As more and more money flows into the cryptocurrency markets, a belief has emerged that to have a worthwhile and profitable interaction with cryptocurrency, a sizable initial investment must be made. For potential supporters without the financial means to do so, it may appear as if their window of opportunity has already passed.
Years ago, the approach to cryptocurrency was completely different. A significant portion of individuals supporting Bitcoin and other currencies did not invest their own money. Of those who did make a financial investment to accumulate coins, many purchased less than US$100 of cryptocurrency. Rather than investing money, these individuals invested their time, enthusiasm, and skills to increase their holdings, through a number of opportunities. While this approach is no longer as popular as it was then, those opportunities still exist, and many new ones have emerged. Here are three approaches to getting involved in the absence of a monetary investment:
Participate on the Bitcointalk Forum
The Bitcointalk forum represents the largest and most popular platform to discuss everything cryptocurrency. By interacting with others on this site, you can be compensated in numerous ways. The simplest and most inclusive method of earning coins is simply to participate in giveaways. These giveaways come in a variety of forms, from new casinos offering credits to new users, to airdrops rewarding thousands of individuals just for showing interest in their coin. Occasionally, new and old members alike will pay their fortunes forward by tipping coins to any and all users of the forums.
Beyond this, forum users can earn huge sums from selling their signature space to operations called signature campaigns. With signature campaigns, a company or project will pay participants in Bitcoin or other currencies for every post they make on the forums with the corresponding advertisement displayed in that user’s signature. With activity and age, your account will mature to higher ranks at which these campaigns pay significantly more. Legendary Members, the highest rank below staff and donator, can earn tens of thousands of dollars a year just for placing an ad in their signature while they communicate on the forum.
Work for Cryptocurrency
From blockchain startups, to upcoming ICOs, to crypto news sites, everyone needs freelance work. If you can code, write, or translate, there are ample opportunities to be handsomely compensated in cryptocurrency for freelance work. Bitwage, which allows independent contractors to invoice employers in whatever currencies and percentages they choose, recently created a jobs page to connect workers with employers. Another popular place to find work and hire workers is /r/Jobs4Bitcoins.
Beyond freelance work, there is a huge demand for full-time workers in the industry. As the price of Bitcoin has skyrocketed, so has the demand for blockchain experts. On LinkedIn, the amount of Bitcoin and blockchain-related job listings is growing faster than any other field. From customer service representatives to senior developers, all levels of skill are in demand, and most of these roles offer the option to be paid, at least partially, in cryptocurrency.
Claim Bounty Rewards
Working towards bounties falls somewhere between forum participation and freelance work. Bounty programs are typically administered by upcoming ICOs, and pay you a predetermined number of the ICO’s tokens or a percentage of all tokens sold in exchange for completing a variety of tasks. Bounty participants can be rewarded for translating threads, identifying bugs or errors, or interacting with social media accounts. Some ICOs will also host signature campaigns under bounty programs.
Beyond ICOs, there are a number of coins that offer bounties to developers. This approach is typically employed by older coins that were not launched via an ICO and do not have development funds, or even a formal team, to oversee progress. In this arrangement, supporters of the coin will often donate part of their holdings to a fund that will be paid out to the responsible developer once a particular feature is implemented.
Clearly, there are vast opportunities for passionate and skilled individuals to meaningfully involve themselves with cryptocurrency without having to make a financial investment. For savvy supporters, the use of their time is very rewarding indeed.