This write-up is a short overview of how to earn crypto, it briefly describes creative ways to get it and, in some cases, not necessarily investing your money into it. Explained below are some methods to try out easily.
Since the inception of Bitcoin as a means for transactional operations, investors, enthusiasts, and miners have been looking for means to generate more income from their crypto.
The most employed strategy by these individuals is HODL-ing. This is a term used to describe an investment philosophy where coins are held for a long period in the crypto world in hopes prices go up over time. However, this strategy isn’t sufficient for traders. It is also worthy to note that considerable gains can only be made from a decent amount of bitcoin. As such, the need for lucrative ways to earn more is constantly being researched.
Now people can generate more income from Bitcoin without having to look for capital. Have a look at some methods below:
1) Earn Interest on your Bitcoin by investing it
If you have your bitcoin in a digital wallet and you want to earn on your account, the most advisable method to do so is through an account with a crypto company that lends from investors. There are several cryptocurrency lending firms today, for example; YouHodler – they provide mouth-watering interest on your investment into their firm. You can also find similar offerings in companies like Celsius Network, Hodlnaut, and Nexo.
The method for obtaining interest here is putting Bitcoin in your account and earning interest on it on a monthly basis. Usually, these firms offer moderate returns with no requirement for investing but it would be wise to read up the terms and conditions before investing your crypto.
2) Request for Cashbacks in Bitcoin when shopping from eCommerce Stores
Cashbacks are a great way to earn bitcoin from shopping. These are basically incentives and rewards programs offered by eCommerce companies to loyal customers in the form of cryptocurrency. There are numerous rewards programs out there to choose from through applications like StormX, a mini platform where you can obtain rewards buying goods from their online shops. Shopping for specific items on websites like Fold and Lolli gets you up to 30% in rewards. These rewards are usually given out after a certain time, most often when they are out of stock or the offers have expired.
3) Participate in Affiliate Marketing Programs that Reward in Bitcoin
Affiliate marketing schemes are one of the few ways by which you can obtain extra bitcoins with numerous ways by which it can be accomplished. If you have a large online or media presence perhaps a Youtube channel or blog you can talk up the company offering a reward and including the link within so clicks from visitors on your website can get you the reward. Some companies offer as high as 15% in commissions on each referred customer so be sure to look at all possible options and get the best deals.
4) Get Paid in Bitcoin
This is as simple as it gets, you can be paid for your services in bitcoin. With the advancement of technology and payment systems, advanced companies, software, fintech, and Techfin companies disburse monthly wages in Bitcoin. For instance, firms like Mastercoin and Bitshare offer their staff the option to be paid in cryptocurrency or a combination of both. Selecting this option means you have the opportunity to increase your bitcoin and diversify into other ventures listed above.
5) Earn Bitcoin by Leverage Trading
Leveraged trading is another method by which you can increase your crypto capital. Leveraging is an act of lending crypto for investment from the broker or trading platform for the sole purpose of increasing capital returns. The main advantage of employing this trading method is that you can leverage more than your capital for profit. Some of the most frequently used platforms for this trading method are PrimeXBT and BitMEX as they offer as high 100x for leveraging options.
Earning more crypto can be very easy if you know what to do. Searching in the proper place will provide a steady source of income without hassles. It is also important to know that before engaging in any financial dealings, you are advised to seek professional advice.