Cryptocurrency and blockchain are not just new technologies for the sake of technologies. Virtual money appeared not so long ago, and this area is in constant development. Therefore, users can earn large sums in it. Consider the main ways to make money on the air.

 

The easiest option is mining. It will work until the network completely transitions from PoW consensus to PoS consensus. The downside is that for successful mining, you need to purchase expensive video cards and ASIC processors. The payback of such a purchase is at least a year. But due to triggering difficulty bombs, the profitability of mining is constantly falling.

Ethereum staking

 

The transition to protocol version 2.0 has already begun, the test part of the network operates on the Proof-of-Stake consensus. That is, users can receive passive income with the help of staking – storing a coin in a wallet.

You can do this in two ways:

  • On one’s own. A blockchain participant becomes a validator and blocks 32 ETH or more on the wallet (the amount of income depends on the amount). Please note that the placed coins will be blocked until the merger of 1 and 2 versions of the blockchain. This will take one to two years.
  • In the pool It is possible to drain ether if the user does not have 32 coins to block. In this case, you must use one of the services that provides such a service. The list of platforms can be found on the Internet. For example, Dragostake.
  • On the exchange. This method is similar to deposits in a bank, but with a higher yield. The user places his coins on the platform and receives the agreed reward. Money is blocked for a certain period.

Other ways to make money on Ethereum

In addition to mining and staking, there are several ways to earn income with Ethereum:

  • Investment. During the existence of the coin, its rate has grown by 700 thousand percent. Therefore, when buying ether, you can count on an increase in its value and the possibility of selling it in the future at a high price.
  • Financial services. A decentralized financial market operates on the ether blockchain, where you can store a coin and receive interest, as well as issue loans for a fee.
  • Getting other coins. For example, on the SushiSwap platform, you can provide ethers for mining the Sushi token. Profitability is up to 15% per year, but you will also need USDT stablecoin.
  • Trading. Getting income on fluctuations in the exchange rate of the ether in the short-term range. This method allows you to get high profits, but there is a big risk of losing the invested funds.

As you can see, the ways to make money on Ethereum are diverse, they have different degrees of risk and profitability. The user has a choice.