How To Earn Daily Income With Cryptocurrencies (Part 1)

From Your Bank Account to Crypto

Crypto can be bought with USD, but first, that USD has to be made available to an exchange. An exchange is like a marketplace where you can purchase many different kinds of cryptocurrencies. The most popular right now are Bitcoin and Ethereum, but other cryptocurrencies could gain just as much popularity over time as well.

Coinbase

Coinbase is the most popular exchange right now and is the easiest way to get started investing in crypto. Once an account is created and verified, it can be used for purchasing Bitcoin, Ethereum, and Litecoin. Coinbase is also useful for turning your earned crypto back into USD and transfer to your bank account.

You use Coinbase to transfer funds to and from your bank account and/or buying crypto directly with a credit card. Credit card purchases are instant, meaning you will be able to transfer your crypto to a wallet immediately, while bank account transfers take several days to complete. You will not be able to transfer crypto out of Coinbase until the bank transfer has cleared.

Gemini

Gemini is similar to Coinbase but has significantly lower fees. Fees add up when you’re trying to transfer thousands of dollars from USD into crypto. The trade-off is it’s not as user-friendly and they do not accept credit cards. However, once you’re comfortable with crypto and exchanges, do take a look into this site.

Just like Coinbase, you will not able to transfer crypto out of Gemini until the bank transfer has cleared. You may also use Gemini to transfer USD back into your bank account.

Wallets

Once you’re able to transfer crypto out of Coinbase or Gemini, it’s safest to get control of the crypto in a holding area called a wallet. It is not advised to keep crypto on either Coinbase or Gemini because if their websites were to go down or go out of business, you would lose all of your funds.

On a technical note, your cryptos are never stored in the wallet. Each wallet is simply a different interface for interacting with the blockchain. Regardless if you choose an online, client-side, or paper wallet, the transactions of your address (roughly what a wallet contains) are still present on the blockchain.

Jaxx

Jaxx is the easiest wallet to use on a daily basis. You can use their phone apps and browser extensions in order to send and receive multiple cryptocurrencies. When setting up the Jaxx wallet, be sure to write down the recovery phrase so that you can access your funds from multiple devices.

Once a wallet is set up with Jaxx, multiple currencies can be selected to become immediately available for funding. Simply copy the address provided in Jaxx and funds sent from either Coinbase or Gemini will show up there.

Paper Wallets

A paper wallet (also called cold storage) is a term where the public and private keys are printed on a physical piece of paper, and stored in a safe. This can be done for any cryptocurrency and still receive funds. It’s best practice to do this to emulate a savings account, simply by sending crypto to this address, with the intent of not withdrawing it for multiple years.

Paper wallets can be created from something as simple as a sticky note with your public and private key on it. However this is accomplished, protect that piece of paper as if it contained cash, since the private key is all that’s required to send your funds.

Daily Revenue Generators

Buying and holding any cryptocurrency is a safe way of investing. On a global scale, the crypto market cap is tiny in comparison with the U.S. Stock Exchange, and will continue to grow for many years. However, using the services below can increase your crypto holdings and give you a growing daily income. My referral links and codes are provided.

BitConnect

BitConnect is a crypto trading bot that you lend funds, and in return, receive a daily payout in interest. The interest rate varies per day, ranging from 0% to over 5% (the 30-day average at the time of this writing is 1.19%). BitConnect also has tiered lending amounts which give bonuses to the daily interest paid out. Making a larger initial loan will grant you not only a higher interest rate, but a shorter period of time before your capital is returned to you.

The benefit of BitConnect compared to other lending platforms is that you get your capital back after a set amount of days. During the time of the loan, you are receiving daily payouts which can be reinvested, thus compounding your capital, or withdrawn.

The drawback of BitConnect is that in order to withdraw, you’ll need to exchange BitConnect Tokens (BCC) for Bitcoin tokens (BTC). This is a drawback because in the event of a market crisis, this may turn out to be difficult if no one is willing to pay for BCC tokens.

How much can you earn with BitConnect? Use the calculator here to find out.

Genesis Mining

Affiliate Code: Z6IcjG

Genesis Mining is a cloud mining company based in Iceland. They use the geothermal energy which is abundant on the island in order to power their mining plant, housing thousands of servers. They offer multiple plans in the form of hash power, which can pay out anything from a few cents to over $100 per day. Crypto mining is a very technical subject, however, Genesis Mining has proven to be a reliable company that, with a few exceptions, payout out every day.

Revenue from cloud mining will not be nearly as high as revenue from lending crypto, but can be a safer and less volatile form of income. It’s important to note that over time, the daily payouts will shrink in value. This is because the difficulty of mining increases, so it’s good to occasionally increase the hash power to stabilize the daily payouts.

Genesis Mining doesn't have its own calculator, but I found this one to be the best since it accounts for the increase in difficulty.

Control Finance

Control Finance is another company which uses trading bots to generate interest for its clients. The difference between this and BitConnect, however, is that you don’t get your capital back. If something were to happen to Control Finance, though, tehy will refund your capital, minus any withdrawals taken. The trade-off for that is stable and larger daily returns. As the capital grows, the interest increases to a maximum of 1.50% daily when over $10,000 is invested.

Control Finance has a calculator on this page so that you can see how much you would make off a deposit.

Thank you for reading!

Please use my referral links and codes to sign up for the services above. Part 2 will come next where I'll calculate realistic gains from BitConnect, Genesis Mining, and Control Finance!

• BitConnect: https://bitconnect.co/?ref=thodges
• Control-Finance: https://control-finance.com/?ref=thodges
• Genesis-Mining: https://www.genesis-mining.com
  • Affiliate Code: Z6IcjG