In the world today, cryptocurrency is one of the fastest-growing digital assets that have made a lots of young youth around the globe to become millionaires. Cryptocurrency is backed by the blockchain and enabled for trading, it effectively offers multiple means for anyone looking to make a good money online.
About few years ago, several big players in the tech world opined that cryptocurrencies would quickly disappear, and that as a very wrong assumptions because crypto has lasted than expected and has also become relevant in the digital world. Note that, Bitcoin and other cryptocurrencies have seen some swings in value, especially since the World Health Organization declared COVID-19 a pandemic on March 13, most people who invested in cryptocurrencies a few years ago have reaped a lot of financial rewards as of today.
Note, Cryptocurrencies –Bitcoin and alternative coins – were among the best performing asset classes in 2021 as more investors jumped into the crypto market trying to capture growth from digital investments that have the potential to increase in value in the long run.
Today, cryptocurrencies are inherently risk assets that are prone to wild price swings and this is one among many risk factors that crypto investors must consider if they want to be profitable investing in this emerging asset class that now has a total market value of more than $2 trillion. Remember that Investing in digital assets is not all that different than investing in traditional assets like stocks and bonds.
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The rise in the value of Bitcoin over the past decade, and new alternatives like Ethereum and Litecoin springing up in recent years, cryptocurrency, as a whole, has become an investment category that more are considering. And if you’re new to the asset class, however, you may be wondering just how to make money with Bitcoin or other cryptocurrencies.
Now let me shock you, there are numerous ways to potentially make money with cryptocurrency, below are fundamental investing strategies to keep in mind while managing your crypto investments.
1: Crypto Lending
The best way to make some additional coin from your crypto investing activities is to get into cryptocurrency lending. This Crypto lending basically involves a borrower and a lender, and an agreement between the two. We have several platforms that facilitate crypto lending, including Nexo, SALT lending, Blockfi, Oasis, and Celsius.
However, cryptocurrency loans involve a borrower who offers their own crypto holdings as collateral, a lender who accepts the terms and offers either cash or another cryptocurrency, and an agreement that the borrower will pay the lender interest.
The lender and the borrower in a crypto lending agreement are both individuals, not institutions like banks. The key point is that a cryptocurrency is the focal point of the loan, either being used as collateral, or as the primary source of value that’s being borrowed.
Note, for lenders, it’s possible to lend out crypto assets or holdings, and in turn, generate returns via interest payments in the form of additional crypto assets and this isn’t without its risks, of course, and it may take some time to research platforms that connect potential borrowers and lenders together.
However, if you’re looking for ways to put your cryptocurrency to work and earn you some additional money, lending it out is one possible avenue worthy of exploration.
2: Develop Your Own Cryptocurrency
Another strategy of making money with cryptocurrency is to develop your own coin, you can make profits with cryptocurrencies by creating one of your by building your own cryptocurrency, and it’s not as scary as it may sound.
By creating and launching your cryptocurrency will, however, need you to be some kind of expert in blockchain. And you must have the basic knowledge of how blockchain and cryptocurrencies work. And also, you need to evaluate various possibilities and come up with the type of coin you wish to build. Also you may alternatively hire a blockchain expert or team for the job.
Immediately, your coin is developed, you can start selling it through ICO or exchanges Of course, you’ll need to promote a lot in the beginning so that users know what your coin is all about and why they should invest in it.
3. Learn how to read the charts and reports
Always note that before you put money into cryptocurrency, learn how to read the charts.This Cryptocurrencies aren’t the best investment for a newbie and it requires some skill and experience with trading platforms. As a starter or an expert you’ll need the ability to understand the technical indicators, which are shown in graphs and charts as well as spreadsheets.
All these data points give you the indicators as to when you should buy Bitcoin in emerging markets. Take for instance, the Bitcoin price in India rose when their government de-regulated the currency. And by watching for these market opportunities you can buy Bitcoin before the rise in price giving you a profit on the investment. Do not forget you’ll also benefit from in-depth knowledge about blockchain and different cryptocurrency companies.
4. Start mining
Mining is another major means of earning in crypto market, If you have hardware that’s not dedicated to anything else, and you’ve also got plenty of bandwidth and more time than money, you could start mining for cryptocurrency.
The Mining strategy is part of the proof of work mechanism in the cryptocurrency industry, It’s one of the oldest ways to generate income from digital coins. Buy you can verify transactions and secure the proof of work network. Also, your reward is a new coin. It’s delivered through a block reward. Nowadays, you need specialized mining hardware. But If you don’t already have it, you’ll need cash to buy it. Click here to start mining.
5. Leverage on Bitcoin Affiliate Programs
A lots of people understand how affiliate programs work, but only a few know that they are also available in the crypto world, affiliate programs reward you for doing one thing – referring customers to their business. It means – the more people you refer, the greater your reward.
And when you join a cryptocurrency affiliate program, you will most likely get paid in Bitcoin, this method of making money is especially great for individuals who own blogs, run YouTube channels, or have some following on social media.
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We have so many people out there looking for how to buy bitcoin in Nigeria, Instead of having to explain the same thing a dozen times, you can very easily refer those potential crypto downlines to your website, YouTube channel, or social media page for more information. Once they learn the basics and are ready to begin their crypto journey, chances are they’d click on any of your affiliate links to get started, and that means more bitcoin for you — a win-win situation.
Note also, if you don’t have a blog or YouTube channel, you can still benefit from affiliate programs. And you can simply share your affiliate links with family, friends, and anyone who is interested in becoming a crypto trader and in no time, you’d see your crypto earnings rise from referral commissions.
