Earn Crypto: Top Ways to Get More Crypto in 2021
Cryptocurrency is disrupting the global economy, and it is clearly reshaping the way we think about money. From finance websites to the news, you will find a mention of crypto everywhere. With the massive demand and attention that crypto is getting, acquiring digital coins has become increasingly expensive. Even though you can always buy the dip, there are other proven ways of getting crypto and growing your digital assets. Wondering how to invest in cryptocurrencies or to earn crypto for free? Look no further as this article will help you find just that. Let’s get right into it!
Top Ways to Earn Crypto in 2021
The fintech industry is soon catching up with emerging cryptocurrency platforms. An upside of this is innovative startups offering credit or debit cards that provide rewards in crypto. In fact, crypto rewards are one of the most popular ways to earn crypto.
A crypto startup, Fold, was one of the first companies that offered a Visa debit card, rewarding users with bitcoin every time they purchased with participating retailers. The trend was soon followed by crypto-exchange Gemini and lender BlockFi, who came up with similar offerings.
If you are a Gemini cardholder, you can earn up to 3% in bitcoin and other cryptocurrencies. The rewards may not be too big, but you will earn crypto for free if you use the card regularly.
Staking is a process where you actively have to validate transactions (similar to mining) on a blockchain. Anyone who has the minimum balance required for a given asset can validate transactions and earn staking rewards in exchange. Various cryptocurrencies are securing their network with staking.
If you wish to earn crypto without mining it, then staking is a solid option!
Tezos, Neo, and Cosmos, among other crypto assets, can be staked. Crypto exchanges like Coinbase and Binance allow customers to do staking so that they don’t need to deal with blockchains directly.
When a cryptocurrency splits into two distinct versions, then it is termed as a “Fork.” It usually happens due to a disagreement among developers related to a new software update. So instead of agreeing, one group decides to stick to the original version of a platform, and the other starts running a new update. For instance, Bitcoin is the original version that later forked into Bitcoin Cash. Likewise, Ethereum is a fork of Ethereum classic.
Forks are a great way of earning free cryptocurrency, although they are very rare. When it comes to a fork, the holders usually hold the pre-existing coins and receive the amount of the new crypto, which equals their holdings in the original crypto. This happened with Bitcoin, which forked into Bitcoin Cash in 2017. BTC holders received the equivalent amount in bitcoin cash, which was worth $767 back then.
Airdrops may not be as common as they used to be earlier. However, it is a great way to earn crypto without mining it. Simply put, an airdrop is when developers of a new blockchain platform give the crypto away for free to build a community of users and boost adoption. It is not guaranteed that a new cryptocurrency you receive will become valuable eventually, but you can always earn free crypto through airdrops. Websites like airdropalert.com have a database of all upcoming airdrops. They provide details about platforms planning their airdrop through which you can earn crypto for free.
Depending on the cryptocurrency you are holding, you may receive its promotional giveaway. An excellent example of this is the most significant exchange globally (when it comes to trading volume) – Binance. The platform regularly holds giveaways of various kinds for its native token BNB. However, you would have to either sign up for something or complete a certain volume of trades. So it is arguable that such giveaways aren’t entirely free. Coinbase is another exchange platform that organizes its own giveaways. It provides small crypto rewards for engaging with its educational platform. If you have got some free time, you can undoubtedly earn crypto through exchange giveaways.
Crypto Interest accounts are your gateway to earning interest on your existing crypto holdings. All you need to do is deposit cryptocurrencies with a platform like Hodlnaut that offers up to 7.25% APY on crypto assets. Instead of letting your crypto sit idle in a crypto wallet, you can make the most of it with interest accounts.
Create an account within a couple of minutes by signing up and depositing your crypto assets. There is no lock-in periods and you can start earning interest with just US$1. Hodlnaut also offers crypto-backed loans for financial institutions and corporates. You may try their free crypto demo account to get a feel of the platform.
