Three Great Blockchain Platforms For Making Money
By Jason Budd on ALTCOIN MAGAZINE
And one that could surprise us all in the months ahead…
Whispers of a bull run grow increasingly louder and some of the shrewder traders and hodlers out there are trying to find that elusive edge. I guess that’s why you’re here too. With so much potentially at stake in the months ahead, I don’t blame you. As you scan through this article, people looking to secure their financial futures are diligently searching CoinMarketCap and other resources for tokens with working platforms where people can actually make money.
Now I don’t mean saving money here through discounts, like what’s offered with the fantastic Binance coin and others. There are plenty of tokens out there like that and they’re great. No disrespect intended, of course, but increasingly more people want to find tokens to use on platforms where more tokens (or preferably just cold, hard cash) can be earned or won. The real deal, as it were.
Why, I hear you ask? Well, many crypto veterans now believe that owning tokens just for speculation’s sake is no longer enough. They want access to the blockchain platforms where they can earn the most money too. The speculative component just adds another welcome dimension. To them the real value is finding tokens that will give them access to money-spinning platforms— that’s what will push up a token’s price over the long term.
They see the dotcom bubble as a history lesson that will repeat itself with blockchain. Like then, they believe that working products where users can make money will be the ones that come good and emerge from the bear market wreckage. In other words they expect the wheat to get separated from the chaff in the not-too-distant future. If this sounds like your philosophy too, reading on might not be a bad idea!
So which are the best blockchain platforms for making money right now?
That’s the burning question on everyone’s lips. If there’s a recent list online, I’ve yet to find it. And with lots having happened over the last six months, the cryptosphere is long overdue an update — or at least something! So without further ado here are my top 3 blockchain platforms for making money — in no particular order (and a dark horse that could end up surprising us all in the months to come).
Brave Browser (BAT)
The focus of nearly everybody’s attention over the past few months has been the Brave Browser and its Basic Attention Token (BAT), and rightly so. Not least because you can make money by simply using the browser itself. Especially popular among those who value their security and privacy, Brave is available on Android and iOS. Working on a reward system, the Brave browser can be used by any website owner or YouTube creator to earn BAT tokens. You can sell them, should you wish to do so, for bitcoin or fiat money and it’s listed on Coinbase which has a great tradition for listing tokens with profitable platforms. For full instructions, check out this beautifully written guide here. If you prefer videos, the one below will get you up and running in a jiffy.
Next up is one of my absolute favourites. Steem is the cryptocurrency that powers the decentralized Steemit, a social media platform that encourages user participation through micro-payments. Many compare it to Reddit, but the key difference is that creators can be recompensed by users for their endeavors— a massive step up from just upvoting or downvoting posts. With hundreds of thousands of users, the Steemit blockchain generates cryptocurrency through the creation of intelligent content by its users. The reward distribution system in Steemit is not straightforward but the guidance here will help you. Steem dollars (SBD) can be exchanged for Bitcoin as an intermediary currency on Poloniex, Bitwala and Bittrex, among others. If you’re looking for a platform that generates you income while you hold, then Steemit should be right at the top of your list.
As a writer, I obviously love Steemit but I am similarly enamored with LBRY. To explain, it functions as a decentralized platform for sharing video content. Not only is the content on there great to watch, it gets better. You’re rewarded with LBC tokens for creating it and consuming it. Very little else is required but to do what you would often happily do for free on a wet and windy Sunday afternoon. Other ways to obtain LBCs include contributions to the LBRY project and mining, but please see here for a full list on all the ways to earn LBC. In order to take part in LBRY’s ecosystem, you need to download the app (available for Linux, macOS, Windows, as well as iOS and Android).
As you accumulate your LBC tokens, you can trade them to make profit or simply cash out to hard currency. Or you can hold them and watch the value fluctuate, hopefully in your favored direction! LBC can be exchanged for Bitcoin at Poloniex, Bitwala, Bittrex, and several others, from where you can transfer to a fiat exchange should you wish to do so.
One to watch: Hiveterminal (HVN)
Hiveterminal is something of a dark horse and rarely discussed, so worth bringing up. A finance token, the way you earn money with HVN is very different to the other tokens discussed. Completely different. The Hiveterminal platform is a place where investors can buy invoices at a discount before being paid the full amount by the debtor at the due date. With an IRR of 40% per annum, that is quite astonishing. Clearly this represents the next level when making money on a blockchain platform. Invoices are bought and settled in fiat for now, so that’s cold hard cash in your hand. There are other benefits too, as listed here.
To get started is simple. Simply sign up as an invoice buyer (investor), buy at least 50 HVN on Nauticus to access the Hiveterminal and get ready to buy invoices as they get posted for sale (not forgetting you’ll need to be able to pay 1% of the funded invoice amount in HVN if you manage to buy an invoice). Competition to buy is intense and it’s very early days so less than 20 invoices have been snapped up so far. Volumes are however expected to pick up in the months ahead.
Unlike the money making methods listed above, there is a very small risk that you won’t be paid by the debtor since non-recourse factoring is used. Nevertheless no instances of non-payment have been recorded thus far. Should this rare event occur, Hiveterminal has a partnership in place with a debt collection agency to recover investor funds. In my view, it’s one to watch — but only time will tell!
So, there you have it! One small step towards completing a comprehensive list of the world’s best blockchain platforms for making money. But this is far from perfect — the number of tokens out there is vast and there are probably other very good candidates out there.
If you know of any other blockchain platforms which offer opportunities to make good money, please let me know in the comments section below!