You’ve probably heard of cryptocurrencies (or virtual currencies ), and you’re interested in learning how to make money with cryptocurrencies. Cryptocurrencies are one of the hottest investment topics right now. Many media outlets talk about how people became millionaires after investing in altcoins.
You may have already researched it, but thought it was too technical or complicated. We are here to tell you that this is not true at all! Anyone can earn in cryptocurrency and by the end of this article you can start making money all by yourself.
Read more as we go through these methods together to help you earn revenue in cryptocurrency.
Buy and hold
Buying and holding is a method that many certainly know best when it comes to earning and investing in cryptocurrency. You buy some kind of property (like stocks), let interest accrue, and then sell your property away.
Buying and holding a cryptocurrency has the same idea, but you expect the price of the currency you have chosen to rise so that you can sell it at a higher price than you have actually bought it. This is one of the best and easiest ways to get started on how to earn in cryptocurrency.
Buy Bitcoin or other cryptocurrencies in just minutes on these platforms!
For example, Bitcoin was worth around € 12 in 2013, and the highest price we have seen so far was almost € 20,000 in 2018. This means that if you had bought bitcoins for € 200 in 2013, they would have been worth over €300,000. if they had been sold at their peak! So that would mean a 1,500-fold return on your money , which is almost unprecedented in such a short time in the stock market. This really shows the potential power to make money in cryptocurrency.
If you want to know how you can earn in cryptocurrency by buying and holding, we have some articles for you to familiarize yourself with so you can start this project and get to earn coins!
While there are MANY different types of virtual coins, we recommend that you use one of the above four. These are the safest of all and have been around for some time. If you invest in a new coin, it may be cheap to buy a lot of them, but coins also have a very high chance of simply disappearing. Coins that have been in circulation for some time are not so risky.
Buy and hold dividends
The above strategies and currencies are profitable for you when sooner or later you sell your property at a higher price than you bought it. However, some currencies only pay you to keep them, which makes it a very profitable method of making money. You don’t actually buy or own a cryptocurrency… you keep it and keep it in circulation. Examples of these coins are:
Stacking of cryptocurrencies, ie participation in them
This strategy combines the first two methods we mentioned. Here you have the right to participate in the mining network, so you buy the currency, keep it, and plan to sell it for a profit later. IN ADDITION, you also get dividends from it just by keeping the currency. This is the great secret of making money in cryptocurrency.
Some examples of these currencies are:
Mining
When considering how to make money with a cryptocurrency, mining is one of those methods that always comes up. Mining cryptocurrency is one of the best ways to make money with altcoins because it’s extremely passive: just invest in the device, install it, and let it be mined.
But the only possible problem is investing in equipment. You can extract cryptocurrency without any high-end hardware. Nevertheless: the better the hardware, the faster it will be able to create more coins for you and the better chance you really have of making money. Mining works by having a computer solve complex mathematical problems by calculating, and when they are solved, it is rewarded with a cryptocurrency.
The trick is that as more cryptocurrency is mined, mathematical problems also become more difficult. If you do not have a state-of-the-art system, you may take a LONG time to resolve these issues. You may also need cooling units, extra power, and more to support extraction.
Also, MANY different people are trying to solve the same problem at the same time. If your computer is too slow and someone else solves the problem first, you won’t get anything. This is why investing in a state-of-the-art system is almost always necessary.
Also, you can read: How to make money from Twitch streaming
Day shop
This method is a little more advanced and involves searching for different patterns by browsing virtual currency charts every day. Because the cryptocurrency is quite volatile, the price can change sharply during the day.
One who constantly monitors the price of the currency during the day can make even a very large return by first investing in some coins and reselling them after an hour.
We do not recommend this if you are a beginner or if you do not want to follow charts every day. It is therefore worth considering other options instead. But if you have experience trading or previous experience in cryptocurrency, this may be the EXACT way you can use cryptocurrency to your advantage.
Micro-tasks
If you’re wondering how you can make money with cryptocurrency, you might want to consider micro-assignments. These are small services that you do for someone and are paid for in cryptocurrency. You can fill out online surveys, test apps, fix sites, or something similar.
Cointasker estimates that one micro-task generates an average of 0.00001426BTC, or about 0.85 euros (as of July 2018) and requires about 10 minutes of work.
You can also apply for jobs as a freelancer from sites like Upwork and request payment in virtual currency. However, make sure you follow the terms of use of the site when doing so.
Working with cryptocurrency
As we mentioned in the micro-task section, many employers are happy to pay in cryptocurrency. If you work online or have a job through which you can do this , this is a great way to earn in cryptocurrency.
Blogs specifically dedicated to cryptocurrencies are also happy to pay for writers who want to work on virtual currencies.
Here are some sites you can browse:
Currency arbitrage and exchange rate
Cryptocurrency trading platforms are simply online platforms that allow you to create accounts and log in to buy, sell and exchange cryptocurrencies. But the price of a currency in one exchange rate can be different than in another currency, and the prices of all currencies also always change.
So by following these numbers, you can make a profit: You may buy at a low price on one platform course and sell at a higher price on another platform. You can also buy one cryptocurrency and then invest in another with a lower euro per coin value. This way, you own more coins at all with the expectation that a larger number of coins will make more profit instead of you being left with other coins and owning less of them.
Hanat
You should know that there are several applications and websites that offer bitcoins as a reward for completing the task. These websites or applications are known as Bitcoin taps and there are thousands online. The only problem is that the amount of bitcoins they give is very small and ranges from 100 Satosh (0.000001 BTC) to 10,000 Satosh (0.0001 BTC).
The tasks you usually perform range from, for example, clicking on ads to watching videos and filling out queries. Here is a list of Bitcoin faucets you can look at.
Affiliate marketing
If you have a website or business, this can be a great way to make extra money . Simply put, affiliate marketing is that you get a reward when someone visiting your site clicks on another company’s link and buys one of their products. If the company offers payments in virtual coins, you can choose this payment option instead of the traditional ones.
Trading bots
For day trading strategies, you need to look at charts and the computer constantly, buying and selling manually when the time is right. This involves a lot of work and the use of your own brain to make predictions based on data… not to mention staring at complex economic charts for hours.
When you’re learning how to make a cryptocurrency, this can certainly be exhausting and boring.
As is most often the case in today’s world, this process is automated in a great way: computers can perform thousands of calculations much faster than you or me, and use algorithms as well as data processing to predict cryptocurrency pricing strategies.
By investing in a crypto trading bot, you can automatically get a machine to buy and sell at the right time based on thousands of grains of data instead of having to manually guess or look at the screen 24 hours a day. The bot handles the trading for you.
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