Before getting into (7 legit ways to earn Ethereum fast online 2022). First, understand Ethereum and how does it work?
What is Ethereum?
Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality, which facilitates online contractual agreements.
A smart contract is just a phrase used to describe a computer code that can facilitate the exchange of money, content, property, shares, or anything of value.
When running on the blockchain a smart contract becomes like a self-operating computer program that automatically executes when specific conditions are met.
Like Bitcoin, Ethereum is also a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ in purpose and capability.
Bitcoin offers one particular application of blockchain technology, a kind of peer-to-peer digital cash that enables online Bitcoin payments.
While the Bitcoin blockchain is used to track ownership of Bitcoin, the Ethereum blockchain focuses on running the programming code of any decentralized application.
In the Ethereum blockchain, instead of mining for bitcoin, miners work to earn Ethereum, a type of crypto token that fuels the network. Beyond a stable cryptocurrency, Ether is also used by application developers to pay for transaction fees and services on the Ethereum network.
Ethereum was founded by Vitalik Buterin, a cryptocurrency researcher, and programmer
Due to the Ethereum features and its potential to change the world forever, it has caught everyone’s attention including corporations like Microsoft, Mastercard, BP, National Bank of Canada, Intel, Samsung, Toyota, Cisco, and other market giants.
In 2016 a decentralized autonomous organization called The DAO, a set of smart contracts developed on the platform, raised a record US$150 million in a crowd sale to fund the project, just to have almost a third stolen by a hacker. The event shook the online community, leading to a huge price drop.
Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC).
Despite that Ethereum coin has relatively maintained steady growth even at the time of the crypto market crisis in 2018 till mid 2021.
Recently Ethereum’s price has shown an astonishing increase of 300% in the last few months reaching an all-time high price worth $3892. Experts have predicted that Ethereum’s price will keep climbing and can reach the $6000 mark at the end of the year.
You can check the Live Ethereum price here
You can also visit the Ethereum coin page to check complete stats of the Ethereum market.
After the Hard Fork related to The DAO, Ethereum subsequently forked twice in the fourth quarter of 2016 to deal with other attacks hence they increased their DDoS security to prevent any future hacks.
These are some specific Benefits of Ethereum blockchain
- A third party cannot make any changes to data.
- Apps are based on a network formed around the principle of consensus, making censorship impossible.
- With no central point of failure and secured using cryptography, applications are well protected against hacking attacks and fraudulent activities.
- Apps never go down and can never be switched off.
But every Cryptocurrency has it’s own downside so does Ethereum.
- Because smart contract code is written by humans, smart contracts are only as good as the people who write them. Code bugs can lead to adverse results. If a mistake in the code gets exploited, there is no efficient way in which an attack or exploitation can be stopped other than obtaining a network consensus and rewriting the underlying code.
At the time of writing this article, Ethereum trading volume is second at altcoin trading platforms
Ethereum price has increased astonishingly in the first part of 2021. Ethereum price has surged 400% recently reaching its all-time high of $4891 and predicted to reach $10000 in a few year’s time.
Having said that acquiring a part of Ether can prove to be a hefty amount. On top of this, Ethereum is a stable cryptocurrency with a lot of real-world uses.
1. Ethereum Faucets (Microearning)– One Of The Best Ways To Earn Ethereum
Ethereum faucets are one of the easiest and 100% free ways to earn Ethereum.
To earn Ethereum from an Ethereum faucet, you only need to do simple tasks like watching videos, playing games, and answering surveys.
However, you should know that you can’t make a living only by faucets. These can just be as some side income that you earn in your free time.
There are many scam faucets out there. That is why we create a list of best legit ethereum faucets to rescue you from getting scammed.
1. Best & legit Ethereum Faucets
a) Allcoins Faucet (Allcoins.Pw)
Allcoins.pw is a legit Ethereum faucet to earn Ethereum daily.
Although it is a newly launched faucet, its interface is amazingly clean and user-friendly.
It is a multi-coin faucet.
You can earn ethereum and more than 50 cryptocurrencies every four-minute from the same platform and get paid instantly to your Faucethub account.
Cointiply is a newly launched Ethereum faucet with a lot of premium features to earn free Ethereum.
The interface of the platform is staggering with no irritating pop-up ads.
