Cryptocurrency Ether: how to earn money in different ways

Ethereum is a decentralized blockchain network and platform for creating Dapps applications that are managed by smart contracts. The internal currency is ETH (ether). In 2017, there was a peak in the popularity of ICOs that were held on the platform. At the same time, the project issued its own cryptocurrency, which is called ERC-20 tokens. Against this background, the cryptocurrency rate increased tenfold and exceeded $1,000 per 1 ETH. Early investors made a lot of money from the pump. In 2020, the rate is moving down with minor rebounds upward, so those who short (sell) are already making money on Ethereum. In the article, the editors of Profinvestment.com reviewed all possible ways to obtain Ethereum, including without investments.

Current ways to earn Ethereum in 2020:

Trading on a crypto exchange. For example, you can trade derivatives on the popular margin crypto exchange BitMEX. Maximum leverage is x*50. Topping up your account balance is possible with Bitcoin (minimum amount - 0.0001 XBT).
On Ethereum faucets. This is an option to earn money without investment. On such sites you can get coins after a certain period of time for performing simple actions.
Mining. This is cryptocurrency mining using computing power. At the time of writing this review, Ethereum mining is not profitable at the current rate ($100). It makes sense to do it if you have access to free electricity and low equipment maintenance costs.
Long-term option (hodl) on how to make money on Ethereum: purchase ETH on an exchange or in a cryptocurrency exchanger, withdraw it to your wallet and wait for a new increase in value in the coming years. The market is cyclical, a fall will certainly be followed by growth.

Earn money on Ethereum faucet without investment

The most popular way for owners of the Ethereum cryptocurrency is to earn it through cryptocurrency faucets. The option will not require additional cash costs or investments. There is no risk of losing funds. The main thing is to find reliable faucets that pay and withdraw earned Ethereum.

Most online services pay Gwei, which is equal to 0.000000001 ETH. Withdrawal can be direct, to a specified Ethereum wallet address, or to the FaucetHUB micropayment faucet. The second option is the most common, so before you start working with faucets, you should register and link your ETH address to faucethub.io.

Let's look at a few examples of making money on Ethereum faucets. We will provide instructions for working with them for the first one, since the actions are similar to the others. There are a lot of advertisements on the sites, but by displaying them you have the opportunity to get some free cryptocurrency.

Claimethfree. Fat faucet, you can earn up to 3000 GWEI or 0.0000003 Ethereum every 5 minutes. Payments are instant on FaucetHub. You need to indicate the address in the line and click the “Login” button below, and then “Continue”.

Next, go through the captcha and antibot (by clicking on the words in the correct order).

Click “Verify”. A new page will open, on which you again need to go through the captcha and click “Click here to continue.”

A countdown timer should appear. After the time has elapsed, the “Get Link” button will light up. You need to be careful, there are a lot of advertisements and left-handed links that you periodically click on.

If everything is done correctly, a notification will appear indicating the successful transfer of cryptocurrency to your Faucethub account.

Vivocoin faucet. Allows you to receive free cryptocurrency every 5 minutes. The amount depends on the exchange rate and is equivalent to $0.001. At the time of writing the review, the site was paying 896 Gwei or 0.000000896 ETH. Withdrawal automatically to the address linked to your Faucethub account (link above).
Allcoins is a multi-faucet for receiving Bitcoin, Ethereum, Litecoin, Dogecoin and other cryptocurrencies. You can request coins every 300 seconds or 5 minutes. Issues 0.00000157 ETH at a time. When withdrawing to a wallet, the minimum amount is 0.0036 ETH; via Faucethub - 0.00000002 ETH.
Faucetcrypto faucet. 28 cryptocurrencies are available, including Ethereum. To view the full list, select Cryptocurrency - List. You can earn every 10 minutes, amount 319–502 Gweis (0.000000319–0.000000502 ETH).

View the full list of Ethereum faucets

Where to earn Ethereum

We described the most popular and accessible ways to earn Ethereum above, and now let’s summarize all of the above.

