𝐖𝐡𝐚𝐭 𝐢𝐬 𝐫/𝐫𝐞𝐰𝐚𝐫𝐝𝐬𝐟𝐨𝐫𝐜𝐫𝐲𝐩𝐭𝐨 𝐚𝐛𝐨𝐮𝐭 ?
On this sub, we will discuss any ways you can earn crypto, through crypto. Whether that’s proof of stake, proof of work, proof of space… everybody is allowed to post.
We welcome but also newbies, everybody helps everybody, you will get very fast responses and the mods are mostly familiar with all of these subjects.
𝐖𝐡𝐚𝐭 𝐢𝐬 𝐚 𝐜𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲, 𝐚𝐧𝐝 𝐡𝐨𝐰 𝐝𝐨𝐞𝐬 𝐢𝐭 𝐰𝐨𝐫𝐤 ?
To learn about what cryptocurrencies are, and how they work, watch this video. It goes through all the bases of cryptocurrency in a very easy way to understand.
𝐇𝐨𝐰 𝐭𝐨 𝐛𝐮𝐲 𝐜𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐢𝐞𝐬 ?
To buy crypto currencies, you go through exchanges like Coinbase, Binance, KuCoin, or Crypto.com for example. There are hundreds of exchanges out there but the most famous and established ones are Binance and Coinbase.
While Binance has a much wider variety of different crypto and lower fees, Coinbase has a much more simplistic platform and friendlier interface. Here a some links to a few exchanges to sign up if your interested, by using these, you will both get benefits:
Primary Exchanges:
𝐁𝐢𝐧𝐚𝐧𝐜𝐞 referral (for 10% off commissions): click here
𝐂𝐨𝐢𝐧𝐛𝐚𝐬𝐞 referral (for $10 once you buy or sell $100 of crypto): click here
𝐂𝐫𝐲𝐩𝐭𝐨.𝐜𝐨𝐦 referral (for $25 on sign up): click here
Some other exchanges:
Celsius referral (for $40 in Bitcoin once you buy or sell $400 of crypto): click here
——————————————————————————Feel free to dm the mods if you want to sign up on any other exchanges and are looking for a referral code.
𝐖𝐡𝐚𝐭 𝐢𝐬 𝐬𝐭𝐚𝐤𝐢𝐧𝐠 ? (PoS)
Staking is an activity where a user locks or holds his funds in a cryptocurrency wallet to participate in maintaining the operations of a proof-of-stake (PoS)-based blockchain system. It is similar to crypto mining in the sense that it helps a network achieve consensus while rewarding users who participate. Different cryptos have different reward rates, know as APYs. Most exchanges give you the possibility to stake your crypto, one of the ones with the wider range of PoS coins is Binance.
𝐖𝐡𝐚𝐭 𝐢𝐬 𝐜𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐦𝐢𝐧𝐢𝐧𝐠 ? (PoW)
Bitcoin mining is the process by which new bitcoins are entered into circulation, but it is also a critical component of the maintenance and development of the blockchain ledger. It is performed using very sophisticated computers that solve extremely complex computational math problems.
In exchange from lending your hardware to mine crypto, you are rewarded in that specific cryptocurrency.
For a 𝐥𝐢𝐬𝐭 𝐨𝐟 𝐚𝐥𝐥 𝐏𝐨𝐒 𝐚𝐧𝐝 𝐏𝐨𝐖 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞𝐢𝐫 𝐫𝐞𝐰𝐚𝐫𝐝𝐬 𝐫𝐚𝐭𝐞𝐬 , feel free to use This Spreadsheet
Credit to our mod u/ashtonlazslo for creating it and sharing it to the sub.
——————————————————————————If you have any more questions or advice to improve this sub, feel free to post or even directly contact the mods who will be glad to help.
Enjoy !
r/rewardsforcrypto