So you’re here because you want to earn money using crypto. You have been hearing stories of those successful people trading day and night and earning millions or maybe it’s your friends who have a passive income due to crypto trading.
Everyone wants to make money with crypto but not everyone gets to do that. Many people lose heart by one or two losses and others just do not understand the basics and find it super complicated. They only think so because they do not get how cryptocurrency can help them.
Let us tell you a secret: Cryptocurrency is still in its early stages and the one who’ll hop in right now will be the champion soon. As the prices of these assets are increasing every day, more and more people are joining in. You don’t want to miss anything right now, do you?
Let us tell you the good news now: we know a bunch of methods that can help you make money. We researched all the growth since 2011 that has been made in the cryptocurrency industry including the new cryptocurrencies, social media marketing, and the start-ups in the crypto world. Let’s start with the easiest ways you can make money with it:
Is it possible to make money with cryptocurrency?
Yes, absolutely. Crypto assets are highly volatile making them a great opportunity to earn profits with proper domain knowledge and expertise. Trading cryptocurrencies is your answer to earning passive income today and auto trading tools like Bitcoin Trader can be of help too. Bitcoin Trader is an automated trading software that will make your trading journey easier and smoother.
The crypto trades only make up 1% of the foreign exchange market but this fact makes the investors innovators of the industry earning them higher profits. The volatility of the market allows you to make short-term trades. The growth potential of the market is great as so many cryptocurrencies in addition to the popular ones Bitcoin, Ethereum, Dogecoin, and more are coming into the market. Similarly, there are many different platforms where you can buy cryptocurrencies like Binance and Coinbase. Many crypto trading software, like Bitcoin Trader, are also found in the market that help in trades.
There are different ways to make money using crypto but here are some of the legitimate ways other than just trading:
6 Strategies to Make Money with Crypto
If you are looking to make money using crypto, you have come to the right blog. There are three mechanisms that basically all strategies rely on
- Invest crypto in tcrypto exchange. You do not have to own a currency as is the case with other stock markets.
- You can lend your currency to the others to make profit off of it and you keep a cut as well as your own coin without trading.
- Be a part of blockchain system and receive rewards for mining or any by wondering how to earn money with cryptocurrency, look no further! Strategies for making money with crypto rely on three mechanisms:
Based on these three mechanisms, here are the six cryptocurrency money-making strategies:
Investing helps make money in the long-term with buying and holding of crypto assets for a while. It is better to use buy-and-hold strategy with crypto assets. They might be voaltile for short term but in long term they can produce mind blowing results or you can say profits.
All you have to do is identify stable assets like Bitcoin and Ethereum as they’ll be around for a longer time. These assets are considered a safe investment as they show a long term price increase.
Unlike investing, trading shows short term opportunities. The prices of these assets change quickly in the volatile market and trading them with the trends will gain you profits.
You need to be a good researcher and a good analyst to trade with crypto. You’ll have to analyze the market and the performance of each asset to determine which one you are going to use. Then using your data, you’ll have to predict tthe increase or decrease of prices and trade accordingly.
There are two positions in trading, long and short. It depends on your expectations of asset’s price rise and fall.
3. Staking and Lending
Staking helps you makee money in a similar way a bank gives you an interest on your credit balance. You will own coins but you are not spending them. You are just keeping them in your wallet, locked inside. Th Proof of Stake (PoS) network will use your coins and make profits. You’ll be rewarded for just keeping those coins in there. The reward depends on the number of coins you have committed as stake.
The network maintains the security and verifies all transactions using stake. No energy is spend using staking and no hardware is required to do so either.
4. Crypto Social Media
You might not know this but there’s a big marketplace on social media that rewards you for curating content there. These rewards can be their own coin or the currency you prefer. All you have to do is create content that generates them business.
You are basically earning money jist like thr pioneers of cryptocurrency did. You aare, in a sense, running your own cryptocurrency. The value of crypto is generated with mining. You get new coins as a reward of mining nbut to do so, you need technical expertise and high investment.
6. Airdrops and Forks
Airdrops are used to market the cryptocurrency by generating awareness. If you are part of an airdrop, you’ll get free coins. You can invest them, trade them, or buy through them in a crypto marketplace. A blockchain might fork if there are changes to the protocol and create new coins and as a reward of being in the right place a t the right time, you get coins.