Cryptocurrency is among the hottest topics in the modern financial industry. Because of its complicated structure, very few people understand the working of crypto coins. However, this does not prevent them from asking how to earn from Cryptocurrency.
This is because crypto coins, be they the ones you get by buying cryptocurrency australia or elsewhere, are among the most lucrative investment option for investors around the world. To make things simpler, we have discussed some of the keys ways of earning from crypto for beginners in this article.
Best Methods to Make Money With Cryptocurrencies
These are the options that we’ve covered here:
- Buy and Hold
- Hold Cryptocurrency for dividend rewards
- Mining Cryptocurrency
- Day Trade
- Work for Cryptocurrency
- Sell for Cryptocurrency
Related: Updated Cryptocurrency List
Buy and Hold
Buying and holding is a useful technique among investors of all kinds. Typically, this technique applies in real estate where investors buy properties and hold onto them until they can make higher returns.
The same is the case with the crypto buyers. The investors buy crypto coins and hold onto them until they increase in value significantly.
What does a crypto prediction worth?
Cryptocurrency is a highly volatile asset due to which its price fluctuates more than fiat. Therefore, investors need to keep track of predictions made by crypto-experts to make the right investment.
Consulting with experts directly is another excellent way to gain information on how to earn from crypto.
Tip: To gain high returns, we will recommend you to invest in top coins like BTC, BCH, Ripple, and ETH.
Hold Cryptocurrency for Dividend Rewards
Different crypto-coins like USDC, VET, and XEM have been recently introduced into the market. The majority of such coins wants you to be their promoters and will pay you for your services.
You are only required to buy and keep the new coins in your digital wallet. In return, they will pay you extra coins. The reward you receive will depend on the time you held the coins in your digital wallet. This is an excellent tip for those asking how to earn from Cryptocurrency. However, there is one risk involved with this approach: many new crypto-coins offer such rewards, but there is a possibility that the currency may not be able to survive in the fierce market. Therefore, you should do thorough research before buying such coins.
Cryptocurrency is mined on the same principle as silver and gold. The only difference is that it is mined using computers instead of machines.
A network of fast computers is assigned to solve complex computational problems to mine cryptocurrency. The more frequent problems are solved, the more quickly the coins are generated.
There are various types of dedicated computers designed to mine cryptocurrency. The whole mining kit includes high-electricity miners, cooling units, and more. Amazon has plenty of these computers available, which you can easily order online.
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If we talk about expert-level crypto-currency traders, they earn substantial sums through day trading. They know how to interpret the charts, which lets them know the upcoming trends of the crypto-trades. All this knowledge makes them the master advisors for the individuals asking how to earn from Cryptocurrency.
Should I step into day trading as a beginner?
Being a beginner, you are at high risk if you open a day trade on your own. We strongly discourage day trade practice for beginners. There are many other ways through which you can enter the lucrative cryptocurrency market.
Work for Cryptocurrency
Various freelance sites send salaries into crypto-wallets. You might already be familiar with many dedicated platforms that offer pay in crypto.
Working for cryptocurrency means you sell your skills to the companies that are willing to pay you in digital coins.
You may work as a freelance writer, web-developer, or a graphic designer to get paid in crypto. In addition, there are many other freelance jobs that you can find over these platforms as well.
Here is a list of some dedicated platforms that you may find helpful:
Other than these, there are many other platforms on the internet that can help you learn how to earn online cryptocurrency in 2020.
Sell for Cryptocurrency
There is a very small amount of merchants who sell their products/services for cryptocurrency. On the other hand, there is a big market for traders who rely on crypto-trading. You can contact such businesses to earn cryptocurrency. You will sell your goods/services to these businesses and get paid in cryptocurrency.
Various micro-level tasks won’t take more than ten minutes to complete and can help you earn Bitcoin. On average, you are paid more than 10,000 Satoshi for completing a minor task.
According to a survey, an average task pays 0.00001426 BTC, which is equivalent to 0.8 dollars at the time of writing this article.
Bitcoin being the first-ever Cryptocurrency offers more opportunities for those asking how to earn from Bitcoin as most of the crypto-affiliates make trades and investments take place in Bitcoin.
Final Thoughts – How to Earn from Cryptocurrency?
All these ideas will open ways for you to learn how to earn from Cryptocurrency. You should start preparing yourself to make the best use of the crypto-market. People assume that crypto-market is just like a casino. However, this is not the case. It is a full-fledged market with expert predictors, investors, freelance crypto-workers, and many more.