Top 5 Working Ways to Earn Money from Cryptocurrency
Hey Guys, As you all know Cryptocurrency is on fire these days due to many digital currencies such as Bitcoin, Dogecoin, Ethereum etc. So If you are a complete noob or a beginner then this post is gonna help you to learn What is Cryptocurrency? How to make money from Cryptocurrency? A lot of people are unaware about this amazing thing which they shouldn’t be.
Investment in Cryptocurrency is not always fruitful due to lack of strategies, proper guidance and knowledge. There are some ways to earn such as Short-Term Trade, Trading on various Exchanges etc.
“The most crucial thing is that you should invest in small amounts or the money which you can afford to invest and not put all your money & savings as with profits it contains high risk too!”
So first of all let’s start with the Introduction:
What is a Cryptocurrency?
Cryptocurrency are just like the real currency which we carry in our wallets but the difference is that Cryptocurrencies are in digitized form and the paper money is what we carry and use in our daily lives. Cryptocurrencies help to make secure money transactions online with the help of amazing technology of Cryptography which secures the transaction.
One of the disadvantages or we can say the con of the Cryptocurrencies are that
They are not Controlled or are not headed or regulated by any Central or any High Authority.
Worth & Count of Cryptocurrencies:
Now Talking about the worth or price of Cryptocurrencies there are some popular Cryptocurrencies which are Bitcoin & Ethereum.
While talking about Bitcoin it is currently priced at $48500 which almost cost as much as the cost of a Brand New Tesla. Bitcoin is more popular among users; it was recently also promoted by popular celebrity Elon Musk.
Let’s talk about Ethereum which is priced at $3240 lower than Bitcoin, also less popular among users.
Apart from these, there are many other cryptocurrencies out there in the market such as Litecoin, Binance Coin etc.
Are there any ways to make money with Cryptocurrency?
Cryptocurrencies are digital currencies which are used as a medium of exchange just as real money. Cryptocurrencies have seen good growth over a few years.
There are some amazing ways to earn these cryptocurrencies which are a bit complicated like one of the popular ways is the Trading. You must have complete knowledge about Trading then only you can do trading & earn handsome money with it.
Pros & Cons of Cryptocurrencies:
Some of the awesome pros of cryptocurrencies are that they are very fast and the Transactions made with them are secure.
The transactions are peer to peer and once the transaction has been done it cannot be cancelled by the Sender. Many companies such as Tesla announced to take Cryptocurrencies as their payment method.
Some of the Cons of the cryptocurrencies are that they cannot be tracked by the government. Or any authority. By mistake if you do a transaction to a wrong person then it cannot be reversed at all. There is no law on the functioning of these.
Some people also end up losing their money in big scams & frauds. There are also cases of Hacking.
And the last thing, The transaction charges are a bit high which makes it a disadvantage of these.
Top 5 Ways to Earn Money with Cryptocurrency:
Staking: What is It?
Staking in the cryptocurrencies is the process of buying the tokens of the cryptocurrencies and then setting them up aside for a considerable amount of time period so as to contribute for the security & infrastructure improvement of the Currency and you get compensated for the same.
The compensation rewards are directly proportional to the period of time that you have set your tokens aside for. They can generate a good amount for you.
Once the period of time is over you get your money back which you locked up earlier. It is a kind of fixed interest where you put your money & get interest on that.
Upon all of that, Some cryptocurrencies even pay you a bonus for your participation in the stake holdings such as the APX which provides 2% Extra Bonus every month for your stakes.
Earning Cryptocurrencies by Holding & Buying
OK, So this is a way which I Personally ❤️ very much & have been doing for a long period of time. It is very simple. You have to buy the cryptocurrencies at a lower cost and when they shoot up high just sell them and you can have a good amount of Profit.
You can purchase cryptocurrencies such as Bitcoin & Ethereum. As you can see in the figure below:
Chart Credit: Coinbase
In Sep 2020, The Price of Bitcoin was very much low so you could have purchased some amount of Bitcoins that time and gradually it increased & shot up to the highest in March 2021 when you could sell and earn a good amount of Profit.
This method was very much useful during early 2016 & 2017 when the price used to go up & down.
It has been rising these years. You need to keep an eye on the latest news about the Cryptocurrencies & its prices.
Trading in cryptocurrencies is similar to the Trading in the Stock Market. The cryptocurrency market is very much unexpected. This means the prices of the stocks can change anytime so you need to have a sharp eye on the market and make very accurate predictions to earn your profit otherwise it can lead to losses also.
You need to be very much updated about the market and predict that whether an asset will rise or not your proper knowledge & prediction will only succeed you in this. That’s what Trading is!
Now Airdrops are the guaranteed & best way to earn money which I love personally. It’s an event where the coins or tokens of the cryptocurrency are given away for free such as the Blockchain Airdrops. Some of the coins which you get who knows that their price would shoot up in the future.
One of the examples for it is the Ark which was at first considered a joke and distributed 20 coins to its token holder. & Now those 20 coins have literally a value of 5,000 Bucks Today.
Online Work to Earn Money
You can do freelancing online to earn these cryptocurrencies just as the real money whether you are a Developer, Content Writer, Designer etc. As this is a reliable form of currency. Many companies have set this as their payment method.
They are secure, instant & easy.
So this was the article on How to Earn Money from Cryptocurrency? I have listed all the easy & good methods to earn which I believe from my point of view are good & easy for beginners except Trading. You can start earning easily with these methods.
& Yes, You should not miss the Airdrops they are guaranteed. Who Knows, You may afford to have a Tesla one day. I have provided all the information which has at least made your base knowledge about the DIgital or Cryptocurrencies.
Thank you for Reading the Whole Article! I’ll be posting more useful stuff on this blog especially for Cryptocurrency so keep visiting us.
& I’ll catch you in the next one!