Inflation got you down? 5 ways to accumulate crypto with little to no cost

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Experienced crypto traders know that bull markets are for selling and bear markets are for accumulation, but the latter can be difficult amidst a backdrop of rising inflation that reduces the purchasing power of fiat currencies.

As the cryptocurrency market deepens into the cryptocurrency winter, prices in the gutter and developers focus on creating the next popular protocol or breakout token, some crypto fans are looking for new ways to increase their stacks in preparation for the next bull run. started.

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Here’s a look at the top five ways holders can increase the size of their crypto portfolio without breaking the bank so that the money they earn can go to combat rising cost of living.

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Staking is probably the most tested and proven way to increase the number of tokens held, as most proof-of-stake (PoS) networks offer a stable yield for locking coins.

In addition to helping with transaction verification and network security, placing tokens in a smart contract reduces the available circulating supply, which in turn can help increase the price of the underlying crypto asset.

One must be mindful of which token is at stake, however, as the crypto winter is known for the demise of most protocols that lack solid fundamentals or significant support.

Projects with an established track record, healthy trading volume and an active and growing community of users are some of the important things to consider when choosing a good PoS network. Some of the top options in the current market include Ethereum, Cosmos, Phantom, Solana, Avalanche, Polygon and Polkadot.

GameFi and Play-to-Earn

2021 saw the rise of GameFi and play-to-earn (P2E) protocols, which give gamers the ability to do what they’ve always loved – and earn a living in the process.

While token prices for the most popular games like Axi Infinity have fallen, which in turn affects the earning potential of players, the sector is one of the most active in the cryptocurrency ecosystem and is likely to flourish in the future.

Some games require upfront investment, which can be costly to many people who are looking for no-cost ways to earn crypto. But, protocols such as Yield Guild Games and Merit Circle offer these users the option to rent or borrow required assets in exchange for a small commission taken from any prizes earned.

crypto side gigs

The last decade saw the rise of the gig economy as ride-sharing apps and food delivery services exploded in popularity and workers abandoned the traditional 9-5 workday routine.

As remote working and nomadic lifestyles have risen to prominence, the decentralized nature of cryptocurrencies has opened the door to many opportunities to help people contribute to the ecosystem while earning crypto in the process.

Despite the start of the crypto winter, which has seen some of the biggest companies in the industry lay off large percentages of their employees, new jobs in the sector are posted daily as projects launch and established companies bridge from the legacy system.

From part-time gigs and contract jobs to bounty assignments and community outreach, there are a variety of side gig opportunities for hodlers to earn crypto while their day job pays the bills.

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airdrop hunting

Cryptocurrency airdrops have become a mainstay in the crypto community as they provide one of the best ways to maximize marketing efforts and bring new users to the community.

As flash-in-the-pan projects that have risen and fallen rapidly during the bull market begin to fold and fade in the rearview mirror, new projects representing the next generation of blockchain protocols are starting to launch and allow users to access their ecosystem. There is a need to draw in the system.

While the tokens for these projects usually start out with little or no value, individuals who have patience can sometimes be rewarded with a nice payday down the road once the market returns to bullish momentum. .

Another option is to trace airdrops for cryptocurrencies that have already taken place with the goal of finding people they qualify for but have not yet claimed. Some of the more recent examples include the Optimism (OP) and Evamos (EVMOS) airdrops, which came at the tail end of the bull market and were lost in the chaos of the past few months.

Once claimed, users have the option to sell these tokens for a stablecoin or other preferred crypto, or they can keep these tokens in the hope that they will be sold once the crypto spring rolls around. You will see good profit.

Spreading the crypto gospel (for referral bonus)

One of the oldest ways for crypto enthusiasts to earn some satoshis is to earn referral bonuses when they refer users to cryptocurrency exchanges or newly launched decentralized finance protocols that want to attract users and liquidity.

While the collapse of Terra and Three Arrows Capital has caused crypto to spread, requiring firms like Coinbase to tighten their belts and discontinue referral bonuses, there are still ample opportunities for campaigners to spread the word and earn bounties. .

It can also aid in the process of attracting no-coiners to the crypto community as those with additional motivation to search outside the available pool of traders in search of higher bonuses.

It is important to note that those interested in earning extra crypto through referrals should take due diligence on a forum before directing others there, as people are likely to look mercilessly at someone who scams them. Or refers to pulling the rug.

Want to learn more about trading and investing in the crypto markets?