12 Real Ways To Earn Ethereum For Free: Ultimate Guide
I promise you will know about all the real and easy ways to earn ethereum (ETH) for free by the end of this article. So let’s get started.
What is Ethereum (ETH) ?
Ethereum is a global, decentralized digital currency as well as a platform for new blockchain based programmable applications. It is basically a world-accessible cryptocurrency controlled by coding.
Ethereum is the second biggest cryptocurrency in terms of market capitalization. It is behind bitcoin but miles ahead of the other cryptocurrencies.
Ethereum (ETH) vs Bitcoin (BTC)
Bitcoin is the most popular cryptocurrency but it is just a simple peer-to-peer money exchanging cryptocurrency.
On the other hand, ethereum is much, much more. Vitalik Buterin, founder of ethereum, realized the potential of blockchain used in bitcoin and saw its uses beyond a transactional ledger and now, Blockchain is the major hub of innovation in the entire crypto industry.
Besides a simple peer-to-peer cryptocurrency, ethereum is also an open-source blockchain platform that enables developers to build decentralized applications.
12 Ways To Earn Ethereum For Free
Ethereum faucets are referred to as free ethereum earning sites and they are same as Bitcoin faucets. You earn tiny value of ethereum by doing small tasks like watching a video, browsing a website.
This is the easiest way to earn ethereum but it will not make you any more than $2 – $5 a month, which at the end of the day is too small to even consider but it is worth mentioning as you only have to complete minimalistic tasks to earn ethereum for free.
These faucets also offer commissions on referrals and other programs. Referral commissions can vary from 10% to 50%.
If your referral earns ethereum on faucets, you will also benefit from it. So, referring can increase your earnings.
Registration is free on all faucets, so you can earn free ethereum from all of them. So just earn ethereum for free by clicking advertisements.
Ethereum Earning Games & Apps
Yes, you can earn ethereum by playing games. The earnings will not be much but you can enjoy gaming while earning a cryptocurrency.
Enough of these trivial earning ways, lets get down to the real business.
Earn Ethereum by Betting or Gambling
If you like betting or gambling, try your hand in online cryptocurrency betting or gambling websites.
Unlike bitcoin mining, ethereum mining is pretty easy. Ethereum mining is the process of solving complex computational problems to maintain the ethereum ledger. All you need is a computer with GPU (Graphics Processing Unit).
Ethereum mining requires some investment but it can also give you significant returns on your investment.
Ethereum Mining Requirements
- Computer with GPU
- Ethereum supporting Wallet preferably (Atomic wallet or Myetherwallet)
- Join Ethereum Mining Pool (Joining fees varies)
How To Start Mining Ethereum
Just follow the step-by-step guide given by mining pool and you are all set.
Ethereum mining is same as bitcoin mining with some technical differences. A bitcoin block is mined every 10 minutes while Ethereum block is mined every 15 seconds.
The miners are rewarded 2 ETHs for every block successfully mined.
To be profitable in Ethereum mining, you will require investment of $1000 – $1500. Higher the investment, higher the profit.
Warning: Do not join any free ethereum mining sites. They are just a ponzi scheme to steal your money.
Note: Don’t start mining with normal CPUs or you’ll end up with more loss than profit.
Ethereum, the second largest cryptocurrency is very popular among traders.
You need to buy ethereum to be able to trade it. It is quite easy to buy ethereum nowadays.
You can start trading for as low as $10 but $100 should give you a better start.
Note: If you are a beginner, gather extensive information on cryptocurrency trading before starting otherwise you might as well just donate your money.
You may like: All the Cryptocurrency Trading Concepts.
Well, if you know what you are doing, trading can earn you free ethereum daily.
How To Trade Ethereum: Step-By-Step
Set up Account on Exchange:
Choosing an exchange is vital to trading.
There are hundreds of cryptocurrency exchange platforms and almost every one of them offers Ethereum.
Choose an exchange compliant to your nation’s laws and check the pros and cons of the exchange.
There are some exchanges that require high verification process like KYC and there are some exchanges where you don’t even need to sign up.
You May Like: 5 Exchanges Where No Sign Up Is Required.
After deciding an exchange, go ahead and sign up on their platform.
