Have you heard about people making a lot of money from cryptos? The big question that you might have is “how do they do it?” We are in the crypto era and you cannot be left behind. This guide identifies different ways you can use to earn cryptos and grow income. Let’s get into it: here are the best ways to earn cryptocurrency.
The Best Ways to Earn Cryptocurrency
Buy Your Preferred Crypto Coins
This is the most straightforward method of acquiring cryptos. You can purchase these from the top exchanges. The benefit of using exchanges is that they provide a wide range of features plus multiple coins to select from. Make sure to determine between crypto wallet vs exchange for storing your coins.
Here at hi, the process of buying crypto coins is so much simplified. You only need to visit WhatsApp or Telegram and type hi in the chatbox. Then, follow the popup menu to buy HiCoin. See: there is no need to install separate apps or visit another site.
There is more! If you buy hi Dollars now, the price is low and is expected to grow, generating high rewards for your investment. You will also enjoy loads of other benefits.
Start Crypto Mining
Another awesome method of getting cryptos into your wallet is mining. This means that you make your computer a node in a blockchain network that uses proof of stake protocol. Crypto coins are already created in the selected blockchain and all that you need to get rewarded with them is validating transactions. The first person to get the answers to complex mathematical problems is allowed to validate transactions and is rewarded with a crypto coin.
The main challenge of crypto mining is cost. Over time, the complexity of the mathematical problems increases, which means that your computer will require additional processing power. This requires the acquisition of high-end mining equipment, such as GPUs and ASIC, to get an opportunity to consistently earn cryptos through mining.
The alternative to acquiring expensive cryptos is joining a mining pool. These companies have invested in advanced mining rigs, and all you need to do is send your coins to their pools. Then, the reward is shared among the participating networks.
Earn Cryptocurrencies through Staking
Staking is a method of verifying transactions in blockchain networks. You commit your crypto coins to be used in validating transactions and supporting blockchain networks. In return, you get a reward. It is like earning interest from the cash saved in a bank account, but crypto staking yields higher returns than what you get from a bank.
Depending on the selected crypto, you can enjoy between 5% and 20% per year on the staked amount. To make more profits, you need to stake more coins.
DeFi Yield Farming
Yield Farming, also known as liquidity staking, involves lending your coins to others and receiving some interest. The reward from DeFi yield farming is mainly digital tokens. However, yield farmers must lock their cryptos for a specific period. The interest you get is calculated in APY. Some of the common DeFI yield farming protocols you might want to consider are Curve Finance and AAVE.
Earn Cryptos through Referrals
Some crypto-coins projects provide people who sign-up with referral bonuses for introducing others to their services. One of these is hi.com. hi makes the process pretty simple, and all that you need to get hi Dollars is getting your friends to join.
Visit hi on WhatsApp or Telegram and type “hi” to get a menu for account registration and inviting friends. See, you do not need to visit other sites or acquire expensive wallets. Once you get the rewards in crypto coins, it is up to you to decide what to do with them. Consider staking, one of the best ways to earn cryptocurrency, for more passive income.