You can make money with cryptocurrency in different ways. Sometimes it takes investment to earn an income, and sometimes it only requires time and effort. Let’s look at the 3 most popular ways to do this.
🔸 Investing is the long-term strategy of buying and holding crypto assets for some time. You need to identify more stable assets that show a long-term price increase, such as Bitcoin or Ethereum. To increase your chances, you can buy several cryptocurrencies of different types.
🔸 Trading – the basic principle of trade is to buy cheaper – to sell more expensive. However, this requires the ability to analyze the market. There is also futures trading – a kind of bet on whether the rate will go up or down after some time. This way you can earn even by falling prices.
🔸 Mining – new cryptocurrency appear on the network thanks to the miners who validate blocks and add them to the blockchain by using computers to solve mathematical functions. For this they receive a reward in the form of digital coins. This way requires expertise and significant upfront and ongoing investment.