How can one earn with different lesser known cryptocurrencies?

[Kakashi2020]

These are straight forward questions.

Q.How does one earn from lesser known cryptocurrencies?  

I have some in my wallet but I really don't know how to monetize it.

Q.Are faucets scams?  

Because I can't withdraw they always have a high minimum withdrawal threshold.

Q.How does one convert coins into cash?  And how to go about withdrawing it?

I'm a newbie in cryptos, I've been collecting different cryptocurrencies for a year now and I haven't monetized anything yet.  It seems there's always a minimum everywhere I go.

 

[EfficientNinja]

The same way with the popular Crypto, we trade them in the market to earn profits. We could only earn from those lesser known cryptocurrencies if they are liquid enough. I only use the faucets that belong to the popular group and are proven to pay. I've cashed out once myself from those faucets. It took me days to earn the minimum payout though.

 

[Kakashi2020]

4 hours ago, EfficientNinja said:

The same way with the popular Crypto, we trade them in the market to earn profits. We could only earn from those lesser known cryptocurrencies if they are liquid enough. I only use the faucets that belong to the popular group and are proven to pay. I've cashed out once myself from those faucets. It took me days to earn the minimum payout though.

 

Well I haven't cashed out from any faucet because the minimum cash out in all faucets I know needs you to collect a lot of coins. At least 6 months worth before you are eligible for withdrawal.  

[Kakashi2020]

5 hours ago, EfficientNinja said:

The same way with the popular Crypto, we trade them in the market to earn profits. We could only earn from those lesser known cryptocurrencies if they are liquid enough. I only use the faucets that belong to the popular group and are proven to pay. I've cashed out once myself from those faucets. It took me days to earn the minimum payout though.

 

Ahh what market are you talking about?  There's no current legit and licensed exchange here in the Philippines.  What group are you getting your coins from I know two groups and both are bogus freebitco and moon group.

[Martinsx]

On 5/17/2018 at 2:27 AM, Kakashi2020 said:

These are straight forward questions.

Q.How does one earn from lesser known cryptocurrencies?  

I have some in my wallet but I really don't know how to monetize it.

Q.Are faucets scams?  

Because I can't withdraw they always have a high minimum withdrawal threshold.

Q.How does one convert coins into cash?  And how to go about withdrawing it?

I'm a newbie in cryptos, I've been collecting different cryptocurrencies for a year now and I haven't monetized anything yet.  It seems there's always a minimum everywhere I go.

 

You can monetize your cryptocurrency by selling or trading them in the cryptocurrency exchange sites I have stated earlier between coinbase and Binance.

You can as well use it to purchase products from online stores that accept cryptocurrency. Take Amazon for instance, they accept cryptocurrency for sales. 

[Martinsx]

On 5/21/2018 at 6:14 AM, EfficientNinja said:

The same way with the popular Crypto, we trade them in the market to earn profits. We could only earn from those lesser known cryptocurrencies if they are liquid enough. I only use the faucets that belong to the popular group and are proven to pay. I've cashed out once myself from those faucets. It took me days to earn the minimum payout though.

 

So therefore, in essence what one needs to be looking out for is proven faucets sites that have successfully paid its users and make use of. 

I'm still evaluating the ones which you recommend to me and sooner or later, I'm going to start mining from it. 

[Kakashi2020]

3 hours ago, Martinsx said:

You can monetize your cryptocurrency by selling or trading them in the cryptocurrency exchange sites I have stated earlier between coinbase and Binance.

You can as well use it to purchase products from online stores that accept cryptocurrency. Take Amazon for instance, they accept cryptocurrency for sales. 

I'm still studying those sites Binance is a bit more complicated than coinbase so it seems first I have to deposit some money, then buy some coins after that trade them, then use it to buy things in amazon.  How much would they get per trade?  Are there charges per withdrawal?  How much is the minimum withdrawable amount? How much is the minimum investment?

[EfficientNinja]

On 5/21/2018 at 6:13 PM, Kakashi2020 said:

Well I haven't cashed out from any faucet because the minimum cash out in all faucets I know needs you to collect a lot of coins. At least 6 months worth before you are eligible for withdrawal.  

Buy Bitcoins using coins.ph then trade them on Binance or other well-known cryptocurrency exchange sites. This is the simplest because you trade them like stocks and forex. They also have stop-loss orders there unlike in the Philippines stock market, I have to manually check if it hits my stop loss.

On 5/26/2018 at 7:10 AM, Martinsx said:

So therefore, in essence what one needs to be looking out for is proven faucets sites that have successfully paid its users and make use of. 

I'm still evaluating the ones which you recommend to me and sooner or later, I'm going to start mining from it. 

You can buy Bitcoin using your money then trade it by buying other altcoins in the market. You should be skilled in Technical Analysis if you are going to do trading. I've read enough books but I am still backtesting my trading system.

