Ethereum (ETH) is undoubtedly one of the best innovations in the recent past. Until recently, building blockchain applications required a complex background in coding. Thanks to Ethereum, developers are now able to build and deploy decentralized applications fairly easily. In simple terms, Ethereum is a software platform based on blockchain technology that provides all the tools needed to build decentralized applications.
Ethereum (ETH) has the potential to be the number 1 cryptocurrency. There is absolutely no doubt that this coin is going to gain in value in the future. You can take part in this revolution by owning some Ethereum. However, there are many ways to earn Ethereum. While mining is one of the main ways to own Ethereum, this article is focused on other ways of owning it. Here are the best ways to earn Ethereum (ETH) without mining:
1. Buy Ethereum with Fiat
The quickest and easiest way to own Ethereum without mining is to buy Ethereum. These are some of the best exchanges to buy Ethereum with fiat:
Binance is arguably the most popular cryptocurrency exchange. It is popular for its very low trading fees. This exchange now allows buying cryptocurrency with a credit/debit card. Ethereum is one of their supported coins. Binance is partnered with Simplex and Indacoin to allow debit/credit card purchases.
In terms of fees, they only charge 3.5% per transaction. The fee is quite low compared to other exchanges. When you buy Ethereum or other cryptocurrencies, it is delivered to you within 10 – 30 minutes.
However, it is mandatory to verify identity before making credit/debit card purchases. You are required to provide a photo of your government ID among other details. If privacy is of big importance, ditch this exchange. There are few other ways to buy Ethereum without providing these details.
It is worth mentioning that, identity verification is only a requirement when buying cryptocurrency with fiat. For crypto to crypto transactions, ID is not a requirement. Their basic level allows up to 2 BTC of transactions every 24 hours, without providing any ID. This means you can convert any cryptocurrency to Ethereum easily.
This exchange is the best if you want to buy Ethereum anonymously. Unlike other exchanges, LocalCryptos is a peer-to-peer exchange. You buy and sell Ethereum directly from other users. What is nice about LocalCryptos is that it supports multiple payment methods. You can buy Ethereum with credit cards, PayPal, bank transfer, cash, international wire, gift cards, etc.
LocalCryptos takes no fee from the buyer. No fee does not always mean it is cheap to buy. The seller of Ethereum usually marks up the price of Ethereum to profit from the transaction. It is important to check the market price of Ethereum before you proceed with a buy order.
One negative aspect of LocalCryptos is its long delivery times. This is because the seller has to manually verify the payment you have sent. Depending on the payment method and the seller, it can take some time before Ethereum is delivered to your wallet.
Changelly is another exchange that supports crypto to crypto and fiat to crypto transactions. It is one of the few exchanges that support anonymous transactions and also has quick delivery times. The only reason Changelly is third on our list is its high transaction fees.
The fee is quite low for crypto to crypto transactions at 0.5% of the transaction amount. But, the fee for fiat to crypto transactions can be high as 10%. Using Changelly, you can buy Ethereum with credit/debit cards or exchange other cryptocurrencies to Ethereum. Check out Changelly here.
2. Cloud Mine Ethereum
Cloud mining Ethereum is another way to earn Ethereum without mining. If you cannot afford expensive ASICs or don’t have the technical skills to set up a mining rig, cloud mining can be an easy way to get into mining.
You are essentially utilizing a remote data-center with shared processing power to mine Ethereum. Services like Genesis-Mining, Hashflare, and Eobot makes it extremely easy for you to start cloud mining. There are no software or hardware configurations needed by your end. All you have to do is buy a contract from one of these services and set up your Ethereum wallet address. Your Ethereum mining rewards will be sent automatically to your wallet or make manual withdrawals to your wallet.
The best thing about these services is that you can start cloud mining with very low investment. Although cloud mining can be attractive, there are few things you need to be aware of. Almost every cloud mining service charges you a fee. It can take the form of service fees, maintenance fees or electricity fees. Cloud mining is never free. If you ever find free cloud mining services, it is likely to be a scam.
3. Ethereum Faucets
The third way to earn Ethereum (ETH) without mining is to do Ethereum faucets. Ethereum faucets reward you tiny amounts of Ethereum in exchange for filling captchas and completing small tasks. The only investment by your side is your time. Owners of these faucet sites also earn their share of money when you interact with ads. These are some of the best Ethereum faucets:
4. Freelance work for Ethereum
Doing freelance work is another way to earn Ethereum without mining. Platforms like Ethlance put freelancers and employers together. As a freelancer, you get paid in Ethereum for work you do. Ethlance is utilizing the Ethereum blockchain to distribute its database. There is no central authority that has control over it. You can find work in various fields like writing, translation, data science, design, and etc. Check out Ethlance here.
5. Ethereum Affiliate Programs
Another way to earn Ethereum without mining is to become an affiliate. There are so many services that reward you in cryptocurrency for sending customers to their service. These services provide you with a referral/affiliate link when you sign up to the service. All you have to do is advertise this link on your website or various other means.
When someone signs up using your link and use the service, you earn a commission. Depending on the type of service, your commission can be in the form of cryptocurrency, hash power, advertising space, etc.
You are not essentially earning Ethereum as rewards unless it is an Ethereum affiliate program. LocalCryptos is one of the best Ethereum affiliate programs. But, if you receive affiliate commission in other cryptocurrencies, you can easily convert it to Ethereum. Check out the full list of cryptocurrency affiliate programs.
The easiest and the most guaranteed way to earn Ethereum without mining is to buy Ethereum from an exchange. You can also utilize cloud mining services, Ethereum faucets, freelance networks, and affiliate programs to obtain Ethereum.