Siacoin: Generate passive income by renting your free disk space!

Renting free hard disk space between individuals.

For those who don't know (yet), Siacoin is a new cryptocurrency that is increasingly popular in the cryptocurrency world. Wherever you go on the internet: on forums, blogs and discussions of all kinds, everyone knows about Siacoin. Many see it as a top 10 cryptocurrency and just as convenient as bitcoin.

Siacoin is a decentralized private cloud platform 9 times cheaper than cloud storage behemoths Amazon S3, Google Cloud and Microsoft Azure. For example, storing 1TB of files with Sia costs around $2/month while it costs $23 per month on Amazon S3. Imagine the savings you can make or enable others to make.

Here we show you how to buy siacoin, how to mine it and how to earn it for free.

What is the Siacoin decentralized storage project for?

Speaking of this, we could also cite the Filecoin and Maidsafe without forgetting StorJ because they have the same inspirations and objectives, in broad terms. Basically, these are peer-to-peer cloud storage services.

Please note that currently many cryptocurrency miners are opting for Siacoin mining, because it remains extremely profitable. Indeed, many people believe in this project, here’s why.

To explain what the project is, we could say that it would be the decentralization of hard disk spaces. Some people even talk about the "Airbnb of hard disks". This means that each person could rent space on their hard disk to other people. A sort of decentralized Dropbox, if we want to be more precise.

In fact, it would be downright revolutionary and This would allow many people to build passive income.Yes, the only prerequisite would be to have a computer and available storage space. It is within everyone's reach.

Millions of tetrabytes of unused disk space around the world represent economic value that, thanks to projects such as Siacoin, could be immediately converted into passive income. Oh yeah!!

For example, a normal person in Germany could rent gigabytes of free space to a person residing in Norway so that the latter can store photos, for example. Here is an example of the use of Siacoin. We have seen how Dropbox has become part of our lives, we can in fact assume the next royal success of Siacoin.

How to open a wallet?

As you know, when you don't want to download the official wallet of a cryptocurrency, you have alternatives.

In general, the most well-known cryptocurrencies are grouped into popular wallets like Coinbase or BitPanda (which accepts more than 30 cryptocurrencies). Otherwise, on exchange platforms, you can directly have an address of the crypto of your choice.

For Siacoin, I opted for Binance and this is how I found my Siacoin address:

• I go on Binance.
• I click on the “Funds” tab
• Then I click on the “Deposit” tab (the address to deposit your siacoin).
• There you go, I have my siacoin address!

How to buy it easily:

Given the upward propensity of this cryptocurrency, I would tell you that now is clearly the time to buy it. That said, remember that I am not a financial advisor! This is just a recommendation if you don't yet know what to invest in.

1 siacoin = 0,002813 dollars. It has already reached the peak of $0.09.

You can get some with the goal that the price will start to rise again. You can see opposite that it is very, very low currently. You have several methods to buy siacoin, including:

• To buy it via an exchange platform, you can simply go to the Binance tutorial to buy some. To do this you will first need to have bitcoin.

• If you have other cryptocurrencies, you can trade them via Changelly. In this case, you will still need to have a siacoin wallet, by downloading it from the site directly.

How to get Sia token for free?

There are three main methods to earn Siacoin for free or without putting in too much effort:

1. Rent your free hard drive space

Of course, the easiest way to earn Siacoin is still to use the service. You can therefore rent your storage space that you have excess or that you do not need. Indeed, Siacoin is a cloud storage service where all users can rent their free hard drive space.

Rather than leaving disk space behind without earning anything, you can earn a small, regular income from it. Above all, it requires no effort from you.

You have all the freedom to decide how much space you want to contribute to the Sia blockchain. Of course, the more space you rent, the more you earn.

To do this, simply register on  the official Siacoin website.

2. Have siacoin while mining

It would take too long here to explain the whole process to undermine it. That said, the site is rich in information and it explains all the steps to follow to mine siacoin.
You will first need to have powerful graphics cards to use the power of the GPU.

3. Win some thanks to faucets

Well, it's true that it's the simplest method but also the longest, as you know. You will only earn a fraction of Siacoin. That said, if the token goes up, it will still give you a small amount of a cryptocurrency of the future.

There you go, I hope this has helped you to have siacoin or at least to discover what it is.