Earning revenue in the crypto space in India is not as difficult as it may seem. However, when people think about ways to make money in the crypto market in India, they feel that it is only through crypto trading, which is far from reality. Below are some ways Indians are earning a revenue in the blockchain world.
Proof of Stake networks and their variants allow the holders of their native tokens to stake them and earn revenue. By staking, the user delegates their tokens to validators in the network. After a period, they can access their delegated tokens and rewards. Staking acts as a way of protecting the network.
Sometimes, crypto projects do airdrops as a way of achieving some purposes. For example, they may want to improve their popularity, and carrying out airdrops tends to attract people to the community. In addition, some tasks needed to get the airdrop are done to increase community members. In some cases, a project may do a testnet airdrop to encourage crypto enthusiasts to try out their features.
A relatively common way to make money in the crypto space, their strategies vary with traders. There are diverse trading options like spot trading, margin trading, futures trading, etc., existing today.
Proof of Work networks rewards those who mine for blocks; this is one of the advanced ways of earning money because a potential miner needs machinery, electricity, and expertise to earn through this means.
Decentralized financial activities
Those that lend their idle tokens to others can earn rewards. The same can be said for those that provide liquidity. Some crypto platforms offer rewards for saving one’s tokens with them for a while.