6 Ways To Make Money In The World Of Cryptocurrencies

 6 Ways To Make Money In The World Of Cryptocurrencies

Individuals generally enter the universe of digital currencies with the possibility of ​​making cash, however we see that not every person prevails in that. Individuals either basically abandon everything at one point or fall into different tricks which are more and more common.

However, there are a lot of good ways to make money in a fair way in the world of cryptocurrencies. Assuming you have no idea about programming, so you won’t start your own cryptocurrency or get a job at a company that develops some cryptocurrency, here are some suggestions on how to make money.

1. Mining

Mining is probably the most well-known way to make money in the crypto world.

Mining is the process of verifying transactions within the blockchain itself.

You invest in computer equipment that verifies transactions and for each successful verification you receive a reward in the form of cryptocurrency. The more you invest in hardware, the faster and more processing power you have, the more likely you are to complete the verification and be rewarded more successfully.

Basically, you are competing with your equipment against other miners and their equipment, and whoever has better equipment gets more coins. The biggest problem here is the monthly bill for electricity consumed which is often higher than the earnings.

2. Referral program

A referral program is a very common and good way to make money.

As you know, there are different cryptocurrencies and a great infrastructure around them.

Everyone is fighting for their place in the world of digital currencies and for that purpose websites or individuals are used who try to recommend you a certain cryptocurrency, platform, e-wallet, cryptocurrency exchange, etc.

And you can make money this way if you register on any platform that has a referral or affiliate program and thus start recommending their services.

For every person who opts for this platform through your recommendation, you will be rewarded. Network marketing and various vouchers that are sold, have nothing to do with this form of earnings, although at first glance they seem to have.

By clicking on the link - directly and without any intermediary - you register on the e-wallet, cryptocurrency exchange or buy cryptocurrency. You also receive a reward for a successful recommendation directly and without any intermediary.

3. Profits 

Profits on cryptographic money work pretty much like profits on stocks. You will purchase and keep altcoin or stablecoin for a specific timeframe for which you need to be delivered a profit. As of now, the most well known cryptographic money for this sort of income is the BNB coin. 

4. Crypto exchanging 

Crypto exchanging is an exchange like some other exchange stocks, monetary forms or some other product. The thought is amazingly basic: purchase low - sell high.

This sort of income ordinarily alludes to every day exchanging. In this way, to exchange a time period from one moment to one day. This method of acquiring requires a lot of information on specialized and principal market investigation to effectively anticipate the ascent and fall of the cost of a cryptographic money. 

5. Purchasing and Hodling 

Purchasing and HODLing is a method of bringing in cash wherein you purchase cryptographic money and don't sell it for an extensive stretch of time. For instance, in the event that you purchased bitcoin for $ 1,000 in mid 2019, you would get $ 10,000 for that measure of bitcoin today.

6. Stalking

Stalking is the way to make money most similar to the classic saving of FIAT currencies in the bank where you get interest.

Namely, the cryptocurrency market is in great momentum, which is why investors are looking for capital for their projects.

Instead of investing FIAT currencies (dollars, euros…) in a classic bank / savings, you invest in an online bank stablecoin savings. The principle is exactly the same as in classic banking: you save your money for a while, the bank borrows that money, makes a profit for itself and gives you a part of the profit in the form of interest.

I will maximally simplify the idea on the example of $ 1,000 over a period of 12 months.

if you invest 1000 USD in a classic bank, you will get about 0.03% in interest, so after 12 months you have 1000.30 USD;

if you invest $ 1,000 in an online bank, you will get about 0.5% in interest, so after 12 months you have $ 1005;

if you invest 1000 USDC in an online bank in the name of interest, you will get from 8 to 12%, so after 12 months you have from 1080 to 1120 USDC.

When saving USDC, you have the option to be paid interest on a daily basis, and you reinvest that interest automatically, so you earn interest on the interest.

Money is available for you to withdraw at any time, and most online banks, in cooperation with Master and Visa, provide the physical and / or virtual card you use as well as any other debit card you already have.

Which way of earning is the best, certainly depends on the person to person.

Personally, I recommend everyone to invest money in what they fully understand how it works. Today we can get information about everything with one click. On this occasion, I recommend all of you to use this and previous texts on cryptocurrencies as inspiration for research and learning which type of earnings is best for you personally.