Thanks to cryptocurrencies, besides traditional trading, there are several other ways to earn money.
Let’s try to analyze the main earning opportunities that the crypto world offers.
Summary
Traditional ways to earn money with cryptocurrencies
The first type of gain that is possible with cryptocurrencies is linked to the world of investing and trading on the markets.
Investments can be aimed at the long term, which involves buying the currencies to keep them in a wallet in the hope of their appreciation.
Another strategy is short-term buying and selling of currencies, taking advantage of small price movements on a daily basis or on shorter time frames.
Staking cryptocurrencies
More unusual and innovative is the so-called staking system, which allows users to earn money by locking their cryptocurrencies or part of them for a certain period of time.
These cryptocurrencies are lent to the network to enable the validation of transactions, with the Proof of Stake system. The user receives a reward to reinforce the security of the network.
Alongside this activity, there is also the possibility to lend out cryptocurrencies in the same way as with traditional shares and earn interest for the loan.
Mining
It is also possible to earn money by mining, i.e. extracting cryptocurrencies by solving the complex cryptographic calculations of the blockchain network.
In return, the miner receives a cryptocurrency reward for each confirmed block.
Free earning systems
Cryptocurrencies allow users to earn money even without investing, or by making simple operations such as those made on social media.
Social media
There are many blockchain-based social media, such as Steemit, All.me, Earns or Minds to name but the most popular, which provide cryptocurrency rewards just for making interactions, such as posting or sharing a video or photo, on their social networks.
Brave is a browser that rewards its users with its native BAT token. It is enough to use the browser to surf the web, and accept the viewing of short advertisements.
Credit cards
Some cryptocurrency credit cards also provide forms of cashback and rewards for each purchase made.
Gemini and Coinbase have announced plans for their cryptocurrency credit cards, which include cashback schemes.
Some cryptocurrency credit cards already exist, such as Eidoo. The BlockFi credit card, for example, earns up to 10% on every purchase made.
Educational and referral
Coinbase and Gemini have created two earning plans for users who complete certain educational tasks on crypto.
There are also referral plans that almost all exchanges provide for those who convince other users to sign up.
Airdrops
It is also possible to make money from the launch of a project through airdrops. Companies often allocate a portion of tokens to the first users who decide to subscribe to the project.
Many airdrops have been linked to fraud in the past. Therefore, care must be taken when evaluating the integrity of the individual project.
