Hello Steemers I am writing this guide to show the methods that I use to make profits with cryptocurrencies. Most of the methods are low risk and volatility but may require some setup time. This guide will consist of three tried and proven methods that will help increase you cryptocurrency holdings. These methods are not to help you get rich but it will help you create income daily that shouldn't require too much effort after setup.
1. Become a Lender to margin traders
Many of the cryptocurrency exchanges offer something called margin trading for traders who would like to leverage their funds and trade with higher balances than they currently have. Margin trading allows trading with borrowed funds instead of your own. When you place a margin order, all of the money you are using is borrowed from other users offering their funds as peer-to-peer loans. The funds in your margin account are used only as collateral for these loans and to settle debts to lenders.
Margin trading can be highly lucrative if you know what you are doing and can stomach the risks involved. I avoid it because I am not a very savvy trader and don't have the stomach for losses from bad trades. Instead I choose to lend some of my holdings to other traders looking to leverage their funds.
For this Tutorial we will use Poloneix as an example. Navigate over to Poloneix and make a profile if you don't already have one. Once you have made an account you can now fund your account by scrolling over the balances tab and clicking Deposits & Withdrawals on the drop down tab. From there you can deposit currencies to your wallets on Poloniex.
After you have a balance transfer it to your lending wallet from the balances tab. Once you have the coins in the correct place you can begin setting up lending contracts. to set up a contract simply enter an interest rate that is low but not so low that your profit suffers, I usually pick a rate slightly lower that the top 3 current interest rates. After picking a rate choose an amount to lend then click offer loan ( you can choose to auto renew). You'll need to keep an eye on it every once in a while to make sure you can maximize profits(2 or 3 times a day).
This method will help ensure that your coins are appreciating in value but this is far from a cash cow. I also suggest not keeping too many assets in an exchange wallet for extended periods of time. This method was the first way that I started building residual income with my coins. It was also a good way to help me get familiar with how to use the exchange.
2. Sharing useful affiliate links with your network
You can make a pretty good profit by sharing your affiliate invite link with members of your person networks. Every time someone you share your link with signs up you are paid; payment rates vary from company to company but with some good initial effort you can make some good profits.
A good choice start with is cex.io or coinbase since you will be using exchanges and its one of the easiest ways to generate affiliate revenue. There is an endless amount of different affiliate programs that you can participate in just be aware that there are various scams that use affiliate marketing to gain victims as well.
Once your profile is made you should be able to click a tab that will show you you affiliate link which you can copy and paste into you blog or other social media outlets and start generating income when you peers sign up. The hardest part of creating an income stream out of affiliate marketing is building a network of people to whom you can market. If you are not an avid blogger or socialite I suggest focusing on those close to you who may consume the same products or share similar interests. You could also pay a marketing service to help you spread the word about the product you are affiliated with.
Some people are able to make a solid income off of affiliate marketing. all it takes is for you to invest some time and effort into startup an maintenance but will be rewarding in the end. The best part about it is it costs nothing to get started in most cases and can be scaled to your desired amount of effort.
3. Mining with your PC
Now i know most people would say that there isn't much profit in mining with a CPU or even some GPU's but i believe its worth it both monetarily and educationally. When you start to learn about mining it opens up so many doors that lead to increased mastery of cryptocurrencies. I started my mining journey simply by signing up with Minergate because it was the best bet for people like me, who lacked the programming skills to work with some of the more advanced programs that are out there.
I started using Minergate a short while before Ethereum sparked a mining craze that forced difficulties up and caused shortages in GPU supplies. thanks to minergate i was able to confidently start experimenting with cryptocurrency mining and eventually build my mining operation into something pretty profitable. It's always fun to learn something especially when that something can help generate income.
My journey into the cryptoverse is still in its infancy but I know that sharing my experiences with you all will help me grow. feel free to post your ideas or methods you use because I would love to learn some new ways to expand.