Ethereum surpasses and expands the possibilities within the crypto universe. It is much more than a monetary network, and its technology, based on blockchain and smart contracts, offers a unique climate of security in which it is also possible to make money. We tell you how!
As the world progresses, virtual reality draws a horizon in which digital currencies will gain much more notoriety. In that universe, Ethereum, after Bitcoin, occupies the second position among the 100 best cryptocurrencies.
According to the ranking published by CoinMarketCap, Ethereum’s market capitalization exceeds $190 billion.
If you are wondering how to make money with Ethereum, below we share with you 11 alternatives so that you can do it. Continue reading and discover all the details we present to you so that you can make the best decisions.
What is Ethereum?
Ethereum is much more than a monetary network; it is an open source blockchain platform, also decentralized.
It offers its users the possibility of connecting with each other, using smart, reliable and manipulation-proof contracts.
Unlike most known applications, Ethereum technology developments are shared among thousands of computers of different volunteers around the world. This means greater security against attacks and data protection.
The Ethereum network works with Ether (ETH), its native cryptocurrency. Although Ethereum is often compared to Bitcoin, the reality is that it is superior since it expands the technological possibilities offered by the Bitcoin platform.
Why does Ethereum have value?
Ethereum has value primarily because of its attributes. Decentralized work is giving rise to exciting and particular developments for everyday and practical uses, which also involve the exchange of cryptocurrencies.
The vast majority of applications available on the Internet are centralized developments, that is, they are controlled by a single party, which translates into a single vulnerable point and susceptible to attacks.
Decentralized developments, possible with the use of Ethereum technology, do not have a single point of entry but are shared. That is why it is very difficult to attack and pirate them.
They are not only more stable and secure, but also the personal information of users is much safer.
In addition, beyond the attributes of its technology and its possibilities, Ethereum enjoys strong institutional and financial support, thanks to the support of important companies that invest large capital in this technology.
Likewise, Ethereum is the technology behind decentralized finance (Defi) and the growing market of non-fungible tokens (NFTs), which are based on smart contracts. This is a novel way of crediting the ownership of an asset.
In summary, according to Ethereum’s own website, its pillars aim at:
→ A much fairer financial system.
→ A wide network of assets. Much more than digital money.
→ An open and transparent network.
→ New frontiers for app development.
If you are thinking of investing in Ethereum, we present the best options below. Investing in this network is something that is within the reach of anyone who has access to the Internet and has the necessary funds.
11 ways to make money with Ethereum
There are different ways to make money with Ethereum. We put at your disposal 11 ways so that you can get returns within this network.
- Mine Ether
- Ethereum Wallet
- Trade with Ethereum
- Hold Ether
- Performance Funds
- DeFi (decentralized finance)
- Ethereum Reshuffling
- Ethereum Faucets or taps
- Employment platforms
- Mint or buy NFTs
- NFT Games
Let’s see each one in detail.
Computer operators solve computer problems and add blocks to the chain. In turn, they are rewarded with Ether, the native cryptocurrency of Ethereum. This process is known as mining.
As a crypto investor, a person can have one or more wallets. Many work with Ethereum technology, so it is possible to add Ether to the virtual wallet.
Trade with Ethereum
Just as with stock purchase and sale operations, it is possible to invest in Ethereum, with a much lower entry barrier.
The next step is to closely follow Ethereum’s behavior: its highs and lows to generate income, for example, by selling when it is on the rise.
It is definitely not the most exciting method, but it is a low-risk formula that allows you to make money with Ethereum, keeping the amount of Ether purchased to make money when its value increases.
This is the classic formula of the crypto world: buy cryptos, hold them, and make money.
You can store Ether in some interest-generating platform, like Celsius, Nexo, and BlockFi.
DeFi (decentralized finance)
The development of DeFi has allowed the creation of various platforms with different objectives, which in turn offers options for different investor profiles interested in making extra money with their cryptos.
Replanting of Ethereum
The key to this option is staking: the action of placing one’s own Ether as collateral for the verification of a transaction. It can be done individually or together with other Ether owners.
As a validator, you become responsible for processing transactions, storing data, and also for adding new blocks through mining.
The consideration for this is a small percentage of what users pay to start any action on the blockchain.
They are called this way to the reward systems that allow users to earn Ether in exchange for the completion of different online tasks.
Faucets are funded by large companies that make money by selling advertising space within the pages where the tasks are performed.
There are some pages of remote work offer and search. Payments are made in Ether. Ethance is one of them: a great decentralized market for those who are looking for a job or need to hire someone.
Mint or buy NFTs
Thanks to blockchain technology, anyone can tokenize an image, video, or file. In addition to giving it identity, the blockchain makes it a commercializable digital asset.
Most NFTs are backed by Ethereum technology and its smart contracts, and are also usually traded with Ether. So the creation and sale of a token is another option to make money.
The same happens with the purchase of an NFT as an investment. In most cases, each new transaction on a token implies an increase in its value.
At the bottom of this list are the games from the play to earn universe. They are a new type of video game that allows people to earn money while playing.
There is a significant variety; CryptoKitties is one of them. It is a game developed by Axiom Zen, under the Ethereum technology, which allows people to buy a virtual kitten, raise it, sell it and make money with it.
Aside from its volatility, and regardless of the uncertainties about Ethereum’s future, it is undeniable that this technology has represented a revolution within the universe of cryptocurrencies.
At present, it offers multiple options to make money, and in each case there are greater or lesser risks. In this sense, it is essential to carefully evaluate each possibility to protect your investment.
The fundamental question is whether or not you believe in Ethereum’s vision. If the answer is affirmative, it is time to invest; otherwise, it is better to take a little more time to understand all the logic behind it, before taking the risk.