yield Farming
Yield Farming opens up new possibilities for earning a passive income.
“Yield farming” is a reward scheme that’s taken hold in the DeFi crypto world over the last year.
It is a process of earning rewards for locking up your crypto in a Liquidity Pool designed and controlled by smart contracts.
Yield farmers will use very complicated strategies. They move their cryptos around all the time between different lending marketplaces to maximize their returns.
If you know how to analyze the DeFi space well, Yield Farming may provide you with some great returns. However, the amount of rewards you earn from Yield Farming is not precisely calculable.
Blogging
Blogging is an effective way to earn crypto if you have sufficient knowledge about the crypto ecosystem and good writing skills.
You can start a blog or join other established blogs or publications as a freelance writer and use the platform to share your knowledge.
Once your blog has a decent number of followers, you can explore different ways of generating income. For instance, you can recommend some crypto services to your readers and gain affiliate commission on sign-ups.
Bloggers can also choose to display advertisements to maximize their earning potential.
Publishing a paid or sponsored content is another excellent source of generating revenue.
As a freelance content creator, you can also choose to get paid in crypto for your services.
Some crypto platforms like Publish0x and Read. cash pays you for publishing content.
Blogging is a gradual way to earn money to establish your brand as an authentic source for crypto-related questions.
Airdrops
Crypto airdrops are a great way to earn relatively new tokens as rewards for performing certain tasks.
You have to keep a lookout for potential crypto airdrops and sign up for them. After that, you may have to give the wallet ID and perform certain tasks like joining a Telegram Group or encouraging your friends to participate in an airdrop through tweets, retweets, and social media posts.
Crypto airdrops are designed to increase popularity and create awareness of a new coin or token.
You can consider participating in airdrops as a way to earn new coins or tokens that may not be listed on major exchanges yet.
Referrals
Referrals are perhaps the most effective way to earn crypto if you have many friends and an influential network.
For example, you might have an Instagram page or a LinkedIn profile followed by thousands of crypto enthusiasts.
In that case, you can share a referral link with your friends and earn money when they sign up for an account on some crypto exchange.
Talking about referral Programmes Here are Two Referrals for you.
Join WazirX (Referral Link) | Join Binance (Referral Link)
Also, Read WazirX Vs CoinDCX – Which is Better for You in 2021!
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