Could These Be 3 Simple Ways To Earn With Cryptocurrency?

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

The popularity of cryptocurrencies over the past few years has lured many people into what is being called a 21st-century gold rush.

The many success stories have arguably instilled a curiosity about the potential of the crypto industry.

What Is Cryptocurrency?

Cryptocurrency, commonly known as crypto, is a virtual currency that uses cryptography to secure its transactions. Unlike fiat currencies, cryptos are not issued or controlled by any governing body; rather they use a decentralized system called blockchain to record transactions and issue new tokens.

Some of the trending cryptos are Bitcoin BTC/USD, Ethereum ETH/USD, Cardano ADA/USD and Dogecoin DOGE/USD.

Earning With Crypto?

When the first crypto, Bitcoin, was invented by Satoshi Nakamoto in 2008, the only way to earn money was by mining or receiving tokens from a colleague; however, now there are many more ways to make money with crypto, including staking, trading Application Programming Interface (API) and affiliate programs.

Staking is a way of validating crypto transactions by using tokens and coins locked in a crypto wallet. A proof-of-stake network uses the coins to validate transactions in the blockchain network, and there are rewards for doing so. In essence, staking is more like lending coins to the network and then being rewarded in return.

Staking allows the network to maintain its security and validate transactions. This process is considered to be significantly more energy-efficient than mining and does not require purchasing expensive hardware.

An API (application programming interface) is an interface between one computer and another that allows the computers to communicate with each other. A cryptocurrency exchange API acts as a bridge between the client and the broker so they can perform different functions, such as buying and selling crypto.

Trading APIs link the client’s account to the broker’s automated trading system so they can carry out trades quickly and effectively. They also allow the client to do algorithmic trading using a preconfigured set of rules (algorithms) to execute trades at high speeds.

Affiliate or referral programs are one of the popular ways to make money online. The idea behind them is simple: Promote offers and earn revenue. A personal referral link is shared, and when someone uses the link to join a website or buy a product, the owner of the link receives a commission. Crypto affiliate programs can help bring recurring revenue for months or even years.

CEX.IO is one of the companies in the crypto space that reports allowing its customers to use the three services to earn money.

CEX.IO 101

CEX.IO is a regulated and licensed global cryptocurrency exchange headquartered in London. The company enables its customers to buy, sell, trade, exchange, store, borrow and earn crypto using a mobile app, website, WebSocket (WS) and REST API. CEX.IO claims to be one of the first companies to make fiat-to-crypto transactions accessible by offering card payments and bank transfers to its clients.

Staking can be a complex process that requires a certain level of technical knowledge, but CEX.IO says it has a uniquely designed staking platform that makes it easier for users without much experience with crypto and blockchain technology to participate.

CEX.IO’s staking platform supports 14 cryptos, and the company says it is working on adding more. Payouts from staking are automatic so the user does not need to claim rewards. Rewards are calculated every hour and payouts are done every month. CEX.IO promises an annual percentage yield (APY) of up to 23% from its staking compared to other players in the field.

The company says its WS API allows users to perform multiple functions, including subscribing to order books, viewing open order requests and getting real-time market statistics and data. Using its REST API, users can get real-time price feeds, access multiple price charts and view trade history.

CEX.IO’s affiliate program is also open to all partners to make passive income. A partner earns 30% of the trading transaction commission from each referral indefinitely. There is no cap on the amount of referral rewards that can be earned. The company boasts that becoming a partner comes at low or no cost and there are no financial risks involved in promoting its exchange.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Photo by Kanchanara on Unsplash