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Gone are the days when individuals would spend a lot of time and energy mining cryptocurrency. This task is not only overwhelming, but it is also highly competitive. Yes, when you choose to mine bitcoin or any other crypto, prepare to compete with established businesses and huge mining firms.

This doesnt, however, mean that getting bigger bags of your favorite digital currency is now a near impossibility. All you need to do is offer some value in exchange for your preferred crypto. Below are some ways that can earn you this online gold in 2020;

1. Accept cryptocurrency as payment

If you have an entrepreneurial itch, or you own an online business, this is the time to accept digital currencies as payment.

There is an array of platforms such as WordPress, WooCommerce, and Shopify that permit merchants to accept digital currencies as payment. You can accept various coins and convert them into fiat or hold them until you choose to sell.

2. Buy cryptocurrency

One of the easiest ways to earn cryptocurrencies is by buying them. If you want to own Bitcoin, for instance, all you need to do is go to a Bitcoin ATM and get the coins with credit or cash.

Most digital currencies are not as accessible as Bitcoin. To buy them, you need to navigate through different crypto exchanges such as Binance, Coinbase, and Kraken.

When choosing an online crypto exchange, ensure you do your homework well, and ensure you select a reliable one that has the lowest transaction fees.

Trading in crypto exchanges is easy. All you need to do is sign up, and you can start buying and selling coins. However, there are some which require verification from your bank, and this process can take a few days.

3. Join several airdrops and earn

Airdrops are some of the most prudent methods of taking advantage of new digital currencies.

New projects often use airdrop campaigns to create a community around their project. This helps crypto fanatics to find more information about the project and earn tokens.

However, you dont receive tokens if you dont offer something of value in return. You are expected to complete an array of tasks which include;

When you complete these tasks and earn tokens, you can trade them for cash or other coins once the new project penetrates the market.

4. Promote projects through microtasks

Also referred to as bounties, microtasks are easy ways to earn cryptocurrencies. They are often given by new projects as a reward for completing a few simple tasks that include;

The goal of these tasks is to attract mass participation. The more the tasks you complete, and the more the quality of your work, the higher the rewards you get.

This is a realm that has opened a lucrative career for many people around the world, who are known as bounty hunters.

There are also platforms such as Bounty0x which have been developed to legitimize the micro-task industry. This site features a mutually incentivized ecosystem that allows startups to host bounties, bounty hunters to complete them, and users to check the quality of the work submitted.

If you are looking for the best way to earn cryptocurrencies in 2020, endeavor to join such a platform, and you might find a steady income out of it.

5. Earn cryptocurrencies by Staking

There are some lucrative coins that cannot be mined. You can get them by validating blocks using two methods Proof of Stake (PoS) and Proof of Work (PoW).

In PoW, users are required to mine blocks and authorize transactions through a pure computational power.

In the proof of Stake system, the person to authorize the development of a new block is selected using a deterministic method based on the number of coins he already has.

This method can be compared to a lottery game. The more the crypto coins you hold and stake, the more your chances of being selected to confirm the transaction.

What you need to remember is that for you to stake, you need to heave a few crypto coins. Therefore, you may need to utilize the other methods outlined in this article and only use this one to boost your stock.

There are a host of other ways you can use to earn cryptocurrencies, such as joining gambling platforms that pay winners in digital currency, freelancing and accepting payments in crypto, and joining crypto blogging platforms.

Final thoughts

As you capitalize on the methods outlined above to get a piece of the crypto world, you need to remember that this digital currency market is steered by emotions, and no one can predict the bottom or top of this market. The more coins you buy or earn, the more the potential volatility/risk you face.

Therefore, make sure you trade your cryptocurrency in trustworthy platforms such as eToro. You can read this eToro review by cryptonews.com to learn why this platform is the most recommendable one. Get as much knowledge as you can about the coins and tokens you earn so that you can maximize your chances of success.

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5 Ways to Earn Cryptocurrency In 2020 - MENAFN.COM