(But you may encounter with one or two pop-up ads rarely as I noticed it yesterday-updated).
It allows claiming Ethereum every 60 minutes.
C) Ethereum-Faucet.Org – Free Ethereum Faucet And Lottery
Ethereum-Faucet.org allows you to claim a minimum of 370 Gwei every 60 minutes.
It can be said as Ethereum version of Freebitco.in
The interface is the same as of freebitco.in with no pop-up ads
For more, read our article of the best legit ethereum faucets to earn ethereum in 2022.
2. Trade to earn ethereum
Although, trading requires investment. I included it in my list because Ethereum trading is a conventional and most profitable way to earn Ethereum. Cryptocurrency volatility makes crypto trading a lucrative investment which can lead to a high return on investment if you play your cards well.
There are basically two types of trading i.e. Short term trading and long-term trading.
Short-term trading is also called intraday trading because trade ends in a matter of minutes or hours. It is not held overnight. In short-term trading, the trader takes advantage of the short-term price swings of a cryptocurrency.
A crypto trader generally uses this method when an asset is most volatile. This method uses technical trading signals to look for the turning point in short-term trends. The profit can be made on the upward or downward swing of the price of an asset.
Long-term trading can also be termed as ‘buy and hold’ where a crypto trader buys the cryptocurrency and hold it for a longer period it may be weeks, months, or years, and sell the cryptocurrency when it is at its peak price.
In long-term trading, the trader studies the price trend of an asset for a long period of time with the help of technical analytics tools to make informed decisions and avoid suffering from short-term dips in value.
Sunshineprofits is the best website that provides a list of trading tools to make technical analyses. They also provide professional coaching to make trading profitable for a user using their list of trading tools.
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Now let me get into a different kind of Ethereum trading called CFD trading.
It is the most profitable as well as the riskiest way to trade Ethereum. CFD stands for the contract for a difference. CFD trading is a contract between a buyer and the seller.
In CFD trading the trader does not buy Ethereum. Instead, the trader buys a contract to receive the difference between the current and the future coin price. But only if the predicted price trends turn out correctly. If the predicted price trends turn out to be wrong, the trader will make a loss comparable to the invested amount.
CFD trading has its own benefits. It can turn out to be very profitable as CFD brokers offer high leverage usually 1:300 which means $10 of investment allows you to trade $4000 worth assets.
CFD brokers also offer a first deposit bonus which can range up to 200% of your total investment.
a) IQ Option
- Trade Ethereum CFD and options
- Worth $13B of the daily trading volume
- Trade as low as $10
- No trading commission
- No deposit and withdrawal fee
- High leverage up to 1:300
- Buy Ethereum with a credit card
- Regulated and authorized.
b) E-Toro –
- leverage up to 1:400
- Buy Ethereum with PayPal and credit card
- Regulated and Licensed.
- One of the best Ethereum CFD trading platform
C) Avatrade –
- Allows you to trade CFD Ethereum
- 40% deposit bonus
- Advanced trading platform
- Regulated & authorized
- Offers leverage up to 1:400
D) Fortrade –
- Allows Ethereum CFD trading
- high leverage up 1:300
- Regulated and Licensed
- Advanced trading platform.
3. Earn Ethereum With Ethereum betting and Ethereum casinos
Although I don’t promote gambling and casinos. Because more than 60% of people lost their investment in Etherum Betting and Ethereum Gambling.
But still, there are some platforms that provide an amazing interface and free sign-up bonus and a first deposit bonus of 100% to 300%. If you want to try your luck you can give it a shot.
Kindly remember one thing don’t invest money which you can’t afford to lose. Otherwise, I strongly suggest don’t even think about Ethereum gambling and Ethereum casinos
Secondly, Gambling is addictive. Hence don’t get addictive otherwise there is a very high probability that you will be in debt in double-quick time.
Bitzstart is one of the best Ethereum casinos on the planet offering over 1000 games, a Live table, and 3D slots.
It was established in the year 2004.
Why is Bitzstart at the top of the list? because it offers 20 free spins as a sign-up bonus.
You will also receive up to 5 BTC + free spins as the first deposit bonus.
A minimum of 20 (USD, Euro, AUD, GBP) or 0.5 Ethereum is required to receive the 180 free spins and 100% first deposit bonus.
