Hey what’s up guys? It’s Dan again from Crypto Camacho.Com. Or each day I teach you something valuable about cryptocurrency.And today I have something very, very exciting on the docket.
Today I wanted to talk about, how to make money in cryptocurrency right? We are in the midst of this cryptocurrency revolution and there are countless ways to make money now with cryptocurrency right. It’s not all about day trading.It’s not all about; you know these hype programs although those are ways to make money. There are multiple, multiple ways to make money with cryptocurrency today.And in this video series I want to actually go through some of those ways,that you can make money at home. So as I mentioned before we are in the midst of a cryptocurrency revolution.
Right now Bitcoin is over 8,000 today trading it’s around 8300 Ethereum has now gone up to about $360 per coin and there’s no stop in sight right. There is no stopping Bitcoin, Ethereum and many, many of the other alt coins that are coming out right. Cryptocurrency is growing, it’s maturing, it’s starting to get mass adoption,it’s definitely not quite there yet but we are starting to see signs of the mass adoption floodgates opening up if you will you know there are many banks that are now bullish on cryptocurrency.They’re starting to invest in cryptocurrency, they’re starting to make their own coins even our friend Jamie Dimon at Chase, who said Bitcoin was a fraud is now starting to come around and look at Bitcoin as an actual valuable asset for storage of value.
So things are changing right mass adoption is happening coinbase is going through the roof in terms of the users that are adopting the platform if you don’t know what coinbase is go check it out because that’s really where you’re going to probably start to buy your first Bitcoin but like I said in this series today I wanted to talk about you know the seven or eight ways that you can make money in cryptocurrency today by starting literally today, if you have no experience in cryptocurrency I’m here to help that’s why I make these videos to help you learn about cryptocurrency to help you understand the different ways that you can make money in cryptocurrency and let’s really just get right into it right so
02:18 Start Earning Money In Cyptocurrency
The very first way that you can make money in cryptocurrency is quite obvious you know and that is really just to buy and hold right. Buy and huddle to the moon right so how do you buy Bitcoin? How do you buy theorem? How do you buy all coins?So the easiest easiest, easiest way to buy Bitcoin or Aetherium or Litecoin is through a platform called coinbase.Coinbase is very, very user friendly,it’s not technical at all, it’s the easiest way you can start buying Bitcoin or other Altcoins today they are limited in terms of what they offer they offer Bitcoin aetherium and Litecoin, probably in the future we’ll be adding some other altcoins. But right now, it’s those three cryptocurrencies which have kind of the highest market cap to date. And so if you go to coinbase you can get those right go to Crypto Camacho.com forward slash coin base and you can get $10free Bitcoin, aetherium or litecoin. So that’s really kind of the first and easiest way or most obvious way to make money in cryptocurrency.
Right you simply buy cryptocurrency Bitcoin for example and you hold it you hold it for the long term right whether that’s six months a year five ten years it doesn’t matter but that is definitely one very, very,very sure way of making money in this space today. If you look at the last year when I started in cryptocurrency probably about a year ago a little a little bit more than a year ago,bitcoin was around $700 per coin maybe a little bit less fluctuating but about $700 per coin.
Now fast forward to November 2017 Bitcoin is trading at over 8,000 right,so that’s over an eight nine tenfoldincrease of Bitcoin in just a year. And literally within the last like two, threemonths it’s gone up probably 50%,60, 70% or more in the last couple months right so buying and holding is definitely a very, very viable strategy to make money in cryptocurrency, but it does require patience. You buy the coin you know you hold it in your secure wallet, if you don’t have a wallet I suggest you check out for a hardware wallet you check out ledger Nano you can check out the link in this video for a software wallet I use electrum and I use my Elysium I use both,both good again I’ll put links in the show notes here so you can go and get those wallets.
But essentially you go to coinbase, you buy your Bitcoin you transfer it to your secure wallet and you hold it and you let it mature. And then when you’re ready to sell, you push it back over you transfer it back from your wallet, back into an exchange you make the sale, you get your fiat currency and off you go. Right and that is an excellent, excellent way to make money in cryptocurrency city today so the number one method is buying and holding right. So that one’s pretty easy that one’s pretty obvious that one’s probably not too exciting excuse me.
