How to get cryptocurrency
Cryptocurrency is a relatively new thing. It is still far from mass adoption, and a lot of people are confused when they get into the Crypto World. So many people have heard about cryptocurrencies, but have no idea how to get Bitcoin or earn crypto. If you have decided to become a Bitcoin owner or to find a way to get free crypto, this article will be very useful for you.
There are multiple ways to get cryptocurrency and we are going to tell you about them.
Crypto mining is considered to be one of the most profitable things in the Crypto World. Moreover, it is one of the most important parts of the Crypto World. Miners maintain the distribution of control over a network. Thus it is possible to keep network decentralized. Their job is to verify transactions and add them to the ledger. Transactions come together in blocks, and when one block is completed, it is going to the blockchain.
Undoubtedly, miners get a reward for their work. Usually, the reward is paid in crypto that they are mining. For example, if you are mining Bitcoin, you will get a reward in Bitcoins.
There are different types of mining, but they are all united by one thing which is a requirement to share computer power.
It is one of the most popular types of mining. Cloud mining does not involve miner’s computer power directly. For some amount of money, a person can “rent” a rig. Rig is a mining machine. Everything that is made (and earned) during the rent period goes to the user’s crypto wallet.
CPU rigs use processors to mine. This way of mining was very popular because it is very cheap and everyone who has a computer can participate in the process. Plus there is a number of algorithms that can be processed only this way. However, mining alone at a home computer is not as profitable as mining together with other miners.
ASIC is a special device which full name is Application-Specific Integrated Circuits. ASIC hardware is designed with the main purpose to mine a specific cryptocurrency, so it does the job faster and better than less powerful computers. In comparison with CPU and GPU (which we’ll describe below), ASIC is far more effective and can actually bring some profit.
There is another way to mine crypto, It is GPU. GPU rigs use graphics cards to mine crypto. This way to mine cryptocurrency is probably the most popular one. Although it is important to understand that CPU and GPU mining are not interchangeable, one is not a more developed or improved version of the other. Different encryption algorithms require different mining technologies. For example, it is way more profitable to use GPU for Ethereum mining.
If cryptocurrency mining seems attractive, it may be also interesting to know more about mining pools. The most popular crypto for mining is Bitcoin. Lately, mining became a whole new industry. Individual miners cannot confront mining companies, and mining becomes less profitable for individuals. However, there is a solution to this problem. Miners come together to form mining pools. It is an opportunity to unite computing power and get more profit.
Free crypto giveaway
In case sharing computer power or buying some equipment does not seem tempting, there is another way to get crypto for free. In order to drive the adoption of a particular coin, its platform holds a giveaway. This means that a certain amount of crypto is sent to a list of crypto wallets. To participate in this activity users need to create a crypto wallet and to follow news of different platforms that use crypto. The best way not to miss anything is to follow a number of crypto on social nets.
The Crypto community is interested in attaining more people. There are lots of programs that help users to get crypto without the necessity to get involved in mining. The Bounty program means that a platform shares a list of tasks that users can do to earn crypto. Tasks can vary depending on the platform’s needs. For example, it can be translation bounty, call to write a comment, or request for help with graphic design.
Bounty hunting is very popular now and there are even some websites and resources which help people to find this kind of freelance work. There is always a number of tasks that can be done for different cryptocurrencies.
Crypto faucets are another way to get crypto. These are websites or applications that reward users with crypto for small tasks. The more time a person spends on the website the more chances to catch attention and actually receive something he/she has. Usually rewards are very small, this is why these services are called ‘faucets’, something that pours tiny rewards. It is not a way to get big amounts of cryptocurrency fast. However, this is a way to get into the Crypto World.
There is always an easier way to get crypto. No need for equipment or time to complete tasks. People can simply go to an exchange service and buy crypto. To do so they need two things: an exchange account and a crypto wallet. Exchange account is needed to make transaction and wallet is required to store and use crypto after.
Another way of getting crypto is through a business partnership or so-called affiliate programs. An affiliate program is a type of marketing that helps to attract new customers. It is supposed that one business rewards another one for each customer that comes from it. Such partners usually get a revenue share.There are different kinds of affiliate programs. For example, let’s take a look at The SimpleSwap Affiliate Program. To become our partner a person should register an account and choose the most suitable affiliate tool, share a link or a widget, and get a profit.
Here are the ways to get cryptocurrency, and now you know how to get free Bitcoin. Anyone who wants to become involved into the Crypto World has an opportunity to find the best approach. There is only one step that is inevitable. It is to get a crypto wallet. Luckily, it takes only a couple of minutes. Here you can find our Cryptocurrency Wallets Guide.
There is the widespread idea that cryptocurrency is something very complicated, it’s really not that easy, but every person who has a laptop, strong desire, and a little bit of time can try to earn crypto.
Please, remember: this article is not financial advice. You are the only one who is in charge of your decisions on investments.
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Originally published at https://simpleswap.io on July 14, 2020.