How Can I Get STORJ?
STORJ is a cryptocurrency backed by one of the most innovative technologies in the crypto finance space. In this article, we will provide you with the different methods on how to earn STORJ fast.
STORJ, like all cryptocurrencies, has been hit hard by the bearish outlook of the market in 2022.
STORJ continues to trade below $2 in March 2022 after reaching an all-time high price of $3.91 at the peak of the market in May 2021. This makes the crypto trading asset a low barrier of entry for beginners.
However, according to the analysts, STORJ could increase to a maximum price of $1.63 by the end of 2022 (short term), spike to the best possible price of $2.46 by the close of 2025 (medium-term), and soar to the highest possible price of $3.86 on Dec. 31, 2028 (long term).
Such estimates have brought attention to the token across search engines globally.
One of the questions that continues to gain traction is, what are the best methods on how to earn STORJ fast?
As of 2022, there are more than 18,000 coins in the market. Therefore, you do not have to dream about owning STORJ tokens. By following this article in its entirety, you will learn about at least 5 legal ways you can earn STORJ fast.
How Can I Earn STORJ Fast?
Below, we have listed the best methods on how to earn STORJ coins fast.
1. Get Paid In STORJ
2. STORJ Trading
3. STORJ Mining
4. STORJ Staking
5. Lend STORJ For Profits
6. Get STORJ Through Promotions
Why STORJ Coins?
It would be in your interest to get to know more about the Storj crypto project before diving into the best methods of how to earn STORJ coins fast.
Storj was introduced in a whitepaper in 2014 by Shawn Wilkinson. The Storj Protocol uses a decentralized network of nodes to host user data. In addition to this, Storj secures hosted data using advanced encryption.
Although they are used interchangeably, Storj is the protocol and STORJ is the native asset of the ecosystem as well as the cryptocurrency of the entire project.
Housed on the Ethereum Network, holders of STORJ can send and receive the tokens via the internet without any centralized financial institutions.
Several benefits come with owning STORJ coins and some of them are briefly discussed below.
1. Offers a Cheaper Way of Sending Money
Cryptocurrencies were created to compete with fiat currency. Aside from that, they were created to make up for hidden costs that are involved in fiat transactions, especially cross-border payments.
Most often, senders had to pay more to send a specific amount of money to friends, family, and workers.
With STORJ and cryptocurrencies in general, all you need is a wallet address from a crypto wallet that supports the token such as Ledger, Trezor, MyEtherWallet, TrustWallet, and Atomic Wallet.
With this, you can be paid huge sums of money in STORJ and it would come with very low fees.
2. Draws You Closer to the Blockchain Technology and Crypto Market
Although Storj is a protocol and project on its own, it is housed in the Ethereum ecosystem.
Therefore, you will be exposed to other areas of this ecosystem such as decentralized finance (DeFi), decentralized protocols and applications (DAPPS), non-fungible tokens (NFTs), and stablecoins among others.
This is because the best NFT Marketplaces, decentralized exchanges, decentralized lending platforms, play-to-earn games, and yield aggregation protocols can all be found in the ecosystem of Ethereum.
2. Provides Passive Income
You can trade STORJ on cryptocurrency exchanges that support the token such as eToro, Binance, OKX, Upbit, Coinbase PRO, and others to make decent passive income. Aside from this, you can stake STORJ on exchanges that support staking such as OKX, Coinbase PRO, and Binance.
This way, you lock your STORJ into a liquidity pool and earn annual percentage yields (APYs) in the region of 5% to 10%.
3. Huge Growth Potential
STORJ does not have the trading experience of Bitcoin (BTC), Litecoin (LTC), Dogecoin (DOGE), or Dash (DASH).
The project is still young and there is huge growth potential. Although decentralized cloud storage networks continue to gain a huge following, there are millions of people who are still sold into the idea of using centralized cloud storage networks.
This is because centralized entities have physical infrastructure and representatives that could be held accountable should something go wrong.
The growth potential is what has made crypto forecasting portal Price Prediction make bullish estimates for the crypto token. According to the experts, STORJ could command a trading price of $30.18 by the year’s end of 2030.
Suppose you invest $1,000 in STORJ which could get you approximately 854.70085470 STORJ and if such a milestone is tested, your investment could balloon to a staggering $25,773. STORJ has the potential to transform the portfolio of growth and value investors in the not-too-distant future.
Let us analyze the best methods on how to earn STORJ coins fast since you now know the extensive benefits of being a STORJ holder.
Don't Miss: Storj 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 STORJ Fast
1. Get Paid in STORJ
One of the easiest and fastest ways to earn STORJ is to get paid in STORJ.
Due to the decentralized nature of work buoyed by the effects of blockchain technology and the internet of things (IoT), crypto has found its way into the list of payment methods accepted by millions of people and organizations.
Therefore, if you want STORJ but cannot find a way to get your hands on some, you can request your next payment in STORJ coins.
