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How to Earn Digital Currency Online in 2020

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earn digital currency

The following is a guide on how to earn digital currency online in 2020. This guide lists five ways.

Earn Digital Currency Online through Trading

You can earn digital currency online through trading on peer-to-peer (P2P) exchanges like Paxful. Trading could mean that you are exchanging one digital currency for another. Instead of getting paid in your local currency for selling bitcoin for a profit, the buyer can pay you in another digital currency like ether.

Trading on P2P exchanges could become a full-time job and earn you a living. On Paxful, for instance, you can post your sale offers and wait for users to buy from you. To increase your sales, you should have good feedback from users you have traded with previously, your selling price should be attractive, and you should have a high trade volume.

Furthermore, you can earn crypto by selling the gift cards you are not using. Some of the gift cards you can sell on Paxful for crypto include iTunes, American Express, Nike, Sephora, and Macy’s.

Participating in Affiliate Programs

Affiliate programs are arrangements where individuals earn commissions in crypto for onboarding new users. Such programs are great opportunities to earn extra income, especially if you believe in the company’s service or product.

For example, you can earn 50 percent of the escrow fee on Paxful when your friends (tier one affiliates) buy bitcoin on the platform. Additionally, you can earn ten percent of the escrow fee when your friends (tier two affiliates) purchase bitcoin on the P2P exchange.

Paxful pays commissions in bitcoin. Once you have earned at least USD10 in BTC, “you can cash out your earnings into your Paxful wallet anytime.”

To become a successful affiliate, you should understand the product or service you are recommending to your friends. Also, it would be best if you are a user of this product or service. People are more likely to try out an exchange, for instance, if you can prove that it is working for you.

Joining the Paxful Ambassador Program

Young AfricansPaxful’s ambassador program is suitable for individuals that believe in the P2P exchange and financial freedom. As an ambassador, your job is to tell as many people as you can about Paxful and to help them become users.

The initiative has three levels: peer, ambassador, and associate. Each level has several benefits and specific tasks that individuals should accomplish. For example, you will earn $5 as a peer each time your referrals complete their first trade on Paxful.

Individuals that join this program are eligible for affiliate program earnings. Furthermore, you will be invited to all Paxful events in your region, giving you a chance to increase your crypto knowledge and build your network.

Freelance Writing

Writing for crypto companies is another great way to earn digital currency. You can find freelance writing opportunities with crypto news sites, exchanges, crypto projects, and blockchain companies.

Crypto writing gigs can pay you in cryptocurrencies or company tokens. When it comes to the latter, ensure that you can easily exchange it for major cryptocurrencies before accepting payment.

You can apply for crypto freelance writing opportunities on Crypto Jobs, Cryptocurrency Jobs, Freelancer.com, Crypto Jobs List, Upwork, and Simply Hired.

Becoming a Crypto Social Media Influencer

If you are a crypto enthusiast with a large following on social media, you can advertise crypto products and services in exchange for digital currencies.

When advertising for crypto companies, ensure that you understand their product or service. Alternatively, use the product or service first before recommending it to your audience. To start earning digital currency online as a crypto influencer, you should actively reach out to companies with pitches.

With these five methods of earning digital currency online in 2020, you can start making extra income in the comfort of your home. All you need is a multi-coin wallet, a computer, a smartphone, and an internet connection.

Next, read where to purchase bitcoin in Africa by learning the difference between P2P marketplaces and centralised exchanges.

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How to Trade Cryptocurrency on Sikix.io

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Sikix Dashboard

Sikix is a decentralized exchange that allows users to have full control over their funds while trading digital assets. In this guide, you will learn how to trade cryptocurrency on Sikix.

Opening an Account on Sikix

To start trading on Sikix, you have to create an account.