05:06 – How To Trade And Invest In Cryptocurrency
The next method that I suggest for making money encrypt a currency is trading now whether that’s day trading whether that’s position trading whatever it may be whatever method or strategy of trading that’s the second you know way you can make money with cryptocurrency.So I do a lot of day trading, I do day trading in short increments where I will literally buy and sell within an hour. I’ll do other day trading, where I’m kind of trading all day, maybe sometimes I wait a few days one two three days and do trades and then I do what’s called position trading.
Position trading is really when you wait and are patient for the price of a particular coin to go down below the level of last support right. So when the price goes below the level of last support, that’s when I scooped it up by it low and sell it high.There’s many, many ways to do day trading,there’s many, many ways to trade cryptocurrency, but I kind of dabble in a little bit of it all right and what do I use to trade? I use a platform called Coinigy to do my day trading. What Coinigy does is,it brings together I think over 50 different cryptocurrency exchanges. It brings those all into one single platform so that you can buy and sell and trade cryptocurrency within, one single platform right. So I currently have about five or six platforms hookedinto my Coinigy account. I use bittricks,I use bittrix, Bitfinex,Poloniexalthough I’m phasing out of that I use la Queen I use Binance and I use Hitb.
So I use several and I dabble in others here and there this is further kind of the serious day trader but if you want to connect one or two different exchanges highly, highly recommend coinigy their interface is very, very useful you’ve probably seen on my other previous videos much better than the exchanges interface right and it’s really the tool you absolutely need if you’re going to be dabbling in day trading if you’re going to be doing any type of day trading position trading with cryptocurrency you definitely want to check out coinigy.
So trading is really the next way you can make money and if you look at the markets, look at the charts it’s fascinating right now the way the volatility in the charts the way that the altcoins bitcoin aetherium and others are going way, way down and then way, way back up. I mean within a week period of time there will be multiple spikes and dips within a single cryptocurrency. We’re talking you know 5 to 25,if not 50%within the matter of a week. So what, what that means is that in the span of a week there may be dips you know that are you know 10% lower than yesterday’s dips and then the next day there might be dips that are 20 or 30% lower that’s when you actually need to buy. You buy low and then when those dips go back up and there’s moresupport to carry the price higher thatis when you sell.
There is a whole strategy, a whole methodology for doing this you know day trading versus position trading. Watch some of my previous videos you’ll see I show some of my charts I show you exactly how it’s done but that is the second way to make money in cryptocurrency. In a very, very profitable way at that but you do need to know a little bit what you’re doing you know you could definitely lose money by day trading it’s a little bit more risky but there’s also a lot of upside it’s action-packed right you’reconstantly looking at the exchanges they’re putting money in and buying you’re selling and you’re just constantly watching and one really cool thing about coinigy, is that you can actually set alerts wherever you want on the charts and when those prices hit that point of the alert your alert will go off and notify you through email, or through whatever means text message, or whatever and you can actually then get the alert and make your trade and I’ll show you in a later video how to set up those alerts and how to get text messages right to your phone in order to trade.
So that is definitely one of my favourite methods of how to make money with cryptocurrency it’s through day trading right. And I typically will trade on the our charts you know I’ll typically trade on the one-hour chart depending on what I’m doing, depending on what my goal is and occasionally I will trade really large amounts of money for 1 or 2% increase which I’ll do kind of with five minute charts five to fifteen minute charts looking at those constantly. And then other times, I’m looking at one hour charts you know playing the dips playing when the bases are broken when there’s support below the bases I’m buying in low and I’m selling high. So that’s, that’s definitely one of myfavourite ways to make money in cryptocurrency today.
09:24 – Other Platform Use To Make Money In Cryptocurrency
The third way to make money in cryptocurrency is throughHyip programs, high-yield investment programs, what are those? Those are platforms like bitconnect, like 09:30 like Devore coin like Hexabot, likeChain Group there are a number of different height programs out there that’s HYIP high-yield investment platform. Or high-yield investment product or platform not sure but there are many out there right there’s many,many the biggest being a bitconnect.