This bonus doesn’t end here You will receive 50% second deposit bonus, 50% third deposit bonus, and again 100% fourth deposit bonus.
There is also a daily weekly bonus which ranges from 50% to 100%.
The site is multi-linguistic and available in three languages English, Swedish, and Russian.
Bitzstart offers almost every classic casino, classic table game, and live dealer game with a whole range of 3D slots. The games are also mobile-friendly.
Customer support is top-notch and available 24/7.
Bitzstart is a must-join Ethereum casino with a whole range of bonuses and promotions.
b) Fortune Jack
Fortune jack is another Ethereum casino which is operating since last four years. It is one of the popular Ethereum casinos in the gambling industry.
Fortune Jack offers the most number of Ethereum casino games than any other Ethereum gambling site.
The games available are Dice, Slots, Sports Betting, Live Dealer, Lottery, Blackjack, Roulette, Keno, Bingo, Jackpot Games, and more.
Fortune jack offers 25 free spins sign up bonus
Plus 110% first deposit bonus with 150 free spins. Fortune Jack is the most trustworthy Ethereum gambling site.
The probability of winning is much high at Fortune jack than other Ethereum gambling site.
They accept 8 cryptocurrencies Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Monero, Dash, and Zcash.
Fortune jack doesn’t support fiat currency as it is purely a cryptocurrency gambling site. Withdrawals are instant.
There is also a loyalty point reward which depends on your membership and amount of cryptocurrency you wager. Customer support is responsive and available 24/7.
c) 7 Bit Casino
7 Bit casino has more than 2000 games including Slots, Video Poker, Live Dealer, Blackjack, Roulette, Poker, Jackpot Games.
Payment methods accepted are Neteller, Skrill, Zapier which is rare among Ethereum casino as most of them doesn’t accept fiat currency.
- The site offers 100% + 100 spins up to €100 EUR or 1.5 BTC welcome bonus.
- The second deposit will earn you a 50% bonus up to €100 EUR or 1.5 BTC
- the third deposit will earn you a 50% bonus up to €200 EUR
mBit is an Ethereum casino as well as Ethereum Sportsbook to earn Ethereum. Other than Ethereum they also accept Bitcoin, Litecoin, Bitcoin Cash, and Dogecoin. Fiat accepted are USD and Euro
mBit offers more than 2000 Ethereum casino and Betting games. Few of the games are casino staples, like blackjack, roulette, and craps. It also offers live dealer games.
The Live Dealer games allow players to interact, with real dealers, and with physical playing cards. Live Dealer allows you to play games in real-time with other players and provides the feel or action just as if you are in an actual casino.
MBit offers 110% first deposit bonus up to 2000 Euro or 250 mBTC. The second deposit earns you a 50% bonus up to 500 Euro or 50 mBTC and third deposit earns you a 25% bonus up to 500 Euro or 50 mBTC
Sportsbook allows you to bet on almost every major sport including e-sports You can bet on all major live tournaments whether it is EPL or NFL.
e) One hash
One hash is a mutual Betting platform. It offers Moon, Dice, Goals, and Slots are the few basic betting Games. But it is much more than a basic Ethereum betting website.
It allows betting on major E-sports and Professional Sports.
You can bet on major sports leagues like EPL(English Premier League), UEFA Champions League, Spanish La-Liga, IPL (Indian premier league), and almost every major league in the world of live sports
Sports available for Ethereum betting are Football, Cricket, American Football (NFL), Tennis, Basketball, Baseball, Rugby, Hockey, Swimming, Combat Sports, and Motorsports.
It also allows betting on movies and other entertainment events.
Cryptocurrencies are no exception on this site You can bet at the assume low or the high price of a cryptocurrency after a certain interval of time.
One hash is also an investment platform where you can invest to receive the share of the profit revenue generated by the platform. One hash has a very intuitive interface with tons of features. It offers high leverage to investors.
One hash without a doubt is the best Ethereum Gambling, best Ethereum Betting, best Ethereum Dice, and best Ethereum investment platform.
To receive 1000 Satoshi + 100% first deposit bonus Sign up with the below link
Cloudbet is the leader of the Ethereum betting industry with a huge reputation.
