You may have decided to earn more money with cryptos but can you be sure of it? Cryptocurrencies are known for being notoriously volatile and sudden price swings can leave investors baffled and helpless. Moreover, frequent exchange hacks and scams often force people to give up their hopes of making profits through cryptos. However, at the same time, there are indeed some tried-and-tested ways to generate revenues through cryptocurrencies.
10 Easy Ways you can Make Money with Cryptocurrency:
- Buy and hold: The easiest way to generate more money from cryptos is to buy coins like Bitcoin or Ethereum and hole onto them until their prices have escalated as predicted. When the desired price level is reached, they sell these at profits. This is why it is best to choose stable coins like Bitcoin which have bounced back in values even after crashes.
- Earn crypto dividends: Are you aware that there are coins which will pay you if you hold onto these? You ae not required to stake such coins particularly in a wallet; for example, CEFF, COSS, KUCOIN, etc. However, not all such coins will be suitable for your portfolio; so, it is wise to evaluate them beforehand.
- Run crypto master nodes/ mine cryptos: Mining is a tried-and-tested, passive way of earning as these nodes will maintain real-time records of activities taking place on native blockchains. Whenever miners can successfully mine a block, they get rewarded in cryptos.
- Day Trading: Almost 80% of investors feel that the best way to earn more money with cryptos is to day trade. However, day trading can be tricky if you are a novice. It demands skills and analytical power; you should be able to analyse charts and graphs.
- Stake cryptos: This offers twin-earning potential vis-à-vis price rise and dividend pay-outs from chosen coins for staking their digital assets. So, in this, you can hold certain coins in live wallets, and earn extra coins because you secure a specific crypto network. Examples are PIVX, NAV Coin, etc.
- Do micro tasks: For those who have some extra time on their hands, it is possible to earn more money by engaging in micro jobs. Such tasks can be as easy as watching ads or taking surveys from sites like Coinbucks and Bitcoin Rewards.
- Freelance work: If you have skills as a freelance web developer, digital marketer, web designer, or writer, why not use it to get paid in cryptos? For this, you simply need to showcase your talent and demand payments in cryptos. The biggest advantage of working with crypto platforms is you can easily work from home.
- Arbitrage: Since the crypto sector is primarily unregulated, it leads to major difference in product prices and asset valuations. But, if you ae a smart trader, you can research prices offered by different exchanges and buy only from cheaper sources to sell these at profits on exchanges that are over-priced. Arbitrage refers to profit-making from such price differences.
- Crypto faucets: The most well-known are Bitcoin faucets that allow you to earn Bitcoins when you complete specific tasks. These can be easy like playing games, viewing ads, or watching videos for which you get a portion of BTC as reward. But, you must aim to do many tasks to earn a sizeable profit.
- Write to earn: If you have writing skills, you can start earning easily because crypto platforms need regular blogs to launch their products. Their products are typically virtual and one cannot use traditional means to target audiences.