As each person aims to earn money and be wealthy enough, doing that from cryptocurrencies, on the 21st century seems the best and easiest way. Consequently, as trying to give you a hand, in this article I am going to reveal some of the best ways on making money from the Crypto Industry.
Personally, if I’ll be straight forward, using some of these ways has brought me much profit. Nonetheless, equal with the idea of making money, you should also be attentive to scams – being aware that in a decentralized area as for instance cryptocurrencies, the possibility of you finding yourself scammed is at a very high-level.
Starting with the easiest and simplest way:
1. Analyzing, Buying and HODLing
Being aware that crypto area is a much extended one, one way in which you can consider yourselves safe is to first analyze and then purchase good cryptocurrencies that own an essential usecase. After choosing the right ones, lastly you should hold them until they secure a fair market share. For instance, cryptocurrencies like:
- Bitcoin (BTC)
- Ethereum (ETH)
- NANO (NANO)
- VeChain (VEN)
- NEO (NEO)
- Stellar (XLM) etc..
..are frequently considered safe buys. The one mentioned above are mostly suggested to be bought and held for a longer term only because they are bound to appreciate against the fiat pairs of USD, EUR etc. Yet, it’s not a must, to only focus on these six, but for an investment advise this could be considered as a great example of how to choose the right cryptocurrencies for yourselves.
2. Buying & Holding Cryptocurrencies that Reward You Regularly
A smart move that it’s necessary to be kept in mind while having the intention to earn money through cryptocurrencies is to buy and hold cryptos that reward you regularly. Having it easy to access some main cryptocurrencies that pay you great deal just for holding them and it is not even mandatory for you to stake them, especially in a wallet. The crypto industry offers many of these cryptocurrencies, such as:
3. Staking Cryptocurrencies
Doing much research and analyzing with our team on Ethereumworldnews.com, we came to a conclusion that staking cryptocurrencies is a great way of earning money because you not only benefit of price appreciation for keeping good crypto coins but also you get the additional reward as dividends for staking the coins. To explain better, staking is basically holding cryptcoins 24/7 in a live wallet, consequently earning new additional coins as a reward for staking and giving security to the blockchain network. Some noteworthy coins related to staking, can be considered:
- NAV Coin
When thinking on a more general way of earning money, running masternodes of cryptocurrencies can be selected as a good way for passive income on the crypto industry. The notion ‘Masternode’ is merely a cryptocurrency full node or simply a computer wallet that holds the full copy of the blockchain in real-time, for instance, when you have Bitcoin full nodes; and is mostly up and running to perform certain tasks.
Various cryptocurrency companies pay the masternode owners for performing tasks that were mentioned above. Nonetheless, you should always keep in mind that to run a masternode you must have a minimum number of coins to start. The minimal amount to get started with a masternode is usually in the range of 1000 to 2500 coins, but it mostly depends on the company, mainly because various cryptocurrencies go with different strategies.
Some currencies that have put masternode in function are:
- VeChain Thor
5. Day Trading Cryptocurrencies
If you are nearly an expert at technical charting at different intervals in the day, this method not only will help you become a full expert on trading but also can be considered as one of the best ways to earn money. You have the chance to trade various cryptocurrencies on many different exchanges such as:
- Binance (Recommended)
The main idea of all of this is “Buy low and sell high”. This technique can be applied easily for a technical charter person because crypto, being not such a stable market, can fluctuate 20-50% in a day depending on the picking you focus.
6. Working For Crypto
If you have experience on writing, developing, testing or designing working for cryptocurrencies is a relevant way of earning. You can begin making money in cryptocurrencies immediately after exchanging your services for it.
Some of these platforms and websites that offer you Bitcoins in exchange for your service, are:
On this way you can have dual benefit such as earning cryptocurrencies and also benefit from the price appreciation that cryptocurrencies on the whole are witnessing over the past few years.
After analyzing and testing with our team, our advise is that you can always start by working for these cryptocurrencies:
7. Accepting Cryptocurrencies if You Are a Vendor
If you are a vendor, a good way to earn cryptocurrencies is if you accept them in exchange for your services or products. There are many cryptocurrencies that you can access and also Bitcoin payment processors, that as a vendor help you to accept cryptos.
Worth to be mentioned:
E-commerce websites and online businesses owners can adopt this way, on this way getting a double benefit of crypto price appreciation and also earning cryptos directly.
8. Blogging On Cryptocurrency Websites
If you are a good writer, your content is preferred by the readers, and also know how to use blogging, you can easily earn money by using these both on websites that have a chance on paying you in cryptocurrencies.
If your work is important on crypto market, you can also monetize your work for cryptocurrencies for allowing readers to have access on your content. Some of these websites are:
Last but not least:
As mentioned just in the beginning of this article, you should always be attentive to scams and also illegal MLMs (Multi-level marketing). Even though they can be very promising when speaking for high returns, all they can give you is loss. Best recommendation would be to not get involved with these schemes and always try to earn legally. Last scam to be taken as an example is Bitconnect MLM scheme that came down crashing in one day.
We will again be back with more additional information and advises on earning in legit and secure ways; until then stay tuned to Ethereumworldnews.com and try to stay out of trouble.
Source: Read Full Article