You must register for a crypto wallet that supports STORJ.
After you are done, you have to store your password as well as your private key (a minimum of 12 and a maximum of 24 names).
Without your private keys, you cannot access your wallet no matter the amount of money in your account.
Every wallet comes with a unique address.
After you are done with work as a writer, editor, graphic designer, proofreader, and others, you can send your wallet to your employer. Your employer will then effect payment in STORJ which will be held in your wallet.
If your current employer does not support crypto payments, you can do a side gig by finding opportunities outside of work.
Once done, you can try your hands on crypto payments, and see STORJ deposited to your crypto wallet.
2. STORJ Trading
Per analysts and experts, this is one of the best ways to earn STORJ coins. As of Thursday, March 24, 2022, 41 cryptocurrency exchanges support the trading of STORJ.
Most of the exchanges (Coinbase PRO, Binance, OKX, eToro, Upbit, Gate.io, and more) are some of the largest platforms by daily trading volume.
What this means is that there is always someone at the end of your personal computer or smartphone ready to meet your order.
These platforms are highly regulated, have a great reputation, provide loads of payment methods, support many countries, and are easy to use.
You can trade STORJ by creating an account on eToro by providing details of your full legal name, active phone number, provable residential address, and active email address.
You will go through Know Your Customer (KYC) which will fully verify your account.
After this, you will have to deposit fiat in the form of USD, EUR, or GBP to your account.
Once done, you can navigate to the STORJ page, order your coins, and they will be processed and completed.
Once there is a spike in price to new high highs, you can use the profit from the sale to reinvest in more STORJ tokens. This way you increase the number of STORJ coins in your investment portfolio.
Read Also: The 5 Best Ways To Buy STORJ
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. STORJ Mining
As of Thursday, March 24, 2022, there are 385,770,353.65 STORJ in circulation from a total supply of 424,999,998. This means that 90% of the tokens have been mined with 10% in the region of 39,229,644.35 STORJ still up for grabs.
According to the whitepaper of Storj, “node operators get rewarded for hosting data as well as confirming the safety and retention of the hosted files randomly in a process known in the crypto world as mining (proof-of-work).
Proof of Work (POW) requires energy-intensive computing systems to be able to ensure that the aforementioned statement comes to fruition.
The only way you can enjoy such rewards is to have Application-Specific Integrated Circuits (ASICs) systems that cost huge sums of money.
Aside from this, you need to set money aside for electricity costs if you want to be an individual miner.
On the other hand, you can join a mining pool where you all contribute power to the mining of STORJ.
Since you are in a group, rewards in the form of STORJ tokens will be shared.
This is one of the ways of earning STORJ coins fast.
4. STORJ Staking
The Storj Protocol resides in the Ethereum ecosystem.
Founder of Ethereum Vitalik Buterin modeled Ethereum after Bitcoin. As a result, it also employed the proof-of-work (POW) algorithm used by the first blockchain-backed cryptocurrency. This is why Ether (ETH) is also mined.
Ethereum launched Ethereum 2.0 in December 2020 with several upgrades such as the London Hard which introduced a burning mechanism called EIP-1559 in August 2021.
Ethereum aims to make a full transition from Ethereum 1.0 (POW) to Ethereum 2.0 (proof of stake) by the end of 2022.
Once this happens, Ethereum will become a proof-of-stake network. This way, mining rewards could disappear completely. Staking will be the new way of earning rewards.
In this situation, you will have to commit a certain number of STORJ to the network, and this will help in the verification and validation of transactions.
You can earn more STORJ since staking rewards would be paid in the STORJ coins.
5. Lend STORJ for Profits
There are many ways of earning passive income on Ethereum.
There are several decentralized applications (DAPPS) in search of liquidity providers.
Since Ether (ETH) oversees all transactions on the Ethereum ecosystem, all you have to do is to swap your STORJ for ETH.
You can then join liquidity pools based on the percentage yield that meets your preferences.
Once done, you then wait for the period to elapse, and then your rewards will be paid to your crypto wallet in Ether.
You can then use your newfound ETH coins to buy more STORJ coins.
6. Get STORJ through Promotions
Cryptocurrency exchanges and decentralized finance enthusiasts normally hold events online.
Through these events, several cryptocurrencies are sent to specific wallet addresses based on length of usage, loyalty purposes, or as part of the launch of a company that accepts a specific token as a payment method.
As someone with a stake in STORJ and the entire crypto finance space, you can get several STORJ coins for free by being informed about STORJ promotions.
Some of these events include airdrops and token listing promotions by exchanges.
Conclusion
Trading Education has given you a comprehensive list of the best methods on how to earn STORJ fast.
Although we pointed out a lot, some of the best methods of how to earn STORJ are through trading, mining, and direct crypto wallet payments.
eToro — Top Cryptocurrency Platform To Buy Storj
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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