How to Earn Ethereum 2.0

Ethereum comfortably enjoys its status as the world’s second-largest cryptocurrency by market cap. With this popularity, opportunities for everyday users to earn its native currency, Ether, continue to rise. In fact, as Ethertheum marches towards its long-awaited ETH 2.0 merge, there are more opportunities than ever to easily earn Ether. This guide covers the best ways to do so, along with each method’s pros and cons.

Earning Ether by completing tasks

One way to earn ETH is to take part in online platforms that reward users with Ether whenever they complete simple tasks. These sites go by many names, though they are often referred to as Ethereum faucets.

On these sites, you’ll be tasked with completing everything from captcha codes to online surveys and will be paid out a small amount of Ether for each task that you complete. The biggest pro of this method is that it requires no set up at all and there are no barriers to entry. The tasks you’ll need to complete are extremely simple, and you can find a wealth of legible sites by simply searching “Ethereum faucet” and researching the platform that appeals most to you.

The biggest downside to this method, however, is that your earning potential is extremely limited. In the majority of cases, those who run these platforms earn the lionshare of the money. Ordinary users, on the other hand, are limited when it comes to the amount that they can earn. Further, some sites place a minimum on the amount required in order to cash out, meaning it may take you a long time to see any financial benefit from your efforts. Finally, during times when Ethereum’s gas prices are particularly exorbitant, the amount that you’re earning can be eaten up by transaction fees.

Earn interest by lending Ether

If you’re looking to earn a lot more Ether, a better option may be to find a custodial service that allows you to earn interest on your holdings. These platforms can either be centralized or decentralized, and allow you to loan a portion of your ETH. While doing so, you’ll be compensated in the form of interest, which is usually determined as a percentage of the amount that you are locking into the platform.

Different custodial platforms offer different rates, which can fluctuate over time. As a result, it is important to thoroughly research the platforms that are available in your location so that you can find a competitive rate offered by a trustworthy platform with a strong reputation.

The upside to this method is that it allows you to earn ETH in a way that is entirely passive. Once you’ve done the initial research to find a platform that suits your needs, there is nothing else that you’ll need to do after locking away as much Ether as you desire.

The downside here, however, is that not all custodial platforms are equally reputable. This means that it is crucial to do thorough research when opting for a centralized platform. When it comes to decentralized platforms, on the other hand, it is important to keep in mind that they may not be as user friendly which could lead to costly user error. Another con when it comes to this method is that you’ll need to already have a substantial amount of ETH that you’re willing to lock away over a fixed period of time in order to see a significant return.

Getting paid in Ether

As a result of Ethereum’s increased adoption and rising popularity over the last few years, there are now numerous options when it comes to getting paid some — or all — of your salary in Ether. You can even directly ask your boss if they’re willing to pay you in ETH and help them set up a wallet if they’re not sure how to do so.

Otherwise, there are now many online boards that allow you to find jobs that specifically pay in ETH. Sites like Ethlance.com and CryptoCurrencyJobs.co are two popular options for people who want to go down this route. Here, you’ll find options to either get paid your entire salary in ETH or simply pick up some extra work that pays in Ether.

The pro to using this method is that it allows you to earn additional income, either through picking up extra jobs or by having a portion of your salary arrive in the form of an asset that could rise in value as we move towards the ETH 2.0 merge.

The con, however, is that this is the exact opposite of passive income. Rather than earning free ETH, you’ll be left working hard for it. Further, there are a few regions where it has not yet become legal for employees to be paid in crypto — meaning you’ll need to look into your local laws before pursuing this method.

Staking ETH 2.0: the best way to consistently earn passive income

Far and away the option of choice when it comes to earning Ether is to stake ETH 2.0. Staking is the process in which ordinary users lock up a portion of their holdings in order to prove that they have a stake in the network. They then allow their device to serve as a validator to automatically verify network transactions.

This method is effective and reliable as, once you’ve set up your validator, you’ll consistently earn a significant return on investment for as long as your device stays active. This makes staking ETH 2.0 an incredibly powerful way to earn free passive income in the form of one of the world’s most popular assets.

Another massive pro to using this method is that the ongoing transition towards Ethereum 2.0 is likely to increase the demand for validators and ensure that users who are quick to get started will benefit most from significant earning opportunities. In addition, this method benefits both the user who is staking and the network as a whole, as validators play a vital role in keeping the Ethereum network healthy and decentralized.

The only major downside when it comes to staking ETH 2.0 is that the setup process can be extremely daunting for new users. This is because it requires a great deal of technical knowledge and patience if you’re doing it on your own. In addition, unless you have a dedicated staking device, your earning potential can be negatively impacted by your device not being consistently connected to the Ethereum network.

How to stake Ether — without any of the downsides

Fortunately, if you have decided to earn passive income by staking ETH 2.0, there is a way to enjoy the numerous benefits of leveraging this income stream without having to deal with a difficult installation process or unreliable equipment.

That’s because AVADO produces a range of powerful plug-and-play blockchain devices that are ready to go in just a few minutes. They’re catered to people of all backgrounds and technical proficiency, meaning that virtually anyone can start earning free Ether through ETH 2.0 staking without having to know anything about blockchain technology or how to set up a validator.

In addition, AVADO’s range of devices cater to a variety of different types of users. If you’d like to maximize your earning potential and/or stake multiple blockchains at the same time, AVADO’s i7–864 allows you to do so and ensures that your device is future-proof and won’t have to be upgraded any time in the foreseeable future. Otherwise, AVADO’s guide to choosing the right device offers insight into which plug-and-play blockchain option would be best for your specific needs.

Overall, all of AVADO’s products offer the ability to enjoy the significant passive income earning that only comes from staking — without having to endure the technological barriers to entry that have long prevented everyday users from accessing their full earning potential.

Find out more and order your AVADO device today.