Bitcoin. Bitcoin Cash. Ethereum. Litecoin. Ripple XRP.
If you’ve been reading the news or been around since 2016, chances are you’ve likely heard about cryptocurrencies.
Cryptos are basically digital assets that do not have a tangible physical presence. Instead, they exist purely in the digital realm and are stored on digital wallets. Click here to know more about crypto wallets.
Given how cryptos have exploded in popularity, even the most casual of investors have been trying to get their hands on Bitcoin as can be seen in recent Google search trends.
Besides being a viable investment, crypto assets have made it possible for people to transfer funds to one another seamlessly from anywhere around the world.
With globalization on the rise and increased levels of internet penetration, it’s easy to see why Bitcoin and other cryptocurrencies are a favorite medium of exchange.
Fast transaction speeds and widespread acceptance are just some of the reasons why cryptos have exploded in popularity. Add on the potential for high-rates of return and one should have no trouble seeing why even freelancers are getting on the crypto bandwagon.
In this article, we’ll take a look at how just about anyone can get their hands on some of that sweet, sweet cryptocurrency.
The easiest and most direct way of acquiring cryptocurrencies is by simply buying it from a cryptocurrency exchange.
Crypto exchanges are platforms that allow you to trade cryptocurrencies with assets like fiat currencies. Fortunately, there are dozens of reputable crypto exchanges on the internet that let you buy cryptos.
From Bitcoin to Litecoin and other niche cryptocurrencies, it is extremely easy to obtain any type of digital asset that you want. Oftentimes, these platforms will charge you a service fee each time you perform a transaction.
Some sites also have less attractive rates which is why you should always shop around before committing to an exchange. While reliable, crypto exchanges have always been a favourite target of hackers and thieves – thus always be careful when divulging your personal details on such sites.
Here’s a fun fact that you were likely unaware of online gaming sites were amongst the first platforms to use cryptocurrency as a medium of exchange.
The ease in which funds can be transferred along with the widespread availability of digital wallets have all contributed to the popularity of cryptocurrencies on such sites. As an added plus, there are plenty of online gambling sites that offer cryptocurrency payouts.
Thus, if you’ve got a skill for gaming and have been looking to get your hands on some cryptocurrencies, then online gambling may just be what you’ve been looking for.
If you’ve got capital and access to affordable electricity, then maybe you can try your hand at crypto mining. Instead of a pickaxe, you’ll need a mining rig (or several) to get your operation started.
For simplicity’s sake, we’ll refer to Bitcoin as the cryptocurrency that is being mined for the remainder of this article.
Crypto mining calls for the use of high-powered hardware to process transactions on the blockchain. Once successfully validated, miners are rewarded with a single Bitcoin. Given the length of the blockchain, mining is a time-consuming process that requires massive amounts of energy.
Nowadays, mining operations are focused primarily in China where electricity and land are both plentiful and cheap making it difficult for smaller operations to compete with them.
Rising globalization and increased acceptance of remote working have contributed to the rise of the freelance economy. Thanks to sites such as Upwork and Fiverr, businesses have been able to gain access to talent from around the world.
Hence if you have marketable skill of any kind, you can always try your hand at freelancing and work with customers who are willing to pay for your services in cryptocurrency.
From low transaction fees to near instantaneous transfers, there are plenty of reasons why you should accept payments in cryptocurrency. However, do take note of your country’s tax regulations with regards to income earned in the form of crypto.
The future of cryptocurrencies is an exciting one and there is no reason why you should not be a part of this revolution. Earning cryptocurrencies is the easiest and most reliable way to get a headstart.