Hello Everyone and welcome to my blog
I have been involved with cryptocurrency space since 2017, during this period I have been involved with educating different persons on the concept on cryptocurrencies and the blockchain technology and how involvement with cryptocurrency can be profitable in both short and long term.
Even though I consider myself to still be in the learning page within the cryptocurrency space, I have been off recent being involved with ways by which persons without knowledge of what the crytocurrency space can get involved and profit from it, I am from Nigeria where crytocurrency is largely perceived to be either Ponzi schemes or multi level marketing schemes, so this blog post is aimed at educating new comers into the crytocurrency space on the various ways by which they can get into the cryptocurrency space, so let's dive into it quickly.
In my teaching of cryptocurrency and the blockchain technology, I have come to identify four ways by which newbies can enter into the cryptocurrency space profitablely;
Crytocurrency Airdrop
When I started out with in the cryptocurrency space last year, this was where started out from, cryptocurrency airdrop simply refers to means by which cryptocurrency tokens of new cryptocurrency projects are earned freely, the developers of these cryptocurrency projects decide to give out some fraction of these tokens for free to those who register to get them, this helps in building community around the cryptocurrency project, now when these tokens are given out, they have no value because they have not been listed on any exchange market, the developers work to get these tokens listed on an exchange site, depending on the effort put in by the developing team that cryptocurrency project, this tokens might get listed and therefore having a price which it can be traded at, so now those who got such tokens for free during the airdropping phase of the project can them trade them, thereby generating equity freely.
This was designed by
Initial Coin Offerings [ICOs]
Remember in explaining airdrop above, I said that the cryptocurrencies of these new tokens are given freely, but in the case of ICOs, these token are not given freely by the developing team of the cryptocurrency project but they are rather sold to the public at a very low price initially, now this is done to raise funds that would be used to develop the project as the developing team might not have enough funds to build up the project, as the project progresses, depending on if the project is a good one with an efficient team, the value of this token will also increase, and those who had invested in it when it was in it's low price offering stage will earn profits on their investments, now the trick is to finding very good cryptocurrency projects.
Cryptocurrency Trading
coinmarketcap.com gives an arrangement of various cryptocurrencies which are available, although the number of these digital currencies are not limited to just what is been listed on that site as alot of other cryptocurrencies exists, now these various digital currencies are been traded among each other everyday to generate profit in what is called cryptocurrency trading, now cryptocurrency trading is one which requires knowledge of financial technical analysis, fundamental analysis, news surrounding the cryptocurrency space, because the cryptocurrency market is one which is highly volatile, these skills are necessary to be learnt so as to avoid loosing investments.
Becoming Involved In A Cryptocurrency Project
Every Cryptocurrency project requires a team to help out in it development, now the initial developing team of such projects may not be complete enough to handle all aspects needed for the project to be developed successfully, so depending on your skill set you can get involved with any cryptocurrency project and earn profitablely from it, most of these projects require community builder around the project, the project might need content creator or translators for the project, there might even be a need for more developers and programmers, so when you get involved with such project with such skill sets, you get rewarded with the crytocurrency of that project, so to know what way you can be involved in any crytocurrency project, you can directly contact the founding developing team or read the white paper of such project.
So there you have it, explore these various ways a see what works perfectly for you.