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

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



Seasoned crypto traders know that bull markets are for selling and bear markets are for accumulation, but the latter can be difficult against a backdrop of soaring inflation eroding the purchasing power of fiat currencies.

As the crypto market enters crypto winter, prices are depressed and developers focus on creating the next popular protocol or breakout token, some crypto enthusiasts have started exploring new ways to add to their stacks in preparation for the next bull run.

Here are the top five ways hodlers can increase the size of their crypto portfolios without breaking the bank, so that the money they make can be used against the rising cost of living.

pledge

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

Tokenmetrics

In addition to helping with transaction verification and network security, staking tokens in smart contracts reduces the available circulating supply, which in turn helps increase the price of the underlying cryptoasset.

However, attention should be paid to which tokens are staked, as crypto winter is known to lead to the demise of most protocols that lack solid foundations or significant support.

Projects with good track records, healthy transaction volumes, and active and growing user communities are some of the keys to consider when choosing a good PoS network. Some of the top options currently on the market include Ethereum, Cosmos, Fantom, Solana, Avalanche, Polygon, and Polkadot.

GameFi and games to make money

2021 will see the emergence of GameFi and Play-to-Earn (P2E) protocols that allow gamers to do the things they’ve always loved and earn a living in the process.

While token prices for the most popular games like Axie Infinity (AXS) have plummeted, hurting player profitability, the industry remains one of the most active in the cryptocurrency ecosystem and will likely continue to thrive. future.

Some games do require upfront investment, which can cost many people who are looking for free ways to earn cryptocurrency. However, protocols such as Yield Guild Games and Merit Circle offer these users the option to rent or borrow the assets they want in exchange for a small commission from any rewards earned.

Encrypted side show

The past decade has seen the rise of the gig economy, as workers eschew the traditional nine-to-five workdays as ride-sharing apps and food-delivery services explode in popularity.

With remote work and nomadic lifestyles increasingly prominent, the decentralized nature of cryptocurrencies has opened doors for people to have the opportunity to contribute to the ecosystem while earning cryptocurrency in the process.

While the arrival of the crypto winter has resulted in some of the biggest companies in the industry laying off most of their employees, the industry posts new jobs every day as projects kick off and established companies transition from legacy systems.

From part-time gigs and contract work to bounty assignments and community outreach, hodlers have a variety of part-time opportunities to earn cryptocurrency while paying the bills at their day jobs.

Related: Don’t wait for recovery, keep building, says Web3 exec

airdrop hunting

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

As short-lived projects that rise and fall rapidly in a bull market begin to fold and fade out of the rearview mirror, new projects that represent the next generation of blockchain protocols start launching and need to attract users to their ecosystems.

While the tokens of these projects often start out with little value, patient individuals can sometimes be rewarded handsomely in the future once bullish momentum returns to the market.

Another option is for crypto degens to explore airdrops that have taken place, with the goal of finding airdrops they are eligible for but have not yet claimed. Some recent examples include the Optimism (OP) and Evmos (EVMOS) airdrops, which appeared at the tail end of a bull market and may have gotten lost in the chaos of the past few months.

Once claimed, users can choose to sell these tokens as stablecoins or other preferred cryptocurrencies, or they can hold them in the hope that they will see substantial gains once crypto spring arrives.

Spreading the Gospel of Crypto (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 designed to attract users and liquidity.

While the cryptocurrency contagion sparked by the collapse of Terra (LUNA) (now known as Terra Classic (LUNC)) and Three Arrows Capital has led companies like Coinbase to tighten their belts and stop offering referral bonuses, there is still ample opportunity for evangelists Spread the word and get rewarded.

It also helps attract the coinless to the crypto community, as those searching for additional incentives outside the pool of available traders in pursuit of higher bonuses.

It is important to note that those interested in earning extra cryptocurrency through referrals should do proper due diligence on the platform before directing others there, as people may look unkind to referring them to scams or trolls Carpet man.

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

The views and opinions expressed here are those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk and you should do your own research when making a decision.

Coinmama

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