Five ways to make money on cryptocurrency from home   


We’ve put together the top 5 popular options for making a profit from digital money in the comfort of your home. We’ll tell you how to make money from cryptocurrency in 2022.

Earnings from cryptocurrency mining

One of the most common and reliable ways to make money from cryptocurrency is mining. In English, mining means mining. How does it work?

Miners on special farms, where mining capacities consisting of one to tens of thousands of processors and video cards are installed, calculate special blocks, which give the right to receive a certain number of virtual coins. At the same time, miners have the right to choose the coin to be mined. If bitcoin is chosen, the mining premium is paid in bitcoins, and if, for example, etherium is chosen, then ethers are paid.

The very first miners who mined bitcoin, the main currency of the crypto-world, received the most generous rewards. But bitcoin’s algorithm, embedded in its software code, suggests that every year its mining will become more difficult. Moreover, the number of coins is limited: the last bitcoin must be mined in 2140. Now the network is controlled by huge mining pools, which buy ASIC miners (special hardware that replaces video cards) to mine the coin.

Single miners, who raised the bitcoin mining industry, can’t stand the competition and go to niche projects related to other digital currencies. You can make money on them, too.

Let’s take a closer look at all bitcoin mining schemes.

The most popular and quite profitable scheme for obtaining cryptocurrency – mining on video cards.

What are good video cards for those who decided to earn on cryptocurrency? They have quite a long service life (even older versions can handle cryptocurrency mining), their algorithms are easy to reconfigure, there is a three-year warranty from the manufacturer. This is relevant because modern versions of video cards work on new generations of GPUs without re-flashing.

You can’t make a lot of money on one video card, so they mostly work with farms. This is a construction consisting of several video cards at once. The number of farms is limited by the investor’s capital and the size of the room. The main costs are rent and payment of electricity bills. Also, the equipment for miners creates a lot of noise. True, this problem is least of all related to video cards. Even a farm with 5-7 video cards is much inferior to an advanced ASIC miner in terms of decibels.

ASIC (ASIC) is a reliable, relatively compact device for mining cryptocurrency based on certain algorithms. The problem with working with ASIC is that it is a highly specialized device. If a miner wants to mine several coins at once, he will have to buy a gadget for each of them. It is impossible to reprogram an ASIC that works with bitcoin, for example, to work with other currencies. As for economic efficiency, ASIC consumes about 3 kW of electricity and brings its owner $350 of net profit a month.

From the disadvantages of working with the device we will highlight a very high noise level. It is definitely not suitable for an apartment. As an option – a separate room or a mining hotel.

From low-cost and low-profit schemes you can add mining in the browser. It requires JavaScript to be installed. Unfortunately, in this scheme the disadvantages prevail over the advantages. The main problem is the high risk of becoming a victim of a virus attack, which will turn your computer into a mining node for another user.

It is easier and quieter to train in mining coins on a hard drive. You need special software and a large volume of hard drive from 3 terabytes.

Minuses – a limited number of coins to mine and low profitability.

Cloud option

It is also possible to engage in mining on cloud servers. All you need to do is rent a certain amount of computing power in a remote data center. Some services also offer ASICs for leasing and redemption at the end of the lease agreement.

The advantages of cloud mining are obvious. There is no noise in the apartment, saving on equipment and time. You have to keep an eye on the farms 24 hours a day.

Unfortunately, a huge disadvantage of this method of cryptocurrency mining is high risks. There are too many scammers in the cloud service, which undermine the reputation of the whole market and negate the benefits of a rather nice scheme.

How to earn on cryptocurrency trading

The second way to make money on cryptocurrencies at home is to trade on the exchange and work with gaming platforms and partners.

Trading is constant and painstaking work on the stock exchange: reviewing analytics, monitoring the market, working on a diversified investment portfolio. And, of course, investing for a long or short term – it all depends on your capital and tolerance for risk.

