Looking for some easy ways to earn Ethereum online?
In today’s post, I will introduce you to at least #7 proven strategies you can implement now to start earning Ethereum online.
Ethereum is the second most popular crypto coin in the world. Of course after Bitcoin.
Abbreviated as ETH, the coin has a market capacity of $ 42,226,507,109, with 113,014,518 ETH currently in circulation.
What you didn’t know about ETH.
By the time of going live, 1 Eth was going for $ 373.64.
Though Ethereum is known as a crypto coin, it is not like Bitcoin or the other coins.
Actually, it is a platform.
An open-source blockchain eco-system.
And to participate within this blockchain, you need currency, a way to pay for network fees.
That is where Ether comes in.
So, it is safe to say that ETH is a crypto coin for Ethereum blockchain.
Now, since this is like an ‘environment,’ there are other Cryptocurrencies who depend on the Ethereum blockchain to make and receive payments. However, that is not the topic for today, though it doesn’t also hurt to know a little. Does it?
With the little knowledge you now have, why should you get Ethereum?
Reasons to get Ethereum now.
An obvious one is what we just mentioned, you need ether to operate under the Ethereum blockchain. Other reasons include:
- It operates smart contracts, which are much more secure and reliable. In a nutshell, a smart contract is a line of code stored inside the blockchain that automatically executes once certain terms and conditions are met.
- ETH comes with short selling upper hand. This means that you can sell the coin even during low market seasons
- Its leverage margins are extremely high. Meaning, you enjoy huge profits margins during trading if the market goes your way
- Just like Bitcoin, ETH has huge potential. In fact, the highest high of the coin was $ 1,432.88 in January 2018. Lowest low? $ 0.420897 in 2015. See how much it has grown?
Have I stirred your desire to earn Ethereum online?
7 easy ways to earn Ethereum online
Earn through ETH Faucets
Faucets are websites or applications where you can do complete small tasks. And in return, you earn rewards.
As for ETH, several faucet websites allow you to perform small tasks such as solving a captcha and earn free ETH.
Why would anyone do that?
Well, as they say, there is never anything for free.
It is true in this case.
Since these faucets understand how valuable a coin like Ethereum can be, they offer such promotions to attract a ton of traffic. If you look at such sites, they have ads all over the place.
More importantly, since the faucets are attracting a lot of people interested in crypto, most companies dealing with such take advantage to advertise.
How much can you earn through faucets?
Don’t expect to get rich with such programs.
On average, a small task can earn you 0000012 ETH. If you ask me, that isn’t much, but who can say not to free crypto?
If this sounds like something you’d be interested in, here are some of the popular eth faucets:
- Ethereum Faucet
- Faucet Run
- Free Ethereum Spinner
- com – this one gives you at least 500 GWEI every 30 minutes. GWEI is the smallest unit of 1 Ethereum.
Use these sites to earn Ethereum online now.
Ethereum Airdrops of ERC-20 Giveaways
What is an airdrop?
An airdrop is a distribution of a Cryptocurrency coin or token, commonly for free, to a large number of wallet addresses.
In most cases, this is a PR stunt used by new entries to gain users and attract attention.
ERC-20 on the other hand are Cryptocurrencies built on top of Ethereum blockchain. Remember I had mentioned this earlier on.
Now, such cryptos are known as tokens.
Speaking of tokens, Ethereum is best known for this function of ‘hosting’ other coins.
In fact, 80% of the trending coins (in the top 100) are based on Ethereum blockchain, hence called ERC-20 coins.
How do airdrops work?
In a nutshell, airdrops give away coins for free. But why would someone do that? Well, it all started when Facebook banned advertising of crypto on its platform.
This means that new coins seeking to enter the market (ICOs) had to find new ways to reach the masses.
That is how airdrops were born.
Also Read: – HOW TO TRADE ETHEREUM IN OLYMP TRADE.
You basically ask several people to spread the message about your upcoming launch, and in return give them free coins.
The promotion part involves mostly:
- Becoming a community member, either by joining telegram channel and groups, liking the page on Facebook, or following on LinkedIn
- Sharing the messages by sharing posts on Facebook, retweeting, and pinning, etc.
- Creating content about the coin, a program known as bounty-hunting.
Once you have completed these tasks, submit your wallet address, and wait for the token distribution to begin.
With the tokens on your wallet, you can exchange them for ETH, later on, making this the easiest way to earn Ethereum online.
Buying and Selling Ethereum
Yes, you can trade eth just like you would currencies, stock, and bitcoin. It is a tradable commodity.
For this to happen, you need a few things at hand:
- A few ETH coins
- An Ethereum wallet
- A platform, also known as the exchange
How does it work?
First, you need to open ether wallet. This is your ‘account’ where you will be storing your ether coins.
There are popular ones you can use such as MyEtherWallet among others.
Be cautious though not to be conned.
Pick only reputable wallets with proven water-tight security systems. Remember, once you lose the coins, it cannot be traced or recovered.
