How to earn Ethereum (ETH): ways to earn Ethereum without investment in 2022

Ethereum is a decentralized blockchain network and platform for creating Dapps applications that are managed by smart contracts. The internal currency is ETH (ether). In 2017, there was a peak in the popularity of ICOs that were held on the platform. At the same time, the project issued its own cryptocurrency, which is called ERC-20 tokens. Against this background, the cryptocurrency rate increased tenfold and exceeded $1,000 per 1 ETH. Early investors made a lot of money from the pump. In 2022, the rate is moving down with minor rebounds up, so those who short (sell) are already making money on Ethereum. In the article, the editors of Profinvestment.com reviewed the main ways to obtain Ethereum, including without investments.

How can you earn or receive Ethereum (ETH)

Current ways to get or earn Ethereum (ETH):

Trading on crypto exchanges. For example, Binance, EXMO, Currency.com, Bybit, Cex.io, FTX, Huobi, Crex24, etc. You can trade derivatives on the BitMEX crypto exchange. Maximum leverage is x50. Topping up your account balance is possible with Bitcoin (minimum amount - 0.0001 XBT).
On Ethereum faucets. This is an option to earn money without investment. On such sites you can get coins after a certain period of time for performing simple actions.
Mining. This is cryptocurrency mining using computing power. At the time of writing this review, Ethereum mining is not profitable at the current rate ($100). It makes sense to do it if you have access to free electricity and low equipment maintenance costs.
Long-term option (hodl) on how to make money on Ethereum: purchase ETH on an exchange or in a cryptocurrency exchanger, withdraw it to your wallet and wait for a new increase in value in the coming years. The market is cyclical, a fall will certainly be followed by growth.

Ethereum Growth Factors

Payments to miners who mine blocks will decrease. This will provoke an imbalance of supply and demand.
Cyber currency is switching to the PoS operating algorithm. It is considered more secure from attacks; provides additional proof of the coins' value.
Large US companies have connected to Ether and started using it as a means of payment.
Banks purchase ETH from exchanges. Analysts call it an attempt to invest capital with the prospect of further growth.
The system of “smart contracts” (smart contracts) allows you to conclude transactions directly. There is no need to involve financiers, analysts, or lawyers.

There are problems in the Asian region: the governments of South Korea, Japan, and China are either talking about a complete ban on anonymous transactions with cryptocurrencies, or hinting at new regulation. In 2016, there was a drop in quotes due to the appearance of Etherium Classik (ETC): a hard fork occurred.

Today you can store coins on an exchange or put them in a wallet. All that remains is to figure out how to quickly earn ethereum without investment (or with minimal investment).

Earn money on Ethereum faucet without investment

The most popular way for owners of the Ethereum cryptocurrency is to earn it through cryptocurrency faucets. The option will not require additional cash costs or investments. There is no risk of losing funds. The main thing is to find reliable faucets that pay and withdraw earned Ethereum.

Most online services pay Gwei, which is equal to 0.000000001 ETH. Withdrawal can be direct, to a specified Ethereum wallet address, or to the micropayment faucet FaucetPay. The second option is the most common, so before you start working with faucets, you should register and link your ETH address to faucethub.io.

Let's look at a few examples of making money on Ethereum faucets. We will provide instructions for working with them for the first one, since the actions are similar to the others. There are a lot of advertisements on the sites, but by displaying them you have the opportunity to get some free cryptocurrency.

Claimethfree. Fat faucet, you can earn up to 3000 GWEI or 0.0000003 Ethereum every 5 minutes. Payments are instant on FaucetHub. You need to indicate the address in the line and click the “Login” button below, and then “Continue”.

Next, go through the captcha and antibot (by clicking on the words in the correct order).

Click “Verify”. A new page will open, on which you again need to go through the captcha and click “Click here to continue.”

A countdown timer should appear. After the time has elapsed, the “Get Link” button will light up. You need to be careful, there are a lot of advertisements and left-handed links that you periodically click on.

If everything is done correctly, a notification will appear indicating the successful transfer of cryptocurrency to your Faucethub account.

