5 Easy ways to earn free Ethereum in 2020
Ethereum is a very popular cryptocurrency. It is second by popularity after Bitcoin. There are a lot of reasons why it is such a popular project. It is promising because their team is creative and could prove that their products and services are excellent. That’s why a lot of investors around the world trust this company and in the possibility to earn money with it.
There are 4 basic steps that you need to follow if you want to earn Ethereum:
- Creating a wallet. This is the basic point. A wallet is a place where your money is stored. In the simplest words, it is a pair of public and private keys that are written in the file on the computer or a piece of paper. The more developed kinds of wallets are special software and hardware.
- Choosing the method of earning money. There are methods that require investments and methods that don’t require any investments. The first methods are riskier, but they are associated with higher income. The second is without risks, but you can’t earn as much Ethereum using them.
- Carrying out the chosen method.
- Taking profit.
How can we earn Ethereum? Let’s consider the methods in detail.
Methods without investments
There are a lot of methods that don’t require any investments:
- Ethereum cranes. These are types of web services that give you Ethereum for performing some actions. Usually, this is solving the captcha. Also, there are some other actions, such as watching an advertisement. If you do it correctly, the crane gives you a small amount of cryptocurrency. Cranes differ by a minimal withdrawal level, amount of money you can earn, and how regularly you get money. The most convenient method to earn cryptocurrency is mobile applications.
- Bounty and airdrops for earning Ethereum. A lot of blockchain startups give free Ethereum for performing some actions. The goals of these campaigns are clearly associated with marketing.
- Freelance work. This is classical freelancing, but you can get for your work Ethereum instead of fiat money. The most popular freelance websites, such as UpWork and XBTFreelancer, support payments in cryptocurrency. Local freelance websites usually don’t support Ethereum. That’s why you’d better use international websites. You should understand that Ethereum and other cryptocurrencies are very volatile. That’s why you can lose part of your income if a falling trend occurs.
- Affiliate programs. You can register on the cryptocurrency exchange and invite other people. You get money for every person you engaged or some percentage from his investments. The more people you invite, the more Ethereum you will have.
- There are some games where you can earn some cryptocurrency, but you aren’t able to earn a lot using this method.
You can earn more or less sufficient amount of Ethereum if you use the third method.
Methods with investments
All other known options are associated with investments. They can be unprofitable in a short-term perspective, but they must be profitable in the long-term. There are a lot of methods to earn Ethereum using investments. Let’s consider them.
- This is a classical method and a base of Ethereum’s work. Mining is the process of creating the blocks in the blockchain system. For mining, you need to buy a graphic card or ASIC. The equipment costs a lot, and you need a lot of time to cover the investments. Also, you need to pay money for electricity because mining requires a lot of it. Alternatively, you can use cloud mining for getting cryptocurrency.
- Due to the high popularity of Ethereum, it can be traded on all famous cryptocurrency exchanges. This is one of the riskiest and profitable kinds of investments. The principle of trading is easy. You buy Ethereum at a low price and sell it at a high. However, this is easy only at first sight because of the high volatility of Ethereum.
- Investing in ICOs and IEOs. If you think that some cryptocurrency is promising, you can invest your money in this project.
To sum up, there are a lot of methods of earning Ethereum. The more profitable the method is, the riskier it is.