Best Methods On How To Earn Cardano (ADA) Fast
When alternate coins (altcoins) followed in the footsteps of parent crypto Bitcoin (BTC) to reach all-time highs in the first five months of 2021, several investors began the search for the next golden goose. Since Cardano presented a great project that has a roadmap to success, several investors conducted extensive research about the possibilities of its novel token ADA.
What continues to run in people’s minds is the anticipation of owning ADAs to enjoy the enormous growth of the coins should a price spike take it to new price milestones. Cardano (ADA) has risen significantly in price since the last bull cycle ended in May.
Cardano reached a new all-time high of $3.10 on 2nd September 2021 after trading on the downside for several years. Despite the upside, the price of Cardano is relatively lesser than Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB). This means that you can still earn millions of Cardano ADA coins with the little investment capital you have set aside to risk.
How Can I Earn Cardano Fast?
Below we've listed the best methods on how to earn Cardano very fast.
1. Get Paid in Cardano
2. Earn Cardano (ADA) from Interest Payments
3. Earn Cardano Through Promotions
4. Get Cardano (ADA) from Online Financial Systems
5. Earn Cardano Through Trading
6. Get Cardano From Games And Gambling Sites
Why Cardano (ADA)?
This article is about the best methods of how to earn Cardano fast but it would be a great deal of injustice to you as a reader if we just zoom in on the ways without tackling the most important question, why Cardano?
Created in 2017 by the co-founder of Ethereum, Charles Hoskinson, and his associate Jeremy Wood, Cardano is a decentralized blockchain network. Its novel token, ADA, helps in the facilitation of transactions. Cardano promises to provide users of cryptocurrencies and decentralized finance, on the whole, a better experience when compared to Bitcoin and Ethereum. The total supply of ADA Coins was capped at 45 billion. If you decide to become a Cardano (ADA) holder, here are some of the benefits you can expect.
- As an ADA holder, you should know that the Proof-of-stake (POS) algorithm makes the Cardano blockchain more scalable than others. Therefore, you can be rest assured that you own coins that run on a blockchain that can perform faster transactions at relatively lesser fees.
- Users get rewards for contributing to the network’s development, and the blockchain benefits from a secure environment.
- ADA has returned 1,305.33% year-to-date (YTD). Based on the possibilities of the blockchain and the teams behind its continuous development (Emurgo, the Cardano Foundation, and Input-Output Hong Kong), ADA promises more returns of investments (ROI) in the future.
- Cardano is the first peer-reviewed blockchain project. As a result, it has been cited by experts as one of the most secured networks in the space. Because of this, crypto activities such as sending funds globally and staking don’t expose users to any risk.
Now that you know what Cardano and its novel token are about, let us examine the top methods you can use to make ADA quickly.
Get Paid in Cardano
One of the easiest and fast ways to earn Cardano is to get paid in ADA. It doesn’t matter the kind of job you have, thanks to the advancement in technology, everyone seems to perform certain tasks from home. With the abundance of jobs on the various outsourcing portals worldwide, it has become easier than ever before to find any kind of tasks you can perform effortlessly as a side hustle to earn extra income.
But how can someone pay me with Cardano (ADA)? After accomplishing a particular task for a recurring client who seems to be tech-savvy and open to the use of cryptocurrencies, you can request payments via ADA. Once you have an account created on wallets such as YOROI or DAEDALUS, you can send details of your wallet to your client and payments will be made.
You must know that even in the corporate world, several businesses have started opening up to the idea of fulfilling the needs of employees that want to be paid by crypto.
Because Cardano employs Ouroboros (one of the advanced forms of proof-of-stake), many holders come together to confirm transactions. This has led to small fees being paid on transactions by ADA and it’s the primary reason why accepting payments via this crypto will be mutually beneficial. It should be noted that for someone to pay you via ADA, the two parties must interact on the blockchain of Cardano.
Earn Cardano (ADA) from Interest Payments
For those who already own ADA, it is possible to earn more Cardano coins through staking. Staking is the process of locking digital funds such as ADA for a specified period to contribute to the security of a block and earn network rewards. As a beginner, you must know that you cannot mine Cardano (ADA), you can stake it.
The simplest way of earning ADA through staking is by using a crypto wallet or a cryptocurrency exchange.
Staking ADA through Crypto Wallet - You can stake ADA using a hardware wallet, browser extension wallet, or desktop wallet. After conducting an extensive review of one of these wallets, you can choose one that meets your needs and interests.
As an e-learning organization, we would like to recommend YOROI and DAEDALUS wallets. These are the best and most used crypto wallets preferred by millions of traders and investors to stake ADA.
Editor’s Note: Please, try and understand how crypto wallets work before you employ them in your crypto investing needs. Since all the areas involved in cryptocurrencies are a bit complex, you do not want to risk money through a particular process you are not that knowledgeable about. For starters, we would recommend staking ADA through well-regulated cryptocurrency exchanges.
