As we all know cryptocurrency has gained a momentum in our society in recent times both globally and locally.Hence individuals interest from different fields,backgrounds has broaden in the sphere of cryptocurrency.
The need to answer divergent questions ranging from how? when?where ? to get cryptocurrency became imperative, hence necessasited this topic "how to make money in cryptocurrency "
Before we proceeds to the ways of making money with cryptocurrency, let's define the term Cryptocurrency -
It implies digital money, it is regarded as virtual currency.,it's popularly called "Cryptos" We have more than 800 digital coins in coinmarketcap.Bitcoin is the top coin and the first decentralized digital currency in the world, follow by others like Ethereum, Xrp,Litecoin,Eos Cardano, Tron, and many more.
There are various ways to make money with cryptocurrency . I will explain four methods in which you can achieve your goal of making money in cryptocurrency.
Firstly ,Buying and HOLding cryptos :
The act of buying and holding cryptos is the regular practice by the people involved,which are popularly refer to as Crypto-Hodlers.
Before buying cryptos , you need to open an account with crypto exchanger ,use this two link to create trading account , This is the trading platforms were you can buy and store your coins. The goal of buying and storing is to wait for a high or increase in price.
Secondly, You can mine Cryptos :
Mining of cryptos to make money is quite complex and cumbersome especially for beginners. The reason behind this is that, the whole process involves sophisticated machines to mine,it also consumes a large amount of electricity. This whole process is mostly done through large scale operations. As a beginner, this will be a wrong way to start.
But you can engage in bitcoin mining by investing in expensive mining hardware. it is strongly advisable for you to join a mining pool. In a mining pool, miners pool their resources together, share their hashing power with the aim of solving a block and dividing the reward equally, depending on the number of shares contributed by each person. It is an effective way to motivate small-scale miners to continue their involvement in mining activities. You can do your own research on mining pool.
Thirdly, become a cryptocurrency exchange platform:
This implies you creating a cryptocurrency trading platform where every day traders can trade different kinds of cryptocurrency in turn they are charged commission each of the trade executed .That is you stand as an intermediary between a seller and a buyer for the purpose of fairness and profit maximization.
The following are some of the online trading platforms :
https://remitano.com/ng?ref=perryugbo , https://www.binance.com/?ref=10190727 ,allows you to trade Bitcoins for fiat currencies through individual trades. Sometimes referred to as over the counter trading or OTC. Most people are comfortable selling bitcoins over the counter as the transactions are fast and they offer diverse methods of payment.
Fourthly accept cryptos by Selling Goods and services :
Do you know you can sell goods and services in exchange for bitcoin? Well, yes you can and this has really raised the hopes in the future of cryptocurrencies. Some of the things you can sell are clothes, old gadgets, cars and even homes in exchange for bitcoin. There are several platforms out there that can also help with making this possible, bitify and purse.
Also, there are numerous crypto-based freelancer platforms where one can offer their services, such as http://www.xbtfreelancer.com/?ref=27143 and many more .
Conclusively, the need to invest in cryptocurrency can not be overemphasized , because the adoption of cryptocurrency will bring about new economic revolution that will stimlate individual financial growth and eliminate bank or government control. It's time to take action with these information.
Disclaimer: This is not a financial advice, it is my own opinion, am not responsible for any financial loss. It is also imperative to note that there are risks involved due to the volatile nature of cryptocurrency ,as such ,invest what you are willing to let go.