Check out the link in the show notes you could check out bit connect for yourself but what a Hyip program is? Essentially it’s a lending platform, it’s a place where you can go and you can actually lend your Bitcoin out or lend a specific coin out and collect daily interest on that loan that you made. So for example,if I go to bitconnect, I make a one $1,000 loan every single day I will make daily interests on that $1000 loan and it ranges anywhere from a half of a percent to 2%daily, so think about it like this. The other day I actually signed up for bitconnect I’m starting my bitconnect journey and I literally just started it right like four days ago. And I lean a thousand,$1,030. You could watch a previous video but I leaned a $1,030 and now every single day,I’m collecting interest from that loan.The very first day, I think my interest was around $6 not a whole lot.
The next day my interest was I think $21 in every day I’m getting this recurring interest that’s coming in and then I’m making money off.And the one really interesting thing about Hyip programs and bitconnect specifically is that, you could reinvest your profits over and over and you could then have the interest that’s coming in snowball right. So let’s imagine that I loan $1,000. And then three months from now I’ve been collecting daily interest from that $1,000 loan well that $1,000 loan in three months is going to produce a couple hundred dollars in interest. I could thenreinvest that couple hundred dollars ininterest on the bitconnect platform and then amplify my daily interest earnings.
So if you keep doing this over and over you can imagine how that will snowball and snowball and snowball over time right and that’s exactly what I’ve started doing now there are you know many platforms. As I said I’m only invested in bitconnect today that’s going to change. I’m going to be investing in many of these other platforms coming up really soonand I’m going to be making a series of videos to show you guys exactly how they work but that’s essentially what a Hyip program is it’s a promise. You basically lend money on a platform you lock that capital down for a certain amount of time usually it’s anywhere from a hundred days to 250 days,depending on the amount of money you loan and then you get daily compounding interest on that loan.
The higher you lend, the more interest you get or the higher the percentage yield you get.A lot of people have been doing this; a lotof people have been making a lot of money. It’s definitely a high risk way of making money in Bitcoin or in cryptocurrency, but it’s definitely a very highly profitable to make money in cryptocurrency as well. So the higher the risk the higher the profits, right that kind of goes hand-in-hand and so that’s kind of what a Hyip program is hopefully that’s helpful to you guys.
12:45 – Using An Exicting Way To Make Money In Cryptocurrency
The next way that you can make money in cryptocurrency,number four is ICOs. ICOs initial coin offerings. So that is definitely by far,one of the most hyped up, one of the most exciting ways to invest in cryptocurrency today. So what’s an initial coin offering? An initial coin offering is similar to an ICO an initial public offering for stocks right. The difference being when an ICO is when a company is formed and they actually create a cryptocurrency or a coin or a token around built around the blockchain technology right and so, what an ICO is? is it’s launching that coin, it’s launching the development of that in a public forum in a crowd-sourced way right.
So you crowdsource a bunch of people to come look at the ICO you’re creating or the coin you’re launching you produce a white paper, you produce a business plan and a road map and then you essentially launch your ICO sale and investors have the opportunity to come to your website come to your ICO and invest in the ICO before it goes public,before it launches and before it goes on any of the exchanges and you know you,you probably have seen hundreds if not thousands of ICOs pop up in the last year I mean they’re literally popping up every single day new ICOs are popping up every day, every day, more and more ICOs.
You can check out you know what I see us are coming up on ICO Alert.Com. You can check it out on coin gecko com there’s a number of places you can find I SEOs or new I SEOs that are about to launch and this is really where you can make a lot of money yes it is a risk to invest in ICOSbut the profit margins are enormous.
On a video I just recently made about a site called icostats.com.You could check it in the previous one it’ll show you the statistics of all the past ICOs that have launched today and the ROI associated and the numbers the percentage increases on these ICOs are ridiculous, they’re outrageous, they’re crazy,I mean we’re talking a 1000%, 10,000%, a 100,000%. I mean we’re talking at thousands and thousands of percent increase in in the price. Meaning if you invest a $100 and it goes up a 1000% you make a $1000 right. That’s a fantastic return and ICOs are promising that now.
Yes the market is becoming saturated there are becoming you know there’s they’re starting to be too many ICOS to be able to support right for the market to support and they’re not growing quite as quickly. But definitely is still a very, very good way to make money and cryptocurrency today. If you get in early,if you find the right ICOS to invest in,you’re potential for upside is enormous, enormous right and you can always invest small. You can invest a $100, it’s not going to break the bank right invest a hundred dollars and if it goes up a 1000% you don’t have a whole lot to lose right.
