Best ways to make money from crypto currency
- Mining
Mining is the most profitable method to earn money from crypto currency if you do it right.
All you need to do is invest in some amount on mining hardware and mine these coins.
For example, you can mine thousands of coins per day with just one graphic card. You can keep these coins in wallet and sell them when the price has hit the moon.
Also Read: Beginner’s Guide to Mining Crypto currency
Buy/hold
If you are not a techy or got no time to do all the mining and stuff, this is for you. If you have some extra money you can invest in some of the promising coins and hold them.
Once the product becomes main stream you can expect huge returns on your investment. I have got some 16500x returns on ethereum where I invested some amount back to 2016 when the price was just $4 per coin. You can see the current price of ethereum now.
Follow the steps below to invest in crypto:
How to invest in crypto
There are many exchanges where you can buy different coins of your choice. Follow the steps below for detailed explanation.
Step#1: create an account at Coinbase (Zebpay/Unocoin if you live in India)
Step#2: Complete KYC procedure by submitting the government issued ID proof
Step#3: load your wallet with your local currency
Step#4: Now you can buy bitcoin or ethereum on the coinbase/zebpay using the balance.
Step#5: Use this BTC/ETH balance to trade for different coins on any exchange the coin is listed.
Always remember to buy low and sell high. Look for hot news, partnership announcements, and hard forks for better returns.
Tip: Invest before the event and hold until before the event takes place. You can track all coins announcements here.
Read More: How to Buy IOTA on Binance
Note: Invest only the amount which you can afford to lose.Day trading
Crypto currency is a volatile market where the prices changes very quickly based on news, announcements and rumors. This is a bliss for traders who want to cash on these price movements.
Look at the Bitcoin price chart above. In a week’s time the price has moved from $6000 to $19000 in December 2017.
You can cleverly use this kind of movements and book some profits on daily basis.
How to Day Trade:
Step#1: select a coin. Read the basic fundamentals of the coin like product, marketing, development, news, rumors etc..
If the coin is good enough move to step 2…
Step#2: Select an exchange and look at the volume. I typically day trade a coin if the volume has couple hundred BTC in the last 24 hours
Step#3: look for the dip and buy only when low. This is a must for day trader
Step#4: sell when the price increased to couple hundred sathoshi in value.
Crypto Day trading is the best Bitcoin earning tricks. However, there is a risk attached to it. So, you need to be very careful while doing day trading of the crypto currency.
- Airdrops
Crypto Airdrops is another best way to make money in crypto currency space. Airdrop is also an effective way to bring crypto project/ICO to the larger community.
Airdrop is nothing but the crypto team will gift certain amount of coins to the community.
The tasks as follows:
Follow them on Twitter, Re tweet and share
share the product on telegram, discord and other channels
write a blog post reviewing the product
This way the coin gets some exposure and you will also get the coins/tokens. Win-win.
I remember when I signed up for free Ontology (ONT) Email newsletter. I have participated in that giveaway and got 1000 ONT for free. It was back in January 2018.
Back then the value of ONT is absolutely nothing. Now, you can see the price of ONT.
I have sold all my ONT tokens when the price was just above $8 and got some huge money. This is just one of my experiences with crypto airdrops.
By above example, you can expect how much money crypto Airdrops can get.
Tip: Participate only in the promising coin airdrop and keep the coins in your wallet until it hit the exchange to earn some decent money.Micro tasks
Micro tasks platforms allows you to earn bitcoins by completing simple tasks online such as filling out surveys, watching videos, testing apps, and completing simple offers.
List of Bitcoin micro task websites:
• bitcoinget.com
• bitcoinreward.net
• ads4btc
• COINADDER
• Bitcoinget.com
• Bitvisitor.com
• Earnfreebitcoins.com
• Btc4you.com
• Vidybit
• freedigitalmoney.com
• CoinWorker
• BitfortipBitcoin Faucets
Bitcoin faucets, is the simplest Bitcoin earning tricks on the list. The faucets will pay you in sathoshi(s) for doing some simple tasks like view ads, Captcha verification etc.
List of bitcoin faucets:
• FreeBitco.in
• BTCClicks
• MoonBit.co.in
• 777bitco.in
• Bitcoinzebra.com
• Dailyfreebits.com
• Goldsday.com
• Coincollecting.wsStart a Blog
If you are passionate about blockchain and crypto currency you can start a blog on the same. Later you can monetize your site with different methods below.
• Refer Exchanges/crypto products
When you start writing on crypto coins and exchanges you can refer your audience to the exchanges like binance, bitfinex, OKEx, and bithumb etc. all of them will pay you referral amount in bitcoins. you can do lot more not just exchanges. for exmple you can promote ICOs, Wallets, review graphics and etc.
• Get Donations
If you can provide some valuable information about crypto currency and its updates you can put some donation links for BTC/ETH/LTC in the blog.
Over to you
This is all it guys. Hope these bitcoin earning tricks will help you to make money with crypto currency.
If I miss anything, please let me know in the comment section below.
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Thanks for reading…