Making Money on Lockdown: 5 Effortless Ways to Earn Cryptocurrencies Online
The various government responses to the coronavirus caused a lot of havoc across the global economy and millions of people are now out of work. A number of nation states have not lifted the lockdowns and no one’s really sure when the slew of shutdown industries will open again. While people are out of work they might find interest in the multitude of methods available that individuals can use to earn digital currencies online. The following is a comprehensive list of how to safely earn cryptocurrencies on lockdown by invoking some initiative and a little bit of effort.
5 Ways to Earn Cryptocurrencies
These days, people are trying to find side gigs and opportunities to make money online because the economy was shut down by the world’s governments in response to the Covid-19 outbreak. For years now, bitcoiners and crypto advocates have been telling people about the benefits of earning digital assets online. For instance, people can earn coins like BTC, BCH, ETH and a number of other crypto assets right now by simply completing tasks, surveys, writing, trading, mining, staking, finding airdrops and more. In this post, we’re going to cover the myriad of opportunities available to people interested in making some money on the side by leveraging cryptocurrency solutions.
If you are good at analyzing charts and trading, then you can make a lot of profits by swapping digital assets on a regular basis. Trading can even be a full-time job, which provides enough income for an individual to survive, but the profession can also be risky. For instance, in order for anyone to start profiting from crypto trading, individuals simply have to purchase some digital assets and play the highs and lows correctly by knowing the right times to trade.
It’s probably a good idea to hone your skills before getting started and that includes relentlessly studying technical analysis methods and charts. It’s not easy learning how to trade and people should only swap what they can afford to lose. However, it is quite possible to make a living by trading on the crypto markets that operate 24 hours a day and seven days a week. Bitcoin.com has a sleek and easy-to-use crypto-trading exchange that offers a variety of popular digital assets and crypto trading pairs like BTC, BCH, and USDT.
Mining and Staking
People can also mine digital assets that leverage application-specific integrated circuit (ASIC) devices, GPUs, and CPUs if they put up some capital to get started. With ASIC and GPU mining, an individual with access to either free or extremely cheap electricity can earn digital assets by buying some machines. With coins that can be mined by a central processing unit (CPU) people might be able to earn coins if they have enough personal computer cores to spare. ASIC and GPU mining will require an upfront cost to get started and CPU mining might make your computer slower. In addition, all the mining possibilities require running mining devices constantly, in order to rake in some profits. If someone decides to mine cryptocurrencies they most likely will want to join a pool, as individual hobby mining isn’t as profitable as it used to be. Bitcoin.com offers a profitable mining pool that allows people to mine either BTC or BCH and the service also offers cloud contracts as well. With cloud mining, people can earn digital assets even if they don’t own any hardware or they don’t have the technical know-how to start mining on their own.
With staking, people can acquire some proof-of-stake (PoS) coins and make money by simply holding the assets over a period of time. Most PoS coins have a network that finds blocks deterministically and the more assets someone holds, the more they can earn. There are all types of PoS coins with a variety of different per annum staking yields. Lots of people stake coins in a noncustodial fashion by leveraging a wallet or they can opt to stake coins on an exchange as well but it’s riskier.
Freelancing, Tasks, and Blogging
There are various opportunities to earn cryptos via freelance jobs, accomplishing tasks, completing online surveys and editing or writing essays for coins. There are many jobs available on freelance websites like Cryptocurrencyjobs, Ethlance, Freelanceforcoins.com, and a few others. People can earn money by simply writing and blogging on a regular basis. Read.cash, a blogging platform, allows individuals to do just this and earn bitcoin cash by writing and sharing unique content.
Another blogging website that rewards users in BCH and ten other digital currencies is the platform Publish 0x. If you don’t have an issue with the recent Tron-fiasco, you can also opt to write on the Steemit platform as well, in order to earn digital currencies for writing and producing content.
Just recently news.Bitcoin.com wrote about how people can obtain airdrop tokens in order to make some profits. Basically, digital currency projects distribute coins to people if they help market the coin or project in some fashion. For instance, people can obtain airdrop cryptos by downloading a protocol, registering, following or retweeting on social media, and some only require people to simply giving the airdrop creators a receiving address.
Accepting Digital Currencies for Goods and Services
If you own a physical shop and can’t sell things because of the lockdowns, you might want to sell goods and services online for cryptocurrencies like BCH, BTC, and ETH. Setting up e-commerce merchant services online is easy to do and Bitcoin.com offers a variety of resourceful guides to help people get started. For example, if someone wants to accept bitcoin cash for payments they can leverage a payment gateway and add it to any website.
Accepting digital currencies opens a business to more types of payment methods and a loyal customer base. Essentially, a cryptocurrency payment gateway or merchant solution will allow you to accept a digital asset, but also calculate how much money the items or services are in any fiat denomination. You will also be giving customers a privacy-centric solution to shopping online because clients won’t have to enter credit or debit card information over the web.
With a Little Initiative, Anyone Can Earn Digital Currencies Online Today
The list mentioned above only scratches the surface when it comes to earning cryptocurrencies online, as there are many other ways to make money with digital currencies. Some of the jobs can make people a few bucks as a side hustle by completing effortless tasks online or people can opt to make a full-time career by leveraging the crypto economy. There are plenty of video streamers, content creators, writers, bloggers, traders, consultants, and miners working a full-time job in those fields.
The coronavirus lockdowns continue to be rough on the economy and cryptocurrency solutions have always offered people a different way to earn funds online. It may take some research but with a bit of effort, it is not impossible to regain some or even all of those lost wages from the shutdown, by simply earning and learning to use cryptocurrencies.
What do you think about our list of ways to earn cryptocurrencies during the lockdown? Let us know in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Read.cash
Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Published at Sun, 19 Apr 2020 22:50:53 +0000 Making Money on Lockdown: 5 Effortless Ways to Earn Cryptocurrencies Online