A bearish trend in the cryptocurrency marketplace, is a signal to accumulate coins/tokens. The presence of a bullish trend is a signal to sell them. However, accumulation is not an easy task, amidst increasing inflation. Fiat currencies lose their purchasing power, then.
Currently, there is a crypto winter in evidence. The prices of digital currencies continue to drop. Regardless, crypto enthusiasts continue to explore at bitcoin billionaire website, a platform for investing.
Amid all this chaos, investors may explore five best and cheapest ways to accumulate cryptocurrencies.
GameFi and P2E
These protocols came into being in 2021. P2E refers to play-to-earn. Gamers welcomed them with enthusiasm. They could engage in a favorite exercise. They could also earn something while doing so.
True, token prices have taken a deep plunge. Therefore, well-known games, and players’ earning abilities have suffered. Nonetheless, the gaming sector of the digital currency ecosystem is still highly active.
Many investors are seeking no-cost strategies to earn digital currencies. Therefore, they may not be too keen on the idea of agreeing to upfront investments. However, some games demand them.
Fortunately, there is an alternative. It is possible for gamers/players to borrow or rent protocols. In return, users must agree to pay a small commission. This commission is deducted from the rewards earned during play.
Staking
An array of PoS (proof-of-stake) networks provide an ongoing yield. This enables coins to be locked up. Therefore, staking should come into play, here.
Then again, staking proves useful for validating transactions. It also proves useful for securing a network. When involved with a smart contract, the utilized tokens lessen the supply in circulation. As a result, the price of the concerned crypto asset, receives a boost.
At the same time, investors should be cautious about the token they wish to stake. They must remember that crypto crashes are leading to the closure of many protocols. These protocols have no significant backing, or solid fundamentals in place.
Crypto enthusiasts should go for PoS projects displaying a well-built record of accomplishments. These projects should also display excellent trading volumes. Finally, they should have the backing of an established and active community of users.
Airdrop Hunting
Airdrops are excellent as a marketing strategy. They attract new users into the crypto community.
Whenever there is a bull run, crypto projects appear quickly, and disappear as quickly! They fade into the background, permitting new projects to take their place. These new projects are representatives of the newer generation of blockchain protocols. If they must survive, they must lure new investors to their respective ecosystems.
These projects involve tokens that have precious little value. Sometimes, they have no value at all. However, not all investors lose heart! Some wait patiently for a bullish momentum to restart. As a result, they receive handsome rewards!
Investors may also examine airdrops that have already occurred. They may find some, for which they had qualified. If still unclaimed, they could claim them later. Some examples of airdrops, are EVMOS, Optimism/OP, etc.
Soon after receiving the tokens via airdrops, the receivers may exchange them for altcoins, Bitcoin, or Stablecoins. Alternatively, they may cling on to the tokens. With the arrival of a crypto spring, tokens sell for nice prices.
Crypto Side Gigs
The gig economy is witnessing rising popularity. Several apps offer various services. They include, food delivery, ride sharing, etc. This works, because people have taken to remote working and nomadic lifestyles, quite eagerly.
Digital currencies operate on decentralized platforms. Therefore, people are gaining several opportunities to explore the crypto arena and benefit by it.
The crypto winter has led to large-scale downsizing. However, new projects are launched daily. Similarly, well-known companies strive to tide over the legacy system. Thus, an array of side gigs is available for earning. They include, contract jobs, part-time opportunities, community outreach, bounty assignments, etc.
Referral Bonuses
Crypto enthusiasts may refer people to digital currency exchanges. They may introduce them to newly-launched protocols, especially DeFi ones. Decentralized protocols are keen to lure liquidity and users.
Users may strive to attract no-coiners to join the crypto community. This will help them earn extra profits. The gains come in the form of cryptocurrencies. However, they must ensure that no one links up with an unreliable platform.
This post was published on August 16, 2022 6:26 pm