Exchanges trading ETH

Today it is very difficult to find a well-known cryptocurrency exchange that ignores Ethereum, so you can buy and sell them on any exchange platform. To choose the best one, we provide you with the information below, presenting it in a convenient table form, with the main characteristics and indicators:

CEX.io	LiveCoin	EXMO	BitSane
Commission fees	Small	Average	Average	Small
Minimum deposit	100$	0	1$-10$	10$
Russian language	+	+	+	—
Visa/MasterCard	+	—	—	—
Input currency	Dollar, euro, pound sterling, ruble	Dollar, euro, ruble	Dollar, euro, ruble, hryvnia	Dollar, euro

Cryptocurrency faucets

If you set yourself the task of counting the total number of all faucets available on the Internet that provide the opportunity to earn Ethereum, you will simply lose count. But there is one problem - most of these faucets are fraudulent and do not pay their users. In order not to waste your time, we offer you a list of faucets that actually work and pay users:

3btc

With this faucet you can earn not only Ethereum, but also 7 more very good cryptocurrencies with growth prospects. Again, all you have to do is enter an alphanumeric code to earn money. Agree, this is not difficult at all.

Ethereumfaucet.info

A distinctive feature of this working faucet is the ability to withdraw funds from a minimum amount - only 0.0025 Ethereum

How to earn Ethereum by mining

In 2020, it is almost impossible to make money on Ethereum mining and become profitable. The reasons are the low rate of cryptocurrency. On November 26, it is at the $100 mark. But the situation can change at any moment, so you should find out how the coin mining process occurs. You can mine Ethereum on regular video cards (GPUs), so it won’t be difficult to figure it out.

Every 15 seconds, a new block appears on the Ethereum network, which includes the latest user transactions. The miner's reward for finding it is 3 ETH. When mining Ethereum, the hashing algorithm is Ethash. For mathematical calculations to find new blocks, you will need a good video card with a minimum amount of memory of 1 GB. We recommend using 2–4 GB or more. The resulting hashrate will be higher, as will the earnings. Research conducted by Ethereum developers has shown that more powerful video cards are based on AMD processors.

The first step towards mining is to download, install and configure software (Ethminer, Claymores dual, Geth, Parity, etc.). Only after completing this step will it be possible to interact with the network from the console and synchronize with the blockchain. For mining to be effective, you will need to select a pool (NiceHash, ETHpool, etc.).

To really make money on cryptocurrency, people create their own farms. They consist of several modern and powerful video cards that can easily be placed in the home and do not cause discomfort, since they do not require much space.

There are also cloud mining sites on the Internet. The advantages of this method include the fact that to earn money you will not need to purchase expensive equipment, because the percentage of income will directly depend only on the capacity purchased on existing servers.

More detailed information about the launch of mining can be found on the official website ethereum.org.

Ways to earn Ethereum without investment

There are various services on the Internet that allow you to earn Ethereum for free. At their core, they are ordinary platforms for making money online, but they make payments in Ethers. These resources include:

Ethereum faucets;
games, lotteries, casinos;
referral programs.

When making calculations on all of these sites, a smaller unit of measurement for Ethereum is used - Gwei, which is one billionth of it .

Withdrawals can be made directly to the specified ethereum wallet address, but most often to the FaucetHUB faucet. In any case, before starting work, you need to register on the official website of the corresponding resource and link its address to your account.

Ethereum faucets

The easiest way to earn Ethereum without investing is through cryptocurrency faucets. This is the name of special resources that pay for viewing advertisements and performing simple actions. The main thing is to find reliable services that allow you not only to earn money, but also to withdraw received coins.

The essence of the work of ethereum faucets is that such projects themselves receive income from increasing the number of users who viewed advertising banners or advertisers’ websites. It is these advertisers who pay the faucets a reward for views , and they share part of the profit with those who increase these views.

In most cases, the user needs not only to watch advertising pages, but also to perform simple tasks :

enter captcha;
follow links;
surf sites;
run videos and ghjxtt.

A special feature of working on ethereum faucets is that tasks are not always available in one account, but appear with a certain frequency - from 5 minutes to 1 hour. Therefore, those users who have time for constant work are recommended to register on several resources at once.