It allows betting at almost every sport from Football to Cricket with the widest selection of live betting, as well as dozens of additional market specials.
Other than sports Ethereum Betting It also offers Ethereum Dice, Poker, Ethereum slots, Roulette and more than 60 live dealer casino tables.
As I said before, its reputation is indispensable in the Ethereum(crypto) Betting industry and the interface is very appealing with tons of features at the disposal.
Customer support is responsive and available with E-mail and Live Chat. The best part is 100% deposit bonus up to 5 BTC. Cloudbet has high Betting odd and high Betting Limits.
The minimum amount to bet is 0.001 BTC which can go as high as 36 BTC. Cloudbet without a doubt is the best Ethereum betting platform in the Crypto betting industry to earn Ethereum.
4. Mine Ethereum – Earn Ethereum By Mining
Cryptocurrency and altcoin mining is the process of solving complicated mathematical problems and earning a reward in return.
Another legit way to earn Ethereum is to mine it.
Miners in Ethereum are the base of Ethereum networks as they spend their time and computing power to solve mathematical problems and provide “proof-of-work” for the network to verify Ethereum transactions.
The reward for these contributors who help secure the network is new ETH tokens as they complete the proof-of-work tasks.
Mining Ethereum can be a good source of income. Miners receive a reward for each block, in addition to transaction fees paid by users.
Fees usually make a little portion of the overall revenue but as the network gets busier, that small portion can turn into great amounts.
However, it is important to know that mining Ethereum is very controversial now, and you should first check if it is profitable or not.
In general, if your miner consumes less than $0.12 per kilowatt in an hour, you are likely to make more than what you pay.
Though, consumption prices below $0.06 make Ethereum mining 100% invest-deserving business.
5. Ethereum Staking – Earn More Ethereum From Your Current Ethereums
When someone does a transaction on the Ethereum network, their transaction will be recorded on the blockchain, and then it will be finalized.
This is to avoid double-spending. Double-spending is a potential defect in a cryptocurrency system in which the same single digital token can be spent more than once.
To eliminate the possibility of double-spending, each transaction must be verified by the proof-of-stake network.
This network includes various computers on the blockchain to confirm transactions before the transfer is finalized.
Staking Ethereum is to put your Ethereum as security and verify transactions as a validator.
You can stake alone or by collaborating with other people and pooling your Ethereum together in a pool.
If you want to stake alone, you will need 32 ETH to activate validator software.
As a validator, you’ll be accountable for storing data, processing transactions, and adding new blocks to the blockchain.
When you do validate jobs, you will receive a reward. However, keep in mind that you can lose ETH for malicious actions, going offline, and failing to validate.
There is also the option to join a staking pool and just put a small portion of your Ethereum.
6. Earn Ethereum by Staking on Ethereum 2.0
If you don’t know by now, Ethereum 2.0 is an upgrade to the existing Ethereum blockchain.
This upgrade primarily aims to increase the speed, efficiency, and scalability of the Ethereum network.
It is expected that the number of transactions increases from 15 per second to 100,000 per second after this update.
Ethereum 2.0 has some fundamental changes in its structure and design as compared to its previous version.
The main change is that Ethereum 2.0 uses proof of stake (PoS) while Ethereum uses proof of work (PoW) mechanism.
In simple terms, the proof of work mechanism is an energy-intensive process that requires powerful computing machines to solve complex mathematical problems.
On the other hand, the proof of stake mechanism is a more energy-efficient process that does not require high-power computers and can be done by most computers, even laptops.
Now, you can earn Ethereum by staking Ethereum 2.0. There are many risks and potential rewards in it, so use it at your own risk.
Each Eth 2.0 validator has to choose its specification to work with from five different teams that programmed Eth 2.0 in various languages.
Those specifications could have exploitable defects, regardless of how smoothly testing went throughout the second half of 2020. That can be the reason why staking rewards are so high.
Like staking in Ethereum, staking in Ethereum 2.0 also means your ether is locked up for months to years.
This brings many potential risks with it.
For example, if a major price drop down happens, you won’t be able to convert your Ethereum to cash or other coins. Thus, you will suffer a loss.
To wrap up, staking Ethereum 2.0 has great rewards and also potential risks, but without any doubt, it is one completely new legit way to earn Ethereum in 2021.
