3 Best Ways to Make Money in Crypto Without Investing A Whole Lot
How newcomers may use bounties, airdrops and affiliate programs to get their feet wet in crypto. In developing countries, financial rewards are higher due to the exchange rates with the dollar.
Honestly, this is not a get rich quick scheme. But for crypto junkies connected to a laptop or their phones all day, there’s some money to be made in bounty programs and airdrops. The goal: crypto companies will pay you a few dollars (or in their own tokens) for spreading the word about them on social media. In some countries, that’s the plugged-in crypto enthusiast’s perfect side hustle.
Crypto is making a comeback. Months ago, Bitcoin has bottomed out in the $3,000s and now is oscillating around the $10,000 mark. Despite the flame-out in the ICO market, new tokens are still being launched by startups. the playing field is not dead.
Companies like Airdrops.io and Bounty0X are designed to allow even novice cryptocurrency investors a chance to earn new coins or hard currency by completing simple marketing or other tasks. Startups issuing their new coins will usually ask you to set up an account so they can send you their token payments. Bounty participants will have to do their own due diligence as to how easy it is to transfer those coins into dollars, or at least into Bitcoin and Ethereum.
Telegram airdrop
Here’s an example of an airdrop for Telegram users: Cloud computing startup CUDOS is airdropping $7 worth of their tokens to people who join their Telegram community. Chat with their Telegram bot, complete easy social tasks and submit your details to the airdrop form to claim the tokens. They also pay $0.7 worth of CUDOS coins for each referral. The best referrers who have given the company at least 500 real live bodies interested in investing in their cloud computing startup have a chance to get a one-time payout of $2,500.
Not all airdrops and bounties are available in the United States. That’s where platforms like Bounty0X can serve a purpose. Potential bounty hunters can search for programs available at home.
Tokens for posting
Take TeleCoin for example. It’s open to the U.S. You can earn their TELEX tokens for simply posting about their initial exchange offering on LinkedIn.
“Once you get good at it you can do non-public campaigns,” says Diego Santos from Brazil. “I made a lot of connections and fortunately my services often get requested now.” He says he is currently dedicated to some new startups as their official representative in Brazil. “I’ll help them with some translating and taking care of some communities online. Opportunities are still out there. A lot of campaigns are appearing daily at BitCoinTalk. For those jumping in right now, I’d say: welcome to the game and good luck!”
Crypto fans and newcomers to the market, especially those in developing countries, have a chance to make some real money here.
Brazilians are big users of bounty programs. Other countries where this is becoming a nice way to make some crypto cash include Turkey, Colombia, Argentina and South Africa.
For example, a small $100 a month in bounty and other program income is the equivalent to R$400 a month in Brazil. That’s a car payment. And it is roughly 45% of Brazil’s minimum monthly wage!
Bounty types
There are two types of bounty programs that startups use, the pre-offering bounty and the post-offering bounty. The pre- is carried out before the actual launch of the project and is focused on marketing the concept to prospective investors. The post- bounty campaign is aimed at fine-tuning the project (best for techies finding bugs), communication and building the community on social media.
Most airdrops are “bounty” offerings. Airdrops create a win-win scenario because the company gets free marketing, and you get free crypto. Other airdrops will reward you for simply holding a specific coin without expectation of any reciprocal consideration.
The problem with bounties and airdrops is that coins may be hard to sell for BTC or fiat currency. Or might just be outright scams.
Referral programs
That’s where referral programs come in. They do not require any upfront investment to be a part of these programs. All you have to do is open an account on the cryptocurrency exchange offering the affiliate program — there are a number of solid exchanges out there you can trust. They are legitimate companies, not startups, whose exchanges are already in use.
Of the 44 top cryptocurrency exchanges, 26 give out financial awards for referrals and 18 have affiliate programs. Of the two new exchanges launched in 2019 — Currency and VinDAX — both have referral programs. Worth noting, of the 26 exchanges that offer referral awards, 24 of them also have affiliate programs, meaning you can be a money-making partner in the growth of that business.
In lower-income countries, that partnership comes with a higher financial reward due to the exchange rates with the dollar.
“The exchange affiliate program is really a special offer to partners who have wide distribution channels and can, therefore, bring in more business, potentially,” says Anti Danilevski, CEO & Founder of Kick Ecosystem. “Otherwise, the exchanges will just use a referral program because they are more universal, open to anyone.”
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