All you have to do is check out the news to realise that cryptocurrency is growing in popularity. As it continues its ascent, it’ll only become more and more in demand, meaning that those who want to get their hands on it may face an increasingly uphill battle.
Fortunately, you don’t have to fight anyone off to get yourself involved with the cryptocurrency market. There are tons of ways to jump into the market and make your mark with something like Bitcoin or Ethereum.
For a list of the best avenues to explore, you’ll want to check out the five suggestions outlined below.
The first thing you might think to do when trying to get hold of cryptocurrency is to buy it. However, how good of an idea this is generally depends on what a currency is worth at the time.
It’s not uncommon for them to be incredibly expensive nowadays, especially when talking about Bitcoin. Given the growing presence of cryptocurrency, the prices keep reaching new heights, which isn’t ideal for someone looking to get involved with this for the first time.
If you are going to buy, you’ll probably want to start by getting cheaper currencies through a crypto exchange. Anything that’s not Bitcoin ought to be relatively easy to acquire, although depending on the exchange service you use, it might take a few weeks for the purchase to be verified.
As cryptocurrency continues to amass interest, more and more projects are surfacing that expand and enhance the market. Getting involved with these projects in the early days is an excellent way for you to start building up your online wallet, as you earn tokens for doing some of the simplest tasks.
Merely downloading an app or following certain social media accounts can net you this reward because you’re helping the project gain notoriety. You’re ensuring that there’s a community around it before it hits the market, which is essential for its success. So, by doing your part, you can earn tokens that can later be traded or sold.
Microtasks, or bounties, are similar to this, although the tasks required of you are a little more advanced. Here, you might be expected to write a testimonial or film a review before earning a reward.
For a more interesting way to get your hands on cryptocurrency, you can always give competitions a try. These generally involve you playing games for the chance to win something like Bitcoin while also having fun in the process.
Although this might seem too good to be true, it’s a legit and straightforward way of getting free cryptocurrency. If you play with Traders Of Crypto you don’t have to worry about giving away any personal information that may put you at risk. All you’ve gotta do is provide an email address, and then you can start competing.
The games range from trying to be the best trader each month to identifying bugs in code, and they’re sure to make the hunt for cryptocurrency that extra bit more interesting.
If you have an e-commerce business, one opportunity that’s open to you is accepting cryptocurrency payments when someone makes a purchase. In addition to options like credit card and Paypal, you can also allow users to buy your stock using a variety of cryptocurrency options.
What currency you can accept will largely depend on the platform your e-commerce business uses. Some sites, like Shopify, are incredibly flexible and allow for payments using several hundred different types of cryptocurrency. So, if you’re not fussy about what you get your hands on, this can be a good place to set yourself up.
To those not in the know about cryptocurrency, mining for an online currency might not make a lot of sense. However, what this actually means is that you use your computer to solve complex equations that validate what you’re mining for.
Again, this is an area where Bitcoin can be problematic for a first-timer, as the equipment required to mine this currency is incredibly expensive. You need a lot of high-end tech to be successful with this endeavour, something that you may not be willing to purchase.
Fortunately, other currencies like Ethereum and Monexo don’t have such demands and can easily be done through a more standard computer. Just be aware that mining can use up a lot of power, so the costs to you will differ depending on the price of electricity in your area, as well as the efficiency of your equipment.
It might not always be stable, but it’s clear that cryptocurrency is definitely going to play a significant role in the future. If you want to have a part in that, getting your hands on some of it now through one of these varied ways could prove advantageous.