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Author: Admin | 2025-04-27
For a program and adding affiliate links to your content just takes minutes! Airdrops Decentralized protocols often airdrop users tokens for free (or for a small gas fee). In the past, protocols like Uniswap and Ethereum Naming Service (ENS) have airdropped tokens to early users to reward them for using the protocol and give them a voice in future protocol governance decisions. Airdropped cryptocurrency can be incredibly valuable! At the time of the Uniswap airdrop, users could claim up to $1,200 in UNI for free. By February 2020, the value of these same tokens was $12,000! Difficulty: Medium - It can be difficult to tell which protocols are planning to do airdrops to users in the future! Time: Claiming an airdrop is quick and easy! All you have to do is pay the gas fee to claim your reward. Crypto Bounties Some cryptocurrency projects pay out cryptocurrency for completing bounties on specific tasks — such as following the project on platforms like Twitter or Telegram or making a YouTube video about the project. Some projects like Ethereum offer bug bounties to investors who can identify issues in a project’s source code. The reward for identifying a ‘critical’ bug can be as high as $250,000. Difficulty: Easy to Hard - Cryptocurrency bounties can be very easy or very difficult depending on the specific nature of your task. While following a project on Telegram is relatively simple, analyzing a smart contract to find bugs can take considerable effort. Time: Time may vary depending on the specific nature of the task. How is my crypto income taxed? If you’re earning cryptocurrency using the methods above, it’s important to keep in mind that your crypto income is subject to tax. In the United States, cryptocurrency is subject to income and capital gains tax. Income tax: When you earn cryptocurrency, you’ll pay income tax based on the fair market value of your crypto at the time of receipt. Capital gains tax: If you sell or dispose of your crypto rewards in the future, you’ll incur a capital gain or loss depending on how the price
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