7. Airdrops and hard forks – Earn Ethereum If You are lucky enough
An ethereum airdrop is a marketing trick that involves sending ETH to wallet addresses to promote awareness of a new virtual currency.
Small amounts of the new virtual currency are sent to the wallets of active members of the blockchain community for free or in return for a small service.
In easy terms, an ethereum airdrop is a distribution of ETH for free to numerous wallet addresses.
The reason behind this is to take advantage of the network effect by engaging existing holders of ethereum in their currency or project.
An ethereum hard fork is a drastic change to a network’s protocol that makes previously invalid blocks and transactions valid, or vice-versa.
A hard fork requires all nodes or users to upgrade to the latest version of the protocol software.
In other words, hard forks are radical changes to the ethereum. They change the cryptocurrency’s protocol itself, rendering the older versions of that protocol invalid.
While airdrops and hard forks are nice surprises, they are not stable. You may get an airdrop or hard fork if you hold the currency and also have a little luck.
8) Make Ethereum DApps
Another way to earn ethereum is to make DApps. Ethereum has made the development of a completely new category of software possible. Ethereum’s core technology can be used to make so-called “smart contracts”, which can be used to build DApps (Decentralized Apps).
DApps have practically limitless applications and it’s your task to come up with an amazing idea that you can later monetize to earn Ethereum. The cool thing about DApps is that once they are set up properly, they can make you money day and night without any need for maintenance or supervision. This allows you to eventually build up a portfolio of DApps that provide you with a nice monthly passive income.
9. Investing in Ether
Although this option may seem obvious to earn ethereum, I thought it is a good idea to include it in this post along with some interesting facts. In 2016 alone, Ether increased in value by nearly 1.200%, and it is showing no signs of slowing down.
The creation of the Enterprise Ethereum Alliance in February has added a lot of credibility to the project and resulted in the price skyrocketing to new record highs. At the time I am writing this post the Ether price is around $3,715. Many members of the ETHtrader community on Reddit, expect Ethereum to hit 5,000 USD by the end of 2022. So there are still some profits to be made there.
While in most cases it’s not a good idea to do long-term price predictions, I do think that Ethereum might hit a market capitalization of 2 Trillion USD in the next 10 – 15 years. The current market cap is 442.32 Billion USD. That would mean that every 1.000 USD you invest in Ether today, would be worth 40.000 USD in a decade.
You can also play around with crypto trading bots. There are a lot of good ones which can help to increase your stake in ETH while you sleep.
As always, please do your own research. This is not investment advice.
7 Legit Ways To Earn Ethereum Online 2021 FAQs
How can I earn Ethereum Free?
The best way to earn Ethereum free is by faucets. In faucets, you will be paid Ethereum to answer surveys, watch videos, play games, and do other easy tasks. You can find a list of the best Ethereum faucets in this article.
How do I sell Ethereum for cash?
There are many ways. You can sell it on peer-to-peer crypto trading platforms for any kind of money you prefer (PayPal, Credit Card, Bank transfer, and more). You can also sell your Ethereum to exchanges like eToro.
Can I mine Ethereum on my phone?
Yes, you can. However, you must first see if it is profitable or not. You can mine using a mining app that automatically downloads pending transactions from the blockchain and puts your phone’s processor to work.
Can I mine Ethereum on my laptop?
If your laptop is powerful enough and has at least one GPU with at least 3GB of RAM, you can use it to mine Ethereum. However, you should know that mining makes your laptop degrade more and can damage it. So, first, check if it can be more profitable than loss-making.
How many Ethereum are left?
There is no limit to how much Ethereum can be mined. In other words, there is no cap to the Ethereum Blockchain. The Blockchain can continue at this pace forever.
What is ether?
Ether is a decentralized digital currency, also known as ETH. In addition to being a tradeable cryptocurrency, ether powers the Ethereum network by paying for transaction fees and computational services. Ether is paving the way for a more intelligent financial platform.
What is gas ?
Gas unit is the smallest type of work that is processed on Ethereum network. Validating and confirming transactions on the Ethereum blockchain requires a certain amount of gas depending on the size of each transaction. Gas measures the amount of work miners need to do in order to include transactions in a block.