Want to jump straight to the answer? The best cryptocurrency brokers for traders are Coinbase and Gemini
The #1 Crypto and Forex Trading Course is Asia Forex Mentor
For the last two decades or so, cryptocurrency has become huge. Coins like Bitcoin and Ethereum have delivered returns never seen before by financial markets and continue to offer investors a new class of assets that they can truly rely on.
But you don’t have to buy crypto to earn it. In fact, there are several different ways to earn crypto through various schemes. including cryptocurrency rewards credit cards and others.
There are also mining network rewards and so much more. So, if you are thinking of earning crypto rewards straight into your crypto wallet, we have some tips below that will help you with this.
How to Earn Cryptocurrency
There are many ways to earn crypto assets that don’t involve bitcoin mining. We have decided to create a list of seven of the easiest way anyone can explore to get crypto coins at fair market value. Each of these methods has pros and cons too so be aware of that. Nonetheless, here is the list:
#1. Earn cryptocurrency by buying
If you don’t want to go through a long process of getting crypto coins in the crypto industry, then the best option is to engage in crypto trading. In this case, you won’t earn free crypto but instead, you will basically exchange fiat currency for its equivalent in digital assets.
The good news is that cryptocurrency exchanges these days have made it very easy to buy crypto coins and other crypto assets. You simply need to create a centralized account for trading crypto, deposit some money, and buy whatever crypto assets you want from the main crypto market.
Please also note that you will need a wallet if you do not want to keep your digital token inside the exchange. There are both software-based wallets and physical crypto wallets that you can keep securely at home.
#2. Start mining crypto
Now, if you don’t want to buy crypto or spend your time trying to analyze market charts to identify the best investing strategy, you can simply mine crypto coins and earn free cryptocurrency in the process. You see, the crypto market runs on something called the blockchain network.
This is in essence a public distributed ledger that keeps a record of all verified transactions on the network. The blockchain typically has a network of validator nodes that will validate blocks on the chain. These nodes, including a master node, do this when they solve complex mathematical equations and in return, they will earn a crypto coin. This process is called mining and is the best way to get free crypto without going through crypto exchanges or trading tokens.
However, please note that mining requires a very advanced and powerful computing infrastructure. You may also need an application-specific integrated circuit. Setting up such a complex and powerful infrastructure requires massive initial investments from all crypto enthusiasts.
Also, the energy required to verify these transactions can eat up your bank account savings. It’s therefore important to balance out the value of the coin mined with the total costs incurred in the mining process. But considering that the price of crypto has gone up dramatically, this could be a safe investment in the long run.
#3. Earn crypto by staking
The cryptocurrency market is moving from the proof of work method to the proof of stake. Proof of work is largely mining. It is a costly and energy-intensive way to verify transactions. Proof of stake on the other hand is cheaper and it basically allows users to lock in their crypto assets for a given period. The locked crypto will then be used to verify transactions on a Proof of Stake blockchain.
In return, users will earn cryptocurrency dividends or rewards. This process is called staking. It allows you to earn an annual yield for your staked assets. The yield is typically calculated as a percentage of the total staked assets and is paid using the native crypto of the network you are using.
For example, if you joined a staking program to verify Ethereum transactions, your staking yield will be paid in ETH, the native and utility token for the Ethereum blockchain. Staking is far easier than crypto mining.
Unlike crypto mining, you do not need huge start-up costs or to invest money in expensive computer infrastructure. As long as you have money to buy crypto assets, you can stake them and earn as many coins as possible. You also don’t need any technical expertise for staking.
#4. Earn Crypto with DeFi Yield Farming
Yield farming is mostly used in decentralized finance protocols to reward liquidity providers. You see, the primary purpose of DeFi is to offer traditional financial services in a decentralized manner. This includes things like lending and borrowing crypto-backed loans and such.
But unlike the traditional financial industry, DeFi protocols are quite limited when it comes to liquidity. To solve this, users can provide liquidity by depositing their crypto assets into liquidity pools. The liquidity will then be used to make the DeFi protocol more functional and effective. In return, users will earn rewards based on the crypto coins they have deposited in the liquidity pool.
This is called yield farming and sometimes it can also be referred to as liquidity mining. You do not need to be a successful trader to get free tokens using this method. Just like staking, the only thing you need is some extra crypto which you can deposit in liquidity pools. Yield farming in the end allows you to earn new coins on emerging projects while still maintaining the value of your assets.