Vivocoin faucet. Allows you to receive free cryptocurrency every 5 minutes. The amount depends on the exchange rate and is equivalent to $0.001. At the time of writing the review, the site was paying 896 Gwei or 0.000000896 ETH. Withdrawal automatically to the address linked to your Faucethub account (link above).
Allcoins is a multi-faucet for receiving Bitcoin, Ethereum, Litecoin, Dogecoin and other cryptocurrencies. You can request coins every 300 seconds or 5 minutes. Issues 0.00000157 ETH at a time. When withdrawing to a wallet, the minimum amount is 0.0036 ETH; via Faucethub - 0.00000002 ETH.
Faucetcrypto faucet. 28 cryptocurrencies are available, including Ethereum. To view the full list, select Cryptocurrency - List. You can earn every 10 minutes, amount 319–502 Gweis (0.000000319–0.000000502 ETH).

View the full list of Ethereum faucets

Affiliate programs with payment in ETH

Affiliate programs (“affiliate programs”) are a common type of online collaboration between those who want to promote their resource or product and those who can advertise it (recommend it), receiving a certain reward for this. One of the options for the affiliate program is the referral system described above, through which the user brings referrals and receives a percentage of the amount of their earnings.

“ Pure affiliate programs ” are based on the same principle, but are paid slightly differently. In addition, in the field of earning cryptocurrencies, there is another type of affiliate program - “ bounty ”, which involves the promotion of new ICO projects.

The main difference between a regular affiliate program and a bounty is the resources being promoted:

exchanges, faucets, gaming applications and all other services for earning Ethereum that want to attract new users to their sites work with affiliate programs;
bounty programs allow you to earn Ethers or tokens by popularizing a new ICO project without investing in it.

How to earn Ethereum by mining

In 2022, it is almost impossible to make money on Ethereum mining and become profitable. The reasons are the low rate of cryptocurrency. On November 26, it is at the $100 mark. But the situation can change at any moment, so you should find out how the coin mining process occurs. You can mine Ethereum on regular video cards (GPUs), so it won’t be difficult to figure it out.

Every 15 seconds, a new block appears on the Ethereum network, which includes the latest user transactions. The miner's reward for finding it is 3 ETH. When mining Ethereum, the hashing algorithm is Ethash. For mathematical calculations to find new blocks, you will need a good video card with a minimum amount of memory of 1 GB. We recommend using 2–4 GB or more. The resulting hashrate will be higher, as will the earnings. Research conducted by Ethereum developers has shown that more powerful video cards are based on AMD processors.

The first step towards mining is to download, install and configure software (Ethminer, Claymores dual, Geth, Parity, etc.). Only after completing this step will it be possible to interact with the network from the console and synchronize with the blockchain. For mining to be effective, you will need to select a pool (NiceHash, ETHpool, etc.).

To really make money on cryptocurrency, people create their own farms. They consist of several modern and powerful video cards that can easily be placed in the home and do not cause discomfort, since they do not require much space.

There are also cloud mining sites on the Internet. The advantages of this method include the fact that to earn money you will not need to purchase expensive equipment, because the percentage of income will directly depend only on the capacity purchased on existing servers.

More detailed information about the launch of mining can be found on the official website ethereum.org.

Ether Mining Equipment

At the beginning of the year, the payback for one video card was 200 days, but after the increase in the Ethereum rate, it was 3-4 months. Unfortunately, the growing popularity of mining has led to the fact that prices for some top-end video cards eventually also increased - by 2-3 times. But, nevertheless, they usually have cheap analogues for earning ethers, which are noisier, heat up more, but at the same time bring the same amount of money, and their cost has practically not changed and is 2 times less than the top ones. An example of this is the popular Radeon RX 470 Sapphire Nitro+ OC PCI-E 4096Mb (price around 30,000 rubles) and its brother Radeon RX 470 PowerColor Red Devil PCI-E 4096Mb (price around 13,000 rubles). The first one at the beginning cost only 13,000. There is a difference in price, but they have the same GPU - RX470, so they bring in the same money.

Table of video cards for Ethereum mining and their approximate payback with prices at the beginning of 2022:

GPU:	Payback:	Without taking into account electric energy:
Radeon RX 470	183 days. (16% per month)	145 days. (20.6% per month)
Radeon RX 480	193 days (15.5% per month)	156 days (19.2% per month)
GeForce GTX 1060	154 days (19.4% per month)	130 days (23% per month)
GeForce GTX 1070	185 days (16.2% per month)	162 days (18.5% per month)
Radeon Fury X	278 days (10.7% per month)	213 days (14% per month)

Now the terms are constantly changing due to price changes, mostly downward due to the multiple increase in the ether exchange rate.