So you’re mitigating your downside risk with a very, very, very high upside potential. So really take that into account and I’m going to be I’ve done a video on ICOS and how to find the best ICOS? If you look at my previous videos I think it’s the video is called how to find the absolute best ICOS? I talked about using sentiment analysis and Google search volume to validate whether or not an ICO is a good ICO and whether or not it’s going to go to the moon or not check that out. But ICOs are very,very, very foundational very, very good way to make money in cryptocurrency.
16:00 – Creating Bitcoin Through Mining
Okay let’s keep going through this. What is another way one other way to make money in cryptocurrencies is mining. What is mining? So to create Bitcoin you actually need to mine Bitcoin and what mining is essentially a large network of computers or a computer using their processing power their CPU power, to solve a series of puzzles and riddles or equations if you will that validate that somebody is actually put in the time and effort in energy to solve those equations.
To solve those equations, it actually takes a lot a significant amount of power, of energy, of electricity to do that which is why you know people are starting to build up these mining farms that use a bunch of electricity to produce Bitcoin it’s called proof of work. When somebody actually mines a Bitcoin it’s called proof of work and it’s proof that somebody put in time effort in resources and potentially money to mine bitcoins similar to gold when you go mined gold you have to you know build a rig you have to get a pick or an axe or whatever a shovel and you have to actually mine that gold.
It takes effort, it takes time,it takes resources,same principle with Bitcoin right. So mining is a way that people are making money in cryptocurrency. There are two forms of mining there is mining yourself,which means you set up computers to do the mining for you or you can do cloud mining like a Genesis mining. And what Genesis mining is or what cloud mining is? They’ve already have an infrastructure and a network of computers doing the mining you simply tap into that network and you reap the benefits from that. Something that I’ve been exploring, have not actually invested yet.
Looking to do some more investing in mining like Genesis mining so you can do it either way if you have the money the time the technical expertise go buy a couple high-powered computers set up your mining shop. Start mining Bitcoin; I think it costs about a$1000 approximately to mine one Bitcoin.
But if you have the capabilities to do that definitely do it because the money is really good doing that. If you don’t, go over to cloud mining right through Genesis mining for example you can sign up there’s you know minimum fees you can use different levels of you know the amounts you’ll make depending on how much you invest into the program but it’s a really easy way to start doing Bitcoin mining without having all of the physical hardware that goes along with it right.So mining is definitely something to check out I’ll be doing that very, very shortly here and I’ll let you guys know how that’s going as well.
18:19 – Financing And Lending To Others Can Help In Making Money
So one other way to make money in cryptocurrency is financing and lending and I don’t mean lending through hype programs what I mean is financing others lending to others that you know that don’t know how to buy Bitcoin they don’t have the technical know-how to actually go and buy cryptocurrency.
On my channel itself on my YouTube channel many, many peoplewell not many multiple people havereached out to me and said hey, Crypto Camacho can you buy Bitcoin for me? Can you buy IO to coin for me? Can you buy XY and z coin for me? And I’ll pay you to do it I just don’t know how to do it I don’t have the technical skills to do it I just don’t know how that’s all how all this stuff works can you do it for me? So one way to make money is to set up a cryptocurrency consultancy where you actually will buy Bitcoin or aetherium or other all coins for people and charge a commission to do so right.
You can say yep, I’ll buy you a $1000 with a Bitcoin I’ll take 10% off the top. I’ll transfer it to your wallet, I’ll even set up a wallet for you for a $100 or whatever it may be and you buy the Bitcoin for them you transfer that Bitcoin to their wallet they’re off to the races and ready to go. One other way I’ve been kind of thinking about how to make money with cryptocurrency haven’t actually done that yet but enough people have been asking me about it that I’m starting to consider offering that as a service right so that’s one other way to make money in cryptocurrency.
19:37 – Using Affiliate Progrmas In Making Money
One other way in a not so obvious way to make money in cryptocurrency is through affiliate programs so just like digital marketing there are hundreds of affiliate in referral programs for cryptocurrency not as much as digital marketing obviously it’s a much more mature market digital marketing is cryptocurrency is just starting affiliate programs are just starting to pop up and if you get in early you get traction early on you can make a significant amount of money with affiliate programs and they range affiliate programs they range from you know you know anything from Mining to Hyip programs, to you know buying Bitcoin, to you know the sky’s the limit.
