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🤑 Alternatives with Blockchain seal to generate income in times of Coronavirus 🦠
The general confinement due to the coronavirus crisis forces the search for options to monetize time through the use of Blockchain and cryptocurrencies.
In difficult times due to the coronavirus pandemic , there are few solutions that we can consider to try to monetize our time and therefore recover the loss of economic resources due to the mandatory isolation to which millions of people around the planet are being subjected.
Given the loss of jobs due to the prohibition of mobility in areas considered not critical or indispensable by government bodies, there are alternatives to monetize our time directly, transparently without intermediaries from our home. You only need to have a telephone or computer with an Internet connection and a willingness to learn.
Although we are not focused on doing any type of advertising to any platform, our analysis focuses on the best returns both in time and money that allow us to obtain extra income in times of coronavirus.
The fundamental activities reside in staking, decentralized loans and gaming with Blockchain technology , among others, which depending on your time and investment capacity you can use to obtain passive income safely.
According to Binance Academy, staking "is a process by which funds deposited in a crypto wallet are kept in order to support the operations of a Blockchain network."
As indicated by the literary resource of the exchange, it is basically to keep a certain amount of cryptocurrencies locked in said deposit for a certain time defined by the user in order to receive rewards.
Its foundation resides in the consensus mechanism used by many altcoins called Proof of Stake ( PoS ) and it was created in 2012 with PeerCoin as the first use case to differentiate itself from the expensive mechanism that uses Bitcoin and the like with the Proof of Work ( PoW) mechanism. ).
To carry out staking, all you need to do is download a wallet that supports this financial activity on your smartphone or PC and choose the platform of your preference to ' bet ' your coins for a certain time and therefore receive a certain percentage as rewards support the Blockchain network in particular.
Staking is a very popular activity today and highly lucrative. It is analogous to the process of mining of Bitcoin , but without using sophisticated equipment or be consuming large amounts of kwh. The only thing necessary is a minimum investment capacity according to your aspirations to support the production of blocks from a wallet
According to Staking Rewards, the Staking market is on average about USD 9,659 million, this represents 5.05% of the total cryptocurrency market currently and the options are varied, with the set of altcoins under PoS dominating the scene with 14.54% .
Based on performance, minimum investment and payback time, there are some interesting projects to make your first foray into this decentralized finance model .
According to the previous graph, the cryptocurrencies COTI, BTMX, Energi and FLETA represent viable options due to the small difference between the profit percentages reported by Blockchain platforms and the adjusted value according to the StakingRewards.com study .
However, according to the percentage of blocked currencies, which is an important metric to consider, Tezos , Cosmos and BTMX are the most popular judging by the high level of stake in their Blockchain platforms.
The graphs above indicate in the order presented, the shortest payback time at the same time as the minimum amount of investment required to bet your coins.
According to the above, a COTI user needs to delegate 5000 coins (USD 98.2) at least to be able to participate in the staking of the platform and begin to obtain passive profits from their investment before the second year.
For their part, Tezos and Cosmos present the most unfavorable scenario under current prices to carry out a staking since the minimum investment exceeds one thousand dollars and according to the adjusted annual earnings, the ROI is in a decade.
In contrast, the most lucrative tokens with a minimum outlay go through BTMX, Fantom, FLETA and Matic Network , even though the return conditions are quite different between them.
For example, a user who wishes to participate without risking a lot of money to learn about the system, can bet on FLETA and get fully involved with the process before disbursing larger amounts without any knowledge.
Remember that the return times as well as the amounts for the minimum staking vary according to the price of the altcoin in the market, which in bullish times represent an excellent source of income .
With the advanced use of Blockchain platforms in the field of gambling and gaming , the options are varied to be able to interfere in this world of adventure and finance. The main difference compared to traditional games from large companies or consoles is that payments are direct without intermediaries.
The options are varied and the returns as well. But above all, what we must observe in a platform of this type is its liquidity. Therefore, the number of users, the ease of use and the minimum amount of input is very important.
Among the options we have Matic Network. Blockchain network with high scalability based on a layer 2 solution on Ethereum that has had a great growth in recent months, thanks to the trust that has inspired many developers and companies to generate decentralized applications focused mainly on gaming.
Of the most outstanding ones found on the Matic network we have Battle Racer , a kind of arcade-style racing game originally built in the virtual world Decentraland and now on a Matic sidechain.
Chainbreakers is another excellent game that also manages its NFT sales on Matic's sidechains. This Blockchain gaming franchise created by the webvr Qwellcode studio in 2018 during the ETHBuenos Aires, Argentina , is based on an rpg strategy.
