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How To Earn Cryptocurrency On Your Smartphone
The birth of Bitcoin in 2008 has seen a spectacular rise in value, up over 9 million % to make it the best performing asset of the last decade. Its rise in use and popularity has sparked a new gold rush in the blockchain and distrubted ledger space with many pegging it as a second dot com boom and the rise of web 3.0.
If there is one piece of technology that has been even more popular than Bitcoin, then it would have to be the Smartphone. The cost to have a personal computer in your pocket has dropped as time has gone by, and it becomes far more accessible to access a cheap smartphone in many parts of the world.
It was only a matter of time before these two popular technologies would begin to merge, and in 2020 and going forward there are going to be more ways crypto and mobile apps and devices start to combine. If you're interested in using your mobile device to start earning cryptocurrency like Bitcoin and various altcoins, then check out our list of apps you can download today that will net you crypto in a range of ways
1. Fitness apps
As Smartphones and wearable technology started to pick up, fitness apps have used as a platform to build their new business models on top of it. Apps like MyFitnessPal, Nike+ and of course the now Google-owned FitBit have been the outright winners in the space, and yet new fitness apps are still consistently lanching as consumer appetite improves. The premise of fitness apps are simple, track your movements, provide proof, and in the case of cryptocurrency fitness apps, you can get rewards.
Blockchain-based fitness apps or rather dApps as they like to be known as are still in its infancy and trying to make inroads in a competitive niche as I mentioned earlier. To try and get customers to opt-in or move over, these apps are offering enticing incentives. Since these apps user bases are still small, new users can score big on rewards for being the early adopters.
2. Photosharing apps
Tumblr and Flickr pioneered the image sharing frenzy on the internet in its modern form. Instagram came along and wrapped the entire experience into an easy to use mobile experience, and people loved it. Its success would naturally inspire derivative work in the blockchain space, and we're now seeing blockchain photo-sharing apps like Appics, Mithril and Steepshot all competiting to the Instagram of blockchain.
If you are in Instagrammer you'll feel right at home here with these simple interfaces and copying what you do on Instagram to these platforms will get you a few tokens thrown your way as a thank you
3. Web Browsers
Browsing the web on your mobile phone has to be one of the most popular actions on a mobile device. We spend so much time either using Chome on your Android device or Safari on iOS but did you know you could switch out your browser for something that pays you to browse? Well, it's not a theory its here, and people all over the world are starting to take note.
Chrome is built on an open-source technology known as Chromium which anyone can use as a base for their project, and two blockchain projects have taken the opportunity to do just that. Brave Browser & CryptoTab both launching desktop and mobile browser options where users can earn cryptocurrency.
- The brave browser blocks all ads, and as a user, you can enable its native ad serving platform that pays you to teach time you click on an ad.
- The Cryptotab browser goes about it a little differently. It uses cryptojacking to take some of your phone's resources attached to your browser and use that to mine cryptocurrency and reward you in Bitcoin.
While these methods of reward are pretty different, they both rely on the premise that the more you browse, the more you are likely to earn. So if you are an internet addict, what do you have to lose?
4. Investment apps
As investment apps and De-FI start to gain popularity with the birth of private finance and private non-custodial ownership, we see a range of financial products launch in the De-Fi and Faux De-Fi space. Crypto finance apps like Nexo, BlockFi, Celsius Network and Crypto.com are leading the way when it comes to leveraging your crypto assets and earning a passive income.
These apps allow you to deposit your cryptocurrency or digital fiat, like USDT into their accounts and they will hold it for you similar to what a bank would do and pay you interest on your capital.
You can manage your capital in the app, take out a loan, send money to others or spend money on goods and services and even get cashback rewards in some instances.
Note: In most of these cases, these companies hold your crypto as a custodian, and you do not have the private key access to your funds.
5. Hot Wallets
If you don't feel you want to trust a 3rd party with your cryptocurrency, but you're still looking for ways to earn a passive income then staking your coins on a particular blockchain is a great way to to go. Hot wallets like Atomic wallet offer users just that, you can hold the private keys to your funds when you download and install this app.
