Ethereum (Ethereum) is a decentralized blockchain network and platform for creating Dapps-applications that are controlled by smart contracts. The local currency is ETH (ether). In 2017, there was a peak in the popularity of ICOs that were held on the platform. At the same time, the project issued its own cryptocurrency, which is called ERC-20 tokens. Against this background, the cryptocurrency rate has grown tenfold and exceeded $ 1000 per 1 ETH. Early investors made big money on the pump. In 2018, the rate is moving down with insignificant upward bounces, so those who are shorting (selling) are already making money on Ethereum. In the article, the editorial staff of Btcnewsweb.com reviewed the main ways to get Ethereum, including without investments.
How you can earn or receive Ethereum (ETH)
Current ways to get or earn Ethereum (ETH):
- Trading on crypto-exchanges. For example, Binance, EXMO, Currency.com, Bybit, Cex.io, FTX, Huobi, Crex24, etc. You can trade derivatives on the BitMEX crypto exchange. The maximum leverage is x50. Replenishment of the account balance is possible with Bitcoin (the minimum amount is 0.0001 XBT).
- Ethereum faucets. This is an option for making money without investment. On such sites, you can get coins after a certain period of time for performing simple actions.
- Mining. This is the mining of cryptocurrency using computing power. At the time of this writing, Ethereum mining is not profitable at the current rate ($ 100). It makes sense to do it if you have access to free electricity and low costs for equipment maintenance.
- Long-term option (hodl), how to make money on Ethereum: buy ETH on an exchange or in a cryptocurrency exchanger, withdraw it to a wallet and wait for a new increase in value in the coming years. The market is cyclical, a fall will necessarily be followed by an increase.
Make money on the Ethereum faucet without investment
The most popular way for owners of Ethereum cryptocurrency is to earn it on cryptocurrency faucets. The option will not require additional cash costs and investments. There is no risk of losing funds. The main thing is to find reliable faucets that pay and withdraw the earned Ethereum.
Most online services pay Gwei, which is 0.000000001 ETH. The withdrawal can be direct, to the specified Ethereum wallet address or to the FaucetPay micropayment collector. The second option is the most common, so before starting to work with faucets, you should register and link the ETH address to the faucethub.io website.
Consider a few examples of earning on Ethereum faucets. We will give instructions for working on them for the first one, since the actions on the others are similar. There are a lot of ads on the sites, but due to its display, it becomes possible to get some free cryptocurrency.
- Claimethfree. Fat tap, you can earn up to 3000 GWEI or 0.0000003 Ethereum every 5 minutes. Instant payments to FausetHub. You need to specify the address in the line and click the “Login” button below, and then “Continue”.
Then go through the captcha and antibot (by clicking on the words in the correct order).
Click “Verify”. A new page will open, on which you need to go through the captcha again and click “Click here to continue”.
A countdown timer should appear. When the time expires, the “Get Link” button will be highlighted. You need to be careful, there are a lot of advertisements and left links, on which there is a transition from time to time.
If everything is done correctly, a notification will appear about the successful transfer of the cryptocurrency to the Faucethub account.
✅ Vivocoin faucet. Allows you to receive free cryptocurrency every 5 minutes. The amount depends on the course and is equivalent to $ 0.001. At the time of writing the review, the site was paying 896 Gwei or 0.000000896 ETH. Output automatically to the address that is linked to the Faucethub account (link above).
✅ Allcoins is a multicrane for receiving Bitcoin, Ethereum, Litecoin, Dogecoin and other cryptocurrencies. You can request coins every 300 seconds or 5 minutes. It issues 0.00000157 ETH at a time. When withdrawing to a wallet, the minimum amount is 0.0036 ETH; via Faucethub – 0.00000002 ETH.
✅ Faucetcrypto faucet. There are 28 cryptocurrencies available, including Ethereum. To view the full list, select Cryptocurrency – List. You can earn every 10 minutes, the amount of 319-502 Gweis (0.000000319-0.000000502 ETH).
How to make Ethereum mining
In 2018, it is almost impossible to make money on Ethereum mining and gain profit. The reasons for the low rate of the cryptocurrency. On November 26, it is at the $ 100 mark. But the situation can change at any time, so you should find out how the process of mining a coin takes place. Ethereum can be mined on conventional graphics cards (GPUs), so it won’t be difficult to figure it out.
Every 15 seconds, a new block appears on the Ethereum network, which includes the last transactions of users. The miner’s reward for finding it is 3 ETH. When mining Ethereum, the hashing algorithm is Ethash. For mathematical calculations to find new blocks, you need a good video card with a minimum memory capacity of 1 GB. We recommend using 2–4 GB or more. The resulting hash rate will be higher, as well as the earnings. Research carried out by Ethereum developers has shown that more powerful video cards on the AMD processor.
The first step towards mining is downloading, installing and configuring software (Ethminer, Claymores dual, Geth, Parity, etc.). Only after completing this step will it be possible to interact with the network from the console and synchronize with the blockchain. For mining to be efficient, you need to choose a pool (NiceHash, ETHpool, etc.).
To really make money on cryptocurrency, people are creating their own farms. They consist of several modern and powerful video cards that fit easily in the home and do not cause discomfort since they do not require a lot of space.
There are also cloud mining sites on the Internet. The advantages of this method include the fact that you do not need to purchase expensive equipment to earn money, because the percentage of income will directly depend only on the capacities purchased on existing servers.
More information on starting mining can be found on the official website ethereum.org.
Earning money by investing in Ethereum
Investing in Ethereum to make money is worth a period of several years, until the next pump. Today the exchange rate is $ 100, many consider this to be a bottom and a place for a successful purchase. We believe that part of the fiat deposit can be transferred to the air now, another part – in case of a fall to $ 80, the third – up to $ 50. Whether the Ethereum rate will reach such levels is unknown, but you need to be ready to buy back. You always need to assess the risks, you can both earn and lose.
To buy and invest in ethereum (hodl), you can use the following methods:
When buying in an exchanger or transferring coins from an exchange, you must indicate your Ethereum address to receive. Address starts with 0x, length 40-44 characters:
There are many ways to get it using cryptocurrency wallets of various types: desktop, online, hardware, paper. Popular is MyEtherWallet, whose interface allows you to work with ERC20 tokens.
Make money trading Ethereum cryptocurrency
On spot cryptocurrency exchanges, you first need to buy Ethereum and only then sell. To make money, you need to sell at a price higher than you bought. This was relevant in a growing market in 2017, but not in a falling one.
To be able to immediately open deals in the desired direction, you should use margin exchanges. They can be used to short cryptocurrency (sell) and open long trades (buy). Leverage allows you to increase the volume of the transaction several times.
For example, BitMEX does not require verification, unlike other sites. You can replenish the deposit only with bitcoin. Withdrawals are carried out once a day. Ethereum leverage ranges from 0 to 50.
You can make money on Ethereum in 2022 on faucets or by trading. Consideration of a long-term investment option is possible. Mining is a losing business. Collecting cryptocurrency on faucets is a tedious task, but this is the only way to get Ethereum without investment.
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