Best Methods On How To Earn Ethereum Fast
When the value of Ethereum’s novel token, Ether (ETH) reached a new all-time high of $4,362.35 in May on the back of the 3rd bull cycle in 2021, people took notice. Millions of people started finding new ways to get their hands on Ether tokens so that they could enjoy the meteoric growth of the coin’s price in the future.
Earning Ethereum (ETH) has not been reserved for traders and investors with high budgets, you as a beginner can also make Ether tokens fast.
How Can I Earn Ethereum Fast?
Below we've listed the best methods on how to earn Ethereum very fast.
1. Get Paid in Ethereum
2. Lending Ethereum for Profits
3. Earn Ethereum through promotions
4. Earn Ethereum (ETH) Through Mining
5. Ethereum Trading
6. Get Ethereum From Online Payment Systems
7. Get Ethereum From Games And Gambling Sites
Before we discuss the best methods of how to earn Ether (ETH) fast, it is important that we get to find an answer to the questions, why Ethereum and why Ether tokens?
Ethereum is the decentralized protocol that serves the purpose of enabling contracts and distributed applications to be built and run without any interference.
Ethereum was founded by Vitalik Buterin and 7 others in 2014. Ether (ETH) is the novel token of the Ethereum ecosystem. It plays a great role in settling peer-to-peer transactions online as well as serving as the primary token that is used to run the decentralized applications (DAPPS) on its issuing authority.
Here are the benefits to expect from owning Ether.
- Despite its milestones in 2021, Ether has a huge potential for growth due to the possibilities of the Ethereum Network. It can deliver high returns on investments (ROI) in the long term.
- The digital token also plays a great role as a store of value. Saving Ether funds for many has resulted in great gains. You can hold ETH anonymously and enjoy the rewards it provides.
- Ether has been listed as an option of payment on various online merchants. With this, it provides an alternate way of sending money across the globe quickly and cheaply.
- Owning Ether means that you as a holder become part of the Ethereum Network. This will help you play a key role in decision-making concerning network upgrades, reduction of mining rewards, and determination of percentage yields from staking.
Now that you know the rewards to expect from owning Ether, let us take a look at the top methods you can use to make Ether quickly.
Get Paid in Ethereum
One of the easiest and legitimate ways to earn the coin is by working to earn Ether tokens. Whether you are a ghostwriter, editor, graphic designer, singer, engineer, online marketer, proofreader, or any niche of your choosing, you can display your skills to a client and ask them to pay you with Ether (ETH).
Several organizations have begun accepting Ether as one of the best payment methods they could employ in their financial transactions. This is because transactions are cheap, fast, and occur privately. To give you an example of how great ETH is to companies, processing hundreds of payments via wire transfers takes a great deal of time. Aside from that, there are hidden costs in the transactions that will be absorbed by the company doing the payment or as part of transaction fees by the client who receives the payment.
However, the use of Ethereum’s protocol to process transactions means that the fee becomes small. The only requirement is that the individual or company (payer) and the independent contractor (payee) must be on the Ethereum Network.
Although we do not have many websites that pay in Ether like we have websites that pay in Bitcoin (BTC), you can still find work on some platforms and ask for pay in ETH.
Platforms such as Craigslist, People per Hour, Freelancer.com, and Guru.com are some of the thousands of outsourcing and freelance marketplaces where your work could be duly rewarded in Ether coins.
Lending Ethereum for Profits
If you are already an Ether holder, one of the ways to earn more Ether tokens is by lending them out for profit. Depending on the trustworthy relationship you have with an experienced trader, you can lend ETH coins and the interest accrued from the usage of your coins can then be used to buy more Ether.
To be more specific, there are two ways of earning Ether from interest payment, and this is through decentralized lending and decentralized exchange activities on the Ethereum Network.
- Decentralized lending: Applications such as Aave, Compound, and Oasis allow you to lend your tokens to earn interest. There are thousands of people who borrow Ether (ETH) to fulfill their day-to-day cryptocurrency trading and investing needs. You can choose from a range of pools that meet your “interest” goals. Once the time on the lending ends, the percentage yield will be credited to your account.