It should also be taken into account that even Ethereum faucets with a good reputation can at any time stop making payments or their existence in general. Therefore, the earned funds must be withdrawn to your wallet immediately after reaching the established withdrawal limit. For the same reason, you should choose to earn money from services with a minimum amount for an application or with direct credit to your wallet. As a rule, faucets with the highest and most stable payments require a connection to the FaucetHub platform.

Ethereum games, lotteries, casinos

Gamers and those who like to play casinos or lotteries can become owners of cryptocurrency without changing their usual activities, since you can earn Ethereum without investments in such interesting ways. To do this, it is enough to use services based on blockchain technologies. Today there are more than 70 games with prize payouts in Ether, so there will be no restrictions on choice for gaming fans.

Participating in the lottery can also be a way to earn money, but profit here is not always guaranteed . Most resources offer two drawing options:

instant - you need to place a bet, select a code and wait for the result: if the code is winning, the participant will receive a reward;
circulation - here tickets are bought, and then the winning one is selected from among them.

The size of the prize fund depends on the participants' bets or the number of tickets purchased.

Online casinos work in a similar way, where bets are accepted in Ethereum coins. The account is replenished with the same currency and winnings are paid out.

Referral programs and ETH

Almost every resource for earning Ether is interested in its own advertising and promotion, so it offers its participants special programs to attract new users. For this purpose, each of them is assigned a referral link or code immediately after registration.

All new participants who follow and register using the link (or enter the code) become referrals. And the owner of the link - the referrer - will receive interest from the amount of their earnings. Thus, if you involve many friends in several projects, you can ensure a stable receipt of passive income.

We recommend reading about: earning money from referrals.

Thus, in order to get your first Ethereum coins, you need to look for options: how you can do this without investing, and when the Ethereum cryptocurrency appears, how to earn money by investing it. It should be understood that making money with investments is always riskier, but also much more profitable.

Earnings from investing in Ethereum

To make money, you should invest in Ethereum for a period of several years, until the next pump. Today the rate is 100 US dollars, many consider this the bottom and a place for a successful purchase. We believe that part of the fiat deposit can be transferred to ether now, the other part - in case it falls to $80, the third - to $50. Whether the Ethereum rate will reach such levels is unknown, but you need to be ready to buy back. You always need to assess the risks; you can both earn and lose.

To purchase and invest in Ethereum (hodl), you can use the following methods:

Crypto exchanges. When using fiat, the list of exchanges is as follows: EXMO, Livecoin. If you exchange another cryptocurrency for Ether, then Binance.
Exchangers.
P2p exchange with other users.

When purchasing from an exchanger or transferring coins from an exchange, you must indicate your Ethereum address for receipt. The address starts with 0x, length 40–44 characters:

There are many ways to get it, using different types of cryptocurrency wallets: desktop, online, hardware, paper. MyEtherWallet is popular, the interface of which allows you to work with ERC20 tokens.

General methods for preparing ethers

Common methods for preparing ethers include:

A. Williamson's reaction;
intermolecular dehydration of alcohols;
alkoxymercuration of alkenes.

A. Williamson's synthesis involves the treatment of potassium or sodium alcohalates with halogen compounds, alkyl sulfates or alkyl sulfonates and has the form:

Picture 1.

Of the two radicals, one $R$ goes into ether from an alcohol molecule, and the second $R'$ goes from a haloalkane molecule. The best yield of ester can be obtained if $R'$ is the primary radical. In this case, the reaction proceeds according to the mechanism of bimolecular nucleophilic substitution $S_N2$, for example:

Figure 2.

For example , obtaining methyl ethyl ether from sodium ethoxide:

Figure 3.

A. Williamson's synthesis is suitable only for primary $RX$, since tert-alcoholate ions are very bulky.

By intermolecular dehydration of primary alcohols in the presence of acid catalysts, symmetrical ethers can be obtained, for example, the preparation of dimethyl ether from methanol:

Figure 4.

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For other alcohols, dehydration is competed by the formation of alkenes. But under certain conditions you can get a simple ether:

Figure 5.

Intermolecular dehydration of alcohols is not used to obtain phenol ethers, since the hydroxyl in these compounds is tightly bound. Alcohols with a reactive hydroxyl, such as benzhydrol $(C_6H_5)_2CHOH$ or benzyl alcohol $C_6H_5CH_2OH$, esterify very easily.

