How to Make Money Learning about Cryptocurrencies
Apart from buying cryptocurrency, there aren’t a lot of other ways to make money from cryptocurrency. Cryptocurrency mining, while lucrative for many, has many costs and risks associated with it that makes harder for new entrants into the cryptocurrency mining sector to make money from. Miners who pay the lowest amounts in electricity pay only about $0.03 per kWh. Miners in Washington State and parts of the European Alps are able to achieve such low costs through hydropower and other alternative sources of power. Operations in the Alps use natural cool air to cool their miners. Are there other ways to make money learning about cryptocurrencies?
Less Costly Ways of Earning Cryptocurrencies
Unfortunately, not everyone wants to move to the alps to generate income from cryptocurrencies. Miners in China pay around $0.04 per kWh to carry out their operations. In fact, few people really understand what steps need to be taken to mine cryptocurrency successfully. It is hard to make money from something that one does not understand a lot about.
One of the golden rules of investing is to invest in an enterprise you understand. In the blockchain industry, one’s risks can be substantially increased by a lack of understanding of the core foundational concepts that affect the markets.
With a blockchain e-learning platform, one can earn while they learn. Blockchain e-learning platforms are springing up with the promise of changing the way people perceive cryptocurrencies. Many platforms offer money in different forms — through non-fungible tokens, cryptocurrencies, and fiat- enabling knowledge acquisition among the mainstream.
More than ever, blockchain and cryptocurrency companies are driven to increase the mainstream adoption of their products. To do this, they have to make sure that awareness blockchain technology is high. While awareness of blockchain has increased over the years, a significant amount of people still do not understand the technology.
Funded cryptocurrency education offers an alternative to directly purchasing cryptocurrency. Instead of boiling the uncertain risk inherent in cryptocurrency investments as a beginner, one can slowly, over time, get to grips with the technology while getting what is essentially free money.
Coinbase Crypto Education
Coinbase is one of the businesses on a mission to expand people’s awareness of blockchain technology and cryptocurrencies. It is keen on making the technology more accessible with educational content.
With Coinbase Earn, people can earn while learning about cryptocurrencies. Coinbase hopes that, with time, it will be able to help more people understand the utility of the assets and their underlying technology.
A survey by Coinbase shows that many people have a strong desire to learn about cryptocurrency. People indicated a desire to learn about alternative coins, digital assets that are not bitcoin.
The content on the platform is publicly available for any parties curious to learn more about the asset. Even if you haven’t received an invite to earn from the platform, you can still use the content.
In contrast to buying or mining cryptocurrency, the startup costs to earn cryptocurrency through the platform is low. It takes a lot of time to understand how cryptocurrency works. Having an extra financial incentive to learn it can give one all the boost to soak up information at a faster rate.
“It has the potential to expand the blockchain user base from the tens of millions of people with the resources to mine or buy crypto to the billions of people who now have smartphones, Coinbase said. “This is because one can — in theory — earn crypto simply by clicking buttons on a phone or laptop.”
When an exchange offers people to learn about blockchain in exchange for cryptocurrency, they may not always offer education on cryptocurrencies beyond the scope of their personal interests. For this reason, it is important to also use education platforms that do not have direct relations with cryptocurrency exchanges.
Other Cryptocurrency Education Platforms
Other cryptocurrency education platforms exist which are independent of exchanges. Extra Credit is one of such platforms. The organization enables people from different industries to learn about cryptocurrencies.
Students on the platform have access to hours and hours of content on the cryptocurrency industry. More organizations plan to put diplomas on the blockchain, grades on the blockchain, and even working history on the blockchain. With a new layer of trust, more opportunities for business can occur.
With Token Tuber, users can get paid in cryptocurrencies for learning about different topics that may include the digital asset technology. Video creators on the platform can receive ⅓ of video value rewarded on a daily basis. Video value is calculated using the number of upvotes given to the video. In order to gain rewards, the video creator must claim a video.
Users on the platform are also able to earn money from the platform by making upvotes. The earlier they vote, the more digital tokens they can earn as rewards. Viral videos that have more upvotes pay out higher rewards.