6 Ways to Earn Cryptocurrencies

6 Ways to Earn Cryptocurrencies

March 1, 2021 7 By @LukeLarsen

Some of the following listed methods use referral links. We make money if you sign up with these links and it doesn’t detriment you in any way.

1: Use faucets! Some of the best faucets can be found at faucetpay.io. We stopped operating our faucets, but that doesn’t mean some other people aren’t operating great faucets. Faucet pay also lists numerous cryptocurrency faucets. The faucet used on pyrin only paid out in bitcoin but on Faucetpay you can find multiple great faucets in whatever crypto you want

2: Ask to get paid in cryptocurrency from your employer. There was one huge notable example of a Bloomberg: major football player getting half his paycheck paid in BTC which is 13 Million in USD.

3: Mining crypto: Mining cryptocurrency is a good way to earn crypto especially if you have computers that are on but do nothing all day. There are a few ways to use normal computers to mine but we will talk about the ways that most people will have success at.

Mining XMR (Monero). XMR mining is going to be most beneficial when you have a lot of CPU power rather than GPU power. If you have old computers that haven’t been upgraded or server style computers this is the way to go. Mining XMR is a rather simple process that involves downloading software and then mining to a pool in most cases. The simplest way to mine XMR is to download the wallet on their official site https://www.getmonero.org/ and use the wallet its self to mine with. This is going to be a slow and long process as you won’t be mining in a pool but mining by yourself. If you want to mine in a pool you will have to get a pool miner. There is a lot of good mining software out there one of which is https://xmrig.com/ .

A quick word of warning. Most of these pieces of software will be picked up by anti-virus because they can sometimes be used by virus developers to mine cryptocurrency on a machine that they have infected. As long as you get them from the proper website or official Github you will be fine.

Then you have to choose a pool. There are a lot of great pools I would recommend doing your own research, but you get you started to try out https://minexmr.com/ or http://nanopool.org

If you have a gaming computer with a bunch of spare GPU power you may want to look into mining ETH (etherium)

I have less experience mining Ethereum, but the process is practically the same. https://claymoredualminer.com seems to be a well-recommended miner and https://www.sparkpool.com/en/ seems to be a good pool.

3.1 In the same vain of mining is another process called staking. This may be a good option for people who don’t have that great of computers but have a lot of hard drive space.

3.2 Another tactic is using Defi Yield Farming going to sites like compound would be a good place to learn about this.

4: another great way to get cryptocurrency is by buying it from exchanges. If you live in the US the best and easiest way to buy crypto and report taxes would be using Coinbase. They put a lot of time and energy into making their platform the best when it comes to buying and reporting taxes.

5: Do side jobs and get paid in bitcoin. If you have skills look into marketing those skills to those in need and ask for cryptocurrency in exchange for your services.

6: Accept crypto payments on websites. If you have a website make a little donation box with your public address to accept donations or if you have an e-commerce site look into accepting bitcoin for payment. There are companies that make this pretty easy with their merchant services.