You know, you click excitedly on a headline that screams “21 ways to earn free crypto” but only find trite methods like airdrops, faucets, parking funds with crypto lending firms and even monetising your walking
I mean, I don’t mind doing all this and more for the sake of my family but really, how are my other crypto enthusiasts making bigger money in the crypto space? This is a question that has plagued me for ages. And today, I stumbled upon the answer because someone posted this question on a personal finance FB group I belong to.
Trust me, some of these ways are so refreshingly different that I’m now writing this article, sipping my afternoon coffee at my neighbourhood eatery because I just wanna get the news out as soon as possible!
Disclaimer: Not financial advice. Do your own research.
margin lending on FTX
2) Learn the mechanics of DeFi 2.0 platforms and invest money in Wonderland, Hector, Papa DAO
3) Put money into Balancer Polygon to earn the 16+% rewards from the stable coin liquidity pool
4) Engage in recursive borrowing with Aave Polygon (deposit, borrow, re-deposit, borrow again, rinse and repeat) to push up the yield to 8% and optimise the Matic rewards.
5) Similar to AAVE Polygon, borrow the MIM stablecoin against UST on the Abracadabra protocol., and then use the MIM to borrow UST again. Rinse and repeat to push the yield up to 80%+ on stablecoins. But note the expensive gas fees on Ethereum and how bots will quickly borrow the MIM faster than most people within half an hour. Also take note of either MIM or UST losing peg
6) If you are an extreme risk-taker, you may challenge your mental and psychological limits with Tomb Finance where you can get 180% APY on their Tomb-FTM staking pool and 300-500% APY on TShares. But you got to prepare yourself against the possibility of volatility, hacks, or rug pulls.
7) Analyse if you can stomach the USD depegging risk (The de-pegging threat is real as it has happened in May 2021 even though UST has subsequently recovered the peg with USD) and go for Anchor protocol (19.5% per annum)
8) Spend using Crypto.com visa card to accumulate CROs to put into Crypto Defi Earn for 12+% p.a yield
I hope this post brought you some new ideas. It certainly did for me.
