Cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have gone beyond the initial confines of their niche to develop into key financial assets, providing many opportunities to earn rewards.
Whether you’re a seasoned trader in the space or a newbie looking to get your first exposure to crypto, there are many ways to get involved and start earning crypto rewards. From more broad options like mining and staking to specific programs like VALR’s Global Treasure Hunt, there is a wealth of opportunities ready and waiting to add liquidity and diversity to your portfolio.
Mining
Starting with one of the least simplistic ‘easy’ ways to earn crypto, cryptocurrency mining requires a little technical know-how and some equipment but is the foundational method for acquiring crypto rewards.
By using computer hardware to solve complex mathematical equations, crypto mining works to validate transactions of the chosen blockchain — rewarding successful miners with crypto tokens as a reward. This process was and is still the fundamental method of acquiring BTC, however, it becomes increasingly difficult over time and requires more expensive equipment and power usage to keep up.
Staking
Introduces as the next stage of the consensus mechanism for validating a blockchain, staking involves users holding a certain amount of funds in their crypto wallet to support the blockchain’s network operations.
Staking essentially involves investing your assets to maintain network operations and security in return for crypto rewards for ‘staked’ assets. This method of accruing crypto rewards is usually appealing as it allows stakers to contribute to healthy blockchain network functionality while earning rewards but holdings sometimes are at risk of being reduced or ‘slashed’.
Airdrops or Giveaways
Airdrops and giveaways are free token distribution programs on both new and existing crypto blockchains to help encourage adoption and reward the community. Though this is one of the most popular ways to earn crypto, there are some caveats.
Many airdrops require the meeting of criteria to receive the free crypto rewards, which can sometimes be time-consuming and less rewarding in hindsight. The main concern today with airdrops is that this method is one of the most used ways for scammers to dupe unsuspecting victims into giving up access to their wallets, so opportunists should always triple-check that the airdrop or giveaway is verified.
Platform Participation
In the decentralized finance (DeFi) space, there are a number of platforms willing to offer rewards to users for activity on the platform(s). These could include liquidity mining, yield farming, or more gaming finance (GameFi) methods of earning crypto rewards.
By getting involved in platform activities and/or contributing liquidity to DeFi protocols, users are able to earn transaction fees and crypto rewards for their efforts. Although this method of accruing crypto rewards is popular as a result of its high-risk high-reward potential, risk management is vital.
Crypto Reward Programs
Many platforms in crypto, including cryptocurrency exchanges, DeFi platforms, and wallet solution providers offer reward programs to incentivize investing and trading activities on their platform.
These crypto reward programs usually reward users in relation to their trading volume, for their overall platform engagement, and for governance participation. These opportunities offer crypto enthusiasts and traders alike great opportunities that vary to gain access to crypto rewards.
A prime example of crypto reward program innovation can be seen with VALR’s Global Treasure Hunt. This three-month competition offers new and existing users the opportunity to dig into digital scavenger hunt activities which enables participants to earn Mystery Boxes containing a wealth of crypto rewards.
With a total rewards pool of a whopping $60,000 in crypto rewards, there are only three simple steps for users to get involved and get earning:
Users need to choose their region and ensure they meet specific requirements for participation in the treasure hunt.
After a user has selected their region, they must fill out a registration form to join the quest in the hunt for Mystery Boxes.
Users then need to keep an eye on their email for updates and await the next steps in the treasure hunt for crypto rewards.
VALR’s event rewards users for their participation in the platform’s activities and not only incentivizes user participation through crypto rewards but also through the gamification of the treasure hunt.
Where to Get Started
When it comes to earning crypto rewards easily, there are many options from mining and staking to airdrops and platform participation. With events like VALR’s Global Treasure Hunt bringing the best of all elements, users can safely have fun while earning crypto rewards.
Whether users are looking to dive into the world of DeFi for passive income or just want to get involved more in crypto activities, crypto reward programs like VALR’s treasure hunt encompass the best all of options.