Best Ways to Earn Ethereum
Some of the best ways to earn Ethereum are through using crypto loan platforms. These platforms provide the opportunity to earn Ethereum in two different ways:
- Ethereum Trading: Traders can use their crypto assets as collateral for a loan. The crypto loan can then be used for trading Ethereum. Crypto markets are volatile and experienced traders can take advantage of this. They may make multiple trades in a very short period, and can often profit when ETH goes up or down. This method requires extensive knowledge of the market and carries a fair amount of risk.
- Ethereum Lending: Investors already holding ETH can deposit it to a lending platform and earn interest on their asset. The platform arranges to loan the ETH to a borrower who is required to put up crypto as collateral to secure the loan. The lender’s deposit is secured by this collateral in the event a borrower defaults on a loan. Rather than having their ether sit idle in a wallet, lenders earn and will still benefit from any increase in value. Ethereum and Bitcoin lending requires little effort and risk is lessened by the borrower’s collateral.
Below we discuss 3 of the best crypto trading platforms.
BlockFi
BlockFi is a popular crypto lending platform based in New Jersey. They offer crypto backed loans and interest earning accounts for Ethereum as well as several other cryptocurrencies. The loan to value (LTV) ratio for loans is as high as 50% at BlockFi. Interest rates vary depending on the LTV. The minimum amount users can borrow from BlockFi is $5000. Ethereum interest earning accounts are currently paying 5.25% APY. There is no minimum required deposit and BlockFi doesn’t charge fees on interest earning accounts.
YouHodler
Based out of Switzerland, YouHodler is a crypto loan platform that was launched in 2019. Crypto backed loans are available in US dollars, Euros, GBP, Swiss Francs, BTC, and USDT and YouHodler accepts 18 different cryptos as collateral including Ethereum. At YouHodler they offer as high as 90% LTV ratio. They also offer interest earning accounts for a total of 22 different cryptocurrencies including ETH. Ethereum accounts currently earn 5.5% APY. No monthly fees are charged and the minimum required deposit to open an account is $100.
CoinLoan
CoinLoan is a crypto lending platform based in Estonia. The site was launched in 2016 and provides crypto backed loans and interest earning accounts for Ethereum and other cryptocurrencies. Depositors who have staked CLT, the CoinLoan Token, can earn up to 7.2% APY on Ethereum accounts. Without staking the interest rate for ETH is 5.2%. The minimum deposit required to open a CoinLoan account is €100 and no fees apply. CoinLoan also provides crypto backed loans and accepts Ethereum and several other cryptocurrencies as collateral.
Earn Free Ethereum
The methods discussed so far require some expenditure to take advantage of. However, there are ways to earn free Ethereum that will only require a little time.
- Faucets: Faucets are websites or applications where users can complete simple tasks and be rewarded with a small amount of Ethereum. A task might be to complete a survey, watch a video, or play a game. Faucets aren’t just for Ethereum. They are also a popular choice for how to earn Ripple and many other cryptocurrencies as well.
- Gambling: There are many cryptocurrency casinos online where players can wager using ETH. Some of these online casinos will even give users free crypto just for registering to their site.
Earn Ether
There are also a few ways to earn ether by working at it. These include:
- Affiliate/Referral Programs: Crypto related businesses will often pay commissions to those who refer customers to their site. Not only can you earn ETH, but you can also earn Litecoin and other cryptocurrencies.
- Freelancing: There are companies perfectly willing to pay salaries to freelancers using ether and other cryptocurrencies instead of fiat money.