Nowadays, we hear about cryptocurrencies all the time. Digital currencies change the way we live, becoming a widespread payment method, a good investment, or a way to get passive income. However, not many people know the ways to earn with digital money. We have listed the most common methods of making money on crypto for you to check. Let’s have a look!
It is widely believed that daily trading is the only effective way to earn money with cryptocurrencies.
Despite this, most investors don’t realize that day trading involves more than just holding assets till their worth goes up. You have to learn a lot to become a day trader, but most notably, you should be an expert on the analytical aspects.
Market charts are essential for analyzing assets’ performances. This is probably the most challenging but rewarding way to earn from cryptos.
Day trading can be done on any exchange today. All you need to do is register, analyze the market, purchase some assets, and you’re ready to go.
You can start with a crypto exchange like CEX.IO, a robust platform with multiple products. This is one of the best places where to buy bitcoins with credit card.
Those who are planning to be day traders should master the technical and fundamental analysis of stocks since they are widely used to analyze digital assets as well.
One of the ways digital assets could bring you profit is crypto staking. It offers the potential to earn money both by receiving the staking rewards and by price appreciation of those coins.
A crypto network with a proof-of-stake approach is secured by locking coins in your live wallet, which gives you in turn the opportunity to earn extra money.
The stake-able coins examples include:
The results may differ here since the less wealthy members can be effectively crowded out of a network.
A robust cryptocurrency exchange CEX.IO offers you a simple way to gain money. You just need to register, deposit or buy stake-able coins on your balance and get rewards.
Earning money with HODLing cryptocurrencies is a widespread practice. It is a common strategy among investors: put money in virtual assets such as Bitcoin, Ripple, Bitcoin Cash, ATOM, Litecoin, Ethereum, and others and wait for the currency value to increase. When the price of the assets grows, it is possible to profit from their sale.
You need to mix rather stable assets with dynamic ones (with the ability to change quickly in cost) in order to make regular profits using this strategy. For this reason, a safe investment can be considered Bitcoin and USDC, since one of them is volatile and the second is pledged to the value of the US dollar. Nevertheless, you can invest in any asset you believe is going to increase in price as long as you analyze it thoroughly before you HODL.
Several crypto projects offer rewards for simply holding their tokens. One of the best things about these dividend coins is that users do not even need to stake them, particularly in a wallet. Instead, tokens like COSS, KUCOIN, CEFF, etc., provide dividends. So all you need to do is to buy digital money providing dividends and hold it in your wallet for a certain period (month, year). The more you keep, the higher are the rewards.
There are many ways to earn money with the digital economy. A cryptocurrency company can employ anyone in any capacity, such as digital marketers, content creators, and designers. It only takes identifying their needs and showing them how your skills can provide a solution.
If you work for crypto platforms, you’re likely to agree for a remote position, allowing you to choose your own hours and location.
If you are fortunate enough to stumble upon a legit crypto firm providing competitive packages, you should not hesitate to contact them.
Some examples of platforms that pay employees for services in digital assets include:
Companies offering digital currencies as compensation, in turn, allow their customers to earn more than double the value of their earnings within a few days or hours.
Mining is the process of verifying network transactions for rewards and is used by Bitcoin and other crypto assets that use the proof-of-work consensus. Litecoin, a less known cryptocurrency than Bitcoin, can still be mined even though mining BTC has become expensive and energy-consuming. As well, proof-of-work coins are Ethereum (ETH), Dogecoin (DOGE), Dash (DASH), etc.
The type of digital currency you mine will determine whether you can use your CPU, a dedicated GPU, or specialized hardware to mine.
It’s no longer a secret that content has become one of the best ways to communicate any kind of message to your existing or potential customers. An inspiring text message with an impressive visual can be the best way for you to introduce a new product or service.
Considering that the crypto sector is primarily virtual, content marketing plays a huge role in the sector. Therefore, it may not be possible to reach your target audience by conventional marketing methods. Creating cryptocurrency videos, infographics, and written content for various cryptocurrency brands is where the opportunity lies.
In the cryptocurrency space, Yours, Y’alls, and Steemit are among the websites that offer content creators regular gigs.
In the cryptocurrency sector, prices, asset valuation, and other factors are mainly unregulated. The price of the assets is determined by users activity on every separate exchange, and this has eliminated the difference in volatility and liquidity of assets. If well researched, those who buy from cheap suppliers and sell on overpriced exchanges can make money from these price variations. That’s pretty much how arbitrage works.
There are various exchanges that offer price spreads between 5% and 30% if you know where to look. Compare different platforms’ asset prices and sign up on different ones so you can find any significant variations. But remember about the transaction fee you pay when transferring crypto from one place to another.
We have made a list of the most common possible ways that can come in handy if you own some crypto assets and want to multiply your holdings. It is up to you to decide which one is the most suitable for you, coming with the highest potential to earn and the lowest possibility to lose money. Wish you good luck in your crypto goals!