A hot wallet gives you full ownership of your funds. It is a great way to temporarily store cryptocurrency if you're going to use it regularly or want to earn an extra income but have the security that your currency stays with you.
In the case of Atomic Wallet, all you would need to do is download and install the app from the app store for your preferred device. Once installed, save your private keys somewhere safe and set up your wallet. Then you upload your currency of choice to the app, you can then stake it through the app and earn a return on your altcoin for supporting a particular network.
6. Mobile mining
In what seems like a distant memory now, mining used to be variable for the average person; you could set up a computer or rig in your home and mine Bitcoin or altcoins without the need for joining mining pools or competiting with mining companies. As Bitcoin and other proof of work altcoins began to gain in popularity, so did the competition for mining and the difficulty of ming a currency.
Various altcoins are trying different versions of proof of work, and Electroneum is one of them, which allows you to mine their currency in a mobile app you can download on your smartphone. Install the app on your phone, let it test your device speed and set up the mining and let it run in the background earning you currency without the need to intervene. You will need to have the phone on and connected to the internet at all times if you want to continue mining with this method.
7. Mobile gaming
Gaming has always had some in-game currency and reward system that encourages users to keep playing. New blockchain games are launching every day with popular games like EOS Knights, Decentraland and Cryptokitties taking up a lot of the headlines. One game that has had reasonable success and offers a mobile-friendly experience is the game known as Splinterlands (previously known as Steem Monsters), a card collection game built on the HIVE blockchain that allows you to win cards, trade them, sell them and build up a deck to battles players from all over the world.
Each match you win earns you a small amount of cryptocurrency called Dark energy crystals or DEC, which can be traded for Bitcoin and other cryptocurrencies or used to buy cards and in-game upgrades. The better you get at the game, the more DEC you can earn.
The game also has weekly, monthly and daily tournaments for you to enter and win even more crypto, the more you play.
Faucets were one of the first use cases for distributing Bitcoin and other altcoins when they started to gain in popularity. Mostly you log in to these sites each day and claim a small amount of cryptocurrency and add it to your wallet. The more advanced faucets, however, have started to gamify the process adding pay to click ads, reward surveys and much more to their service to try and keep users on their app and site longer.
A faucet that is fully supported with a mobile app is Cointiply which you can try out for free on your mobile device and start earning cryptocurrency for microtasks.
Earning crypto on the go
There you have it; you can now turn your Smartphone not only into a bank but into a way to earn an income actively or passively. In a world where technology is starting to give us more ways to earn outside traditional trading hours for work, exploring opportunities like these can help put you ahead of a learning curve that will soon become the norm.
As mobile devices continue to improve, as mobile data and coverage continue to get better, and as cryptocurrency continues to gain popularity and adoption, these three growth trends will merge to drive a new wave of mobile phone income opportunities.
Have you been earning crypto on your mobile device? How has it worked out for you so far? What option has been your favourite? Do you know of any other methods of earning cryptocurrency with your Smartphone?
Please let us know in the comments section down below.
If you would like to know more about digital assets or would like to market your digital asset company or how to set it up for your business, then don’t be shy we’re happy to assist. Simply contact us
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If you require a more detailed guide on how to create your profile or your listing, then we highly recommend you check out the following articles.
If you enjoyed this post and have a little extra time to dive deeper down the rabbit hole, why not check out the following posts on cryptocurrency and blockchain.
- Why Blockchain and Cryptocurrency Is The Future Of Money
- 24 Ways To Earn Cryptocurrency
- How To Pay Tax On Cryptocurrency In South Africa
- How To Buy Bitcoin In South Africa
- Why Does Your Bitcoin Wallet Address Keep Changing?
- How To Make A Private Bitcoin Transaction
Disclaimer: This article should not be taken as, and is not intended to provide any investment advice and is for educational purposes only. As of the time posting the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency as all investments contain risk.