1. Participate in Airdrop Programs
Reward programs (airdrop/bounty programs) are among the popular methods chosen by projects to encourage users to engage with their platform and expand their presence. Eligible users are then rewarded by the project.
You can earn money with low capital by participating in activities such as engaging with social media platforms, retweeting, trying out applications, and other tasks for various projects to have a chance at receiving rewards.
However, not all airdrop programs require minimal investment. Some projects launch reward programs that demand significant user costs, but the rewards may not justify the effort and expenses involved.
It is important to thoroughly research reward programs and assess the legitimacy of the projects to avoid risks associated with scam projects via airdrops.
2. Staking
Staking is a way to earn money with low capital that requires users to lock up a specific amount of cryptocurrency to receive rewards.
There are quite a few crypto projects on the market that allow users to participate in staking to earn rewards.
Some staking platforms you might consider are:
- What is SSV Network? A decentralized, open-source staking platform for ETH.
- What is Lido Finance? A Liquid Staking Derivatives (LSD) solution for Ethereum 2.0.
3. Faucets
Faucets (also known as crypto faucets) are websites or applications that provide free cryptocurrency to users.
After completing a few simple tasks on the faucet website, users receive a small amount of cryptocurrency.
Tasks may include activities such as viewing ads, solving captchas, participating in surveys, and other actions.
The primary goal of these websites is to introduce new users to the world of cryptocurrency and help them become familiar with using and storing crypto.
Although faucets provide free cryptocurrency, the rewards are usually quite small and require patience. Users need to accumulate a sufficiently large amount of cryptocurrency before they can withdraw and use it. This is also a low-capital way to earn money that many newcomers to the crypto market choose.
4. Referral programs
These are programs set up by a project to encourage and reward those who refer new users to experience the project’s products.
If you have a diverse network and can introduce others to try out a project or cryptocurrency exchange, you can earn money through referral programs.
When participating in these programs, you will be provided with a referral link (a link you use to share with others). If the person you refer uses a feature of the project or downloads the app through this link, you will earn a certain percentage of commission.
In the crypto space, centralized exchanges typically offer a wider variety of ref programs.
5. Freemint NFT
This term refers to the process of minting NFTs without spending money.
Users only need to cover the gas fees for minting NFTs. Here are some notable projects offering freemints that have provided good returns for users recently:
- Sugartown: 0 → 0.42 ETH
- Kart Party: 0 → 1.2 ETH
- Mittaria Genesis: 0 → 0.15 ETH
- Skyborne: 0 → 0.036 ETH
- Weebox: 0 → 0.1 ETH
- ONI: 0 → 0.15 ETH
- ZTX Genesis: 0.06 → 0.31 ETH
- The Grapes: 0.039 → 0.55 ETH
To earn money through this activity, you need to follow NFT KOLs (Key Opinion Leaders) on platform X to identify promising projects. Then, combine this with performing certain actions to earn WL (whitelist) spots and participate in minting NFTs.
6. “x to earn” activities
6.1. Play-to-earn
It can be said that 2021 was a remarkable year for Play-to-earn projects. This is a business model in the field of cryptocurrency gaming and virtual worlds, where players have the opportunity to earn rewards by participating in gameplay.
The most notable and pioneering Play-to-Earn project is Axie Infinity. This is a blockchain game that integrates with NFTs (non-fungible tokens). In Axie Infinity, players breed and battle virtual creatures called Axies to earn SLP (Smooth Love Potion) and AXS (Axie Infinity Shards) tokens by participating in the game.
However, to make money with Axie, users need to own at least 3 Axies (characters in the game). In 2021, the capital required to earn money in the game was around $1000.
6.2. Free-to-earn
Unlike Play-to-Earn, users do not need to spend money to buy NFTs when participating in Free-to-Earn games, yet they still have the opportunity to receive rewards.
However, since there is no need to spend money to enter the game, the rewards that users receive are often not as high as those from games that require NFT investments.
6.3. Move-to-earn
The third wave is Move-to-Earn, a model that encourages users to earn money by participating in physical activities in the real world, with running and walking being the most popular examples.
Sweatcoin is a mobile app designed to track users' steps and then convert them into Sweatcoins. You can use Sweatcoins to redeem for various rewards, such as sports products or even exchange them for cash.
In addition to Sweatcoin, we must also mention the StepN project built on Solana. However, at present, Move-to-Earn projects have seen a significant decline in users, as they have been in a downturn for quite some time.
6.4. Learn-to-earn
Learn-to-Earn is a model in the world of cryptocurrency and blockchain where users earn money by engaging in educational activities and enhancing their personal skills.
Instead of relying solely on playing games or engaging in physical activities, Learn-to-Earn focuses on providing value through learning and personal development.
For example, you can participate in Learn-to-Earn programs offered by Coinmarketcap, Coinbase, and Binance to earn rewards.
6.5. Create-to-earn
Create-to-Earn typically refers to users earning money by creating content or digital products using blockchain technology.
Here are some examples of how Create-to-Earn (C2E) works in the crypto space:
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Creating NFTs: NFTs are special tokens on the blockchain representing artwork, games, or other digital assets. Users can create NFTs by uploading their artwork to NFT platforms like OpenSea. Each time an NFT is sold, the creator receives payment.
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Participating in Content Creation Programs: Blockchain projects may organize content creation programs and reward active participants who contribute articles, videos, or other content.
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Building and Managing Communities: Besides the above methods, this approach typically requires no initial investment. You can look for projects seeking ambassadors or community builders in the Vietnamese market and apply. By performing tasks such as responding to community messages, providing technical support, and assisting with marketing for the project, some individuals earn hundreds of millions of VND per month by managing communities for various projects.
Overall, except for Create-to-Earn and Learn-to-Earn activities, most other x-to-Earn models operate with Ponzi (multi-level) schemes. For this reason, the timing of participation is crucial. Once you understand the model, joining early can help minimize risks more effectively.
7. Research and Education
The most important commitment that everyone needs to make before they can start earning money in this market is to dedicate time to thoroughly understand the market and the projects.
When you become someone capable of conducting independent research, you can understand better and make more informed investment decisions. Additionally, by observing the development of projects, you can more easily and securely earn money.
8. Conclusion
The above are some insights and observations I have gathered from being in the crypto market.
There is a saying that I find extremely impressive: "Money follows value." The more value you contribute, the more you will receive in return.
Therefore, the methods mentioned above are just a few options you can consider; you should not expect too much from free opportunities or those requiring minimal investment. This approach will help you avoid risks associated with scams in the market.
I wish you enjoyable and successful experiences in the market.
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