What is the best way to earn cryptocurrency?

niel96 (69)in #cryptocurrency • 5 years ago (edited)

There are different ways to earn cryptocurrency. These are probably the most popular:

Trading for a profit
Participating in airdrops
Cryptocurrency bounty programs
Mining or staking for a profit

Cryptocurrency trading.

This is a good way to earn cryptocurrency but only when you know what you are doing. You need experience and knowledge how financial markets work and behave. Only then you can be successful. If you don't have the skills it's just gambling so first read some books and do some courses before you start trading with real money.

You will also need a good broker account. I can recommend Binance since they have a lot of altcoins you can choose. The trading platform is very professional and they have an academy where you can learn how trading works.

https://steemit.com/cryptocurrency/@niel96/p3zrrq2kq

Cryptocurrency airdrops

You can earn a few dollars worth of tokens here and there without doing much work but it won't make you rich. I don't think it's a good way to make more cryptocurrency. Because you probably earn more by getting a normal job so it's not really worth the time.

Cryptocurrency bounty programs

I think this is one of the best ways to earn more cryptocurrency. Bounty programs allow you to earn tokens by doing certain tasks, which can range from writing an article to making a video or participating in the telegram channel.

I use the bounty hunting platform called Bounty0x, it's one of the most popular platforms.

https://steemit.com/earnmoney/@niel96/earn-cryptocurrency-from-home-by-doing-tasks-on-bounty0x

Mining or staking cryptocurrency

Proof of work cryptocurrencies can be mined. While on some POS blockchains you can stake to make a profit.

This can be profitable but that's not always the case. For instance electricity is not the same price everywhere so when you mine you want to get cheap electricity. Since it's a big cost for miners that can make a huge difference how profitable you are.

People used to mine with their computers 5 years ago but that's not profitable anymore. You need specialised equipment to run a mining facility.