How to Make Money with Cryptocurrency?

    Never before in human history has there been a digital currency so popular as Cryptocurrency. Cryptocurrencies are becoming extremely popular today as a way to digitally pay for goods and services on the Internet. It has now become a well-accepted way to make transactions in many countries. The global economy is rapidly moving towards a digital eco-system right from money transfer to investment. With the advent of latest technologies and popularity of digital currencies, most business people have started using cryptocurrency to buy and sell goods or services to or from International customers.

    Do you want to make money with Cryptocurrency? To begin with, let's understand the basics of this digital currency...

    What is Cryptocurrency?

    A cryptocurrency is a digital asset that works as a medium of exchange and the entire ownership records are stored in a digital ledger or database. The database where the entire transactions are stored uses strong cryptography to secure record entries. Neither the currency exists in physical form nor issued by a central authority. Most cryptocurrencies use decentralized control and work through distributed ledger technology such as Blockchain. Blockchain technology serves as a public financial transaction database for digital currencies.

    Simply put, Cryptocurrency is a digital form of currency that is used as a digital form of exchange just like paper money. The currency uses an internet-based medium of exchange and leverages the best technology to gain transparency, immutability, and decentralization. The decentralized nature makes it immune to the old ways of government control or we can say interference.

    Cryptocurrencies can be sent via the use of private or public keys between two parties. The transactions or transfers are done with minimal processing fees. Currently, there are many types of cryptocurrencies such as Bitcoins, Ethereum, Ripple, Dash, Litecoin, etc.

    How to Make Money with Cryptocurrency?

    Over the last couple of years, the term 'Cryptocurrency' has been gaining immense buzz. At first it seemed somewhat scary but with the emergence of the Blockchain technology to keep the currency safe, it comes to be a popular choice.

    Want to get involved in the cryptocurrency sphere? Looking for ways to make money with Cryptocurrency?

    Buy & Hold a Cryptocurrency: Though there are different ways to make money with cryptocurrencies, your first option should be to buy coins. A lot of exchanges out there will allow you to buy trade coins and keep them in your wallet for transactions. You will need to create your account, buy coins by paying the market rate, and hold onto it until you can sell them up at a higher price. However, you need to be careful as cryptocurrency prices fluctuate.

    Stake on Cryptocurrency: This can be a great of earning money through cryptocurrencies where you get the dual benefits. You not only earn via the price appreciation for holding crypto coins in your wallet but also dividends as the additional reward for staking the coins. All you have to do is hold crypto coins 24*7 in a live wallet to earn new additional coins as a reward.

    Running Masternodes of Cryptocurrencies: An amazing way to earn passive income is by running master nodes of cryptocurrencies. A masternode is a cryptocurrency computer waller used for keeping the full copy of the blockchain in real-time. It is always up and running to perform certain tasks for which masternode owners get paid by cryptocurrency networks.

    Day Trading Cryptocurrencies: If you have that technical hand, opting for day trading cryptocurrencies can be a great way to make money. You will have to perform technical charting at various intervals in the day and trade different cryptocurrencies on various exchanges. All you have to do is buy coins on low and sell when the price is high. Being a volatile market, crypto can fluctuate depending on the choices you make.

    Work for Cryptocurrencies: This can be the best way to make money through cryptocurrencies. Whether you are a developer or a designer, a writer, or a tester, you can work for cryptocurrencies. You can not only make a decent amount of money by exchanging your services for it but also benefit from the price appreciation. You can start working with coins like Bitcoin, Litecoin, Ethereum, Monero.

    Accept Payment in Cryptocurrencies: If you are a merchant, accept cryptocurrency of your choice for payment. Accept the digital currency in exchange for your products and services as you will have access to many cryptocurrencies and Bitcoin payment processors. You will need a digital wallet and find clients or customers who are willing to pay in cryptocurrency. You can either use the coins to pay others for something or hold onto it until the price rises.

    Mining Cryptocurrency Coins: Mining your cryptocurrency coins can also be a great way to make money. Mining is all about bringing out the coins into the surface using special software. You will need to make initial investments for buying mining equipment and have some technical know-how of how to use and maintain the mining software and hardware. In cryptocurrency mining, the transactions are verified and added to the blockchain.

    Cryptocurrency and Bitcoin Faucets: Another easy way to earn quick money is through faucets, a reward system that dispenses rewards for completing a captcha or tasks like surveys as mentioned by the website. If you don't mind answering a few surveys and a few ads, visiting a faucet website can be the right choice. You will need to answer some short questions and get paid as a reward for completing the task.

    Writing or Blogging on Cryptocurrency Websites: This is one of the best and popular ways to make money and all you have to is write on websites that pay you in cryptocurrencies. As it is a new niche, there are not many writers who can create valuable content and if you have the talent, go for blogging. You can also directly make money with your content for providing full access to content to the respective reader.

