Best Methods On How To Earn Balancer (BAL) Coins Fast

Last Updated March 25th 2022

10 Min Read

How Can I Get Balancer (BAL) Coins?

BAL is backed by one of the most innovative technologies in the automated market-making space. In this article, Trading Education shares numerous methods on how to earn Balancer coins fast.

According to analysts, as per “investor sentiment and the overall direction of the crypto market, they think Balancer (BAL) has a good chance of visiting the $50 to $75 market in 2022.”

By following this article to the end, you will be informed about a minimum of 6 authentic ways that can help you earn Balancer tokens fast.

How Can I Earn Balancer (BAL) Fast?

Below, we have listed the best methods on how to earn Balancer very fast.

1. Balancer Trading

2. Balancer Mining

3. Balancer Staking

4. Lend Balancer for Profits

5. Earn Balancer through Promotions

6. Get Paid in Balancer

Why Balancer (BAL)?

Although you may want to invest in Balancer, you should not make rash decisions.

Let us examine what Balancer entails so that you will trust the process of the best methods of how to earn Balancer (BAL) fast.

Launched in March 2020 on the Ethereum blockchain, Balancer is an automated market maker (AMM).

As a decentralized application (DAPP) functions as a price sensor as well as a liquidity provider.

Instead of making payments to portfolio managers, Balancer helps users collect fees from traders who rebalance their portfolios by following arbitrage opportunities.

Although they are used interchangeably, Balancer is the protocol, and BAL is the native asset and cryptocurrency of the project’s ecosystem.

As a cryptocurrency, BAL can be sent to anyone across the globe with internet access without help from centralized authorities.

There are several benefits of holding Balancer and some are considered below:

1. Passive Income

Cryptocurrencies have led to a financial revolution. Gone are the days when you could only make side income through centralized bills and bonds.

Almost gone are the days when you could only trade centralized assets such as stocks, commodities, metals, and natural resources. Nowadays, the underbanked and unbanked are part of an extensive financial system thanks to cryptocurrencies.

You can take advantage of liquidity pools across decentralized finance (DeFi). There are several areas in lending, insurance, exchange, and yield aggregation that could see you make decent income periodically.

Aside from this, you can trade Balancer for fiat (BAL/USD, BAL/EUR, or BAL/GBP) and Balancer for other crypto tokens (BAL/BTC, BAL/ETH, or BTC/.ADA). In bullish days, you can make awesome returns.

2. Cheaper Way of Sending Money Online

A few years back, online remittance companies were making billions of dollars in cross-border transfers.

With little to no competition at the time, fees could rise to at most 50% of the total amount sent, especially transfers to remote corners of the world.

The introduction of cryptocurrencies has reduced fees to new high lows. You can send any amount of money in BAL from your wallet to another wallet in any corner of the globe and transaction fees will be insignificant compared to centralized systems.

3. Draw You Closer to Decentralized Finance and Non-Fungible Tokens

Ethereum has a first-mover advantage in DeFi and NFTs because of the introduction of the first smart contract-backed blockchain technology.

The highest DAPP with the most total value locked (TVL), Curve (CRV), runs on Ethereum.

The highest selling NFT collectibles (the Bored Ape Yacht Club) (BAYC) and its brother the Mutant Ape Yacht Club (MAYC) are available on OpenSea (NFT Marketplace that operates on Ethereum).

Aside from this, Ethereum controls more than 50% of decentralized finance and records the most volume in total NFT sales.

Since Ether (ETH) is used in all transactions, you can swap your BAL tokens for ETH and experiment with digital collectibles and DAPPS.

4. Massive Growth Potential

The entire BAL project is less than five years old. This means that the BAL token has less than 5 years of experience as a crypto trading asset.

You should know that BAL is currently trading below 80% of its all-time high price of $74.77 recorded on May 4, 2021.

This means that based on the possibilities of Balancer and the extensive adoption of decentralized finance protocols, BAL could retest such highs.

Analysts at PickACrypto believe BAL could trade in the range of $200 to $500 by the end of 2025 if the teams continue to develop innovative products.

BAL is trading below $20, as of writing. The token has transformed the portfolios of many traders and could brighten up yours in the future.

Let us zoom into the best methods on how to earn Balancer since you have been well-informed about the benefits of being a BAL holder.

Don't Miss: Balancer (BAL) Price Prediction

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Best Methods On How To Earn Balancer (BAL) Coins Fast

1. Balancer Trading

Trading is one of the best ways of earning Balancer coins fast. BAL is supported by eToro, Binance, Coinbase PRO, OKX, DigiFinex, Kraken, FTX, and Bitvavo among others.

