Guest Post

How Can You Earn Cryptocurrencies?

Written by: Coinpedia

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Coinpedia

Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

    Aug 19, 2021

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    Earning and trading crypto has become a popular occupation as thousands of people getting into it to make an earning.

    Studies have shown that more than 100,000 people have become millionaires. The interests aiming individual keep on growing compared to every year.

    Most people are familiar with the process of trading. Not only that, but they know what are the most profitable cryptocurrencies and know that Bitcoin is at the top. 

    But, not just Buying and Selling them, users also happen to search for ways to earn Crypto in different ways.

    Below are two standard ways for every beginner and pro must stick to in order to stay updated and find opportunities.

    1. Buying Them At Trading Sites

    The first option of earning crypto is to buy them at trading sites. These platforms have become extremely popular due to the fact that they can be accessed easily.

    Exchanges are now Super friendly and hence you can resort to buying crypto at any time and any place.

    Apparently, Security has become a major concern for the exchange platforms with the user behavior to unsafe ones/

    Make sure you make good research before choosing the trading sites. You can refer to its info on listing sites like coinmarketcap, user reviews, volume, and ongoing Airdrops.

    That includes reading user and expert reviews as well as checking the profitability rate of the chosen platform.

    There is an exchange Bitcoin prime, that is built with advanced features based on user behavior study. The platform has the potential to be one the best trading site on market.

    After you’ve registered and verified your account, you can select one of the available payment methods and use them to purchase crypto. 

    2. Mining Them 

    The second option is to mine them. Mining cryptocurrencies has its benefits, one of which is keeping the network stable. In layman’s terms, mining crypto is actually you verifying transactions.


    Each of those verified transactions becomes a block and it is part of the blockchain, which is the technology that powers cryptocurrencies. 

    Every cryptocurrency features mining, but the time in which one block is mined varies.

    For example, Bitcoin mining takes 10-20 minutes, while Ethereum’s mining lasts just a few seconds.

    Often, you will read and hear that mining cryptocurrencies is free, but there are actually a lot of expenses connected to this process. 

    First of all, you need a very powerful mining rig.

    They are quite expensive and they may cost u a few thousand dollars due to the fact that you need an extremely good graphics card and processor.

    Additionally, due to the fact that these rigs are constantly operating, they produce a lot of heat.

    That means that you will need to keep your room cool by installing an AC unit. The AC is yet another expense and that leads to higher electricity bills. 

    Conclusion

    In the end, when it comes to earning cryptocurrency, it is all down to individual preferences.

    Many consider buying crypto a much better option as the expense is more or less the same.

    Yes, mining is free, but there are a few expenses outside of that process which you won’t have by buying crypto. 

    Since the pros and cons of each type are close, many people resort to registering at trading sites like the one we mentioned and just buying crypto, rather than mining it.

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    Coinpedia

    Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

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