How to Earn Crypto: 10 Ways That Really Work
There are countless ways to earn cryptocurrency. In this guide, we’ll go over the best ways you can earn crypto to help you decide which routes you can take.
An airdrop is when a blockchain venture distributes free tokens or coins to its community. Airdrops are usually conducted to increase the awareness of a project or to incentivize people to hold a certain cryptocurrency.
Airdrops can be conducted in several ways. The most common way is for the project to send the tokens or coins to wallets that meet certain criteria, such as holding a certain amount of another type of cryptocurrency. Another way is to give away the tokens or coins in social media giveaways or contests.
If you’re interested in earning free crypto, participating in airdrops is one of the best ways to do it. However, you should be aware that crypto airdrop scams are common, and you should always do your research before participating in any airdrop.
Crypto Cashback Rewards
Crypto cashback rewards are a great way to earn crypto. They work by giving you a percentage of the purchase price back in the form of cryptocurrency.
For example, if you spend $100 on an item on a site, you would receive $10 back in bitcoin (BTC) or another cryptocurrency.
There are a few different ways to get crypto cashback rewards. The most popular method is through exchanges that offer cashback rewards. Coinbase, Binance, and Kucoin all offer cashback rewards to their users. Another way to get crypto cashback rewards is through credit cards that offer bonuses in cryptocurrency. These cards work like any other credit card, but they give you a percentage of your purchase back in the form of cryptocurrency.
The other way to get crypto cashback rewards is through specific websites and apps that offer them, for example, Lolli. Lolli is a browser extension that allows you to get cashback in the form of bitcoin when you shop at participating retailers. There are currently over 1,000 retailers that participate in the Lolli program, including major brands like Walmart, Target, and Amazon.
To get started, all you need to do is sign up for an account with one of these services and link your credit or debit card and your crypto wallet address. Then, whenever you purchase at a participating merchant, you’ll automatically earn crypto cashback rewards directly to your wallet.
Participating in crypto giveaways is usually pretty simple: all you have to do is enter your wallet address and/or email address into a form, and then wait to see if you win.
Some crypto giveaways will require that you complete certain tasks, such as following a Twitter account, joining a Discord channel, or sharing a post.
The biggest thing to remember with crypto giveaways is that there are many scams. Many people will set up fake giveaways to try and steal people’s cryptocurrency or wallet details. So, be sure to do your research before participating in any giveaway andonly enter your information into forms from websites or accounts that you trust.
Lastly, you need to be mindful that even if a giveaway is legitimate, there will still be no guarantee that you’ll win anything.
If you’re looking for ways to earn crypto, lending your digital assets in the centralized finance (CeFi) lending market is another option.
With CeFi lending, you can earn interest on your crypto holdings by lending them out to borrowers. This is a way to passively earn income from your crypto without having to sell it.
To get started with CeFi lending, all you need is a supported cryptocurrency and a CeFi lending platform. There are many different platforms to choose from, but be sure to do your research before picking one.
Once you’ve selected a platform, simply deposit your crypto into the platform and start earning interest on it.
DeFi (decentralized finance) is a new industry built on blockchains that offers financial services without the need for central intermediaries. This means that anyone can lend or borrow money, without having to go through a bank or other traditional financial institution.
There are a few different platforms that offer DeFi lending services, allowing you to earn interest in your crypto.
Two of the most popular are MakerDAO and Compound. Both of these platforms allow you to deposit your crypto into a smart contract, which then generates interest based on the amount you have deposited and the length of time you have been holding it. With DeFi lending, you can earn up to 10% interest on your crypto deposits.
The great thing about DeFi lending is that it is completely permissionless – anyone can do it, regardless of their location or financial situation.
Microtask Apps & Platforms
Microtask apps and platforms are an easy way to earn cryptocurrency since they allow you to complete simple tasks in exchange for a small amount of cryptocurrency. These tasks can include anything from watching an ad to taking a survey.
There are many different microtask apps and platforms available, so it’s important to do your research before signing up for one. Some popular microtask platforms include:
- Coinbase Earn – Coinbase Earn is a microtask platform that allows you to complete simple tasks in exchange for Bitcoin and other cryptocurrencies. Tasks on the site can range from taking surveys to replying to emails.
- Bituro – Bituro is a mobile app that allows you to complete simple tasks in exchange for Bitcoin or other cryptocurrencies. Tasks on Bituro can range from watching videos to taking surveys.