You can get your profits after registering on the sites of affiliate and referral programs. The participants of these programs are remunerated for expanding the client base of cryptocurrency exchanges, exchangers, etc. The premium for a client is 30-40% of commission from transaction or exchange.

Let’s say a customer bought bitcoins using your link and paid 1.5 percent commission. From that one and a half percent you get a third as a bonus.

Money for storage

The third way is staking, an alternative model of coin mining that has a special algorithm built into it. It is officially called PoS (Proof of Stake). New blocks in this model are created based on the age of the coins (time of use for staking) and a random selection algorithm. Users of steaking networks are called foragers or in Russian – “smiths”.A participant of a steaking program needs only to get a wallet, refill it with coins, and keep his computer plugged into the network. A wallet in a steaking program becomes one of the nodes in the chain, supporting the network and checking transactions. This is rewarded as a percentage of the amount deposited. The larger the amount, the higher the premium. The final profit depends on how long the money is in the wallet.

A recent addition to steaking is the masternoodle.

Masternodes are the main nodes of the network, with special powers. Masternode owners receive a reward when a new node is created. Masternodes are launched using a stacking scheme. Coins are purchased and withdrawn to a hot or cold wallet. Then, special software is downloaded and installed, which ensures the operation of the master node on the owner’s computer or on a remote server. By and large, running a masterknot is an investment in one of the coins. The problem is that this coin can both rise in value and fall.

Earnings on cryptocurrency in 2022 from scratch

You can make money on cryptocurrency from scratch by taking part in programs: Airdrop and Bounty. These two terms are quite often confused, although they are completely different, but this is due to the specifics of the cryptocurrency market.

Airdrop gives away digital tokens for free. To get them, you have to complete a fairly simple task and write a post about it on popular social networks.

To earn on cryptocurrency in any airdrop you need: email, accounts in social networks (Facebook, Instagram, Twitter, Telegram), and in each of these accounts must be at least 100 followers. The age of the page is at least 3 months, and the topic is cryptocurrencies and finance. Many airdrop organizers check participants’ pages for bots and tweaking. One more obligatory moment – accounts on profile forums on cryptocurrency and a cryptocurrency wallet to receive appropriate remuneration.

Bounty translates to “reward,” “gift,” and “encouragement.” This award is allocated by various ICO companies in order to promote their product on social networks.

In a Bounty campaign, you have to translate an article or work on a website design. You can’t get by with mere skills, and such campaigns can be handled by qualified specialists. But the fee for participation in the promotion of a particular digital coin in Bounty is much higher than in Airdrop. But the payouts are also stretched out in time.

After distributing tokens in Bounty and Airdrop-campaigns, the question often arises as to what to do with these coins to get a normal profit.

There are several options for working with the digital currency obtained. For example, you can keep the coins and not leave the project, hoping that the startup will take off.

If there is no confidence in the project or you want to lock in a profit, you have to wait for the release of the coin on the exchanges and sell it at the peak price.

Or you can simply accumulate tokens from different projects and exchange them for more weighty cryptocurrencies.

How most often earn on cryptocurrency

No cryptocurrency earning topic is without investments in ICOs, DAOs, STOs. In recent years, private investors have tried all of these formats. What are we talking about? About startups that gave away project coins in exchange for investment and were confident that they would shoot up and become as popular as the top 5 coins of the digital world. If we talk about ICOs, there were many more stories of failures and outright fraud than there were simple and straightforward success stories.

It is much more interesting and safe to invest with the help of Initial Exchange Offering (IEO), which translates as an initial public offering. This crowdfunding method is distinguished by the strictness of the startup’s connection to a certain exchange. The exchange administration scrutinizes the project before listing it and concludes a pre-contract with the startup’s developers. In this pre-contract all the main provisions are regulated.

As a result, potential investors who want to make money on cryptocurrency know in advance: the price of the digital token, the maximum issue volume and the details of the distribution of capital among the startup participants.