I have been fascinated by crypto for a long time now, and I enjoy sharing what I have learned about it on ToughNickel.
Many people would like to invest some money into crypto, but it can be scary to put money in a project if you don't really understand it and don't know how to use the cryptocurrency. So, here are a few ways to earn a little bit of crypto to get some experience without risking your own money.
Mind you that none of these methods will make you rich. They will, however, earn you a few dollars worth of cryptocurrencies that you can play with.
1. Coinbase Earn
Coinbase is one the worlds most used cryptocurrency exchanges, and for many newbie investors, it is the starting point in their crypto journey. The platform is not only easy to use, but it also offers free learning material to help you understand crypto better. Sometimes, they even pay you a few dollars in cryptocurrency to watch a video and solve a short quiz about a crypto project.
To participate, you only have to create an account at Coinbase and get verified. After a few hours—or sometimes a few days—you will get access to Coinbase Earn. There you a dollar worth of crypto per right answer, and most of the quizzes have about three to five questions.
In my case, right after signing up, I was able to make about $30 dollars in various cryptocurrencies just by solving a few easy quizzes. They also infrequently add new quizzes to Coinbase Earn so you can keep earning a few bucks when you check on your Coinbase portfolio.
Reddit is one of the most famous social media platforms, and there are many ways to earn cryptocurrencies with it. For one, there are many subreddits—like r/nanocurrency and r/banano—where existing users are willing to share their crypto with new users. There are frequently posts on r/nanocurrency where the OP gives free Nano to everyone who comments on their crypto address.
Dogecoin subreddit also sometimes tip each other with Doge. There is also a subreddit called r/dogecoinbeg. There, people literally just post their Dogecoin address and beg for free Doge. Of course, it rarely happens that you find somebody who is generous enough to give strangers money for no reason, but it can happen.
Another way you can earn crypto on Reddit is with their new community points. r/cryptocurrency and r/fortnitebr distribute every month their own cryptocurrencies to their users based on how many upvotes their posts and comments get. r/cryptocurrency gives its users Moons and r/fortnitebr gives its users Bricks.
Both coins are used to tip other users, buy special memberships in the subreddit, and for bragging rights. Your number of community points also increases your weight in polls on the subreddit. They can also be transferred out of your Reddit account and be sold. The value of these coins depends on how popular the subreddit is. The more people join, the more demand there becomes community points.
One Moon is currently worth $0.08, which doesn't sound like much, but the top user last month got 26,400 Moons! That user earned $2,112 in one month just for posting and commenting on Reddit. Of course, you would have to spent every waking moment on the subreddit to come anywhere close to that amount, but I also earned 430 Moons last month just by casually browsing r/cryptocurrency. That’s $34 that I earned while learning about cryptocurrencies.
Bitcoin and many other cryptocurrencies use a proof-of-work protocol to process transactions. This means that all the computers who run the network are competing against each other to "mine" the next block in the blockchain. Whoever succeeds in creating the block gets some new coins as a reward.
In the early days of Bitcoin, you could mine with a normal computer, but since mining has become more and more competitive, it is nearly impossible to make money by mining without special equipment. However, you can join a mining pool, where users pool their mining power and share the reward with one other. The easiest way to do that is with NiceHash, which is easy to set up and pays you in Bitcoin for your mining power.
There are some cryptocurrencies that have tried to remain lucrative mining options for normal people without having to use mining pools, but most of them have also become too competitive. One currency that you can mine directly and very easily is called Vertcoin. On their homepage, you can find a one-click-miner that is very easy to set up.
Keep in mind that how much money you can make depends on your hardware and internet connection. The more power your computer has, the more you can get.
The point of a faucet is to spread awareness about a cryptocurrency. It is a website were new users can get small crypto donations to try out a cryptocurrency. These donations are funded by ads and crypto veterans who want to support newcomers.
You can only make a few cents per day, but that can be enough to see how the currency works. With most faucets, you only have to enter a crypto address and solve a captcha to prove that you aren't a bot. Some faucets also let you earn crypto by watching ads.
Almost every cryptocurrency has its own faucet online, and some faucets also support multiple coins. However, beware of which faucets you use; some demand that you earn a certain amount of crypto first before you can cash out. This minimum payout amount can be ridiculously high, and it could take you forever to reach it.
One good example is called FacuetCrypto;l it lets you earn daily rewards by watching ads that are relevant to cryptocurrencies. The minimum payout can be reached very easily, and there many different coins you can withdraw, including Bitcoin, Litecoin, Doge and many more.
Fun Fact: In the early days of Bitcoin, there was a faucet that would give you five entire Bitcoins just for solving a captcha. Back then, they were worth only a few cents, but now that would be almost $250,000! Faucets that offer such high rewards no longer exist, unfortunately.
Some online games pay you crypto just for playing. The idea is the same as with faucets—to spread awareness about a cryptocurrency. Similarly, the payouts are also funded by donations from crypto veterans and ad revenue.
You can earn Nano by playing Counter-Strike, which is free on Steam. You can also play Quake 3 on your browser and earn Nano for every kill. All you need is a Nano address. You can find a list of games that let you earn Nano as well as detailed guides for them on their homepage.
Rollercoin is also very popular game where you play a Bitcoin miner and have to set up an in-game mining computer. The game lets you earn real Bitcoin, Ethereum, and Dogecoin.
This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.
© 2021 Krypton Currency