Currently, it’s almost impossible to go a few days without hearing about the latest cryptocurrency craze. We regularly hear about how Bitcoin or Ethereum is skyrocketing. Chances are, you’ve thought about how to make money with cryptocurrencies. The question is how can you actually make money by investing in cryptocurrency?
There are various ways to make money with cryptocurrencies, and we’ll explore some of them.
6 Ways To Make Money With Cryptocurrency
1. Buy and Hold Cryptocurrency
One safe way to earn money in the world of crypto is to buy worthwhile cryptocurrencies that have an elementary use case and hold them until they obtain a fair market share. Cryptocurrencies like bitcoin and Ethereum are secure investments most of the time.
Assets such as Bitcoin and Ethereum have been known to maintain regular price fluctuations; they can, therefore, be considered a safe investment in this regard.
They can be bought and held for a longer term because they are likely to appreciate against the fiat pairs of USD, EUR etc.
2. Earn Cryptocurrency Dividends
There are different ways by which you can earn dividends in the crypto space by HOLDing a cryptocurrency. However, these differ from currency to currency because each has its own way of operating and has its own rules and regulations.
3. Stake Cryptocurrency
Staking is basically holding crypto coins 24*7 in a live wallet, hence earning new additional coins as a reward for staking and securing the blockchain network. Staking involves holding coins in a live wallet, thus allowing you to earn additional coins for securing that particular crypto network.
4. Accept Payment In Cryptocurrency
If you have a business where you sell products or services, you can accept payment in the cryptocurrency of your choice. You can find clients or customers that use cryptocurrencies and are willing to pay you by transferring the coin through the blockchain.
5. Complete Cryptocurrency Tasks
If you don’t mind going the extra mile, you sure can complete some micro tasks for platforms and earn cryptocurrencies in return. These micro tasks can be something like downloading new apps for testing, watching videos, doing online surveys etc.
Trade your Other Cryptocurrencies for Cash
If you’ve got cryptocurrencies such as bitcoin, you can easily trade them for cash. Cardtonic allows you to quickly trade your non-bitcoin to bitcoins, such as gift cards. You don’t even need an account to make a trade.
Simply go on the platform, you can start a chat if trading via website, state the amount you wish to convert or trade, your bitcoin address, and your cryptocurrency refund address. However, a faster method is trading via the mobile app, where all trading options have been set for you.