Here are the steps you will take:

  • Visit the Sikix website
  • Click “Register Account”

Sikix

  • Enter an account name and password
  • Hit “Confirm”
  • Save the seed file to your computer and click “I’ve Backed It Up.” You should store your seed phrase safely because the platform cannot restore it for you.
  • Click the settings icon to verify your email address and phone number

Sikix.io

  • Next, go to “Balance” to deposit crypto or fiat into your account. For instance, if you want to deposit BTC, go to bitcoin on the list, click “Deposit” and copy the address provided. Transfer bitcoin to the address and click “Confirm.” Note that the minimum amount of BTC that you can deposit is 0.01.

Sikix Dashboard

  • Once the bitcoin hits your account, you should see the total balance and the USD equivalent displayed on the balance page.

On Sikix, the most common base currencies are USDT and the Nigerian naira (NGN). You can deposit both of them before you start trading. But that does not prevent you from depositing any of the other supported cryptocurrencies.

Depositing Local Currency to Your Account

To deposit naira, follow these instructions:

  • Go to “Balance”
  • Search for NGN on the list and click “Deposit”
  • Enter the amount you want to deposit. The platform will display the fees and the amount you will deposit.

Sikix Exchange

  • The platform will redirect you to a new page where you will enter your card details. Alternatively, you can use any of the other payment methods listed.

Sikix Trading

  • Once the transaction is complete, you should see your newly deposited funds on the balance page.

How to Trade Cryptocurrency on Sikix

Assuming that you deposited USDT in your account, here is how you can trade on Sikix:

  • Go to “Trade”
  • On the left-hand side of the screen, select a trading pair from the drop-down menu. For instance, you can choose the ETH/USDT trading pair. That means that you can buy ether with USDT. Note that the graph shows how the price of ETH is changing against USDT. You can view this change over different periods.

SIKIX DEX

  • On the right-hand side of the screen, select the green box. This box represents the bidding price, which is the maximum amount that you are willing to pay for ETH. The red box represents the asking price, the minimum price that a seller is willing to accept. You can choose to trade at these levels.
  • Alternatively, you can make your purchase through a limit or market order. The limit order allows you to buy ETH at a fixed price. Conversely, a market order enables you to buy ETH at the best market price.
  • Once you have entered the amounts, click “Buy ETH” to open your order. If you placed a market order, your purchase will take place immediately. However, you will have to wait to get a match if you placed a limit order.
  • When your order goes through, an ETH balance should reflect in your account.

Presently, the exchange supports BTC, USDT, ETH, BCH, XLM, XRP, NGN, and CMT with a plan to add more digital currencies in the future.

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A Complete Beginner’s Guide to TerraCredit (CREDIT)

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TerraCredit

Ever come across TerraCredit or TerraBit and wondered what they are? In this guide, we explore the TerraCredit ecosystem and provide an in-depth beginner’s guide to one of the fastest-growing crypto projects in Africa.

What is TerraCredit (CREDIT)?

CREDITTerraCredit (CREDIT) is a decentralised cryptocurrency at the heart of a digital payment ecosystem. The developers behind the cryptocurrency built CREDIT as a “viable replacement to cash and a rewarding option” – especially for users in developing markets.

CREDIT is the native currency of the TerraBit platform, a payment platform tailored towards the unbanked.

At the time of writing, the cryptocurrency is in the top 1,000 coins by market cap on CoinGecko. At the time of writing, CREDIT was trading at $0.00614 per coin.

Highlights About CREDIT

  • Name: TerraCredit
  • Ticker/Symbol: CREDIT
  • Max supply: 86,000,000
  • Blockchain: Native
  • Consensus mechanism: Proof of Stake (POS)
  • Established: 2017**

The cryptocurrency is built on a native Proof-of-Stake blockchain, requiring less from network validators, allowing more people to participate in the network. Currently, the Terracredit blockchain has over 12,000 individual network validators. The decentralised nature of validators makes it difficult to perform a 51 % attack on the blockchain.

What’s more, transaction fees on the Terra blockchain are very low. In contrast, most of the top cryptocurrencies have become very expensive to use due to fees. TerraCredit allows you to transact with fees as low as $0.00000003.