Fund Your Account
Then you need to fund your account with any suitable method available on the exchange. Ether is the actual cryptocurrency of Ethereum but many exchanges still denote it as Ethereum (ETH).
After funding your account, buy Ethereum with it.
Ethereum Trading Types
There are a lot of cryptocurrency trading methods and strategies like day trading, futures trading, trading with CFDs etc.
I can explain all these trading strategies in detail but that will make this article super long.
So, I will discuss two basic trading strategies.
Holding is the process of buying and holding a cryptocurrency in a cold wallet for months or even years. It is a simple method and does not require much knowledge.
Note: Never store your coins in a exchange or hot wallet. Always keep them in a cold storage.
Know more about it here: Cryptocurrency Wallets.
This is the most widely practiced cryptocurrency trading strategy.
In the past 10 years, bitcoin’s price rose exponentially from $0.00 to greater than $10,000. Similarly, ethereum’s price went from $0 to $350 in 5 years.
So if you had bought 100 ETHs in 2014 for lets say, $1 each, You’d now have $35,000 worth of ETH.
I think this should be enough to understand the importance of holding.
Active trading is a bit difficult, especially for beginners. It requires an in-depth knowledge to reap profits. So, it should mainly be done by someone with sound knowledge of it.
This type of trading mainly depends on the price volatility and signals. To be profitable, you need to know when to buy and when to sell your cryptocurrency.
Not many cryptocurrency exchanges support this type of trading, so make sure that you are on the right platform.
Some must-have features for an active platform:
- Pending order
Earn Ethereum by Lending
If you already hold Ethereum in a wallet, you may want to consider lending your Ethereum to a borrower through a peer-to-peer lending platform.
You can charge interest as much as 15%.
Consider lending ethereum in a bearish time so that you can reap even higher benefits when the market goes bullish.
This is a great way to maximize your profits with a minimum risk.
Freelancing, a temporary contract-based job can also help you in earning a good amount of Ethereum if you have a few skills that can be useful to a company.
Note: In freelancing, your skills determine the extent of your earnings.
There are a lot of websites which offer payouts in cryptocurrencies of your choice.
Popular Ethereum Freelance Platforms
This freelancing platform is very popular because it lets users decide which cryptocurrency can be used in a certain gig. Jobs like content writing, marketing, business development are available in abundance here.
You are basically going to find almost all types of blockchain and cryptocurrency related jobs on this platform. This is mainly a freelancing platform for the crypto community.
It is also marked as a trusted site by Ethereum Official team.
Accept Ethereum as a Payment
If you are a business owners, accepting Ethereum as a means of payment can prove to be a best way of earning Ethereum.
There are many popular cryptocurrency gateways and you can accept any cryptocurrency as payment.
Sounds cool, right?
But its actually a job for skilled professionals.
If you are a computer programmer or you’re good at spotting bugs or issues in a blockchain, you can earn as high as $250,000.
You have to spot bugs or rectify glitches in a software. Some popular bounties like bug bounty, airdrops, improvement bounty, crypto signature bounty etc are held constantly. These bounties are announced on various forums so you have to stay in touch with these forums.
Cryptocurrency startups usually offer bounties before conducting their ICOs.
Note: These bounties are highly competitive.
Develop Ethereum DAPPs
Ethereum has given birth to a completely new category of applications called DAPPs.
DAPPs stands for decentralized applications and there are numerous advantage of DAPPs in almost every industry. With DAPPs, companies can make their data much secure, have a better management of the company etc.
Nowadays almost every developer is focused on developing a DAPP because once developed, there is no need for maintenance or supervision. The DAPP will be completely self-sufficient.
Once you develop a DAPP, all you need to do is enjoy the flow of passive income.
These are constant giveaways happening in the crypto community.
The main purpose behind so many giveaways is to increase the adoption of cryptocurrencies.
Many famous crypto personalities offer giveaways on various social platforms.
For example, Roger Ver recently did a giveaway of $5000 worth of Bitcoin Cash (BCH) on his facebook handle.
Warning: Don’t fall for giveaway scams where scammers impersonate a famous personality and promise to give you 10X returns if you send them funds.
Some methods have small tasks and others have big ones and payouts vary according to the jobs.
All I want to say is that cryptocurrency is only going to grow more and more, so it’s better to start as early as possible.
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