These are some of the biggest cryptocurrency exchanges by daily volume. You will have to find the best way to trade Balancer by searching for the best way to buy BAL.

Through trading, you could see a spike in your BAL investments. One of the questions that trend online is how can I invest in BAL?

You can trade and invest in BAL by creating an account on one of the aforementioned exchanges.

Trading Education would like to recommend eToro since they are regulated, have a great reputation, supports several payment methods (including PayPal, Skrill, and co.), records billions in daily trading volume, and supports many countries.

You can register for an account on eToro by providing your name (full name as it appears in your passport or national identification card), provable residential address, active contact number, and email address.

As part of the verification process, email addresses, and phone numbers will be verified first. After that, eToro will ask for a government-issued card that confirms the details of your particulars.

Aside from this, eToro will ask for a bank or credit card statement that confirms your residential address.

You have to deposit funds in the form of fiat (USD, EUR, or GBP) as, without this, you cannot buy BAL.

After depositing is complete, you have to navigate to the Balancer (BAL) Page. On this page, you can order several BAL tokens, and they will be added to your account.

Trading has helped many people earn more BAL coins and could help you too.

2. Balancer Mining

One of the best methods of earning Balancer (BAL) fast is through mining. After its launch, one hundred (100) million tokens were created to allow more decentralization and serve as an incentive for Liquidity Providers (LPs).

Out of this, 25 million BAL coins were reserved for the people behind the project, 5 million BAL coins were allocated to the Ecosystem Fund, and another 5 million BAL tokens were allocated for the Fundraising Fund.

This led to 30 million BAL being taken off the market with 70 million BAL coins left to be mined.

The tokens are released at a rate of 145,000 per week. This means that 580,000 coins are released monthly and 6,960,000 coins are released annually.

As of writing, out of the 70 million, 6,943,831 BAL are in circulation which is represented by 7%. This means that 93% which is represented by more than 63 million are still unmined.

Since Balancer is a project that is housed in the ecosystem of Ethereum, its native asset, BAL, is subjected to the proof-of-work (POW) system of Vitalik Buterin’s innovation.

Proof-of-Work (POW) comes with high carbon emissions due to its energy intensiveness. Therefore, you cannot mine POW-backed tokens such as BAL by using the Graphics Processing Unit (GPU) and the Central Processing Units (CPU) of your personal computer. You will need application-specific integrated circuits (ASIC) computers that can help you validate and verify transactions.

After verification and validation, miners are given rewards.

You can use these rewards to buy more Balancer tokens.

3. Balancer Staking

The future of proof-of-work (POW) is still unknown since current blockchain technologies have ignored that algorithm and have instead embraced proof-of-stake (POS).

Once Ethereum reaches full functionality in proof-of-stake, possibly, by the end of 2022, mining could become obsolete. As a result, there is a huge chance that POW-backed tokens such as BAL will move from mining to staking.

This way, you can earn BAL tokens fast by committing a sizable amount of your BAL into a staking pool that will be used to verify and validate transactions. The staking rewards can then be converted into buying more BAL coins.

4. Lend Balancer for Profits

Balancer’s presence on Ethereum should make you happy as a holder. This is because the token is exposed to thousands of decentralized applications.

With liquidity providers (LPs) always in demand, you can commit some of your BAL tokens into decentralized lending, exchange, yield aggregation, and insurance pools.

Depending on the annual percentage yield (APY) being offered by an application, you could be making massive profits.

You can then invest these profits into the buying of more BAL tokens from the aforementioned exchanges.

5. Earn Balancer through Promotions

There are several promotions in the crypto finance space.

It could be cryptocurrency exchanges promoting the listing of a token such as BAL or individual organizations airdropping BAL because they have accepted the token for the payment of goods and services.

Once you invest in BAL with any amount of money and you stay glued to news around the project, you can participate in several such events. The result could be an influx of BAL coins in your crypto wallet.

6. Get Paid in Balancer

If you have not tried it before, 2022 could be the perfect time for a start. You can ask your Chief Finance Officer if your company has started rolling out payments in crypto in addition to fiat.

With your crypto wallet, you can tell them to pay your salary in Balancer (BAL).

If your company does not accept this, you can find work on outsourcing platforms. Once you build long-lasting relationships with clients who are open to paying through crypto, you can send your wallet address, and receive your payment in BAL.

Conclusion

You have been thoroughly informed about the best methods on how to earn BAL tokens fast. Thread with caution as you try out these methods. The crypto industry comes with risks so there is no guarantee of your earning tokens fast. Investing in BAL has worked for some, who knows, it could work for you too.