Moreover, CREDIT transactions are fast. They confirm in seconds Quicker transactions are made possible because of the low fees and the availability of several validators.

TerraCredit can be stored on native or third-party wallets. The native CREDIT wallet is available on desktops running Windows, Linux, and Mac OS. You can also download the mobile application for Android. Conversely, if you prefer third-party applications, there are many options like MyCointainer to choose from. 

What is TerraBit?

TerraBitTerraBit is a global payments platform that allows you to store cryptocurrencies and exchange them for fiat on a single app. It is also the native wallet of TerraCredit.

TerraBit supports CREDIT and bitcoin (BTC). It also supports fiat currencies like the naira (NGN), rand (ZAR), and peso (COP). You can deposit these currencies directly on the app to purchase cryptocurrencies.

Besides buying crypto, you can also sell crypto in the app and withdraw it to your bank account. This feature has made it very popular in developing markets like Nigeria, Colombia, and Kenya.

TerraBit also has a merchants interface that makes it possible for you to accept crypto payments. If you are a business owner, you can accept crypto payments in person via the app. It is extra easy doing the same online by just sending your crypto address.

Finally, the app comes with extra features, such as web staking.

Highlights of TerraBit

  • Trade cryptocurrencies on-the-go
  • Support for fiat currencies: NGN, ZAR, COP
  • Merchant interface to accept crypto payments
  • QR payments

Future features coming to TerraBit includes more fiat options for markets like Ghana. Virtual credit cards are also on the roadmap. These cards will make it possible for you to spend your crypto wherever bank cards are accepted.

TeraCredit Features

TerraCredit has several features that have seen an upgrade after the latest hard fork. As mentioned earlier, TerraCredit deploys the most modern blockchain technology. This makes it decentralised, fast, private, and easy to use. Here is a deeper look at the leading features of TerraCredit:

Proof of Stake: TerraCredit runs on a Proof of Stake (POS) consensus algorithm. Compared to other consensus algorithms like Proof of Work, POS is more lightweight and easier to participate in. Easy participation allows more individuals to play a role in confirming transactions. Without a broader pool of validators on a network, it becomes centralised.

The few validators get to control the affairs of the project. Also, bad actors can take advantage of this to attack the blockchain. You can participate in securing the TerraCredit network via staking or masternodes. Securing the network also rewards you through the creation of new coins. 

Decentralised Autonomous Organisation (DAO): The latest TerraCredit hard fork brought a new governance model. Masternodes operate the TerraCredit DAO. Aside from helping secure the network, masternodes contribute to the governance of the project. The DAO gets funds directly from the blockchain, which are allocated to approved proposals. Anyone can submit a proposal that masternodes vote on. Each masternode has one vote. Having a DAO with funds directly from the blockchain ensures the development and marketing of the project.

Swiftx: TerraCredit (CREDIT) enables swift transactions using the masternode infrastructure. Swiftx ensures “near-instantaneous” transactions. This feature aims to put TerraCredit in the same league as major payment processors like Visa and MasterCard. 

Coin mixing: Mixing makes transactions private. Instead of sending transactions directly from your wallet to another, coin mixing takes the coins through several transactions (mixing) before the final destination. This feature gives CREDIT privacy utility.

Ways to Earn CREDIT in 2020

TerraBit

There are two main ways to earn CREDIT in 2020. Both methods allow you to earn passive income since they require only a simple set up at the initial stages.

Web Staking

You can stake CREDIT via the native wallet. All you have to do is load your wallet with CREDIT and turn on staking to get started. It is simpler than mining and lowers the barrier of entry. You can stake 0.000000001 CREDIT and above. Rewards are paid daily into your wallet after you begin web staking.

Masternodes

Masternodes, on the other hand, come with more requirements. You need to hold at least 50,000 CREDIT as collateral for your masternode. After, you have to set up a node with the wallet. You can do this using a hosting service or do it yourself using basic hardware like Raspberry Pi.