[Martinsx]

25 minutes ago, EfficientNinja said:

Buy Bitcoins using coins.ph then trade them on Binance or other well-known cryptocurrency exchange sites. This is the simplest because you trade them like stocks and forex. They also have stop-loss orders there unlike in the Philippines stock market, I have to manually check if it hits my stop loss.

You can buy Bitcoin using your money then trade it by buying other altcoins in the market. You should be skilled in Technical Analysis if you are going to do trading. I've read enough books but I am still backtesting my trading system.

I know this very well as a credible means of trading with other Altcoins after one must have purchased Bitcoin using fiat currency on possibly the cryptocurrency exchange site called coinbase.

It's the best online cryptocurrency exchange site that offer the opportunity to buy and invest in cryptocurrency with the use of any fiat currency. 

[Kakashi2020]

18 minutes ago, EfficientNinja said:

Buy Bitcoins using coins.ph then trade them on Binance or other well-known cryptocurrency exchange sites. This is the simplest because you trade them like stocks and forex. They also have stop-loss orders there unlike in the Philippines stock market, I have to manually check if it hits my stop loss.

You can buy Bitcoin using your money then trade it by buying other altcoins in the market. You should be skilled in Technical Analysis if you are going to do trading. I've read enough books but I am still backtesting my trading system.

Thanks for the advice about coins.ph,  I'll have to check this out first, I already have a coinbase account but I'm really not yet familiar with the site.  What I can't understand is why are these sites so complicated?  Can't they make it easier to understand?

[EfficientNinja]

On 5/29/2018 at 8:38 PM, Kakashi2020 said:

Thanks for the advice about coins.ph,  I'll have to check this out first, I already have a coinbase account but I'm really not yet familiar with the site.  What I can't understand is why are these sites so complicated?  Can't they make it easier to understand?

That's what I thought about those sites too. Good thing I am somehow familiar with exchange sites but I still did some research and looked for tutorials so I won't do anything wrong. There are lots of sites that provide tutorials for newcomers.

[Kakashi2020]

On 5/30/2018 at 9:25 PM, EfficientNinja said:

That's what I thought about those sites too. Good thing I am somehow familiar with exchange sites but I still did some research and looked for tutorials so I won't do anything wrong. There are lots of sites that provide tutorials for newcomers.

I really think that investing into new cryptocurrencies is the best way to go because if you invest in 10 new cryptocurrencies with low prices then you only have to invest a small amount but the chance that one or two of these new coins would appreciate 10x or even 20x is high so you'll end up getting back your investment with a lot of profit right?

[Marako0406]

Trading is one way to earn but the profit would just be an extra not a big return is expected, Investing a little wouldn't hurt I think that one should try it to know whether to pursue it in the future. But for now faucets are more optional, some pays and some really has set their threshold. It really needs time and patience to grow money in the cryptoworld.

[Steve5]

On 5/21/2018 at 1:14 PM, EfficientNinja said:

The same way with the popular Crypto, we trade them in the market to earn profits. We could only earn from those lesser known cryptocurrencies if they are liquid enough. I only use the faucets that belong to the popular group and are proven to pay. I've cashed out once myself from those faucets. It took me days to earn the minimum payout though.

 

I'm glad you've managed to earn your payout. I've seen how it takes some time to get the minimum required for it. It's great for those who have dedicated processors. They earn much better using faucets. 😂

[Onizuka]

On 5/17/2018 at 9:27 AM, Kakashi2020 said:

These are straight forward questions.

Q.How does one earn from lesser known cryptocurrencies?  

I have some in my wallet but I really don't know how to monetize it.

Q.Are faucets scams?  

Because I can't withdraw they always have a high minimum withdrawal threshold.

Q.How does one convert coins into cash?  And how to go about withdrawing it?

I'm a newbie in cryptos, I've been collecting different cryptocurrencies for a year now and I haven't monetized anything yet.  It seems there's always a minimum everywhere I go.

 

1. I'm not sure about your situation but it seems you received coins from ICOs or from airdrops, otherwise you'd probably not be asking these questions. The easiest way would be to wait for those coins to be listed in exchanges like Binance or Coinbase and then trade them for other coins or to fiat if the exchange allows it. This event of listing usually happens a long time after a coin's ICO so chances are more likely that the coin has appreciated in value.

2. As for your second question, I have no personal experience with those as I have not tried faucets because I have read that faucets leak "droplet" levels of coins and are thus more of a side profit than a direct profit. It's free but it'll take a long time to get meaningful amounts, and there's also the risk of it being a scam.

3. You trade these lesser known cryptos into btc, and then you can more easily convert btc into usd or some other currency.

Edited November 5, 2018 by Onizuka

[Alymae]

On 5/29/2018 at 8:38 PM, Kakashi2020 said:

Thanks for the advice about coins.ph,  I'll have to check this out first, I already have a coinbase account but I'm really not yet familiar with the site.  What I can't understand is why are these sites so complicated?  Can't they make it easier to understand?

