Profit from cryptocurrencies without buying

Buying and selling is the main trade of most crypto investors but there’s a way to earn digital assets without having to buy them. Such strategies have always been part of what makes the blockchain industry so welcoming. You can still find those methods today if you know what to look for. 

A crypto investment doesn’t have to be about buying the asset then selling it later. You can simply receive it without having to pay for it directly. Instead, you will be investing time, effort, and albeit a smaller amount of money to get some of these valuable digital assets. 

Pushing the definition of ‘crypto investment’ 

Making a profit from cryptocurrencies cannot be done entirely without some sort of resource. That includes tools, connections, and even funds. This guide will only show ways to earn digital assets without directly getting them from an exchange. After all, crypto investment still refers to the act of making a sacrifice for the chance of profiting from speculation. 

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Different ways to earn crypto without buying

Some of the examples you’ll see on the list below are old but they are still viable today. How much profit you can get from them depends on the type of crypto you are aiming to earn. 

Crypto mining

This is the traditional way of getting crypto like Bitcoin (Bitcoin). It’s only possible for proof-of-work (PoW) networks and most new blockchains are built with a proof-of-stake (PoS) consensus protocol. There are still many cryptocurrencies you can earn through mining like Dogecoin (DOGE) and Litecoin (LTC).

Mining involves buying pieces of hardware and setting them up into a mining rig and having it connect to the intended blockchain 24/7. It will take a while before it successfully mines an asset for you so you’d have to financially cover the electricity bills for a while. Once it can consistently get crypto, you’d continuously earn enough profit to cover all costs. 

Indirect crypto investing

To put it simply, indirect investing is giving someone else your money so they can buy and sell crypto on your behalf. This method typically involves an agreement between you and the investor to give you back your money with an agreed interest rate. Such an arrangement is found on many platforms including mutual funds and trust funds that financial institutions like banks can organise.

If you use the services of a reputable institution like a bank then it is the safest way to invest in cryptocurrency. The only major downside is the long agreement period and low rates. Trusting a startup company, on the other hand, is risky because it can be a scam but the return rate is higher and the terms have more leeway for cashing out early. 

Crypto Exchange-Traded Funds (ETFs) 

ETF is the best way to invest in crypto for traders who want quick gains. It’s typically sold at a brokerage where you can stake funds into a specific portfolio created either by the platform or a successful trader. An ETF is a collection of different assets for investments, in this case, crypto, where its value is represented by the overall market value of its contents. 

Thus, you are not directly investing in one crypto but many, covering each other’s losses and ensuring the highest chance for profit. Returns can come in two ways, as profits from when you cash out of the ETF or as dividends. 

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Crypto payment for goods and services

One underrated crypto investment strategy is simply working for it. You can find part-time or odd jobs online to people offering crypto as compensation. This is a great avenue for people with specialised skills looking for an extra income. The only downside to this strategy is both finding an employer and having a skill to offer in the first place. Artists can easily find a commissioner in the non-fungible token (NFT) industry but it’s not the same for handymen. 

Crypto giveaways and airdrops

The best strategy on how to earn crypto without buying it is being in the right place and at the right time. Blockchain whales promote their new ventures by giving away free altcoins or tokens. Some online casinos like Gamdom giveaway valuable assets like Tether (USDT) and BTC on special occasions. You just have to wait for an announcement and grab the opportunity when it’s present. 

Earn crypto without buying 

These are only some of the ways you can earn crypto without buying, or at least directly purchasing at an exchange. The crypto industry is ripe with many more opportunities like these. You just need to know which assets you are likely to find and how profitable they will be in the future. Try to aim for layer 2 assets like ERC 20 tokens on Ethereum because they have a high interoperability with smart contract blockchain, ensuring their liquidity. 

FAQs

Learning how to invest in crypto without direct buying is a simple concept but a complex business venture. While it is an industry that is rich in opportunities, there are plenty of mistakes a beginner investor can make without the proper knowledge. Always ask questions like these most frequently asked ones in the crypto industry:

What is a crypto investment?

A crypto investment is defined as staking in a crypto-related business or creating opportunities to earn digital assets. The most direct example is exchanging for it by paying a different asset, usually fiat or another crypto, it can also include indirect forms. Some examples include ETF staking, mutual fund investments, or funding a blockchain-based company. 

Is crypto a good investment?

Crypto is a great investment. This is especially true considering how many industries are moving towards blockchain-based systems. Most projects on these networks are still in the development stage, ensuring great profits to come in the future for investors now. 

How to know what crypto to invest in

There are many ways to determine which crypto will be profitable. The easiest is to check the most recent news on market trends and banks’ decision-making. Another way is to follow a successful crypto trader’s actions in a brokerage or exchange by copy trading.

How to start investing in crypto?

Investing in crypto can take many forms. The most direct way is to buy some assets and hold onto them until the market trends are favourable. Alternatively, you can start mining if the blockchain allows it but you can also invest in mutual funds or ETFs to let someone else make a profit from your funds on your behalf. 

However, if you want to try another way where you can have fun at the same time, you can try crypto gambling at sites like Gamdom. You can use crypto as your stake then earn more as you win from playing games or betting on sports. 

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Words: Clarence Clarke