Beginner’s Guide – Best Ways to Earn Cryptocurrency
Having multiple sources of income is almost a necessity in the 21st century. More people are venturing into flexible working setups that allow them to pursue more than one source of income. As sampled in Britain by Bustle, working multiple jobs is increasing both as a necessity and as a choice.
In the search for alternative sources of income, an increasing number of individuals are exploring blockchain and cryptocurrencies to supplement additional income.
Through cryptocurrencies, many have been able to set up alternative sources of revenue. There are several ways through which one can earn through cryptocurrencies. These include:
- Buying and Hodling
- Mining Cryptocurrency
- Buying and Hodling for dividends
- Staking cryptocurrencies among other methods
While the above methods are great in their use of earning more cryptocurrency, they all have the same requirement of having to purchase cryptocurrency first or investing a lot of money into the necessary equipment to start mining. For an individual to earn even a decent amount of extra cryptocurrency, they would have to buy substantial amounts of the original cryptocurrency in the first place to make it worthwhile for themselves to earn via the above-stated methods.
Among the ways to earn cryptocurrency, using the Instar Wallet is the most efficient and rewarding platform.
Taking online surveys is a simple alternative source of income. Many centralized platforms have such setups. They are however filled with several setbacks.
Various blockchain platforms have introduced online surveys as a way of earning cryptocurrency. Blockchains such as the Insights Network have platforms tailored for earning through taking surveys.
Researchers can create content which they post on the platform for participants to fill out. Given that blockchain is involved and the safety of data is assured, many people are registering for participation. Insights Network recently released the Instar Wallet platform specifically meant for users who would want to earn through participating in online surveys.
Instar Wallet features daily paid surveys and specialized surveys usually created by researchers on the Insights Network blockchain. The payout is done via INSTAR tokens which can either be spent in the platform or exchanged in supporting cryptocurrency exchanges.
Along with the surveys, Insights Network rewards their users for successfully referring to their friends. Success here means that the friends receive the referral and sign up for the platform. At the time of writing, Instar Wallet was running a referral program where a reward of 25 INSTAR is assured for every successful referral and a trip to Thailand for the user with the highest number of referrals.
Knowledge is power. The more informed we are the better choices we are likely to make. The same is applied to blockchain and its supporting technologies.
There are several platforms that offer rewards for learning about how these platforms work. Insights Network, Publish0x, and Coinbase Earn all have features that support this earning cryptocurrencies.
Insights Network has a learning lab where users can learn about the underlying technology powering the blockchain while earning from its other services and products.
The Publish0x platforms offer to earn through learning via reading or watching. Both publishers and consumers are rewarded on the platform. Publish0x removes the unnecessary hurdles experienced in most publishing platforms by eliminating third parties. Publishers receive rewards from readers via cryptocurrency which they can readily withdraw in simple steps.
For readers, BNTY tokens are being rewarded by the Pulish0x platform for consuming content hosted in the platform. Whenever readers consume content and tip the publishers, BNTY tokens are awarded.
Coinbase Earn also rewards its members whenever they learn about blockchain related projects hosted on their platform. Various platforms have their courses listed on Coinbase earn including Zcash, BAT (Brave browser), Stellar lumens and OX. Each completed course on Coinbase Earn results in a token reward. Tokens rewarded depend on the course selected.
For every video watched on Coinbase Earn, a series of questions will be asked at the end of the video. This is to test whether the participant has understood the concepts being taught. Rewards can only be given upon successful completion of the video and the questions.
Coinbase also has a referral program with similar rules. Rewards are given within 90 days of sending the referral link and the receiver signing up for the platform. User activity is also taken into account before the reward is released.
As aforementioned, earning through publishing is one of the ways through which platforms reward their users with cryptocurrency.
Platforms such as Steemit have taken this method of earning to a whole new level. Their rewards are specifically for publishers. The rewards given are determined by the type of ‘upvotes’ or ‘claps’ a post receives; the more significant the interaction, the higher the reward. Platforms like Steemit, therefore, encourage top quality content due to the rewards likely to be given.
The reward earned by a publisher in each post is displayed next to the published article. Rewards offered are done through the STEEM token. This method is a step up from what platforms such as Medium offer.
Freelancing is a great way to work on your terms. For those who have built up various skills over the years, earning cryptocurrency can be achieved through freelance work.
There are several platforms that connect skilled workers to jobs online. These platforms pay in cryptocurrency. They include,
They all work similarly to gig platforms such as Fiverr. Work is posted online, and the most qualified or preferred candidate is selected. Payment is made based on the agreement between the two parties.
The success of blockchain technology came in at the right time. Dealing in cryptocurrencies is now a respectable way of earning a living. However, there are many factors to take into consideration before dealing with them.
Earning through cryptocurrencies requires that one should first earn cryptocurrencies. We have seen multiple ways through which cryptocurrencies can be obtained. Taking surveys, participating in referral programs and publishing content are some of the easiest ways of earning cryptocurrency.
More platforms are likely to come up in the future as the popularity of cryptocurrencies increases over the years. Bitcoin’s survival of its great dip is a clear indicator of positives to come from the cryptocurrency trading space.