I just realized that many friends are still searching for apps to mine ETH on their phones, but in fact, that era is over. Since The Merge in 2022, Ethereum switched to Proof of Stake, so mining with computers or phones is no longer feasible. All apps advertising ETH mining nowadays are scams, just to steal money or install malware.

But don’t worry, there are other ways to profit from ETH without having to hold the private keys yourself. I will share the most practical methods.

First, you need to determine your goal. Do you want to hold long-term or trade short-term? If long-term, a cold wallet (hardware wallet) like Ledger Nano X or Trezor Model T is the safest choice. The advantage of cold wallets is that your private keys are completely offline, so even if your computer gets infected or hacked, your funds cannot be stolen. As long as you don’t reveal your 12-24 recovery seed phrase, your money is as secure as in a fortress.

If you want more flexibility, hot wallets like MetaMask or Rabby Wallet are very convenient. They allow you to interact with DeFi applications, stake ETH, or participate in new projects. But the risk is phishing — hackers create fake websites, and if you connect your wallet and approve transactions, malicious code can drain all your funds. So be careful and always double-check the URL before approving.

The third option is trading CFDs — no need to hold tokens, just predict the price movement. This method is advantageous because you can profit even when the market goes down (by shorting), and small capital can participate thanks to leverage. But the risk is higher if you don’t manage your funds properly. The key is to choose licensed exchanges, not unregulated ones.

Regarding staking, if you want to earn yields from ETH without managing complex node servers, try liquid staking protocols like Lido. You deposit ETH and receive stETH tokens, earning annual APY from the network. This method is very popular nowadays.

Risk management is key. Whatever method you choose, never risk more than 2-5% of your total capital on a single trade. Always set a stop-loss in advance. If you’re a beginner, use a demo account before depositing real money.

ETH price currently hovers around $2.1K, down slightly 0.59% in 24 hours. If you want to follow news, CryptoPanic and Reddit (r/ethereum) are good sources. Learning about candlestick charts and technical indicators is also very helpful.

In summary, ETH mining apps are an old trap. Instead, choose wallets that suit your strategy, manage risks carefully, and keep learning. The ETH market this year offers many opportunities but also comes with significant risks. Stay smart!