Other parts of the system:

Intel motherboard with PCIe 3.0 x16 support.
The Intel processor is not necessarily the fastest, since the video card will mainly work here.
A good power supply for regulating the power consumption of the video card and other computer system components for Ethereum mining.
RAM compatible with video card.
HDD. SSD or HDD doesn't matter here
Computer case.
Coolers. Liquid cooling is required more, given the intense work of the GPU during mining. Therefore, you need to buy either a special cooling for the GPU, or buy a processor with built-in liquid cooling.

Earnings from investing in Ethereum

To make money, you should invest in Ethereum for a period of several years, until the next pump. Today the rate is 100 US dollars, many consider this the bottom and a place for a successful purchase. We believe that part of the fiat deposit can be transferred to ether now, the other part - in case it falls to $80, the third - to $50. Whether the Ethereum rate will reach such levels is unknown, but you need to be ready to buy back. You always need to assess the risks; you can both earn and lose.

To purchase and invest in Ethereum (hodl), you can use the following methods:

Crypto exchanges.
Exchangers.
P2P exchange.

When purchasing from an exchanger or transferring coins from an exchange, you must indicate your Ethereum address for receipt. The address starts with 0x, length 40–44 characters:

There are many ways to get it, using different types of cryptocurrency wallets: desktop, online, hardware, paper. MyEtherWallet is popular, the interface of which allows you to work with ERC20 tokens.

Why should you invest in Ethereum? 5 Reasons for the Growth of Cryptocurrency

The concept of cryptocurrency was developed in 2013 by Vitalik Buterin. True, the platform for work appeared only in 2015. The graphs show that then 1 coin could be bought for 35-55 cents. At the beginning of 2022, the rate rose thousands of times and reached $1,069.36. The ETH rate “throws out” green candles, which indicates growth. Experts are confident that it is still possible to “jump on the last bandwagon” and invest in cryptocurrency. Some talk about growth up to $1,500 , others are confident of $2,000 , while others predict a level of $5,000–7,000 .

Make money trading Ethereum cryptocurrency

On spot cryptocurrency platforms, you first need to buy Ethereum and only then sell it. To make money, you need to sell at a price higher than you bought. This was true in a rising market in 2022, but not in a falling market.

To be able to immediately open transactions in the desired direction, you should use margin exchanges. You can use them to short cryptocurrency (sell) and open long transactions (buy). Leverage allows you to increase the transaction volume several times.

Popular exchanges with leverage trading: BitMEX, Binance, Bybit, FTX, Huobi, EXMO. Brokers also provide the opportunity to use margin trading.

For example, BitMEX does not require verification, unlike other platforms. You can only top up your deposit with Bitcoin. Withdrawals are made once a day. The leverage size for Ethereum is from 0 to 50.

Where and how to buy Ethereum

Ethereum is growing steadily year after year. Only occasionally there are drops in the exchange rate. And even those are created by speculators for a short period of time. And then the rate begins to rise again.

It is best to buy Ethereum just at the moment when its rate is “sagging” or just starting to rise. But, if you invest for a period of six months or longer, then you can buy Ethereum at any time. He will grow up anyway.

You can buy and sell Ethereum either on an exchange or in online exchangers.

Buy Ethereum on the exchange

The exchange rate may be slightly better than at exchange offices. However, it is more difficult to buy there, since some trading skills are required, and the exchanges only work in dollars. Plus, they can take a daily commission while the purchase transaction is “open”.

Many exchanges only work through bank transfer. This means that we will lose all the benefits of the course on transactions. Plus, while the money continues to flow (this may take several days), the exchange rate may already rise significantly.

One way or another, exchanges are very popular now, so it would be wrong to keep silent about them in an article about Ethereum.

The largest exchanges where you can trade Ethereum are Poloniex, Bitfinex and LiveCoin.

How to set up mining in BTC and NANO for RaveOS, Minerstat and HiveOS operating systems

Let's see how to set up popular operating systems for mining. The setup principle is simple, you just need to specify the address of your Bitcoin wallet or NANO wallet instead of the Ethereum address.

Below is an example for RaveOS and the NANO wallet - as you can see, nothing complicated. We remind you that if you mine on the 2Miners pool, using RaveOS is completely free for you.

RaveOS settings for NANO

When using Minerstat, you can configure ETH mining in the worker configuration. To begin, select a suitable mining client, and then specify a simple configuration:

Coin: ETH
Pool: 2Miners stratum address. You can specify: eth.2miners.com:2020
Wallet: your wallet address in BTC or NANO.
Password: minerstat

Minerstat settings

In HiveOS, you must select a flight sheet for the 2Miners Ethereum pool and add a new wallet address. Please note that when adding a new address, the coin on top must be ETH, but you can use not only ETH as an address, but also NANO or BTC. Of course, this can only be done if you mine on the 2Miners pool.

