7 Best Ways To Make Money With Cryptocurrency
Earning money online has never been easy, but things have been different since the advent of Bitcoin, Blockchain and other cryptocurrencies.
Here are the 7 best ways to make money from cryptocurrency:
One of the easiest ways to make money with cryptocurrency is to buy good coins and store them. With a coin that has good fundamentals, it will definitely increase its value over a period of time.
You should accumulate your coins for 6 months to 2 years before withdrawing.
Tips: after this time, you should withdraw all the original to preserve capital.
Staking is another great way to make money in the cryptocurrency industry. Under this method, you only need to buy and keep your cryptocurrency in a crypto wallet to make periodic interest.
For example, if you deposit into NEEBank with NEE as a form of staking, you will receive an interest rate of 24 – 48%/year. Besides, if this coin becomes more popular, its price will rise over time.
Like a traditional loan, a bank that lends money to a customer will calculate the loan interest rate. The same is true for cryptocurrency, you can lend to someone your coin (BTC, ETH, XRP, NEE, …) to receive interest from that person.
Some lending services that you can refer to are:
- Binance Lending
Cryptocurrency mining is a popular term in the cryptocurrency market and is also a way that investors often choose.
However, this mining requires a sizable and serious investment. Because you need to invest in powerful equipment like ASICs or GPU rigs to mine.
In addition, the cost of electricity and cooling equipment is enormous. Due to such barriers, the mining task has become limited for individuals, only available to mining farms or cryptocurrency mining professionals.
If you find that investing in this way is quite expensive, you can refer to the form of cloud mining, with lower costs, but I recommend not using this method because of its low profitability.
Like stocks, cryptocurrencies are actively traded on exchanges.
Crypto exchanges in the world:
The rule of immutability when trading is always to buy low sell high, you research, analyze, make predictions for potential currencies and the desired return.
6. Invest in IEOs
An IEO (Initial Exchange Offering) is a modern method of fundraising.
The IEO will open and sell project tokens for investors to participate in buying. But making money investing in IEOs or selling IEOs is not easy because you need to take the necessary steps when investing heavily in IEOs. One of these is:
The feasibility of the project
The capacity of the development team
You can make money blogging or writing articles on websites that pay you with cryptocurrency if your content is liked by readers ..
Some websites that allow you to do so are:
- YouTube (For video)
It seems that making money from cryptocurrency is not difficult. As long as you choose a way that suits your desires and circumstances, focus on your research and make a small investment in time or money, you will get results.