Staking ADA through Cryptocurrency Exchange - This is the most convenient way to stake ADA for most unsophisticated traders and investors (people who are new to the crypto world and do not embark on research on several topics across the space). The cryptocurrency exchanges that allow the staking of ADA which we would recommend for you are BINANCE and KRAKEN.
There are daily rewards for stakes on crypto exchanges. All you have to do is to create an account on those exchanges, choose a staking duration (30, 60, or 90 days, etc.), and you are good to go.
Binance used to have a relatively higher annual percentage yield (APY) of 21.79% in the early months of 2021. Once several people decided to join the staking wagon, this was reduced to 5%. Kraken offers annual percentage yields of 4 to 6% and their platform makes staking extremely flexible.
Using simple mathematics, we can determine the average APY on both exchanges as 5%. This means that if you own 100 ADAs, you’d get 5, 1000, you’d get 50, 10,000, you’d get 500, 100,000, you’d get 5,000, and 1,000,000 ADAs will bring you 50,000 free ADAs at the end of the year.
Editor’s Note: While staking is a great method on how to earn Cardano coins, you need to be vigilant when it comes to the selection of crypto exchanges. There are fake crypto projects that comprise fake crypto exchanges that will promise you relatively higher annual percentage yields (at least 25%). Once you stake all your tokens, the owners of the exchange convert your tokens into cash and take off. Because the crypto stratosphere is in the hands of its fans and not a central body, the perpetrators of such acts cannot be held liable for their actions.
Earn Cardano Through Promotions
You can earn Cardano coins through promotions. Affiliate Programs are one of the essential ways of promoting products for a commission. In this case, you are going to work for people online by performing certain activities.
Most of these activities are centered on surveys, watching certain videos, performing captchas, and reading short and long-form articles so that you can interact with ads.
You can earn more ADAs from affiliate programs if you direct a significant amount of traffic to interested websites and products.
But how am I going to do this? You can promote the banners of your clients on your blog, or post uniform resource locators (URLs) of their products on your social media platforms so that the company paying for the ads can convert more leads into sales.
Because of the increase in the price of ADA, do not expect to get millions of coins. You will be rewarded with constant ADA that will be able to add up to something in a given period.
Get Cardano (ADA) from Online Financial Systems
Cardano (ADA) is one of the large-cap digital assets listed on SKRILL. Before you buy ADA, you must be a Skrill Wallet holder. You must register for an account on the online payments platform and verify your account fully. Knowing Your Customer (KYC) secures your ADA holdings.
Earn Cardano Through Trading
Cardano trading is the fastest and most popular way of earning more ADA coins.
After correcting in the second week of September, ADA has gone back to trading below $3. This means that you can buy 1000 ADAs for less than $3,000.
Before you invest in Cardano on any cryptocurrency exchange, you must understand the primary drivers behind the novel token. What’s more, you must also conduct an independent review of all exchanges before deciding on depositing and risking your funds. Several cryptocurrency exchanges list ADA for trading.
After conducting thorough assessments of exchanges, Trading Education will recommend eToro Exchange to safely and securely store your coins. You can trade without any commission fees.
In terms of reputation, eToro has operated for more than 15 years without incident. The exchange is also compliant with anti-money laundering rules and upholds the Knowing Your Customer (KYC) phase of the verification process.
Other exchanges that are worthy of mention are Binance, Huobi Global, CoinTiger, OKEx, and FTX.
Don't Miss: Will Cardano Make Me Rich in 10 Years?
Get Cardano From Games And Gambling Sites
One of the fast-growing methods on how to earn Cardano (ADA) and other digital coins is through the playing of games on betting websites. Because of the reputation of Cardano as a third-generation blockchain that offers more than just cryptocurrency services, ADA cannot be found in several betting sites unlike other coins such as Bitcoin (BTC) and Dogecoin (DOGE).
You should know that just as you are online searching for money, most of these casinos, betting, and gambling sites were created to make money as well. It’s not a win-win situation. There is only a 50% chance that you will make gains from your gambling activities – this is because the house often wins.
The Final Take
Although there are several methods that you can use to earn Cardano (ADA) fast, you should know that each method comes with its unique set of risks.
You should always ask the question, do the potential rewards in using a particular method outweigh the consequences of the risks? While most of the methods provided are safe, thousands of people have been scammed of their funds by some of these methods.
Several experts believe that cryptocurrency exchanges are the best ways to earn ADA because they comply with regulations. Since they have different fee structures, supported countries, depositing methods, and annual percentage yields (APYs), get to know everything about your preferred exchange. This will help you know how much you can make from trading Cardano (ADA).
eToro – Best Platform to Buy Cardano
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.