Many people associate Ethereum with Bitcoin, and some use the words Ethereum, bitcoin, and blockchain interchangeably. Vitalik Butyrin is a Russian Canadian programmer and cryptocurrency researcher who came up with the idea for Ethereum in 2013, which finally went live in 2015. The plainest and simple explanation of Ethereum can be broken down into two components — software and platform.
Now, what makes Ethereum different from other software platforms is that it is blockchain-based. Blockchain means a record of data stored on networks of computers, there are 3 pillars of the blockchain that make it unique — decentralization, transparency and immutability. Cryptopneurs join this network for business and personal interests.
Besides personal and business use, other reasons to not only earn free Ethereum but also learn how to trade ETH actively include the following:
- You can commit to smart contracts, which are highly safe and auditable
- Short selling advantages allow you to sell even during a low market period
- Leverage margin in trading Ethereum is high, as a result, you also enjoy high profits from trades.
- Just like Bitcoin, Ethereum has tremendous potential. Perhaps with all the scalabilities, eventually, everybody will see how feasible the Ethereum network is becoming. For example, just 3 years ago the worth was 160 in dollars and now we are almost at 190+
The Crypto space is such that people can determine whether or not to invest in coins, and would also be able to make any money out of it. If you’re searching for easy yet legal methods of earning free Ethereum, that wouldn’t involve sticking your neck out at great danger, then here are our top picks.
1. Ethereum Faucets
An Ethereum faucet is a website or app, where you can register a wallet address, solve a captcha and get rewarded for that. Free-Ethereum io is an example of a program where you can earn reasonably in a matter of hours.
These websites use the opportunity to boost their traffic and make more money. Ethereum faucets usually attract high traction, allowing them to advertise for bigger companies. It’s also a medium to get word out on such companies, and even Ethereum in general.
In short, they also get rewarded for the tasks that you do for them. Here are some other examples of popular Ethereum faucets (apart from free-Ethereum io):
Although it doesn’t necessarily make you enough to make a good profit, Ethereum faucets are a fair way to know how trading works without the risk.
How Do Ethereum Faucets Work?
First, note that these websites are full of ads — scrolling, banner ads, and every possible type. Basically, you earn to view the promotions and in turn, they’re hoping that you will like one, click and buy it. Good thing, you don’t have to.
When you complete the task and earn free Ethereum, they immediately go to your micro wallet. An Ethereum micro wallet allows you to collect small amounts of coins before transferring to your main wallet.
Micro wallets are automatically created when someone registers an account with the Ethereum Platform. They also have a threshold of coins they can hold, and when the limit is reached, ether will be paid out to the user’s main wallet.
However, if you decide to link your macro wallet directly to the faucet, it would eventually cancel out ether earned from the faucet.
One ad view is paid about 0000012 ETH.
1. Faucets have bots that simplify the process of earning
2. Since there’s a threshold of limits, you can retrieve your coins at any point
3. retrieve your coins at any pointSites provide micro wallets for securing free ether.
1. Long periods of testing
2. The amount of earned coins is insignificant
3. The gains are more to the faucets than the players
If you’re also interested in bitcoin faucets, and especially in how to select, check out this article on 8 Best Bitcoin Faucets in 2020: How to.
2. Ethereum Mining
Ethereum is the most important and profitable coin when it comes to mining. Mining Ethereum came by when the blockchain was launched in 2016. Today, crypto mining has seen a major resurgence, and a lot of that is thanks to Ethereum. So, with the help of a PC, a wallet and software, you can mine free Ethereum.
Mining is a process carried out by miners (blockchain participants), which involves fact-checking transactions done within the network. The first miner to successfully complete the check of a new block earns free coins.
The only thing is that mining calculations are complex and enormous, so it has to be done using a computer. The machine solves these numbers in the form of hashes.
3. Ethereum Airdrops
An airdrop is a blockchain project created to give out free tokens — literally. But why do blockchain projects give away free cryptocurrencies? It appears it is to create a community of fidelity by rewarding the loyalty of the users.
How Do Airdrops Work?
There are two types; the first is when users hold the cryptocurrency at one point in time. They take a snapshot of the whole blockchain (ledger) to know who’s holding and give away a relative amount of crypto compared to what they hold.
The second type of airdrops is used to replace ICOs. In 2017, Google and Facebook banned cryptocurrency ads, especially Initial Coin Offerings (ICOs). One year after, the ban was lifted for only the U.S and Japan countries. ICOs were used to launch crypto projects through ads. But because the ads have been banned from these social sites, people are paid money to spread the word.
That means you don’t have to hold any cryptocurrency to get some tokens. You just have to achieve the steps that airdrops require. For instance, follow them on Twitter.
Where can you find airdrops? On the Remitano Airdrop Program. You may also use airdrop.io to see all the past, current and future blockchain projects.