Home Finance 4 Easy Methods to Earn Cryptocurrencies as a College Student

4 Easy Methods to Earn Cryptocurrencies as a College Student

by Nina Smith

Being a college student comes with many perks and many difficulties at the same time. First of all, it is probably the first time you have been away from home and living on your own. This on its own comes with quite a few challenges even without attending so many classes and studying for your exams. However, it is also the most exciting part of your life because you still have the luxury of time and finding who you are both as a person and as a working adult. Chances are you will know exactly what you want to do with your life by the time you graduate, and it does not mean it will follow your college career path.

With this being said, we must also mention that your college years are a nice time to have a part-time job. In the modern times, part-time jobs can be basically whatever you want. We live in the age of technology and information meaning that you can use your computer and gadget prowess and have quite a salary during your studies. College students famously lack the money they need both for academic purposes like expensive textbooks and various activates, and for private affairs. Therefore, finding the best job as you study is important.

Finally, to touch upon the topic of this article, we must determine how viable a career in cryptocurrencies is during the college years. Digital currencies are here to stay, that much is certain, and everyone is left to find their own way towards a more prosperous future in which they will be a part of their portfolio. Keep reading the article to learn about the easiest methods to earn cryptos as a college student and make sure to visit safex.org for more information.

Setting Things Up

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Before you can actually start to obtain the crypto and have a side hustle as you study, you must know how to set everything up and prepare for a career in digital currency. First things first, you will need a separate email address you will only use for cryptos. This ensures more security. When you crate it, use it to open an account on one of the top crypto exchanges. These are services that will allow you to learn all there is about trading, buying, and selling currencies, as well as help you with advice, news, and getting in touch with other investors and traders. The exchange comes alongside an electric wallet in most cases, the place where you will store and securely keep your balance. Last thing you will need is a phone app which helps with reacting quickly to market changes like jumps and drops in value.

How to Earn Crypto as a College Student

There are several viable options through which you can earn digital currencies of all sorts while you study and we will explore them in the next section.

1. Buying them with Real Money

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This is not exactly something you did not know on your own, but bear with us. Straight up logging in and using your credit card or bank account to purchase some cryptocurrency is not at all strange or unorthodox. This is how most people nowadays buy their first amount of digital currencies since it is easy, quick, secure, and efficient. You have the option of buying however much you want, but make sure not to spend all of your money and having to go to bed hungry afterwards. Use only the money you can afford to part with in order not to endanger your livelihood.

2. Mining

Mining of bitcoin and other cryptos is not that profitable as it once was. Back in the day anyone could use their personal computer and mine for new cryptos. Nowadays however, miners are rewarded with less and less for their work while the prices of the currencies they get go up. Moreover, you need a stronger computer in terms of hardware components today to have enough computational power and speed to navigate the network and add to the blockchain. Modern mining is usually done by individuals and companies who can afford multiple graphics cards joint together into huge mining rigs that work around the clock.

They have to spend a lot of money on electricity in order to power them, as well as cool them any way they can. You could be mining if you have a high-end PC you also use for gaming as such, but the return will be slow and painstaking. If you have likeminded friends, you could come up with a solution and pair up your GPUs into a rig and reap the benefits. It is doable of course especially considering how much time you have on your hands.

3. Trading

In order to trade cryptos and earn more, you have to have a certain balance already. If you somehow already have assets to your name that you can trade, which you can either through mining or buying, trading is the best way to obtain more right now. There are over 2,000 digital currencies out there and new ones are appearing all the time. With enough research and knowledge on your side you could guess which one are about to skyrocket in value and trade for them. Similarly, you can get rid of the ones that are doing poorly before they drop in value and have more assets to trade further. It is a challenging and often nerve-racking game to navigate and win at but people are doing it and so can you.

4. Accepting Payments

Last but not least, you can always use the skills you have and explore the freelancing waters. The key part here is to start accepting cryptocurrency as payment. A lot of students require tutoring for the harder subjects or other type of help on campus. If you are handy and know enough about something or better yet, how to make something, sell your skill or craft and obtain some crypto assets in return. It is great option to spread the word about what you can help with as well as to let the people know you are one of the still-rare people who decided to accept digital currency in return for services or products.