RaveOS platform settings for NANO

mmpOS Settings

Create a wallet to link to the pool. Use Ethereum as your base cryptocurrency and enter your BTC or NANO address.

Miner settings in mmpOS

Create a pool and select the wallet you selected before. Add "eth.2miners.com" in the hostname line and specify the port "2020". Nothing else is needed - click the pool creation button.

Ethereum miner settings in mmpOS

Create a miner profile with a pool already created. Name the profile as you wish and select the appropriate miner.
Select the rig, click the “Switch miner profile” button and check the created profile. Make sure you have unlinked other profiles. After a few minutes, the settings will be applied and mining will start.

Delays in payments to Ethereum miners

The high cost of transfers on the Ethereum network gives rise to a second problem: payments are delayed. This does not always happen, but only on days when the Ethereum network is too busy. Unfortunately, the network has been almost always busy lately, and we don’t think anything will change for the better. The number of active cryptocurrency users is only growing.

As a result, miners also suffer. The pool pays only when the transfer price drops to reasonable values - less than $7.6 per transfer. The rest of the time, miners have to wait for their payments in the hope that the price of gas on the Ethereum network will decrease.

Let's look at the table with the historical price of gas over the past week. As you remember, the pool limit is set at 100 gwei. The table can be roughly divided into 2 parts: on the left for 3 days (October 2-4) the pool paid without problems, on the right for 4 days (October 5-8) the pool paid with regular delays.

Average gas price on the Ethereum network

Support receives constant complaints, saying “you don’t pay,” but what can we do? Just raise the gas limit even higher. But then how much will the translation cost? $20? $30? It is unacceptable. Most miners will not understand this decision and will be forced to look for other sources of income, since simply changing the pool will not solve the problem, and the story is exactly the same everywhere.

Ether PoS mining

In April 2022, Ethereum founder Vitalik Buterin announced that the system would soon switch to PoS - an earning scheme in which rewards in the form of coins are given only for having a certain number of coins, that is, it is like charging interest on deposits in banks. The entrance to PoS at the first stage will be 1000 ether coins.

About this technology:

In essence, Ether mining on a video card will cease to exist, but the transition from PoW (the usual scheme by using equipment to earn money on the miner’s side) will be gradual and, moreover, farms can be used to mine other currencies.

Launch of Ethereum 2.0

When talking about blockchain updates, it is impossible not to mention ETH 2.0. The release of Ethereum 2.0 should radically change the blockchain. Instead of today's Proof-of-work, the Proof-of-stack algorithm will be applied. This will make the network more economical (less electricity will be needed to process transactions and transaction processing fees will fall) and will also create an additional barrier against inflation.

In 2022, the developers will launch the network in test mode. It will be possible to use the airwaves both on the old network and on the new one. For some time they will function in parallel to each other. But if the user wants to switch from 1.0 to 2.0, then there is no way back.

At first, 2.0 will not support smart contracts, but this feature will appear over time. In general, it will be possible to say whether it was a good idea to make changes during 2021.

As for the exchange rate, it is still difficult to make a forecast. On the one hand, the release will fuel investor interest in ether and create additional demand. On the other hand, mining will become less profitable, and the outflow of miners may have a negative impact on the cryptocurrency. Most experts still believe that the exchange rate will rise. At least it will grow before the release and for some time immediately after it.

Technical differences between Bitcoin and Ethereum

The principle of operation of the blockchain for both cryptocurrencies is the same, but the indicators are different.

Mining algorithm. For Bitcoin it is SHA256, for Ethereum it is Ethash.
Network hashrate. Bitcoin is much higher because there are more miners involved in the work. Today, about 80% of all mining capacity in the world is consumed by BTC.
Transaction processing speed. On average, a Bitcoin transaction takes a few minutes to process, while an Ether transaction takes a few seconds. For both the first and the second currency, the speed will drop when the network is overloaded, but for ether in any case it will be less. Therefore, ETH as a currency is more viable.
Release limit. The Bitcoin network has a limit of 21 million coins. Of these, 88% have already been mined (and a significant part was irretrievably lost back in the 2000s). And the more coins are mined, the more difficult it will be to mine the next ones. This protects the cryptocurrency from inflation. Ether initially has no release limit. Once it was added, but quickly removed. Now Ethereum again has no restrictions on the number of coins in circulation. The only thing that protects a coin from inflation is the difficulty of mining.