- CoinTasker – CoinTasker is a microtask platform that allows you to complete simple tasks in exchange for Bitcoin or other cryptocurrencies. Tasks on CoinTasker can range from taking surveys to writing articles.
Digital Currency Mining
Digital currency mining is a process through which new digital currencies are created. Miners are rewarded with newly minted digital tokens for their work of processing and committing transactions to the blockchain public ledger.
There are many different ways to mine digital currencies, but some methods are more effective than others. The most common and profitable method of mining is through the use of ASIC miners. However, GPU mining can also be profitable for specific altcoins.
To start doing digital currency mining, you will need to invest in some equipment. You will also need to set up a wallet to store your mined tokens. Once you have your equipment and wallet set up, you can join a mining pool or solo mine. Mining pools allow you to combine your resources with other miners to increase your chances of earning rewards. Some popular mining pools include Slush Pool, F2Pool, and AntPool.
Digital currency mining can be a great way to earn crypto tokens without having to purchase them on an exchange. However, it is important to remember that cryptocurrency prices are volatile, and any profits you make may disappear just as quickly as they appeared.
Play-to-Earn (P2E) Games
Play-to-earn (P2E) games offer an enjoyable way to earn crypto while having fun.
P2E games typically use blockchain technology to create a transparent and secure way to track rewards and player progress. This allows players to be confident that they will receive the rewards they’ve earned, and also provides a level of transparency around how the game operates.
There are a growing number of P2E games available, with new ones being released all the time. Some popular options include Axie Infinity, CryptoKitties, and Gods Unchained. Each game offers its unique take on how players can earn crypto, so there’s sure to be a P2E game that’s perfect for everyone.
So if you’re looking for a fun and easy way to earn cryptocurrency, be sure to check out the growing selection of P2E games! Some of the most popular P2E games currently available include:
- Axie Infinity: In Axie Infinity, players can earn Ethereum by breeding and training cute little creatures called Axies. There is also a marketplace where players can buy and sell Axies, and other in-game items.
- The Sandbox: The Sandbox is a virtual world where players can create their own experiences using SAND, the in-game currency. Players can also monetize their creations by selling them in The Sandbox marketplace.
- Decentraland: Decentraland is a virtual reality platform that runs on the Ethereum blockchain. Players can purchase land in Decentraland and build whatever they want on it. Decentraland also has its currency, MANA, which can be used to buy land or goods and services in the game world.
Staking is the process of holding onto your coins to help maintain the security of the network. In return for helping to keep the network secure, you are rewarded with newly minted coins.
The number of new coins you receive will depend on how many coins you stake and for how long you stake them for. The longer you stake your coins, the more the coins you’ll earn. There are no major risks involved in staking your coins, so it’s a great way to earn some extra income without having to do much work.
If you’re interested in earning crypto by staking your coins, then there are a few things you need to know. First, you’ll need to choose a wallet that supports staking. Next, once you have a wallet that supports staking, simply deposit your coins into the wallet and then wait for the rewards to start rolling in. The exact amount of time it takes to start earning rewards will vary depending on the coin you’re staking and the wallet or staking-as-a-service provider you’re using.
Yield farming is a process of earning crypto rewards on your cryptocurrency by depositing it into a yield farming protocol. There are many different yield farming platforms available, each with its own set of rules and benefits.
The returns from yield farming are typically higher than those from traditional investments, but the process is relatively complex, especially for newcomers.
To take part in yield farming, you first need to find a pool that suits their needs. There are many different kinds of pools, each with its own rules and requirements. Once you have found a yield farming protocol you feel is secure and stable enough to try out, you’ll need to deposit your tokens into the liquidity pool. After the tokens are deposited, you will receive LP tokens that you will need to place into a yield farm to begin generating returns based on the number of tokens deposited. Returns from yield farming are typically distributed in real-time, so you can watching your crypto earnign stack up.
Yield farming can be a lucrative way to earn crypto, but it’s important to do your research before getting started. Make sure you understand how the protocol works and what the risks are before depositing any funds.
To be clear, while yield farming can be profitable – especially in a bull market – it is also one of the riskiest investment activities you can engage in within the crypto markets!
If you’re looking for ways to earn cryptocurrency, be sure to do your research and find what works best for you.
Some activities are easy and accessible but only pay a little, while others require you to put capital at risk to earn. So make sure you are aware of the risks involved and only invest as much as you can afford to lose.