With the wallet up and ready, go ahead and buy a few ETH coins. Luckily, you don’t need the whole of it.
For example, you can start trading with just a fraction of ETH, say 0.1 or 0.03, which has value.
To start trading, you need an exchange. You can either use ones dedicated to Cryptocurrencies, or use brokers like Olymp Trade. Whichever you want, here are some of the popular crypto exchanges:
- KuCoin, among others
Again, make sure the platform is secure, not to wake up one day, and find all your investments gone.
To start trading, it is simple.
All you have to do is wait for the coin’s value to appreciate and then sell it.
Just like bitcoin, you can mine ether.
What is mining?
In simple terms, mining is the process of fact-checking transactions on the blockchain network.
Here, the miners (blockchain participants), carry out calculations to make sure the records are clean.
The first person (miner) to complete the verification of a new block, gets free coins.
But there is a problem.
These calculations are enormous and complex, thus no human can handle. As such, there is a need for use of computers and not just any computers. You need computers with enormous computing power.
See, the fact-checking process takes up a lot of computing resources, which ordinary computers cannot handle.
So, if you are interested in mining as a way to earn Ethereum online, do the following:
- You need to put more effort into the mining process to earn more, this may mean running the rigs for longer hours
- You need a constant supply of cheap electricity, considering that the operations may be running for longer periods, the expenses can skyrocket quickly
- Get computer parts with high computing power. This may mean getting a powerful graphics card, upgrading RAM, among other things you can do to increase your chances of solving the complex calculations faster than others
Doing these will set you up for a successful Ethereum mining process.
Work for Ether
This is the best and easy way to earn Ethereum online, especially if you are a freelancer.
In freelancing, you get a project, complete it, and get paid in cash which can be in dollars of local currency (depends where you are).
But now, how about instead you get paid in form of Ether?
Yes, that is very much possible.
If you are interested in Cryptocurrencies and are a freelancer, why not combine the two?
It is actually simple. Instead of the normal job boards, you are used to like Upwork and Fiverr, others are dealing with crypto-paid jobs only. They include:
- BitforTip. …
All you have to do is join these platforms and look for jobs in your industry.
Earn interest of your ether
If you thought it is only the money on the bank capable of earning interest, think again.
If you own a portfolio of crypto coins such as Ether, why just leave it there idle? They can be ‘working’ for you while you relax at home playing video games.
Just like banks and fiat currencies, some platforms accept crypto deposits and in exchange, the account earns interest.
A good example of such a program is Nexo.
It is one of the fastest-growing lending institutions disrupting the finance industry through digital finance.
Currently, the company boost over 800K users, and over $3 billion in proceeds paid out.
All you have to do is deposit your portfolio with Nexo and start earning interest daily.
Better part? You can withdraw the proceeds anytime you want.
How much can you earn?
According to their website, you can earn between 5 and 10 percent interest on your coins.
As you can guess, this is a revolutionary innovation. And instead of having Ether sit on your wallet, they can be multiplying somewhere else.
Other reputable lending platforms include:
|Crypto Lending Platform
Why should you consider such programs?
For starters, opening interest accounts is free.
Additionally, your coins are safe. Unless of course, you get into fishy platforms.
Even with all these tantalizing goodies, some of these platforms impose restrictions.
Some come with a minimum deposit. Which means you cannot join unless you have a certain amount of coins. Also, you may get stranded in case you need money for emergencies.
In that case, make sure you have reviewed and understood all the terms and conditions before committing your Ether.
As mentioned earlier, Facebook prohibits advertising crypto on their platform (available in the US and Japan only). So, how do companies gain new customers?
The easiest and cheapest way to gain new users is by leveraging what you already have.
That explains why 90% of crypto companies and platforms have a referral program where they reward existing users when they refer new ones.
This is a form of affiliate marketing.
The product is the crypto coin or platform, and the reward in most cases is in form of coins.
Thus, if you understand the principles and best practices of affiliate marketing, you can easily earn Ethereum online.
Here is what to do:
- Look around you. The products you already use, e.g. exchanges, coins, etc. For example, the Binance exchange has a referral program where you earn up to 40% every time your referral trades on the platform.
- Join the program and get your referral links.
- Share with friends and on social media.
- Earn coins whenever someone uses your links.
Pay attention to requirements, because they vary from one platform to the other.
Final words on easy ways to earn Ethereum online.
If I were you, I’d start from scratch, i.e., use the free ways to earn Ethereum. Once you have enough, you can step up the game by trading to multiply your account.
Next, you can then move further to lending and staking and watch your Eth portfolio grow on its own.
It doesn’t matter how you approach it, just make sure to stay safe.
Do not fall for ‘low hanging fruits’ because the scammer will be counting on it and waiting to pounce on you.
To be on the safe side, resort to educating yourself. Soak in as much information as you can before venturing to avoid being tricked. As they say, knowledge is power.