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In today's article we will find out what are the simplest ways to generate micro cryptocurrency earnings even from scratch. In fact, there are very simple ways to make money, without having to be an expert trader. Before starting, however, I specify that this is not a course and not even an investment advice, therefore always DYOR (= do your uwn research). The methods that we are going to describe basically of two types: the first concern passive income (staking, farming, cashback), while the second concern income that I call "active", such as airdrop, learn & earn etc.
Passive Incomes
Passive incomes concern 90% of my spot wallet and to these is added an important cashback on ordinary and non-ordinary daily expenses. It is very important that the liquidity of a wallet is not in a "static" position, since in this case it would be generating a lost profit. For example, holding Ethereum (ETH) in your wallet only earns us if its price rises and if our intention is to sell it in the future. If one of these two conditions is missing, we will not generate income. Putting ETH into income, on the other hand, would make us earn a percentage of the total we have and, once the price goes up, we will have a greater profit.
- Staking
To be more specific, the first form of income I use is the staking of Proof of Stake (PoS) cryptocurrencies as it allows you to earn a percentage on possessions. Staking involves a block of the coins for a certain period of time and for this we are paid a periodic profit.
Pro: APY from 10 to 50% approximately.
Cons: blocked period, if the price goes up I can't sell immediately. Additionally, some coins have a blocking period of up to 14 days after starting the unstake process.
- Savings
Another form of income, especially for non-PoS coins, are Binance Savings. In fact, on Binance there is a specific section that allows you to rent even those currencies that cannot be staked (such as BTC). This type of income is very similar to that offered by other CeFi-platforms, which would have higher returns, but it turns out to be much simpler especially for those who already use Binance.
Pros: there is no blocking period, you can redeem them at any time.
Cons: Low APY, sometimes below 1%.
- Farming
This form of income is the slightly more difficult to perceive, but also the most profitable. it is the most difficult for the simple fact that it requires knowledge of the DeFi industry. In fact, decentralized finance allows you to earn significant percentages that sometimes exceed 100% APY on your possessions. DeFi platforms require that you connect your wallet to the application, deposit the liquidity that you intend to rent and usually the profit is paid in the token of the platform.
Pros: Very interesting APYs.
Cons: You are exposed to the risk of DeFi and the volatility of the token with which you are paid.
- Cashback
Every day it happens to make purchases or expenses and the possibility of receiving a cashback on these would not be bad. The Binance Card allows you to get up to 8% cashback for those who hold BNB, the BINANCE currency. I have explained HERE the various levels that can be accessed with this payment method. The card can also be connected to paypal and Google-pay for all online purchases and allows you to spend, in addition to cryptocurrencies, even Euros. Pro: you can recover part of the expenses incurred. Cons: it must be reloaded, you are exposed to the volatility of BNB in ??cashback.
However, HERE you can find an article on best ways to make money on Binance.
Active Incomes
Let's now consider the micro-gains that can be perceived by doing small tasks such as watching videos or filling out quizzes. There are various platforms such as COINBASE or Coinmarketcap that have implemented this reward system for those who want to learn more about cryptocurrencies.
- Coinbase-earn
Periodically, the Coinbase exchange provides short courses at the end of which a few dollars are credited in a specific cryptocurrency which can then be held or converted. It is not necessary to already have assets to commit, you can access the courses even immediately after registering and verifying an account. Furthermore, with THIS link, Coinbase credits you with $10 in BTC after registration and the first deposit of at least $100.
- Coinmarketcap-earn
Like Coinbase-earn, it periodically provides online lessons regarding tokens, followed by a short quiz. HERE are the latest one. At the end of each campaign, if the answers are correct, a sum will be paid in the token in question.
- Airdrop
For some lucky (or careful) people there is rarely a chance to perceive an Airdrop. It is a "gift", ie the possibility of claiming a certain amount in cryptocurrency for various reasons. Airdtops are usually made to launch a new token on the market or are given to those who already hold a token. They cannot be predicted or considered a stable form of income but should be counted due to the fact that they can rarely earn the equivalent of several thousand dollars, as happened for Ampleforth (AMPL) and its Forth (FORTH) governance token. THIS was an old airdrop.
- Writing or reading
The last form of income that we list concerns Publish0x. This site, in fact, corresponds cryptocurrency to those who create content or read them. For the specific operation refer HERE, to register instead just click HERE.
These are not all the methods to make money with cryptocurrencies but they are certainly the simplest and the ones I have tested. This is just a short guide that must be an inspiration for those who do not know how to do it and want to increase their earnings without exposing themselves to trading.
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