It is not uncommon to hear people say how they made so much money from cryptocurrencies, but the big question remains, “how do they do it?” It is time to join and also start making some impressive returns too. This post evaluates the best ways to earn cryptocurrency and boost your income.
Buying cryptocurrencies is, in most cases, the simplest method of earning some crypto coins. You can purchase cryptocurrencies from an exchange, such as Kraken or Coinbase. These exchanges provide the option of trading the coins, allowing you to start earning right away.
If you receive your coins in your wallet, simply holding them can generate some reward when the price moves up. Investing the coins in your wallet, you can invest them at swyftx.com for a much bigger investment profit.
At hi, we ensure that the process of buying HI dollars is simplified. All that you need is to head to WhatsApp or Telegram, type hi on the chat box, and fill a short form. Then, buy HI dollars to start earning immediately. It is that simple: no experience is required.
Start Crypto Mining
Another awesome method of getting crypto coins is mining. This process entails using a computer to help confirm transactions and get a reward. Your computer works as a node in the blockchain network and solves mathematical problems to get an opportunity to confirm transactions and mine new blocs. In return, you are rewarded with new coins. One of the blockchains that use this method is Bitcoin.
The main challenge of mining is that it requires a lot of computing power which means that you have to buy expensive equipment, such as ASIC miners. They also use a lot of energy, which adds to the cost of mining.
Earn Cryptos through Staking
Crypto staking is one of the best ways to earn cryptocurrency. It involves verifying transactions in the proof of stake (POS) blockchain and securing the network. First, you have to lock your coins to the blockchain network before staking can commence. In return, you are rewarded with some of the fees that users pay to run transactions.
You can earn from 5% to 20% per year based on the amount that you staked. The more you stake, the higher the rewards.
Play Games for Cryptos
Game finance (GameFi) runs on a play-to-earn model that allows players to earn just for playing games. You can earn some rewards in the form of crypto tokens, non-fungible tokens (NFTs), and online game tokens. Then, you can convert the tokens to the desired crypto coins.
Some of the popular play-to-earn games that provide impressive returns are Axie Infinity, hi Play, Decentraland, and CryptoKitties.
Use DeFi Yield Farming
Yield farming, also referred to as liquidity staking works like bank loans. However, it differs significantly in that instead of lending money; you lend crypto coins and earn interest. Most rewards from DeFi yield farming is in the form of digital tokens.
Note that you are required to lock up your coins over a specific period to be able to earn some interest, which is expressed in APY. Some of the leading DeFi yield farming protocols are Compound, AAVE, and Uniswap.
Use Referrals to Earn Cryptos
There are some crypto projects that are designed to help users earn some bonuses by simply referring friends or signing up for user accounts. One of these platforms is hi.com, which is designed to help you make more money. You can simply recommend hi to friends and get a reward when they sign up.
Simply type hi on the Telegram or Whatsapp chat box to get a menu that allows you to do a number of things, including creating an account and inviting friends. Now, you know the best ways to earn cryptocurrency and boost your revenue.