Since the dawn of bitcoin, virtual money and blockchain-based solutions in various forms have been keeping us excited.
As a digital medium of exchange, cryptocurrency offers a lot of possibilities. One of them is the promise of substantial profits. Everyone interested in the subject would love to make money on cryptocurrencies, and there are few ways to do so.
Everybody’s doing it
When an individual is serious about getting their feet wet in the world of crypto, chances are they follow the herd. The typical approach to investing would be just to buy particular coins and wait for the perfect opportunity.
There are usually distinguishable shifts in value that give the interested parties some room to make their move. Especially if we’re talking about the big and commonly recognized brands as Bitcoin, Ethereum, Ripple, or Litecoin. Smaller altcoins could also provide potential money-making moments. Buying cheaper and selling for more is the idea here.
However, it is easier said than done. Investors must be prepared for anything, as crypto is more unpredictable than conventional trading assets. It’s a big risk and big reward type of thing. The good news for the patient who wait for their window of opportunity is that some companies would offer to pay dividends for purchasing and holding on to their coins.
Free lunch?
People often look for easier ways to make money without breaking a sweat. As we are all aware, nothing is entirely free. Either we don’t get what we expected, or we end up putting a lot of effort in the end. The same goes for earning free virtual coins.
To some extent, it is possible to accumulate small amounts of crypto. There are many methods to achieve that. Most of the initial ideas, including free faucets that drew small quantities of coins, and mining, were practical before the crypto boom started for good. Nowadays, it will take some time and maybe even investments to see some results. The free lunch may be free but could leave you unsatisfied.
Therefore, it’s best to decide what type of activity suits you personally. You can even have fun with alternative methods of collecting little bits of cryptocurrencies, for example, by playing games. Many of those would work similarly to faucets. But there is an exciting idea to combine entertainment and good earnings. Some online games accept various cryptocurrencies as payment. So, if you’re any good, it could bring some extra income.
There is no shortage of diverse and absorbing casino and card games that we can put together under a collective name ‘bitcoin games.’ Those will allow you to play with other cryptocurrencies as well. Sometimes, even the gaming companies might create their own coin and accept it on their platform. It’s safe to say that casino games providers are no strangers to the whole blockchain concept, as they embraced it since the early stages.
Stepping up the game
Sitting on a pile of your digital cash is not a guaranteed success, and your perfect moment may or may not come. Therefore, most professional investors would point out that day trading is the only effective method to earn money on crypto.
The concept is based on buying and selling coins within the same trading day; instead of a bigger, one-time deal, you would make to help your assets rise to a higher value. Trading, however, needs constant attention, and it’s harder to pull off. A certain amount of technical and analytical skills is required.
Get paid
You would have to be lucky to stumble upon an enormous pile of high-value cryptocurrency just like that. However, that doesn’t mean you cannot be rewarded in coins for your hard work. Many tasks can bring home a payday in bitcoin or other virtual coins.
Having the desired skill set, you could easily find a job in the blockchain industry itself: become a community manager, content writer, customer support, coder, etc. Getting paid in crypto could turn into a long-term system that will provide a steady source of passive income. Sales and affiliate marketing programs are a great start.
