7 Alternative ways to earn cryptocurrencies
After the rapid growth of Bitcoin price in December 2017, when the value of one coin reached $20 000, a lot of people started talking about cryptocurrencies. People became interested in digital assets and the easy ways to make money from them. Despite the fact that Bitcoin is now worth less than $10 000 this topic is still relevant. So here’s how you can earn crypto without mining or trading.
Blogs and social networks
There are several platforms where you can earn tokens for publishing and consuming content. The first and largest social network on a blockchain is Steemit, which also functions as a blog. Steemit users are divided into publishers and readers. The former receive tokens for content creation, the latter for consumption and participation in the form of likes, comments and votes. The platform has three types of tokens:
- STEEM — liquid tokens, which can be exchanged for Bitcoin and Ethereum on Bittrex, Poloniex and OpenLedger;
- Steem Power — Non-liquid tokens, which imply a long-term investment in the platform. They are analogous to stocks, where the holder receives a share of the network profit in proportion to his contribution;
- Steem backed dollars (SBD) — a liquid token, which, like STEEM, is traded on the crypto exchange for Bitcoin and Ethereum. The platform strives to maintain a stable token exchange rate around $1 per SBD.
After publishing new content within 24 hours, users receive a reward, the amount of which depends on the comments and likes of curators. Rewards come in all three tokens of the platform at a ratio of 50% Steem Power, 25% STEEM and 25% SDB.
Golos.io is an analogue of Steemit, a blockchain platform that pays a reward for creating and supervising content. The following tokens are used on the platform:
- GOLOS — a liquid token, traded on the Bittrex, Livecoin, Liqui, Kuna crypto exchanges;
- GP — like Steem Power is a illiquid token and implies a long-term investment in the platform;
- GBG — a liquid token traded on Liqui and linked to the price of gold: 1 GBG is equivalent to 1 mg of gold.
For content creation, the author is paid a 50/50 reward in GP and GBD ratio. Curators are paid in GP only. There are two payout windows. The first one — from 24–48 hours, the second — 30 days. In the first window the author shares with curators remuneration in a ratio of approximately 75/25. In the second window, the author receives all the rewards. Also, the author can choose the option to get 100% compensation in SG (by default, the choice is 50/50).
Bounty campaigns and airdrops
Some projects distribute a certain number of their tokens in small quantities to the general public. The logic of this is simple — the more people use the product, the higher the value attributed to tokens. During the peak of the Initial Coin Offerings (ICO) many received “airdrops” worth up to $5000.
A bounty campaign is a reward program for helping to promote ICO, where participants receive project tokens for certain promotional and informational activities.
Types of bounty campaigns:
- Advertising on social networks — posts, tweets, comments, likes;
- Advertising ICO in the signature of messages on the forum BitcoinTalk;
- Translations of information about ICO in local languages — site, announcements, white paper;
- Searching for project bugs;
- Development of software add-ons — wallets and mobile applications;
- Writing and publishing articles on blogs and news resources;
- Mailing lists;
- Design — logo, branding, booklets.
The amount of income depends on the success of the ICO project and the bounty campaign you have chosen, and the tokens can be exchanged for other cryptocurrencies or kept in the hope of higher value in the future.
Cryptocurrency faucet is a website that pays all registered users to visit and perform simple actions: viewing ads, participating in a contest, performing actions in online games or entering characters from an image. Payments are made at certain intervals (every 30 minutes or an hour, for example) and can be in bitcoins or other cryptocurrencies.
However, it is worth knowing that very small amounts are paid, sometimes just a couple of Satoshis at a time. Therefore, for real earnings you need to become a user of several dozens of crypto faucets at once and be active in it for several months.
Bitcoin faucets are suitable for first acquaintance with cryptovalues, but it is rather monotonous and boring. On the wave of popularity of cryptocurrencies, game developers started adding / replacing virtual game currency with cryptos, thus motivating players even more. Much more interesting to play and get bitcoins for it. Sounds good, doesn’t it?
Most games reward gamers with the cryptocurrency for achieving results in the game. Let’s take a look at the most popular cryptocurrency games, where you can earn bitcoins or other cryptocurrencies.
Spells of Genesis
One of the earliest, most successful and perhaps most exciting games, related to blockchain and Bitcoin. Players find themselves in the fantasy world of Moonga, where they fight each other. During the game you can earn bitcoins by building important industrial facilities and collecting cards to build strength.