#5. Join a few airdrops to earn crypto coins
If you think earning crypto using staking and yield farming is simple, then you have not tried airdrops. Developers perform airdrops every day during the creation of new crypto projects. This is basically a marketing technique used by new coins to try and create awareness around their new currency.
So, when you sign up for an airdrop, your wallet will get free and unsolicited crypto coins for nothing. Think of it as referral bonuses only that this time, you won’t have to lift a finger to get these native token airdrops.
The only downside with airdrops is that you don’t get the chance to choose the coin based on your own research. Instead, you just hope that airdropped coins will be worth it in the end. But despite this, any opportunity to earn a free coin is always welcomed.
#6. Earn Cryptocurrency by promoting projects through microtasks
You can also get a defi token and so many other crypto assets by simply promoting projects. Let’s say for example a new project is coming out. They are looking to popularize that project and both you and the creators of the project come into an agreement. In this agreement, you will actively get involved in marketing and promoting the project.
In return, you will be rewarded with a coin. This is the same as earning cash through affiliate marketing but instead of getting paid with dollars, you get paid with crypto. The challenge however with this method is the fact that you will need to have an existing audience in crypto before you join.
But despite this, there could be other ways to get crypto at its market price without having to promote anything. For example, you can play games and get paid in crypto, complete surveys and earn crypto and so much more.
#7. Start freelancing and get paid in Bitcoin
This one here is quite easy to understand. Unlike the idea to grant liquidity, long-term investing, or staking, you can simply get paid for your work in crypto. Most investors in fact start their journey by earning crypto through freelancing. You will however need employers who have the ability to pay with crypto. A wallet that can be linked on google chrome will also be needed.
The biggest challenge with this however is that crypto is volatile. The price dramatically changes over time and as such, consider if you understand how this will affect your taxable income in the long run.
However, the idea of getting paid with crypto is now a hot trend. Besides, there is also increasing utility for crypto as it is. For example, if you want to shop online, you can pay using these digital currencies in many online stores. In that case, you may not need to convert your assets into fiat money to be able to use your earnings.
Best Crypto Brokers
Best Crypto and Forex Trading Course
Asia Forex mentor is the best crypto and forex trading course in Asia. The course is designed to let you earn while you learn. You will be able to trade forex with a professional trader’s help and make a profit.
They’ve trained thousands of people in Singapore and different places around the globe from USA, Uk, Hong Kong, India, Indonesia, Japan, Malaysia, Vietnam, and other countries around the world.
They’ve mentored not just individual students but corporate bodies and financial institutions on foreign exchange, including the DBP, which is the second-largest state-owned bank in the Philippines with assets of over $13B
The course is affordable, and it comes with a money-back guarantee. You can get started with the course by signing up for a free trial. After the free trial course, you can decide whether you want to continue with the course or not.
Are you looking for the right mentorship and also serious about being a successful trader? Then this is your course. With their undefeated trading strategies, you will become an expert at the trade. You can check out their website for more information on how to register and get started https://www.asiaforexmentor.com/
Conclusion: How to Earn Cryptocurrency
The crypto industry is now two decades old and in that period, it has seen massive growth. If you had invested in crypto when it started or even five years ago, right now you would be sitting on a huge pile of money. Despite this massive growth, crypto is not done yet. It is the future of finance in some ways and as such, we are going to see more and more growth in the years ahead.
Also, there has been an unprecedented flow of institutional capital into crypto. This is the clearest sign that the industry is becoming too big to fail. When you consider all these factors, you will have to agree that indeed this is one of the best times to own some crypto assets.
Yes, there will be market volatility and sometimes prices may even crash. But the buy and hold strategy will always deliver results. After all, from a long-term point of view, crypto is projected to continue growing even further. With that said, it would be advisable to explore all the options listed above to earn yourself some digital assets today.
How to Earn Cryptocurrency FAQs
How can I get 1 Bitcoin for free?
It depends on what you are willing to do. If you simply want a stress-free process, you can head over to any of the exchanges we have listed above, open an account, deposit some fiat money, and buy a single bitcoin from there. You can also mine bitcoin using state-of-the-art computers. This will take you longer and a lot of initial investment but can help you earn profits instantly.
Does Crypto turn into real money?
Crypto is not real money. In essence, it is a digital currency. But you can convert these assets into real money if you want. To do this, you will again need to head over to the exchanges we have listed above. From there, you can sell your crypto in exchange for fiat money. The money can then be transferred into your bank account where it will be available for use.