Written by Making money online is one of the fastest ways of earning income if done profitably.
Joining the cryptocurrency trading could be very profitable. Imagine buying a coin at a lesser price rate and selling it at a higher rate.
I’m here to guide you on the latest cryptocurrency income strategy that can make you a living in 2022.
The video below will educate you on the introduction of this strategy. Meanwhile, in my next post, I will be showing you how it works.
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Stay tuned next week to get updated on the next post teaching on the strategy of cryptocurrency income.
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3 Proven Strategies on how to Make Money from Cryptocurrency
While cryptocurrency has been around since 2009, only in the last few years has it seen significant growth and become mainstream. The value of cryptocurrency is still highly volatile, but that’s not stopping some people from making money from it.
Whether you’re just looking to get your feet wet with some crypto-trading or you want to try your hand at other ways to profit from cryptocurrency, here are 3 proven strategies to help you make money from cryptocurrency today!
1) Work as a freelancer in the crypto space
If you have a skill (like programming or web design), there are many people who need it and will pay for it in cryptocurrency. You can find these jobs at CoinDesk’s job board, among other places. And if you’re really good at what you do, consider working as a freelancer for one of several crypto-consulting firms that provide clients with cryptocurrency services like developing new wallets, etc., and pay freelancers in cryptocurrencies like bitcoin.
Like everything else in life, the more skilled you become at what you do, the more opportunities will arise. You just have to start somewhere. One thing I recommend is signing up for Coinbase (which takes less than a minute) and opening an account. After that, linking your bank account is pretty simple and quick.
Then you can fund your account by sending US dollars to your Coinbase USD wallet on their website or app—and then trade your dollars for Bitcoin, Ethereum, or Litecoin instantly! But remember: Always buy low, sell high! Never invest more than you’re willing to lose. Don’t be stupid; always know when to stop investing! Don’t ever invest money you aren’t willing to lose because it could get lost! There are also some risks involved with investing/trading cryptocurrencies so make sure you read up on those first before getting started!
2) Participate in bounty campaigns
Participating in bounty campaigns is a great way to not only jump start your crypto earnings, but also gain visibility and authority within your field. This is a nice way to help build up your portfolio while getting paid. For example, if you participate in a bounty campaign for blockchain research on smart contracts, you’ll receive tokens that can be exchanged for Bitcoin or Ethereum. Just beware of campaigns that require upfront payments.
These usually turn out to be scams—or at least aren’t worth what you pay for them. And no matter how appealing an ICO sounds, never invest more than you are willing to lose, as most ICOs are nothing more than get-rich-quick schemes themselves! As with any investment, do your due diligence before participating in any ICOs.
Always read through their whitepaper and FAQs thoroughly before investing. Finally, ask yourself why you would want to take part in such a project when there are already so many other cryptos available? You may find yourself coming up short with little explanation as to why it should succeed where others have failed. Good luck!
3) Trade cryptos
Investing in cryptocurrency is a popular option for anyone looking to enter or grow their wealth. According to CoinMarketCap, there are more than 1,600 different types of cryptocurrencies currently in circulation, with many more on the way.
To invest in these emerging assets, you’ll need an online trading account and some form of cryptocurrency (Bitcoin or Ether is most common) for buying and selling your chosen currency. After that’s set up, you can begin trading (buying low and selling high) any way you want. Be warned that cryptocurrency markets are very volatile—even much more so than traditional financial markets—so don’t expect instant success. Before investing in any new asset class, make sure to understand how it works and conduct extensive research before committing any money.
A quick search on Google News shows that cryptocurrency prices have skyrocketed over 2017, starting out at $1000 per Bitcoin and reaching a peak of nearly $20,000 in December 2017. It has since fallen back down to around $11,000 as of February 2018. If you’d bought $100 worth of Bitcoin at its lowest point during November 2016 ($752), by December 2017 it would have been worth almost ten times as much ($977). That said, don’t take too big a risk if you’re just getting started—invest only what you can afford to lose!