    Cryptocurrency Arbitrage: There is money in cryptocurrency arbitrage as the volatile nature of the market gives rise to the opportunities. Arbitrage is the simultaneous buying and selling of currency, commodities, or securities in different markets and makes money by taking advantage of differing prices for the same asset. You will need to keep a close eye over multiple exchanges in multiple countries to make a big profit margin.

    Lending Cryptocurrencies: Put your money to work by lending cryptocurrencies and it can help you make a decent profit. The decentralized nature of crypto makes it easier to lend coins at a certain interest rate for a specific period. Many peer-to-peer lending platforms allow you to lend cryptocurrencies and get a good return on your investment in the form of coins.

    Go for Affiliate Marketing: Cryptocurrency affiliates can also prove to be a good way to make money. It works by generating sales leads for a product or services and you get a certain commission by the organization for bringing in potential customers. You can set up your own affiliate business by signing up for the affiliate program and sharing links to certain products and services on any web or social media.

    Even if the cryptocurrency market is loaded with opportunities, it is still not easy to make money without the proper know-how. It requires a good understanding of the concept, great technical skills, deep analysis of the market trends, and knowledge of the risks involved.

    Is Cryptocurrency A New Digital Future?

    Today, Cryptocurrencies have become a global phenomenon with many people using them as a medium of exchange. Paper is losing value every day as the entire world is going digital. Businesses these days want one currency or the same value of exchanging funds. Being a volatile market by nature, it offers a good platform for trading. Furthermore, the technological revolution is changing the way businesses used to work and everything is going digital.

    However, several factors determine the possible success of a cryptocurrency. But currently, it's impossible to go a few days without hearing something about the cryptocurrency market. Chances are, the trend will not lose its craze and has a lot of potential for being a well-accepted platform in the coming future.

    Cryptocurrencies also face criticism by certain authorities for its exchange rate volatility and vulnerabilities but also have been praised for their transparency, portability, and inflation resistance.

    Wondering what will be the next big cryptocurrency?

    The latest market trends show that Bitcoin is the king but there are over thousands of coins ready to conquer the world.

    Here's the list of coins that has the potential to be the next big cryptocurrency:

    ETH - Ethereum: Created in 2015, it is a global and open-source blockchain-based distributed computing platform that enables Decentralized Applications (DApps) and Smart Contracts to be built effectively. It helps eliminate any downtime, interference from a third party, or fraud. The apps run on a platform-specific cryptographic token called Ether and the platform is currently the second-largest digital currency after Bitcoin. It can be used by developers to pay for transaction fees and services using the Ethereum network.

    LTC - Litecoin: Launched in 2011, it is an open-source, global payment network that has no central authorities. The creation and transfer of coins are based on an open-source cryptographic protocol. Earlier it used to be a part of Bitcoin's Blockchain but with the latest Litecoin update, it split. It is the first cryptocurrency to use the Lightning Network that offers better scalability and able to process many more transactions per second. Although this peer-to-peer currency and global payment network is like Bitcoin in many ways, it has a faster block generation rate.

    XRP - Ripple: Launched in 2012, it is a real-time global settlement network offering instant and low-cost international payments. It enables banks to settle cross-border payments in real-time at lower costs while maintaining end-to-end transparency. It is a Blockchain that is designed to be used to make the payments faster and many well-respected companies or global banks are trusting this platform. The network is designed to create a fast and secure method of transferring money.

    LINK - Chainlink: A platform designed to bridge the gap between smart contracts on the Blockchain and real-world applications. It uses an Oracle reputation system to aggregate and weight the data and works on a decentralized network. The idea is to create a decentralized platform that is always available and resistant to possible manipulation. The chain link coin is an Ethereum token that powers the network allowing smart contracts to securely connect to external data sources, APIs, and payment systems.

    BNB - Binance Coin: A cryptocurrency created by Binance that has multiple use cases such as implementing transactions on the Chain, making in-store payments, paying for listing fees, exchange fees, trading fees, and more. The aim is to provide a seamless marketplace for trading in a variety of virtual tokens. It is also supported by the platform, cryptocurrency platform, the mobile app, the pioneering payments, and the VISA debit card of Monaco.

    Tether (USDT): Launched in 2014, it is one of the first and most popular of a group called stablecoins and the platform is designed to reduce volatility. The blockchain-enabled platform aims to smooth out price fluctuations so that more users can be attracted to a currency. It allows individuals to utilize a blockchain network to transact in traditional currencies. The crypto coins are backed by an equivalent amount of traditional flat currencies held in a designated bank account.

    Monero (XMR): Launched in 2014, it is a private and untraceable open-source currency that is completely donation-based and community-driven. The currency uses a public ledger which means anybody can broadcast or send transaction but no one can tell the source or amount. It was designed with a focus on decentralization, scalability, and security. It uses a special technique called ring signatures to ensure exceptional privacy and security.

    Are you ready to try your hands on Cryptocurrencies? 


    • December 7, 8.00
      D. jhon shikon milon

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