Depending on the structure of the alcohol, dehydration occurs via the $S_N1$ or $S_N2$ substitution mechanism. The intermolecular dehydration reaction is a good method for preparing mixed alcohols if the group $R$ is primary and $R'$ is tertiary.

A specific catalyst for the preparation of ethers from allyl alcohols is chloroplatinic acid.

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Figure 6.

Intermolecular dehydration is of practical importance for the production of ethers of lower alcohols, especially ethyl ether.

The esterification reaction can be carried out under conditions of heterogeneous catalysis, passing alcohol vapor over $Al_2O_3$, $ThO_2$, $TiO_2$, $W_2O_5$ or over alum at a temperature of 135-140$^\circ$С. The same reagents are used in this reaction as for the production of ethylene. However, the ratio of starting substances and the lower temperature will be different.

Alkoxymercuration of alkenes begins with the attack of the double bond of the olefin by the $^+HgOCOCH_3$ cation, resulting in the formation of an intermediate in the form of a mercurionium cation, which subsequently opens as a result of the nucleophilic attack of the alcohol at the most substituted carbon atom:

Figure 7.

When synthesizing esters containing a secondary or tertiary alkyl, mercury (I) trifluoroacetate is used; the reaction takes place in alcohol:

Figure 8.

Ethers can be prepared by methylating alcohols with diazomethane. This reaction gives particularly good results in the case of unhindered primary and secondary alcohols. The reaction occurs in the presence of an acid catalyst $HBF_4$ or $BF_3$ (acids with nucleophilic anions are not used). The reaction proceeds with the formation of the intermediate methyl diazonium ion ${CH_3N_3}^+$.

Figure 9.

Make money trading Ethereum cryptocurrency

On regular cryptocurrency platforms (EXMO, Binance), you first need to buy Ethereum and only then sell it. To make money, you need to sell at a price higher than you bought. This was true in a rising market in 2020, but not in a falling market.

To be able to immediately open transactions in the desired direction, you should use margin exchanges. You can use them to short cryptocurrency (sell) and open long transactions (buy). Leverage allows you to increase the transaction volume several times.

The most popular exchanges: BitMEX, BitFinex, Poloniex. Forex companies also provide the opportunity to use margin trading.

BitMEX does not require verification, unlike other platforms. You can only top up your deposit with Bitcoin. Withdrawals are made once a day. The leverage size for Ethereum is from 0 to 50.

Earning Ethereum with investments

The Ethereum coins you own can be used to earn extra money in a variety of ways. The most profitable of them are long-term or highly profitable investments and trading on cryptocurrency exchanges. In addition, there is another option - mining, which in turn comes in two types:

classic - using the power of your equipment;
cloud – on rented facilities.

It should be noted right away that due to the increased demand for cryptocurrency mining, the cost of equipment and software for classical mining has increased significantly, and its profitability, on the contrary, has decreased. Therefore, the initial costs of organizing mining, at best, pay off for a very long time, and at worst, they do not pay off at all. For those who want to take a risk, you can try mining Ethereum, but preferably using less expensive cloud mining.

Classic Ethereum mining

To mine ETH using classic mining, you need to purchase a set of equipment that at least includes :

a computer with an increased amount of RAM (at least 4 GB) and a powerful processor capable of assigning 1 core to each video card;
the latest software with updated drivers;
high-performance video cards - at least four with a memory capacity of 2 GB each;
high-quality cooling systems;
high speed internet;
OS from Windows7 and higher.

After assembling all the equipment, you need to perform several steps:

select a pool - a special server where mining is carried out directly;
install and configure a miner program created for the video card used and specifically for Ethereum mining;
enter the pool address, account number and other personal information in accordance with the requirements of the program;
activate the mining launch file.

Next, the process of collecting cryptocurrency will be performed automatically. The computer must work around the clock and uninterruptedly, only then Ethereum earnings will be relatively significant.

Maybe you will be interested in the article: how to earn Bitcoin on a machine.

Mining itself is based on mathematical calculations with the generation of individual blocks containing a unique set of data, each of which confirms the conduct of transactions during its existence. The computer that finds such a block receives a reward of 3 ETH. A new block appears on the Ethereum network every 15 seconds. The higher the power of the equipment involved in the operation, the greater the chances of receiving money .

