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The cryptocurrency world is a land of opportunities. When you talk about making money from crypto, trading is the first thing that comes to most people’s mind, but there are other ways that although not as profitable, are much easier to do.
These methods are best for beginners who want to tip-toe into earning cryptocurrencies and also for veterans who simply want to make some extra crypto in their free time.
Learn and Earn
That’s right, various exchanges including Coinbase and CoinMarketCap offer these programs. Basically, they will show you videos on new crypto projects then ask you to complete a few simple quizzes. Then, you will be paid in whatever currency the project is.
Learn and Earn programs are not only a good way to make some money in your free time, they help you discover a wide range of new, exciting projects, some of which may end up exploding in value. To participate, you usually have to create an account on these exchanges and verify it with your documents.
There are many options for staking, such as Lido which allows for earning staking rewards without locking assets, or StakeWise who aims to optimize profit for stakers, or even centralized exchanges like Coinbase and Kraken.
In addition, staking rewards directly correlates with the number of existing validators. When the ETH staking pool is lacking, the rewards will go up to incentivize new stakers, and vice versa. It’s possible to earn up to 5% APR on every ETH you stake.
If you’re someone who loves to engage in online communities, you can literally do that to earn money now. Some subreddits have their own currency, the prime example of which is no other than MOONs from r/CryptoCurrency. By getting upvotes from your posts and comments in this subreddit, you will earn karma which can be exchanged for MOONs at the end of the month.
Some other subreddits like r/DogeCoin and r/nanocurrency, users are allowed to tip others with DOGEs and NANOs. However, success from Reddit-posting is as volatile as Bitcoin’s price since there’s no guarantee to what kind of things Reddit users will upvote.
Crypto Shopping Rewards
You might have heard of browser extensions like Honey or Rakuten which offer cashback rewards when you use the extension to shop at their affiliated retailers. Well, there is an extension called Lolli that works in a similar fashion, except it offers ‘Bitcoin back’.
The great thing about Lolli is that you don’t really have to change your online shopping habits much. You totally don’t have to make purchases with crypto to get Bitcoin back, and Lolli’s partners include many names that you probably have already been shopping from, such as Nike, Adidas, eBay, Samsung, Marriott, Sephora… In addition, some retailers have up to 40% Bitcoin back.
The rise of blockchain games have also given way to the concept of playing video games to earn money. There is a huge diversity in ways you can do this: either breed and sell creatures in Axie Infinity, get rewards from discovering areas around you in WeNano, or receive passive income from owning land in Ember Sword. Of course, there is a trade-off: most play-to-earn games come with an initial investment, and sometimes this fee can go up to hundreds of dollars.
Publish0x aims to be a Medium for crypto users. You can choose whether you want to be a writer or a reader, both of which earn cryptocurrency. The site has a reward pool and every time a reader finishes an article, they can choose what percentage from the pool to ‘tip’ the writer and what to keep for themselves.
You also get a 5% lifetime percentage off of your referrals’ every tip. Currently, tips on Publish0x are only made in tradable ETH ERC-20 tokens but the site claims to be crypto agnostic and will introduce coins from all chains in the future.
If you didn’t know already, many cryptocurrency exchanges have sign-up bonuses, so if you’re looking for an exchange try to keep an eye out for that. As for people already on one, it’s probably too much of a fuss to create an account on another exchange just for it since the amount is not significant.
But choosing an exchange with a high referral bonus is really worth it. There is no limit to how many people you can refer, and your referrals also get the bonus so it’s a win-win situation.
Airdrop is a common practice among crypto start-ups who want to gather traction for their new projects. Developers will send you free coins just for using their platform. Oftentimes, these coins don’t carry much value, but there have been exceptions in the past such as Bitcoin Cash, Stellar, Uniswap…
Be aware that ICO and airdrop scams are rampant in the crypto world. If the airdrop is of a popular coin or it’s not linked from any official website, chances are it’s a scam. You can find a list of airdrops that are happening on crypto news sites and exchanges like CoinMarketCap.