If you provide some sort of service or have your own blog/website, then you can earn free cryptocurrency by creating a donation page or facility on your website. Simply post the public address for your Bitcoin wallet and ask for contributions. Your valued customers and admirers will send in a small amount of bitcoin your way. Lots of charities, journalists, bloggers, and researchers are asking for donations in bitcoin. It is a creative way of earning in crypto instead of traditional fiat currency.
Yield farming, also known as liquidity mining, is a reward system by decentralized finance (Defi) projects similar to the bonds market. Yield farming is a process where you can lock up cryptocurrencies and generate rewards from them. After locking in your funds, you essentially grant liquidity to a Defi token to earn rewards as well as interest. Thus, you earn additional tokens besides the yield based on the project.
Cryptocurrency is a digital ledger where transactions are recorded in real-time and are arranged chronologically to be verified by the public. These blockchain operations need a master node. A master node is essentially a computer that makes the ledger available in real-time. It can be hosted on any computer and acts like a server. However, it is good to note the requirements of hosting a master node.
For several cryptocurrencies, you shall have a certain number of coins in your account. This number typically ranges from 1000 to 2500, and is based on the cryptocurrency you invest in. Through crypto master nodes, you are paid to maintain a real-time record of the transactions on the crypto network. However, this process needs some technical skills and may be better suited for advanced crypto users.
Mining is one of the most legitimate ways to earn crypto, especially altcoins. The process needs high computing power as the transaction records must be added to a chain or public ledger transactions. This does require you to invest in equipment, setup, and maintenance. Simply set the computer, and it performs all the complex work. Since cryptocurrency involves solving various problems frequently, the miner is rewarded every time it solves a problem successfully.
Bitcoin is measured in units called “blocks,” and the miner currently receives 6.25 Bitcoin as a reward per block. Previously, this reward was 50 Bitcoins when BTC was first launched. However, as mentioned before, the process of mining needs a powerful processor so that your computer can outdo the other computers and solve more problems. Thus, if you can invest in the equipment, you can successfully earn rewards with crypto mining.
Currently, mining Ethereum seems to be more profitable, according to Block’s Data Dashboard. Ethereum miners are now earning over $77 million a day compared to Bitcoin miners, who earn $67 million per day. If you would like to earn crypto by mining Ethereum then this will be a good read: AMD Radeon VII Graphics Card Review: Why Ethereum Mining Is More Profitable Than Bitcoin Mining.
Microtasks (otherwise known as bounties) are similar to airdrops. However, microtasks need some more effort than airdrops to earn crypto. They are essentially small tasks that you can perform for companies and startups to get rewarded in cryptocurrency. The tasks can be promotional, for instance: writing a testimonial, distributing a promotional video, creating a video review, and even writing a press release. You can find out about airdrops and bounties on websites like 99Airdrops for the latest microtasks and airdrops.
Yet another exciting way to earn crypto is through crypto faucets. You do not need to invest any money to get crypto from crypto faucets. However, it certainly takes some time and determination to generate decent revenue. The Crypto faucet is quite easy to understand. You need to carry out simple tasks such as completing surveys, watching ads, and playing games to get a small portion of cryptocurrencies as a reward. Once you reach the minimum withdrawal limit, you can cash out these crypto earnings. There are various cryptocurrency faucets out there that you can join, and most of them pay in Ethereum or Bitcoin. Websites like Ethereum-faucet.org and Allcoins.pw offer ETH tokens for solving captchas. Crypto faucets are certainly not meant to give you a lot of cryptos right away. However, if you have the time to carry out tasks, then it is a great option.
There are many ways to earn crypto for free or with a bit of effort, as mentioned above. Crypto rewards, crypto faucets, and airdrops don’t demand much time. On the other hand, crypto mining and master nodes require considerable time and investment. However, you can get started with an interest-earning account for free! All you need to do is create an account, deposit crypto, and start earning interest immediately.
Wish to earn crypto with Hodlnaut Interest Account? Signup to get started today!