Discover Crypto During Lockdown (+ earn Passive Income!)02.02.2021, 15:32
Times are hard as Covid-19 continues to circulate through 2021, affecting the economy, and affecting people’s jobs and income streams.
Here at GrabFreeMoney we do what we can to help people make money. You can do that on our website by signing up for your own dashboard and regularly completing our range of mini-tasks (watching ads, completing simple surveys etc.)
These all add up as points you can swap when you’re ready, for a host of mainstream vouchers or gift cards . This includes Bitcoin and Ethereum, the leading cryptos.
Cryptocurrency is all the rage right now, and we thought we’d provide a quick overview of some ways to get started and exploring passive income-earning opportunities.
Binance Website and Binance Blockchain
It’s very worthwhile learning how to get your own crypto wallet, via a simple browser extension. We recommend MetaMask wallet, since it’s the most versatile. But you’ll also need to send some crypto to it.
1.First, you’ll need an account with one of the leading ‘crypto-banks’ which make it easy to buy and sell crypto. You can use Coinbase, Crypto.com, Bitpanda etc. but we recommend... Binance, the leading crypto exchange. Create an account there and buy some BNB, which is the Binance token used for transacting on its own blockchain! It can be a small process, creating a Binance account and verifying it, but it’s worthwhile. You will have access to a huge array of projects and passive earning options.
Bear in mind, although it’s an impressive portal to crypto, Binance is not where it’s all happening anymore. Things are also happening on the blockchain and on the Binance Smart Chain, a fast network, and your next level beyond just the Binance website. The BSC is also cheap to use in terms of transaction fees (which are paid for in BNB tokens).
2.To transact on this actual blockchain, you’ll need to create your own wallet for web3 transacting via a MetaMask browser extension + wallet. Note! Record your seed phrase or private key carefully offline on paper or somewhere secure offline.
3.Next, configure your new wallet extension for Binance Smart Chain, by following these instructions.
4.Finally, you can load up your new wallet by sending it some crypto from Binance (to your public address on MetaMask). Note: any crypto you transfer out of Binance and into your public address on MetaMask, needs to be ‘BSC’ or BEP-20 tokens.
5.Check your wallet, and wait for the crypto or BNB token to arrive there!
Now you’re ready to visit a range of exciting web3 projects including… PancakeSwap.finance.
You can visit PancakeSwap, and log-in there, simply by connecting with your new wallet.
This site is one of the most interesting projects for passive income earning. It’s also where you can participate in liquidity mining: providing liquidity for tokens to be swapped, and earn rewards for doing so.
First, you’ll need to swap some BNB for $CAKE at its PancakeSwap exchange.
You can then earn more $CAKE simply by ‘staking’ it into the $CAKE pool, or earn new crypto tokens by ‘pooling’ them into other pools. You can also buy lottery tickets with $CAKE.
Boom! Now you’re earning crypto with crypto, and contributing to a new landscape of projects.
Hopefully this post has helped those new to Binance and its BSC blockchain, find their way into a larger world for money and value transfer, collecting tokens and investing, especially in these uncertain times. As ever with investing, patience and ‘hodling’ crypto is vital to success, to see assets mature and grow.
We’ll continue to scan for such projects which bring value to its members and readers. Be sure to stay tuned to GrabFreeMoney.com blog!
Disclaimer - Always do your own research. This is not professional financial advice so you invest at your own risk. There is always risk with early projects. The cryptocurrency market contains speculative and volatile projects so never invest more than you can expect or afford to lose.