Home Business Insights & Advice Earning money through cryptocurrencies

Earning money through cryptocurrencies

by Sarah Dunsby
2nd Aug 18 7:18 am

Countless individuals want to earn income through cryptocurrencies. Luckily, this article is going to share a few of the greatest ways to earn income in the crypto world.

However, everyone must keep in mind that they should always be aware of scams alongside making a profit. This is because the chances of them getting caught in a scam are high in a decentralized sphere such as cryptocurrencies. Fortunately, you could avoid scams and fraud by utilizing trading software like BTC profit which helps keep transactions safe and offers valuable data to make informed trading decisions.

Hodling strategy

Buying promising cryptocurrencies that have an essential use case is one secure method to earn a profit in the crypto world. People must hold onto them until they reach their target price on the market. For instance, cryptocurrencies such as Monero, Litecoin, Ethereum, and Bitcoin are secure purchases since they have proven to have real-world applications.

A person could purchase and hold them for a long period since they’re bound to escalate against the fiat pairs of EUR, USD, etc. In addition, there are a lot of blogs out there that offer fundamental reviews of cryptocurrency projects, helping investors decide whether it’s time to sell the coins or continue storing them.

Purchasing and holding cryptocurrencies for dividends

A wise method of gaining prints from cryptocurrencies is to purchase and hold cryptocurrencies that recompense dividends. There are a lot of good cryptocurrencies that reimburse a fair share simply for holding them. Aside from that, a person isn’t even needed to stake them. Examples of such cryptocurrencies are CEFS, KuCoin, COSS, and NEO.

Staking cryptocurrencies

A lot of individuals love this method of making money since they acquire the double advantage of price increase for holding great crypto coins plus the extra reward as dividends for staking them.

Generally, staking is holding crypto coins 24/7 in a live wallet. Therefore, a person is gaining new extra coins as the reward for securing and staking the network of the blockchain. Several great coins in this field are BirdgeCoin, NAV Coin, Decred, PIVX, Komodo, and Neblio.

Master nodes

One method of earning in the crypto-world is operating master nodes of cryptocurrencies to earn smart passive revenue. A master node is just a complete node of cryptocurrency or computer wallet that maintains the complete copy of the blockchain in real-time.

Various networks of cryptocurrency reimburse the owners of master node for doing such responsibilities. But, for operating a master node, a person should have a minimum number of coins, to begin with. The minimum number to begin with a master node differs per coin. However, it is normally in the range of 1100 up to 26000 coins.

Microtasks

A person could do a few microtasks for someone or some service if they have a lot of free time. In exchange, that person will earn cryptocurrency. The microtasks could be something like doing surveys online, watching videos, testing new applications, etc. Several services that offer microtasks are Bitcoin Rewards, Coinbucks, and Bituro

Work for cryptocurrency

This is a fitting method of gaining from cryptocurrencies. A person could immediately earn cryptocurrencies by exchanging their services for it if he or she is a designer, a writer, or a tester.

A word of warning

There are a lot of frauds going on in the crypto-sphere. A lot of experts suggest not getting involved with these since they aren’t worth the time, especially if one wants to earn money legally. It’s best to gather online testimonials to vet the legitimacy of platforms before shelling out money.

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