With the boom in cryptocurrency, more people than ever before have begun wondering how to earn Ethereum. While some people are just content to earn Ethereum in any way they can, others want to earn Ethereum daily or earn interest on the cryptocurrency. There are multiple ways to achieve these goals, some of which are better than the others.
How to Earn Ethereum
If you just want to earn Ethereum and do not care about the quantity or the amount of effort you have to put in, there are numerous options.
Work for Ethereum
You can go the traditional route to earn Ethereum daily and find a job that pays you Ethereum instead of fiat. There are also numerous websites that have micro-tasks that will pay you small amounts of Ethereum for playing games or completing surveys. Just be aware that it can take a long time for your profits to add up if you use these websites. Other methods of earning Ethereum via work include bounties or signing up as an affiliate or for a referral program.
In the past, you could mine Ethereum for a profit, but that is not likely to happen today. You would need to have specialized equipment and, even then, you may pay more in electricity than you earn in Ethereum. Even so, it deserves a spot on this list, albeit it is just to tell you why to choose another method of earning Ethereum.
Use a Faucet
Ethereum faucets give you a tiny quantity of Ethereum. While this is not much at a time, it can add up. You can simply participate in a faucet to start earning or accelerate the earnings by setting up a faucet, the latter of which will require an initial investment. Just remember that it will be a long time before you see measurable income.
While there are not normally any Ethereum airdrops, it is common for new ERC-20 tokens to have airdrops. You can store those coins with your Ethereum and eventually convert them to Ethereum.
If you have some investment skills, you may want to consider trying to earn Ethereum daily via trading. This involves trading Ethereum with other cryptocurrencies. You will buy Ethereum if you think the price will increase and sell it if you think the price will drop. The market is very volatile, which means there is good potential for profits, but there is also a very high risk of losing your crypto.
If you have enough Ethereum and know someone who wants to borrow it, you could earn interest on Ethereum by lending it. There are also various websites that connect borrowers and lenders. However, there is always a risk with this, especially since all crypto transactions are final.
Open an Ethereum Savings Account
Perhaps the simplest and most effective method of earning Ethereum is to open an Ethereum savings account that gives you interest. The interest rates will vary, as will how frequently they compound, but the best ones let you earn Ethereum daily.
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How to Earn From Ethereum Daily As Passive Income
Out of the above choices, the two best options that let you earn interest on Ethereum as passive income are to lend it and open a savings account. Technically, mining and affiliate programs will also earn passive income, but the former does not typically give you a significant profit, and the latter provides no guaranteed income.
The absolute best way to earn Ethereum daily and do so passively is via a cryptocurrency savings account. You do not have to worry about screening borrowers as you would with lending, and you get guaranteed income.
How to Earn Compound Interest on Ethereum
To earn daily compound interest on Ethereum, your best choice will be opening a crypto savings account. There are multiple options available but pay attention to the terms because not all of them offer daily compounding interest. Some have monthly compounding interest or even annually compounding interest, either of which would reduce your earnings.
How to Choose an Account for Ethereum Daily Compounding Interest
Now that you know that having a savings account is the best way to earn interest on Ethereum daily, how do you choose the account to open? There are several factors to think about, but the following are the most important:
See if your chosen company has a lock-up period for your Ethereum. With a lock-up period, you cannot withdraw your Ethereum until that time has passed, making it impossible to use it if you change your mind or need it for something else.
You also want to pay attention to the interest rate, as this is what will let you earn your Ethereum. Look at not only the rate itself but also how often it compounds. Ideally, you want to choose an account with daily-compounding interest as it will grow your profits more quickly.
Since your Ethereum will be held by the company your account is at, you want to make sure you can trust the company. Confirm they have strong security measures in place and a solid reputation.
Why Choose Haru
Of the various options, you will notice that Haru checks off all the requirements for an Ethereum savings account.
No Lock-up Required – Or You Choose It
One of the great things about Haru is that with a Haru Earn account, there is no lock-up period. This means that you can withdraw your Ethereum at any time without any penalties.
More info: Crypto Investment Firm
If you know you will not need the Ethereum soon, you can opt-in for a lock-up period with a Haru Earn Plus account and increase your interest rate.
No matter if you opt for a lock-up period, Haru lets you earn daily-compounding interest on your Ethereum. Compared to weekly, monthly, or annually compounding interest, this increases your profits more quickly.
Strong Track Record
Haru’s strong track record gives you confidence in the platform’s ability to keep your Ethereum safe and to grow it. The team has been managing crypto funds for years, including with Block Crafters Capital. Additionally, all of the digital asset management firms Haru works with are industry leaders and meet strict requirements.