The rise of cryptocurrencies as the most sizzling way of investment has taken many by surprise. As a result, people are taking a tremendous amount of interest in discovering how to make money with cryptocurrency.
The ways to earn extra bucks from this industry are indeed literally endless. In this article, however, we’ll take a look at the most proven ones to help you build the right understanding.
Of the ways below, we have personally used some for profits and the results were astonishing. But before diving into this industry, you must be aware of the scams as well because, in a decentralized space such as cryptocurrencies, the chances of you getting scammed are very high.
Become a crypto miner
Becoming a crypto-miner is the easiest and most obvious way to make money from digital currencies. It’s like producing magic money from your home computer. Is there anything better? Definitely not!
However, whether you are focused on mining Bitcoin, Ethereum, or any other currency, you’ll need to consider essential factors such as expensive mining equipment, electricity costs, hardware configuration knowledge, and the physical space to operate.
Also, make sure to do your homework on your desired crypto to mine. You don’t want to put all your resources into failing crypto and end up broke while trying to make money from cryptocurrency.
The risk in this approach is fairly high while the amount of income ranges from medium to high.
Buy and HODL
The term HODL is slang in the crypto world for holding the cryptocurrency rather than selling it. Buying and HODLING is the most common way to make money from crypto. It involves buying digital coins and waiting until their value rises. Once they rise in price, the owners sell them at a profit.
Bitcoin, Ethereum, Ripple, and Litecoin are the most popular cryptos among buyers.
This approach requires you to invest in coins that can shift rapidly in value and generate quick profits. Bitcoin and Ethereum are two of the most volatile cryptos as they can maintain regular price fluctuations. Therefore, these two can be considered as safe investment options. However, you are welcome to commit to any coin that seems profitable to you.
Also, buying the most expensive coins isn’t what guarantees success. There are countless small altcoins with a decent price shift and a promising future. Thus, our advice is to explore your options before making any decision.
Trade crypto on exchanges
Trading crypto on exchanges is a great way for those who don’t know how to make money with crypto. It requires minimum effort and is a bit risky. The best way to make money from this approach is to buy crypto when the price is low and sell it as soon as it goes high.
In fact, all the successful traders spend a considerable amount of time learning the benefits and pitfalls of this process before making any investments. You should also do the same if you are intrigued by the idea of earning money with crypto by trading on exchanges.
The risk in this approach is high and so is the income.
Work for companies that pay in cryptocurrency
This is a very common way to earn money from the crypto industry. Many companies pay in crypto and anyone can work for them in any capacity. You can be a digital marketer, web developer, graphics designer, blogger among other things to earn money that way. All you need to do is identify their problems and show them that you have the skills to provide the right solutions.
The best thing about working for such companies is that you will have a flexible schedule along with the benefit of working from your place.
Besides, the legit crypto paying firms offer very handsome packages. So, if you happen to come by a chance to work with one, don’t hesitate to take the opportunity.
Coinality, Angle.co, and Coinworker are few examples of such firms.
Sign up to crypto faucets
Crypto faucets aren’t very popular, but they are an effective mean of earning money through digital coins. Essentially, they are a reward system that runs in the form of a website or a mobile app to reward qualified users in crypto.
The most popular crypto faucets are the Bitcoin ones. These faucets pay in Satoshi which is a hundredth of a millionth BTC.
To earn money from faucets, you will need to complete tasks as per the requirements of a website/application. The tasks may include playing games, watching videos, leaving reviews on products, and viewing certain ads.
Each completed task earns you a small share of cryptocurrency and you will need to complete quite a large number of tasks to earn money in bigger sums.
Become a crypto writer
Writing on cryptocurrency is another cool way to make extra money. However, this will require you to have deep knowledge and knack for words on the matter.
Due to the increasing popularity of digital coins, more and more websites are looking for individuals who can write in this industry. Plus, they offer great packages to the right individuals. Hence, finding an online platform where you can write on crypto could take your earnings to a whole new level.
To kickstart your crypto-writing career, build a content writer profile on globally renowned platforms such as Upwork or Freelancer.com. These have thousands of clients looking for crypto writers and you are more than likely to find an appropriate employer for yourself quickly.
Checking out the “Careers” section in major crypto websites can also be a helpful option.
So, these are some of the ways that enable you to earn money with crypto with ease. We encourage you to try the ones that work for you. And if you have already given a shot to one of the above or different methods, please share your experience with us in the comments below.
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