How to earn crypto without investment in 2024
Despite the many years of skeptics’ statements that this cryptocurrency is nothing more than a bubble and hype, the crypto market has long ago proven to everyone that it is with us for a long time. However, the times when you could simply start mining Bitcoin using your computer’s video card and receive super profits are long gone.
Mining
Mining, which was previously considered one of the most effective and reliable ways to earn cryptocurrency, in 2023 has become less profitable and takes a long time to pay off for beginners. The high cost of hardware and electricity, as well as the tendency of blockchains to use Proof-of-Stake consensus algorithm instead of Proof-of-Work, is making mining less attractive to ordinary users. Of course, you can still make money through mining, but a home computer with a powerful video card is no longer suitable for this — here you already need to set up a full-fledged mining farm for tens and even hundreds of mining machines, which will pay for itself in only a few months, not taking into account equipment maintenance and ensuring the security of such businesses.
Trading
What about trading? Successful trading on cryptocurrency exchanges requires knowledge, experience, initial free capital and a large amount of time to track key trends in the market and analyze project documents. Without proper preparation and start-up capital, it’s better not to even start.
Staking
Staking tokens and providing liquidity on decentralized exchanges looks more reliable than just trading; there is no need to monitor the market 24/7, but to enter this niche you need to have starting capital. For staking, you need to have project tokens, which are blocked in a smart contract in order to receive an even greater reward in tokens for long-term retention. To add liquidity to a DEX and start earning commissions on trading volume, the user must have two-way liquidity, for example, both ETH and USDT in equal proportions at the current value of the trading pair.
How to earn crypto without investment?
Fortunately, there are alternative ways to earn cryptocurrency without financial costs and initial capital requirements.
Airdrops
The most popular marketing strategy used in the crypto market is airdrops. The goal is to distribute free cryptocurrency to users in order to increase the number of holders and awareness of the project among a new audience. People love freebies (and so do you) and this technique easily attracts the attention of users. Often, in order to take part in such an airdrop, the user often needs to perform certain simple actions — such as registering in the application or testing it, subscribing to the project’s social networks and commenting on posts, reposting posts, participating in competitions, etc.
To participate in airdrops, you still need to have a minimal understanding of what web-3 is. At a minimum, it is necessary to monitor and study projects that deal with airdrops. There are many websites and forums where you can find information about various crypto airdrops. When engaging in airdrop hunting, you need to be careful, as there are fraudulent projects that, under the guise of airdrops, steal personal data and cryptocurrency from connected wallets. Often such scam projects are created by analogy with popular real ones, subtly changing the name of the project or a similar domain name, for example. Therefore, before you register anywhere, first make sure that this is a real project — check how present it is on social networks, whether it has functioning services, talk to the project managers, if possible. Make all kinds of inquiries.
Faucets
Faucets are websites or apps that offer users free cryptocurrency in exchange for completing certain tasks or viewing ads. Their operating principle is similar to airdrops: the user registers on the website or downloads the application, after which he gains access to tasks or promotional materials. For completing tasks or viewing advertisements, the user receives some cryptocurrencies, which can be collected in his account.
You also need to be careful here, as there are many scam sites that promise big gains, but do not actually develop cryptocurrency, but collect data and even use computer power to mine cryptocurrencies while the user is on the site.
Affiliate programs
Just like in traditional businesses, companies in the crypto industry are looking for ways to attract new users to their platform. Affiliate programs offer the opportunity to earn money by attracting new users to a platform or service. In the crypto industry, an affiliate program may offer a reward in the form of cryptocurrency for each referred user who signs up for the app and makes certain key actions. On exchanges, for example, it looks like this: when users you attract carry out transactions on the platform, you receive part of the commission from the trading volume; in fact, the exchange shares its profit with users for assistance in development. The commission can be fixed or percentage, depending on the terms of the affiliate program.
Barter Smartplace is no exception here: the project pays up to 50% of its profit from each transaction. You need to attract a seller or buyer to the platform and you will receive part of the commission that the marketplace receives from the sale of goods.
If you want to make money through affiliate programs, you always need to first make sure that it is a real functioning platform. One of the most reliable indicators here is the presence of a working service and wide representation in various social networks for a long period.
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