Really there’s affiliate programs for anything around cryptocurrency right.Something I’ve been dabbling into, you could see my show notes the links there a lot of those are affiliate links not all of them but a lot of them are. So I’m exploring that Avenue as well might as well and making all these videos teaching people. I want to explore that on Avenue to make money as well so that’s one other method and if you don’t know what an affiliate program is I probably should have said this right up front but an affiliate program what it is you promote or you refer somebody to a cryptocurrency vendor and they give you a commission or a percentage of the sale from that person right. So it’s basically a referral program like anything else so that is another way to make money in cryptocurrency.
21:03 – An Online Gaming Site Used To Make Money
The one last, way to make money in cryptocurrency that I’ll talk aboutI’m not a huge fan of but I have made, some money in it andI’m continuing to explore it. It’s online gaming.It’s online gambling sites that run in Bitcoin or other cryptocurrencies I’ve made some passive video posts on this the one I’ve explored is Bitsler.
So Bitsler is an online gaming site, I’ve actually developed a script that goes along with Bitsler and what it does is the script runs in the background and does the gambling for me based on a set of parameters. And then I profit, you know over time by betting and adjusting my bets depending on a win or a loss previously. Check that out, you could check out my Bitsler posts on my previous post I won’t get too much into it but you could definitely make money in online gambling with cryptocurrency right. You bet Bitcoin, you bet Aetherium and you get a return on that back right.
Again, a bit risky to do that but definitely there are many, many people making money in that Avenue definitely if you use my script you’ll be able to make some money you got to be careful with it not to overdo it or you will lose your money but you can definitely make some money doing it so check out gaming and gambling sites as well forBitcoin andother cryptocurrencies.
22:20 – Reviews Of The Different Ways To Make Money In Cryptocurrency
Now there are, youknow many other ways to make money in cryptocurrency I’ve kind of highlighted the top I’d say 8 ways to make money in cryptocurrency maybe the top eight or nine ways to make money I’ll be doing a lot more videos in depth about each of these methods but I wanted to give you just an overview of the different ways you can make money in cryptocurrency today this is only going to expand exponentially it’s not going to go away this list is not going to get shorter it’s going to get longer right these are the main, main methods that I’ve seen today on how people are making money in this space.
We are literally at the ground floor we have nowhere to go but up this is one of the biggest booms that will ever happen in my lifetime probably your lifetime I could remember back to a couple of other time periods where I’ve kicked myself and I thought you know I should really get in on this now while it’s happening I could think back to the .com boom right in the mid-90s to thelate 90s there was a big internet .comboom. I knew about domain names back then,I knew about web sites back then but I did not really understand the potential of getting in early on some of these things.
If you would have bought domain names back in 1995 or 96 you would be sitting as a millionaire right now just for buying those domain names right because they become so valuable. Same thing that happened with the internet boom, a lot of start-ups came up and made a fortune right. Then we fast forward to the 2000’s the early 2000’s we had the real estate boom remember houses in the US were going through the roof appreciating you know hundreds of percent over a year to three years there was the whole derivative markets. So there was a huge, huge opportunity in big bubble then that the right people thatgot in at the right time, made a fortune right and you know and that happened in the early 2000’s.
Now we’re entering a period, where we’re in a new revolution a cryptocurrency revolution,where is just starting out but the next couple years will be very similar to like the 90s or the early 2000s in these other booms except I predict it’s going tobe much bigger, it’s going to be a much bigger boom. Because we’re talking about the finance industry we’re talking about displacing the banking industry you know these things are massive and they’re just barely getting started haven’t gotten adoption yet. Blockchain is knew the potential Blockchain is infinite and literally it’s going to transform and disrupt so many businesses that I can’t even begin to count.
Anyway, I hopefully this this video was helpful for you guys. Let me know if you guys have any other methods that you use to make money in cryptocurrency I’d love, love, love your thoughts. And don’t forget to subscribe to my You Tube channel before you leave. Again I’mDan from Crypto Camacho.Com. It’s been a pleasure talking to you guys. Thank you as always for following me on YouTube, can’t tell you how much I appreciate it and I will talk to you next time. See you guys.