When people invest in cryptocurrency, they’re trying to make money. However, not everyone ends up turning a profit. Unfortunately, due to the volatile nature of cryptocurrency, many people either give up on it or fall prey to scams. Those that do manage to make successful investments in cryptocurrency will want to ensure that they do not lose their investments after passing on. With this in mind, you can see more information here about how cryptocurrency can be left to your family by including it in your will or family trust.
However, despite the volatile nature, there are plenty of ways to earn money through cryptocurrency while mitigating the risk. Those starting out on the cryptocurrency journey and looking for an easy way to buy Bitcoin and crypto – you can click here. With this in mind, we’ve collected nine proven and legitimate methods of making money on cryptocurrency.
Accept Crypto as a Payment Method
This one’s a no-brainer. If you own a business, you should start accepting cryptocurrency as a payment method. Not only will you open up your market globally, but you will also help to facilitate the crypto revolution. The more merchants that accept cryptocurrency, the more commonplace it will become.
Once you’ve got your system up and running, you should run a test purchase and put operations into practice before going live. To do this, we suggest starting at Paxful, where it’s easy to buy Bitcoin with PayPal or other modes of payment. Once you’ve got your coins, you can store them in the free Bitcoin wallet before buying through your store. Then, when you’ve finished checking your system, you can sell your remaining Bitcoin through their peer-to-peer network.
Cryptocurrency faucets aren’t that widely known. However, if you get it right, you can generate some serious income. The most common are Bitcoin faucets. They are websites that offer rewards in Satoshis (fractions of Bitcoin). All you need to do is perform simple tasks, including clicking through links and solving captchas. To earn a lucrative sum from crypto faucets, you will need to complete a large number of tasks. However, it’s not all as dull as it sounds – you may find yourself playing gun games.
Depending on your investment portfolio and aims, you can invest in cryptocurrencies and earn dividends. There is no effort involved in this method, all you need to do is choose a legible cryptocurrency, invest the money and hold. There is no need to stake your coins or risk losing.
Not all cryptos coins offer dividends, but our default is Kucoin. This coin is unique because it safeguards buyers from market fluctuations. Typically, the Kucoin exchange shares around 50% of charges as dividends. Our advice, buy and HODL to make an awesome return on your investment.
Through certain blockchains, you can earn money by staking your cryptocurrency. Simply put, all this entails is putting away some of your cryptos in a live wallet for a set amount of time. By doing this, you are holding up the blockchain and preventing it from collapsing. Although you need to lock a portion of funds, you will be compensated with more crypto. Typically, crypto staking can be just as profitable as trading and mining.
Day trading is considered by some to be the only way of making money on crypto. On the surface, day trading involves investing in money and holding it until the market favours a return. However, there’s more to the process than that. If you wish to make money through day trading, you will need to learn how to analyse data on performance listings. Making a profit through day trade is arguably the most profitable method, but it’s the most involved. If you wish to start day trading cryptocurrency, you should be aware of the risks and master the art of fundamental and technical analysis.
Behind any cryptocurrency is the blockchain, and behind the blockchain are nodes that maintain it. Unlike nodes, master nodes don’t add blocks to the chain. Instead, they’re concerned with verifying new blocks and voting in changes to the blockchain. Anyone can run a master node, but you need to have the technical know-how and enough crypto to pay the stake. Running a master node takes time, therefore, operators are compensated at a defined rate of pay. If you wish to find out more about master nodes, you should take a look at the DASH currency.
You probably guessed it, but HODLing is crypto jargon for holding and stands for “Hold On (for) Dear Life”. In English, it means holding onto your cryptocurrency investments regardless of value fluctuations. You don’t have to keep your investment in one coin; you can transfer it to other cryptos as the market shifts. There are thousands of different coins, so analyse the entire market before making decisions. Eventually, through shifting assets and HODLing your coin, you will make money.
Get Employed by a Crypto Business
The cryptocurrency space is enormous, so it’s easy to be employed at any level of the chain and make money in digital coins. Common roles include web design, content creation, and digital marketing. The best way to get employed by a cryptocurrency business is to analyse their needs and offer to fill a gap. Crypto firm positions are a lucrative but competitive space. Therefore, if you come across the opportunity, don’t pass it up. Not only will you earn handsomely, but you will also benefit from working remotely.
Microtasks are a great way of earning a small amount of cryptocurrency completing bitesize tasks in your spare time. There are plenty of tasks including survey completion, watching videos, testing apps, and simply viewing ads. Although you won’t turn a huge profit in this space, if you do it for long enough, you can build some significant coin. So, the next time you’re blindly binging Netflix, head over to Coinbucks, Bituro, or Bitcoin Rewards to start earning on the sly.
Cryptocurrency is gaining popularity as more people try to make money. Although there is a profit to be had in buying and trading, most people don’t have the patience or become scam victims. Luckily, there are plenty of ways to earn cryptocurrency without taking the risk. You can complete tasks in your spare time or get a job with a crypto firm, among other methods. Depending on how much time and skill you have to invest, you can come away with a lucrative cryptocurrency pot.