Finally we have the option of Pocketful Quarters , a gaming platform that uses the native token as a universal cryptocurrency and that runs under the Matic network to guarantee instant and low-cost transactions in games such as Fortnite, PUBG, CSGO, Black OPS, battlefield. , among others.
Other excellent gaming titles with Blockchain technology can be found on the Tron network . According to DappReview , WINK is the Blockchain-based gaming platform with the best volume in thousands of dollars over the Justin Sun chain .
Formerly known as Tronbet, Wink has its native token on the Binance exchange and provides users with exciting games with high performance on the Tron network , where you can find everything from casinos to the popular Monopoly board game .
On the Ethereum chain we also find an excellent option for lovers of luck. Dice2win is a craps game with a house edge of less than 1 percent which makes it quite attractive and the best RNG in its class, with no registrations or deposits.
This Dapp focused on gambling , is the first in its class on Ethereum in terms of volume registered in the last 24 hours, with just over USD 230 million.
A highly respected and well-known game among cryptocurrency and Ethereum blockchain users is undoubtedly Gods Unchained . The popular NFT token-type card exchange game continues to gain traction among lovers of this type of application.
With more than nine thousand users to its name and weekly tournaments with very attractive prizes, Gods Unchained is one of the leaders of its kind. According to the website Dapp.com , this game has a balance in its smart contracts in the order of USD 413,280.
The decentralized finance better known as De-Fi has had a maximum climax this year with the increasing use of decentralized applications focused on the collateral loan of users who own cryptocurrencies for fiat money, without the need to lose their crypto holdings.
In essence, that is decentralized lending on Blockchain platforms, which have their major focus on the Ethereum blockchain for their operation. Cases like DDEX, dYdX and MakerDao are the successful examples of this type of systems with high daily volumes in thousands of dollars.
Each of these portals allows users to interact with permissionless smart contracts that feed the credit system. Thus they can borrow the stable currency they want such as Dai or USDC, blocking the amount of ETH available by the application in a collateral vault.
Under the basic principles of loan economics where liquidity plays an important role, the stability of the deposit guarantee is ensured by the payment of corresponding fees in stable currency.
According to defiprime data, the DeFi platforms and protocols for loans with cryptocurrencies allow a profit rate between 1.66% and 0.92% for the cases of DAI and USDC respectively.
Although trading is one of the first activities involved with cryptocurrencies, due to its high risk and volatility it is reserved for a select group of amateurs and experts on the subject who have various options in the market to multiply their income.
For this reason, we will focus on other types of income that, although they are temporary, do not fall badly if luck is with you.
They are crypto gifts that have their origin in the media ICOs of 2018, when projects such as OmiseGo , Tron and Stellar distributed 'airdrops' of their tokens in a wide network of Blockchain enthusiasts as a marketing technique .
At first, airdrops occurred spontaneously.However, today some simple tasks are required by the official social networks of the project in exchange for giving away a specific amount of tokens. The most common are Twitter and Telegram .
However, you have to know how to differentiate very well from this type of campaign, since many of them lend themselves to scam. That is why the recommendation follow the campaigns of projects or consolidated personalities.
They are jobs, tasks or campaigns that a user must complete to obtain the native token of the Blockchain platform in question. Tasks rarely involve any advanced coding knowledge and the work done by the interested user helps the project with marketing, brand recognition, exposure and quality of the project.
Tasks generally include translations, rewards for finding errors on the platform, written content, social media campaigns , etc.
The vast majority require the user to be registered on platforms such as BitcoinTalk in order to participate and report their specific jobs to be a creditor of the stipulated rewards.
One way to earn income on a regular basis during these free times due to isolation due to the coronavirus is to generate quality content on platforms dedicated to monetizing your content.
The options are varied and platforms such as Pepo, Steemit , Cent, Honest.Cash, Voice, SocialX, Memo and Publish0x are some options to receive 'tips' in cryptocurrencies for the content uploaded to these platforms.
It is worth noting that the contents can be written or audiovisual, respecting the rules of each of these platforms and the amounts to be earned depend on the feedback you have within the community.
Most of these platforms establish a win-win reward system, where you can receive cryptocurrencies not only for uploading content, but also for sending 'tips' to other users for their work done.
A curious fact highlights Wallet Street of FLETA Blockchain, which has launched a sort of social network focused on cryptographic assets that each user has. Thus, a Binance trader for example can safely build buildings based on the size of their assets within the exchange, and at the same time earn tokens while sharing with other users within the platform, their knowledge about specific assets of mutual interest.