Learn a different sites to earn Ethereum including receiving interest from ether deposits and by trading Ethereum

Best Platforms to Earn Ethereum


What is Ethereum and How Do You Earn It?

Ethereum is the second largest cryptocurrency and the third most traded. Investors see a lot of potential in this cryptocurrency and adding to ETC holdings is never a bad idea. Because of this potential, there are many asking how to earn ether so they can reap the potential benefits. There are a number of different options to earn Ethereum online which will be discussed further.

How to Earn Ethereum

Many people unfamiliar with cryptocurrencies believe the only way to obtain Ethereum is by purchasing it outright. However, there are a number of other methods to get Ethereum:

  • Mining: This is probably the best known method for how to earn ETH. Ethereum mining involves the use of computers to solve complicated cryptographic puzzles. The first to successfully solve a puzzle receives an amount of ETH. Mining Ethereum can be profitable but is expensive. The necessary computer hardware isn’t cheap and the cost of the electricity to run the hardware can be fairly substantial.
  • Staking: For staking or “Proof of Stake” an investor must already hold some Ethereum. Their ETH is “frozen” for a certain period of time which provides them with the chance to claim the next block on the chain and earn Ethereum. Staking is becoming more popular and is viewed as a way to replace mining as a way to claim Ethereum. Basically, the more ETH that is staked, the better the chances of claiming some ether.

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.

Frequently Asked Questions

1. How is it possible to earn Ethereum without mining?

There are plenty of options to earn ETH besides mining. These include staking Ethereum, trading ETH, depositing Ethereum assets into interest bearing accounts, participating in Ethereum affiliate programs, and making use of crypto faucets.

2. What is fastest way to earn Ethereum?

Two of the fastest methods for earning ETH are by trading and by depositing ether to an interest bearing account. Trading provides the opportunity for bigger returns but carries more risk and requires extensive experience. Ethereum interest bearing accounts start paying interest immediately and are a safer investment.