Cryptocurrency has become widely popular over time, and it has become a buzzword around many hubs as a way of making money, and who doesn’t want to make money? Not everyone who gets into crypto makes money which causes some people to change heart about it or fall into a series of scams.
Unbelievably, there are many proven ways to make money from crypto, and without knowing them, that can help you get a passive income or get the financial freedom you want. Explore with us how you can make money in the market and choose the best one for you.
Way 1: Buy and hold
This is one of the simple and easy ways to make money for beginners. It involves buying a coin, holding it, or called in the crypto world HODL (hold on for dear life). You buy a coin and don’t sell for some time, hoping the coin’s value will rise, which can take time ranging from days to years. Once the value has gone up, you can now sell and make your profit. This method is suited to people looking for a long-term investment.
Way 2: Staking cryptocurrency
This means holding or locking coins in a live wallet which allows you receive a reward to validate transactions. It is proof of stake for the digital assets that will enable you to earn through dividends and price rise. Not all coins can be staked but staking you gets you profit without doing anything.
Way 3: Trading
Trading requires skills and understanding, or it can result in loss. Trading is a fast way to make money, unlike buying and holding for a long time, trading involves buying and selling fast to make a profit. It requires analysis of the coin before buying or selling.
There are different ways you can trade easily to make money: day trading, in which the traders do not hold a coin overnight. It involves careful planning and its small returns and fast-paced, resulting in a substantial cumulative return. There are swing traders who buy low and wait for the coin to rise before selling.
Lastly is arbitrage trading, which involves buying from a different exchange and selling for high on another exchange. This can be tedious, but with an automatic system helping in trading, it can be easy. A platform that can help is the bitcoin rush trading platform to help with your trades.
Way 4: Accept bitcoin as payment.
Bitcoin is widely getting accepted, and people are using it as a form of payment now. If you have a physical establishment or a creative working online, you can request or start accepting crypto payments. The funds can be kept as an investment for the future.
Way 5: Pay-to-click websites
Some websites reward you for doing small tasks on their platforms, like clicking on ads or watching videos. The task can be tedious and takes a long time as the reward can be small to make significant money. The tasks can be answering surveys, app testing, and most pay in bitcoin. Coinbucks and bituro are good examples of such sites.
Way 6: Binary trading
This works on the probability of the price going up or down of a particular coin. It is a two-option thing in which you can bet if the price will go up or go down, and your betting earns you a reward for your investment. For example, if you say the price will increase and it does, you gain a certain percentage of your investment, and you being wrong means you lose a portion of your investment. It is an easy way to make money with good analysis.
Most people only think trading is the only way to earn in crypto, and it may have resulted in an unwanted experience and loss of funds.
Knowing there are many ways to earn in crypto, why don’t you try them out and find out who works best for you and have the financial freedom you always wanted.