Today, the editorial staff of Btcnewsweb.com proposes to consider how to get and earn Ethereum Classic – this is an Ethereum fork that appeared in 2016 due to disagreements in the community regarding the integrity of the blockchain. Since then, the project has been actively developing and expanding the circle of users. So, in December 2020, the blockchain research company IOHK announced the restart of the Mantis client, which was originally developed for Ethereum Classic by them four years ago. The rate of the ETC cryptocurrency is now growing at a rapid pace, so it will not be superfluous to learn about the methods of obtaining it.
How to get Ethereum Classic by purchasing
Cryptocurrency exchanges are large-scale trading platforms within which you can exchange cryptoassets for each other or for fiat money, as well as perform many other operations – for example, make money on trading, receive passive income on cryptocurrency, take crypto loans, participate in free giveaways etc. The set of functions depends on the specific exchange.
Instructions for buying Ethereum Classic cryptocurrency on the exchange:
- Go through the standard registration procedure.
- Verify your account, if the site rules require it.
- Add assets to the exchange account that will be used for the purchase, for example, rubles.
- Create a trade order to exchange your existing currency for ETC.
Also, some exchanges provide the option of direct purchases from a card. In this case, you do not need to replenish the account, but you need to go to the “Buy cryptocurrency” section or similar, then enter the amount and pay for the purchase with a bank card.
Through exchangers, you can easily and quickly purchase the desired cryptocurrency by paying with a regular ruble card or wallet in the payment system. There are a lot of similar services on the network, but in order not to fall for the tricks of scammers, use special monitors or our list of trusted exchangers to choose from.
Procedure when using the exchange service:
- Indicate the currency you plan to spend.
- Specify the currency to receive – Ethereum Classic (ETC).
- Specify the purchase amount.
- Enter details.
- Create a request.
- Pay the application within the allotted time by transferring assets to the specified account.
- Confirm the payment and wait for the return payment.
Tracking the status of the created application is always available on the site, and usually notifications are received by email. If the application for an unknown reason is canceled after payment, immediately write to technical support.
Buying cryptocurrency through software wallets is convenient because the purchased assets are immediately credited to the account, eliminating the need to perform unnecessary operations, for example, transferring from the exchange. However, convenience comes with higher fees.
How to buy Ethereum Classic through a wallet:
- Install a suitable cryptocurrency wallet.
- Press the button “Buy cryptocurrency” or similar.
- Select the required cryptocurrency.
- Enter the transaction amount, taking into account the minimum and maximum limits, as well as paying attention to the commission.
- Enter the information about your bank card, which will be requested by the payment provider. Confirm the operation.
The duration of crediting depends on the work of the payment provider and the bank, but usually does not exceed 15 minutes.
In addition to the website, many exchangers provide the ability to make purchases using telegram bots. To do this, you need to find information about the bot on the exchanger’s website, copy the address and add it to the messenger.
Using bots is a simple procedure, just use the buttons in the chat window to select the desired functions. The management is intuitive and allows you to quickly create an exchange request, after which all you have to do is pay for it.
Mining Ethereum Classic (ETC) by mining
Ethereum Classic is mined on the Etchash algorithm; GPUs can be used for mining. To start mining you will need:
- Calculate potential return. This can be done using calculators such as https://whattomine.com/coins.
- Purchase equipment. Video cards with a memory capacity of 3-4 GB are suitable.
- Build a mining farm. In addition to video cards, other computer components will be required – a motherboard, a power supply (of sufficient power to pull all the elements), a processor, and RAM.
- Use MSI Afterburner to overclock video cards. This must be done very carefully. Gradually add key parameters, and if you see that the equipment begins to behave abnormally, roll back the settings one step back.
- Choose a program for mining Ethereum Classic. Common applications are Gminer, PhoenixMiner.
- Select a pool and join it. The most popular options are Etherpool, BeePool, Hiveon, f2pool, 2Miners.
- Install a secure wallet for ETC and configure the software so that mining proceeds go there.
After that, it remains to launch the program and observe the growth of the cryptocurrency in the wallet.
Earning Ethereum Classic on taps
The crane allows you to receive a small amount of cryptocurrency once in a while. It’s totally free. Finding real working faucets with Ethereum Classic is not easy, since there are much fewer of them than, for example, for BTC.
Many faucets also offer additional earning opportunities – lotteries, gambling. Any options related to the investment of funds, you use at your own peril and risk. They also earn money on faucets using a referral program by inviting new users.
Where to store the received ETC coins
Ethereum Classic cryptocurrency allows hardware wallets (Ledger, SafePal, Trezor) to work, as well as many software services, for example:
Ethereum classic, according to analysts, has the same good prospects as Ethereum. Now, against the background of the general bull market, this coin is one of the fastest growing, which attracts the attention of investors. The main thing is that the developers do not stop there, but continue to develop and improve the project. We talked about how in modern conditions to get and earn Ethereum Classic, in case you consider this coin as a promising investment asset.