If you’ve recently been on Facebook, Twitter, or anywhere else on the internet, then you probably already heard of Bitcoin.
Thanks to its record-breaking streak over the past few months, everyone wants to get into the cryptocurrency craze. And if you’re reading this, chances are you want to jump on the bandwagon yourself.
There are only two possibilities. You could be:
- Interested in online and offline transactions that exclusively accept Bitcoin
- Looking at cryptocurrency as a potential, long-term investment vehicle
In this post, we’ll talk about some of the best ways to earn or buy your way into the cryptocurrency market.
The most straightforward way to own cryptocurrency is to buy them from an online exchange. Coinbase is one of the biggest cryptocurrency exchanges in the United States. As it stands, it allows you to trade Bitcoin, Litecoin, and Ethereum — three of the most significant cryptocurrencies to date.
To start, sign up for your first digital currency wallet for storing the “keys” to your crypto coins. This can be completed by supplying your name, email, and password into the one-step registration page. You’ll also be asked to verify your account via SMS upon logging in for the first time.
Aside from trading cryptocurrencies, Coinbase also provides some benefits to its users. You can schedule recurring buys, use the mobile app for accessibility, view interactive price charts, and more.
Complete Video Challenges
One of the best things about cryptocurrency is its versatility. With the right idea, it can disrupt just about any industry relevant to man. And in some cases, it can also give birth to one.
A startup called Eristica, a pioneer in the “FunTech” industry, allows users to complete challenges in exchange for crypto coins. It runs through four core components: smart contracts, a decentralized voting system, indisputable video proofs, and absolute transparency.
Today, you can find tons of different challenges on their app — from shaving your eyebrows to eating spicy noodles. After creating your account, you can take on these challenges and upload your video proof. Once the Eristica community decides that you completed the challenge fair and square, you are then awarded cryptocurrency.
Get Paid for Messages
Another simple way to earn cryptocurrencies is through a service like Earn.com. All you need to do is create an account and answer paid messages or surveys from companies that interest you.
Who would pay for your response? Other than companies that want your feedback on their products, some employers may need people with your skillset.
Mine for Them
Finally, people with deep pockets can still leverage the traditional way of obtaining Bitcoins — mining for them. This is done through Proof of Work (PoW) hashing, which is the process of solving cryptographic puzzles through mining rigs.
Unfortunately, this opportunity is now only profitable to those with specialized equipment for the large-scale mining of Bitcoins. It’s still theoretically possible to obtain your first crypto coins via mining, but it’s simply no longer practical. The amount you spend on electricity and the rig’s components will most likely be more than what you can generate.
Cryptocurrencies have paved the way for numerous innovations across industries. In turn, these innovators have made it easier for anyone to get into the cryptocurrency markets. Hopefully, the list above gave you enough ideas on how you can make your entry.