5 Ways to earn crypto currency

tinyatom | June 8, 2018 | 10:32 am
airdrop

5 Ways to earn crypto currency

tinyatom | June 8, 2018 | 10:32 am
  • Airdrops

The best way to earn crypto for beginners is Airdrops. An airdrop is a free give-away by an ICO or a Blockchain project. They give away free tokens as a marketing technique and to create a bigger community. It is important for a new project to be introduced to as many people as possible. An airdrop is one of the ways to accomplish that. Often ICO’s will require you to complete a few social tasks like following them on Twitter. These tasks usually cost less than 5 minutes to complete and now you wait for your free coins.

Best source for airdrops is AirdropAlert.com

  • Bounties

Many ICO’s have bounties to create more exposure for their project. A bounty hunter completes jobs that have a set token reward for it. Examples of bounties are; write a blog, make a video, shares on social media or translate content. These tasks require more time than collecting airdrops, however the reward is often bigger.

Best source for bounties is BountiesAlert.com

  • Mining

Numerous Blockchain’s are secured through a consensus mechanism called “Proof of Work” (PoW). Through a process called “mining,” people use specialized computers to solve difficult math problems. If the solution is correct, they receive the right to add a new block to the blockchain. Once the network verifies that the problem was correctly solved, a new block is added to the blockchain and the miner is rewarded in coins.

The first Bitcoin block that was mined – Genesis block – got a reward of 50 BTC. This block was mined by Satoshi and he has never moved those Bitcoins out of the wallet the mining reward got sent to. The days of 50 Bitcoins per block are far behind us but there are numerous options for crypto mining.

  • Monero mining runs on CPU power
  • Ethereum mining runs on GPU power
  • DASH mining runs on ASIC miners
  • Cloud mining

Best source to find profitable mining coins is What to Mine

 

  • Staking

Proof of stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. In PoS-based cryptocurrencies, the creator of the next block is chosen via various combinations of random selection and wealth or age (i.e., the stake).

With PoS you have to hold a currency to receive passive income coins. Different PoS coins have different rules. Some require to lock the coins in a masternode, while NEM requires you to harvest them.

The best source for Proof of Stake is PoSlist.org

5 )   Hard forks

A hard fork, as it relates to blockchain technology, is a radical change to the protocol that makes previously invalid blocks/transactions valid (or vice-versa). This requires all nodes or users to upgrade to the latest version of the protocol software. This creates a fork in the blockchain: one path follows the new, upgraded blockchain, and the other path continues along the old path. Generally, after a short period of time, those on the old chain will realize that their version of the blockchain is outdated or irrelevant and quickly upgrade to the latest version.

This is not always the case. Some “old” chains still find support and develop their own version & upgrades to continue on the chain. The two most famous examples of hard forks are Bitcoin Cash and Ethereum Classic. When this happens you end up with exactly the same amount of new coins, as you had originally. If you held 1 Bitcoin at the time of the Bitcoin Cash hard fork, you ended up with 1 Bitcoin and 1 Bitcoin Cash.

The best source for Bitcoin Hard forks is Wiki

 

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