To really make money from mining, many users create entire complexes - so-called farms from several powerful video cards. At the same time, higher electricity bills should be added to the cost of hardware, since all equipment must work around the clock, performing calculations in a continuous mode.

Cloud mining ETH

a more accessible option for the average user for mining Ethereum coins, which does not require the cost of purchasing high capacities . With this earning option, each user rents equipment, choosing a certain computing power. Depending on its value, both profit and rental cost are determined. At the same time, earning eth is also done automatically – you just need to complete a number of settings and connect to a remote farm.

In addition to less significant financial investments at the start, cloud mining has several more advantages over classical mining due to the absence of such unpleasant factors as:

the need to constantly monitor the operation of the equipment in order to avoid failures or interruptions in operation (even a second disconnection from the mining network excludes the miner from among the miners in a given block and allows him to connect only to the next one);
increased consumption of electricity , which is spent in increased mode to ensure the functioning of constantly operating equipment;
the presence of constant noise in the room and additional heat generated from powerful machines.

Along with the advantages, cloud mining of Ethereum coins has a significant disadvantage - a high risk of fraud both in terms of payment of rent and in the distribution of mined coins. To minimize the likelihood of running into scammers, it is recommended to choose trusted resources with a reputation confirmed by real reviews. A good option would be to cooperate with services that provide the opportunity to try your hand at a bonus program that provides short-term free participation in cloud mining. This approach will allow you to determine whether it is profitable to make such money at all and whether it is worth buying a contract from this company.

Participation in ICO Ethereum

ICO is the placement of crypto coins in order to create a budget for the development of the project. When entering the exchange, the cost of Ethers purchased by investors participating in the ICO increases significantly, which brings them large profits. Therefore, buying coins in ICO is considered a very profitable investment and the best option for earning money.

To become a participant in the ICO, you need to create an official Ethereum wallet - MyEtherWallet, credit (buy or earn) Ethers to your account and transfer a certain amount to the Ethereum wallet of the selected ICO project. For this, a corresponding number of tokens will be credited, which can then be sold on the exchange at a higher price.

Trading on the stock exchange (trading Ethers)

Earning Ethereum on the exchange is another one of the most profitable ways to mine cryptocurrency. The idea is to buy coins at the minimum cost (during a decline in the rate), and sell at the maximum (during a rise). However, such a process only at first glance seems simple and accessible to every user. In fact, before you earn Ether by trading (trading on the stock exchange), you need to carefully study all the nuances of this work, as well as constantly monitor the exchange rate and predict its fluctuations depending on economic, political and other factors. In addition, you need to choose a reliable exchange and understand the rules of working on it.

There are two types of exchanges for trading Ethereum:

regular cryptocurrency platforms, where coins must first be purchased and only then allowed to be sold;
margin exchanges where you can immediately open purchase or sale transactions.

Exchanges also differ in their operating principles:

some involve actions through a broker and through special programs;
others allow you to perform exchange transactions within the service after registration.

Another difference concerns the work strategy, which can be:

active – with the conduct of purchase and sale transactions over a specified period of time;
passive – with long-term storage of coins in the account and sale at the moment of maximum increase in the rate.

A passive strategy can bring very significant profits only with significant amounts of investment. In addition, with this option of earning money, you should count on a very long waiting period - up to several years. But the possibility of receiving large incomes is quite real.

Ethereum investments in high-yield projects and funds

Having a small amount of Ethers available, you can always invest them in online projects that offer completely different investment conditions and risk levels. Such projects include: cryptocurrency funds, MLM sites, hyip, trust management and other investment portals with an average monthly profitability of 25-40%. And if we also take into account the fact that the cost of ETH can increase during the period of the deposit, then the level of income increases significantly, translated into fiat currencies.

Of course, in order to choose a project for investment, you first need to carefully analyze it by reading reviews on the Internet. And you should never rely only on your instincts, because no one ever knows what plans the administration of a particular fund has. All similar projects bring great profits, but very often they are closed, preventing them from making a profit.

In these projects you can earn Ethereum with investments or through affiliate programs:

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