- Decentralized Exchange: Applications such as Uniswap and Sushiswap allow you to become a liquidity provider (LP). Since DEXs are automated market makers that do rely on the possibilities of smart contracts to fulfill orders, there is always a need for an abundance of liquidity. You can deposit your Ether. The level of interest payments you will receive is highly dependent on the duration you are willing to stake your tokens for.
While Ether lending is one of the great methods on how to earn Ether tokens fast, you shouldn’t throw all your money into liquidity pools. Spread your Ether tokens around so that in case something happens on a particular DAPP, your holdings in other areas will make up for those losses.
Earn Ethereum through promotions
If you would love to earn Ethereum without enough money to buy it, there are websites where Ether tokens are flowing freely. They are collectively known as Ethereum Faucets.
Ethereum Faucets reward people with tiny amounts of Ether coins when they interact with numerous ads as well as complete certain captchas.
Some of these Faucets include but are not limited to, Free-ethereum, Freeethereum, Firefaucet, Faucetcrypto, Esfaucet, Althub, Allcoins, Luckyfish, Wolfbet, and Trustdice.
While these faucets do not pay in high amounts of Ether coins, it could go a long way to adding up to the value of full Ether someday.
Earn Ethereum (ETH) Through Mining
Ethereum Mining is one the best methods of how to earn Ether coins online fast. Since mining is the primary process by which new blocks are generated, new coins are released, and transactions are confirmed on the Ethereum Network, it has become one of the recommended ways to earn Ether.
There are two ways to get into mining.
To mine Ether, there are specifics you need to have. Because Ethereum runs on a proof-of-work (POW) system, you need to buy computer hardware that is categorized under Application Specific-Integrated Circuits (ASICs). Unfortunately, the Graphics Processing Unit (GPU) and Central Processing Unit (CPUs) of popular personal computers cannot be used to confirm transactions. Once you have your system set up, you can become a part of the mining community as an individual. This way, you enjoy all the rewards and bear all the risks.
If you are unable to purchase the equipment, you can still mine Ether. This is in a group called mining pool. With this, you have to go through a process that has been summarized below.
Create a wallet, find a reputable miner online, join a pool of miners and from then, see your Ether rewards reflect in your wallet. Because you are in a group, all rewards are shared.
Earning Ethereum on exchanges is one of the fastest and most used methods. Trading takes place on cryptocurrency exchanges where you can buy and sell Ether when its price is low and high respectively.
You shouldn’t just jump onto cryptocurrency exchanges and just purchase Ether. Instead, you should understand the market as well as its associated risks. One of the important factors you should take into consideration is the identification of the right platform that can hold your Ether coins. As an e-learning organization, we would recommend eToro for you. But there are others such as Binance, Huobi Global, Coinbase, Kraken, and OKEX among others.
Understand the positives and negatives of investing in Ether before deciding on the digital asset.
Get Ethereum From Online Payment Systems
This is one of the methods of earning Ethereum that was introduced in 2020. Online payment systems PayPal and Skrill list Ether and other cryptocurrencies. You can create a cryptocurrency portfolio by buying any amount of Ether, hold, as well as sell your holdings for other coins or fiat currency.
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Get Ethereum Through Games And Betting
This is one of the fast-growing methods on how to earn Ethereum quickly. Many games and betting sites such as Pasino, Trustdice, Chips, Wolfbet, Cryptogames, Bitvest, Bitsler, Bcgame, Luckyfish, Stake, Bplay, Primedice, Windice, Paradice, Casinoroyale, Duckdice, Nanogames, and Faucetpay can help you earn ETH.
You can choose from the list the site that suits your gambling needs. Since they accept Ether as a payment method for deposits and withdrawals, you can consider this method as one of the fastest ways to earn Ether tokens by having fun.
The Final Take
Although there are several methods you can employ to earn Ether coins fast, you should know that each method comes with its unique risks. Ensure that you understand the pros and cons of the method selected to earn Ether tokens. This will limit your chances of falling victim to scams.
Though several analysts and experts recommend trading on cryptocurrency exchanges as the best method to earn Ether coins, you must utilize their demo accounts before making steps to risking money on a live account.
More importantly, you should understand the associated costs involved in depositing and trading on your selected exchange of choice. This will aid you in knowing the amount of Ether tokens you can earn.
eToro – The Best Platform to Buy Ethereum
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.