I recently published an article on different ways to purchase Bitcoin and other Cryptocurrencies:
Like the previous article, this one is written with the newbies in mind as a lot of the more ‘seasoned veterans’ by now sure know all the many ways of purchasing crypto and are probably earning and acquiring it as we speak!
So, as we all know the easiest way to obtain some cryptocurrency is to purchase it with fiat. Either from an exchange, a P2P trading platform or direct trading. But sometimes we want to earn something without buying it. Besides, buying money is a weird concept, right? We earn our salary, we don’t buy it. How can we do the same with Bitcoin and other cryptocurrencies?
Speaking of salaries, let’s start with that. One could always ask for their salary to be paid in crypto! It sounds simple to do yet at the same time it sounds like something that can’t really work. Crypto isn’t as adopted in the public world as much as we would like it to be and having your entire salary in crypto can make things a wee bit difficult. But there a couple of ways we can get around that.
First, you don’t need to have your entire salary in crypto. You can instead have a portion of it in your cryptocurrency of choice and the rest in classic fiat. You would have classic fiat to use on the daily as you normally would and having a wee portion of it in a digital currency can certainly help you with your monthly crypto gains.
And second, having your entire salary in crypto isn’t as ‘restrictive’ as you think. If you really need to have it in fiat, it’s really quick and simple to convert the crypto over to fiat. You can sell/trade it to fellow friends and families that may be interested in obtaining some crypto, or you can sell it on an exchange or trading platform.
Getting your salary, or at least a portion of it in crypto is one way. But while we’re speaking of work, let’s continue with the topic. If you just wanted to acquire some crypto on the side, but rather not alter your salary or use your fiat to buy any, you could go about looking for freelance side-jobs that pay in crypto. Time for Crypto!
So, as you can probably guess the theme of this article by now. If you don’t want to buy crypto then some amount of time or work is going to have to be put in instead.
Bartering For It
Let’s talk about trading, in the traditional sense. Do you have something to sell? So, like having a service to provide, or a job that you can complete, you can sell things for crypto instead of fiat. I’ve personally been in situations where I don’t really need the extra cash but wouldn’t mind something else in exchange for the thing I’m trying to get rid of.
As you can see, there are many ways of obtaining crypto without using fiat to purchase it. But let’s talk about another way that sort of does requires fiat in order to start acquiring crypto with; that’s mining!
The topic of mining can be an article all by itself, but it is indeed a way to start acquiring crypto. However, it’s not exactly a complete ‘fiat free’ way of acquiring crypto as mining requires some mining hardware before you can begin. You used to be able to just fire up your laptop or personal computer back in the early days when the blocks were still easy enough for less powerful and dedicated machines to mine.
But now in 2018, that is unfortunately no longer the case as now the block difficulty has greatly increased and needs more powerful machines in order to be able to solve them, or at least for them to try and keep up with the former solving speeds. Sure, you can still enter into a mining pool with your personal computer, but it may not be worth it for everyone as it would depend entirely on how powerful your computer is since mining pools like to share the rewards of crypto mining proportionately to the work done by each individual in the pool.
As you can see, there are multiples ways of obtaining Bitcoin and other Crypto. There are even more ‘obscure’ ways out there, but the ones listed in this piece are probably the simplest ways of earning Crypto.
If you have been earning Crypto in other ways, please feel free to share with us!
And don’t forget to check out our previous article all about Crypto Drama; Embily – Crypto drama, benefit or detriment?
Cover illustration artist aydnahmet, DeviantArt