Masternode owners receive rewards every block for securing the network and participating in the governance process. 

The Bottom Line

TerraCredit continues to grow beyond the TerraBit platform. CREDIT has been added to several exchanges, payment processors, and wallets recently, while its web staking functionality offers users a way to generate investment income on their CREDIT holdings. 

To learn more about TerraCredit, check out the project’s website.

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Chipper Cash: How to Seamlessly Send and Receive Money Across Africa

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Chipper Cash

Are you looking for a quick and easy way of sending and receiving money in Africa? In this guide, we will explore how Chipper Cash can enable you to transact comfortably right on your mobile phone.

What is Chipper Cash?

Chipper CashChipper Cash is a money transfer platform that enables seamless cross-border transactions. The payment service aims to democratise financial services for Africa’s unbanked by allowing them to transact through their smartphones.

According to Chipper Cash, the app is the first of its kind to provide instant cross-border mobile money transfers on the continent.

The app allows you to connect one or more mobile wallets, and transfer money to a number of locations. Moreover, all in-country transfers are free, which makes it an inexpensive option for P2P payments. The app is available for Android and iOS devices.

How Does Chipper Cash Work?

To access Chipper Cash, you have to download the app onto your smartphone. You can download the app on the Google Playstore for Android users or from the Apple store if you are on iOS. You will have to register an account before you start transacting on the platform. The platform allows you to register using your email address or phone number.

The verification process is fairly easy. You input personal details including your bio, address, and select the default currency for your account. Interestingly, the app can sync with your device and automatically select your current location as your address, saving you precious seconds inputting the same manually. Finally, registration is complete once you set a four-digit PIN and log into the platform.

Chipper Cash has a simple UI that consists of three main windows; the activity section, the referral section, and the user profile page.

To send money you have to ensure the recipient is a verified user on Chipper. If possible, request their Chipper Cash tag to confirm before sending money. Alternatively, you can scan the QR code of the recipient, if nearby, and send him or her the funds instantly.

How to Send and Receive Money

Chipper Cash AppYou can load money from your mobile money account onto your Chipper wallet using the ‘Add Cash‘ functionality at the top of the page. When transferring money from your phone you will receive a request for approval on your phone. Once you approve the prompt the money will be credited in your Chipper wallet. The reverse will happen when you need to transfer money from your Chipper wallet to your mobile money account. To do this, simply tap, the ‘Cash out‘ option in your profile, and a similar process will be initiated.

You can request money from anyone on Chipper by utilising the ‘Request’ tab on the bottom of the landing page. This is no doubt a good feature when following up on payments or seeking refunds for erroneous transactions. The platform does not charge any fees, even for cross-border transfers. Moreover, Chipper Cash has no minimum balance for sending money and is thus suitable for micro-payments.

According to the platform, there are plans to roll out a Chipper Cash ‘escrow’ service. Currently, to cancel out a transaction sent to the wrong address you have to request the recipient to reverse the same. However, the recipient has to approve such a request. To avoid such a scenario you are advised to check that you have the correct address before you send money.

While there are no limits to how much you can send per transaction, there are limits to how much you can ‘Cash In’ and ‘Cash Out’ on the platform. Furthermore, you can send money to a recipient who is not on the platform. They will receive a text message notifying them of the payment. However, they will still have to download the app to access their funds.

Other Chipper Cash features include:

  • You can link multiple mobile money accounts
  • Generous referral program

Pros and Cons of Using Chipper Cash

Pros

  • Simple UI
  • Free cross-border transactions
  • No minimum balance
  • Discounted airtime purchase
  • Interoperable – you can connect multiple mobile money accounts
  • Dedicated customer support team

Cons

  • Lengthy verification process
  • Lack of an ‘escrow’ functionality

The Chipper Cash app is currently available in seven African countries including Ghana, Uganda, Kenya, Tanzania, Rwanda, Nigeria, and South Africa. Moreover, the platform is backed by several prominent VC’s and organisations with future plans to expand into new markets.

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