7 Ingenious ways to make money using cryptocurrency
Cryptocurrency is an encrypted data string that denotes a unit of virtual or digital currency. It is monitored and organized by a peer-to-peer network called a blockchain, which also serves as a secure ledger of transactions, e.g., buying, selling, and transferring. One of the most important reasons why cryptos are flourishing that it is nearly impossible to counterfeit or double spend, this is because it has a unique set of complex intricacies to be solved in a block for every transaction. Check . Cryptocurrency is a tradable digital asset that is decentralized, which means it is not own owned or controlled by any person or group or even government. So, it doesn’t have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.
There are thousands of crypto currencies available in the market some well know examples are Bitcoin, Dogecoin, Shiba inu and Ether. People who believe in the potential of digital currencies mine or invest in cryptocurrencies by foreseeing the high returns they can make in the near future. Is it too late to invest in crypto’s? No! Better late than never! Here are some major ways to make money using cryptos! They are Mining, Investing, Trading, Affiliate programs, Staking and lending, Crypto social media and airdrops and forks.
- Yield farming is a little more complicated, but not that different than staking. Yield farmers add funds to liquidity pools, often by pairing more than one type of token at a time. For instance, a liquidity pool that pairs the Raydium token with USDC might create a combined token that can yield a 54 percent APR (annual percentage rate). That seems absurdly high, and it gets stranger: Some newer, extremely volatile tokens might be part of yield farms that offer hundreds of percent APR and 10,000 to 20,000 APY. The rewards, which add up 24/7, are usually paid out as crypto tokens that can be harvested. Those harvested coins can be invested back into the liquidity pool and added to the yield farm for bigger and faster rewards, or can be withdrawn and converted to cash.
- Investing cryptos are also known as HODLing ( acronym for Hold For Dear Life). This is the most common way of earning money from cryptocurrencies. Most investors buy coins such as Bitcoin, Litecoin, Ethereum, Ripple, and more and wait until their value rises. Once their market prices rise, they sell at a profit. This investing strategy requires one to identify more stable and volatile assets that can shift in value rapidly, resulting in regular profits. Assets such as Bitcoin and Ethereum have been known to maintain regular price fluctuations; they can, therefore, be considered a safe investment in this regard. However, you’re welcome to trade any asset you feel is going to rise in value; all you need to do is to analyze each asset you invest in before committing to HODLing it. Also, you don’t need to buy the most expensive assets for you to make profits. There are thousands of small altcoins that have decent price shifts; consider having a mix of all coins that have a promising future value and are not just popular in the exchanges. For example, safe wallet like is a platform to HODL your cryptos safe and secure.
- Similar to the mainstream trading of equities and commodities, trading of cryptocurrencies is one more way to reap money from cryptocurrencies by making use of the market fluctuations (Buying when the market is down and selling them at a higher rate later). The act of speculating on cryptocurrency price movements via a contract for difference (CFD) trading account, or buying and selling the underlying coins via an exchange is known as cryptocurrency or crypto trading.
- Similar to Amazon affiliate program, Bitcoin and crypto affiliate programs offer a powerful way to monetize your crypto specific audience. Whether you run a popular blog, news website, YouTube channel, or Twitter account, crypto affiliate programs can bring in a recurring revenue stream that can be relied on for months and sometimes years to come. Some of the renowned platforms that provide these affiliate programs are Binance, CoinLedger, CoinBase.
- The airdrop is a promotional activity typically performed by blockchain-based start-ups to help bootstrap a virtual currency project. Its aim is to spread awareness about the cryptocurrency project and to get more people trading in it when it lists on an exchange as an initial coin offering (ICO). Airdrops are generally promoted on the company’s website, as well as on forums, and the coins or tokens are sent only to current holders of crypto wallets, usually those of bitcoin or ethereum. To qualify for the free gift, a recipient may need to hold a minimum quantity of the crypto coins in their wallet. Alternatively, they may need to perform a certain task, such as posting about the currency on a social media forum, connecting with a particular member of the blockchain project, or writing a blog post.
So, are you interested in cryptocurrency investments or looking for safe and secure crypto wallets? Well your search ends here! contact for more details.
Originally published at https://www.bsetec.com on May 23, 2022.