I also used coins.ph. I buy from here. Have you tried coinpot.co? This is a faucet. Have you also tried airdrops? Airdrops is a distribution of cryptocurrency tokens for free to promote a new token. You can have a new token for free. You can also try faucethub.io. As the name suggests it is a faucet. 

[Kakashi2020]

10 hours ago, Alymae said:

I also used coins.ph. I buy from here. Have you tried coinpot.co? This is a faucet. Have you also tried airdrops? Airdrops is a distribution of cryptocurrency tokens for free to promote a new token. You can have a new token for free. You can also try faucethub.io. As the name suggests it is a faucet. 

I've tried different faucets but the problem is each faucet has a high minimum withdrawal so you can't transfer your cryptos to your wallet because it goes to another wallet inside the site until such a time that you've reached the minimum amount, and that would take at least 6 months to years.

[Kakashi2020]

On 11/5/2018 at 6:43 AM, Steve5 said:

I'm glad you've managed to earn your payout. I've seen how it takes some time to get the minimum required for it. It's great for those who have dedicated processors. They earn much better using faucets. 😂

All the faucets I've tried are useless because of the high withdrawal threshold which in my computation would take 6 months minimum to withdraw whatever cryptos I've earned to my wallet.  Also each faucet has a built in wallet which would house your cryptos until you've reached the minimum withdrawable amount which in my opinion is unfair.  

[Kakashi2020]

On 5/26/2018 at 7:07 AM, Martinsx said:

You can monetize your cryptocurrency by selling or trading them in the cryptocurrency exchange sites I have stated earlier between coinbase and Binance.

You can as well use it to purchase products from online stores that accept cryptocurrency. Take Amazon for instance, they accept cryptocurrency for sales. 

That's if you reach the minimum withdrawable amount which would take months and even yeats to do so.  I think it's unfair.  Faucets should transfer earned cryptos no matter how small in personal wallets and not on on-site wallets which are useless because of the high minimum withdrawable threshold.

[Martinsx]

10 hours ago, Kakashi2020 said:

That's if you reach the minimum withdrawable amount which would take months and even yeats to do so.  I think it's unfair.  Faucets should transfer earned cryptos no matter how small in personal wallets and not on on-site wallets which are useless because of the high minimum withdrawable threshold.

Exactly! Reaching the withdrawal threshold in most Faucets sites are almost impossible and I believe that the mining site was designed to do so and rob people off their hardwork. I completely agree with you on this one about miners being able to take anything that they were able to mine from the Faucets sites. 

[Steve5]

On 12/3/2018 at 8:38 AM, Kakashi2020 said:

All the faucets I've tried are useless because of the high withdrawal threshold which in my computation would take 6 months minimum to withdraw whatever cryptos I've earned to my wallet.  Also each faucet has a built in wallet which would house your cryptos until you've reached the minimum withdrawable amount which in my opinion is unfair.  

I know, right? I feel like it's designed in such a way that they get to keep your money. Like if you don't make the minimum amount required for withdrawal. This is why we should know the basic information before investing our time in different faucets.

[Kakashi2020]

7 hours ago, Steve5 said:

I know, right? I feel like it's designed in such a way that they get to keep your money. Like if you don't make the minimum amount required for withdrawal. This is why we should know the basic information before investing our time in different faucets.

Faucets are scams they amount to nothing, just a waste of time.  You can't really earn from it.  It's a marketing gimmick to make a certain new Cryptocurrency famous.  The ones getting rich is the site faucet owner.

[Steve5]

7 hours ago, Kakashi2020 said:

Faucets are scams they amount to nothing, just a waste of time.  You can't really earn from it.  It's a marketing gimmick to make a certain new Cryptocurrency famous.  The ones getting rich is the site faucet owner.

Yeah. That's true. Most of the time the one handling it becomes the real winner. All the users who spend their time on faucets don't even get a decent amount of money. It's like they're working for the person who built the site without knowing it. ☹️

[Alymae]

On 12/3/2018 at 8:34 AM, Kakashi2020 said:

I've tried different faucets but the problem is each faucet has a high minimum withdrawal so you can't transfer your cryptos to your wallet because it goes to another wallet inside the site until such a time that you've reached the minimum amount, and that would take at least 6 months to years.

Yes. It is really time-consuming and with a very high threshold. It would take a long time to earn from them. If you really want a token then you can buy and invest.

[Kakashi2020]

On 12/5/2018 at 10:17 AM, Alymae said:

Yes. It is really time-consuming and with a very high threshold. It would take a long time to earn from them. If you really want a token then you can buy and invest.

I agree, if one truly wants to earn in cryptocurrencies then he really needs to invest some money to buy some coins.  Faucets are just a waste of time and effort.