The internal currency is BitCrystals, which is a token based on Counterparty and stored in the Bitcoin database. Crystals can be used in the game itself for certain purchases or exchanges and can also be sold on third-party sites — exchanges or exchangers. BitCrystals is a full-fledged cryptocurrency that can be exchanged for Bitcoin or other altcoins. From 2016 you can also play Spells of Genesis in your browser.
New Minecraft server, called BitQuest, hopes to use decentralized currencies to increase participation as well as to create a more dynamic gaming environment. BitQuest is following in the footsteps of several other servers running on Bitcoin, including the now defunct BitVegas, which once offered various minigames denominated in digital currency.
BitQuest players can earn bitcoins for accumulating emeralds, one of the many resources that can be collected in their adventures.
Emeralds can be obtained by killing monsters, collecting tips from other players, making notable contributions to the community, or even communicating with other players in the player vs. player (PvP) arena. Each Emerald costs 0.000001 BTC and can be used on the programmed trading floor of the game as well as in various peer-to-peer events involving other players.
Spark Profit allows gamers to feel like a real trader — they need to make a forecast of the market trend changes. Points are awarded for accurate forecasts, which can then be converted into cryptocurrency or traditional money. According to the developers, you can get up to $100 for a good forecast, but judging by the feedback from users, not many of them managed to get more than a dozen dollars a week using this game.
This application pays the player for his knowledge. SatoshiQuiz works in quiz format and calculates a certain amount of satoshi for each correct answer. There are several categories and levels of difficulty questions (complex and simple questions are chosen randomly). The group game gives you 60 seconds to answer and the single gives you 20 seconds to answer.
This game uses the same principle as the popular Pokemon Go game — collect Bitcoin elements by moving to the specified locations. Once all the elements have been combined, you can get an entire coin. The game has the following interesting features:
- Both online and single player games are available;
- a rich selection of weapons, tools and ammunition;
- items can be not only found, but also stolen from other players, and other
- players can steal them from the user (except for safe areas where you can hide found).
Cryptokitties is the first full-fledged blockchain game that is in demand and actively funded by players. At the moment, prices for “kittens” that can be grown in the application are constantly falling due to limited functionality of the application. By the way, without the investment will not be able to earn, for the first pet will have to pay in ETH.
This type of income is very popular among bloggers, news sites, social networks and ordinary users. Companies provide a unique URL or promotional code for affiliated marketers to send to their customers. When someone makes a purchase using your affiliate link, you will receive an award in crypto assets.
Each company will structure its affiliate program in its own way. For many e-commerce brands, you will receive a percentage of the total order value of the client you referred to. For other companies, you may receive a set fee for each person who subscribes to the service using your promotional code.
For example, Coinbase will pay you $10 for each customer who signs up and pays a minimum of $100. Another popular exchange, Binance, offers up to 40% commission for your referrals’ transactions. For people with large audiences, this can be up to a thousand dollars a month.
Another alternative is the BlockFi Affiliate Program, which offers 10% of the commission earned by referrals to a BlockFi interest account.
Work as a crypto freelancer
Working for crypto is legal and easiest way to get digital assets. There are many platforms and sites that offer you bitcoins in exchange for your skill. Some of the most popular freelance platforms include:
- Jobs4Bitcoin — a popular Reddit bulletin board for tasks paid in bitcoins;
- Bitwage — payroll and HR services for getting paid in crypto;
- Angel’s List — a site of employment advice, which involves many crypto projects;
- CryptoGrind — a place to buy and sell freelance services using Bitcoin;
- CryptoJobs — a bulletin board for freelancers who want to earn a crypto for their work;
- Coinality — a bulletin board for projects;
- Bitfortip — pays Bitcoins to help people.
Bitcoin casinos work just like regular online casinos. They offer various slots, roulette, poker and other games. You have to deposit coins on your account and play.
DApps blockchain-based and smart contracts eliminate the risk of data tampering, but there’s a trick. Blockchain Casino and Bitcoin Casino are not necessarily the same! It means that a regular online casino can accept and send payments in Bitcoin, but it doesn’t mean that the platform is based on blockchain technology.
Gambling lovers will like our platform Ethex.bet, working on the same principle as any traditional lottery, but the bet is not money, but cryptocurrency. Ethex platform is based on Ethereum blockchain and offers customers to guess the last symbols in the next block of the cryptocurrency, betting on ETH.