Every person who enters the cryptocurrency field has the objective of making money, but not everyone is able to achieve that. A large percentage of people simply lose hope along the way. They are unaware of how cryptos can be used in many ways to earn.
Every crypto enthusiast needs to learn and understand that apart from trading, there is a number of methods that let you make legal money with cryptocurrencies. In this article, we shall discuss some of the popular ways of making money with cryptocurrency.
Mentioned below are the top 5 ways to make money with cryptocurrency.
1) Buy, Hold and sell to book profit
This is the most popular method of earning money from cryptocurrencies. The majority of the investors buy coins such as Bitcoin, Ethereum, Ripple, etc, and wait until their price rises. Once it reaches the limit that an investor has set, they gain profits with ripple bitcoin or eth btc conversions.
Cryptos such as Bitcoin and Ethereum have a huge market cap and are known to have regular price fluctuations; thus giving opportunities to investors to sell and book profit.
There are plenty of small altcoins as well that have substantial price shifts. Investors can consider having a mix of both. By using Coinswitch, the world’s largest aggregator of crypto coin exchanges, you can buy, sell and trade over 300 cryptos with the possibility of exploring more than 45000 crypto pairs. It has partnered with global exchanges like Changer, HitBTC, IDEX, and KuCoin. You can buy eth with credit card on Coinswitch in addition to almost all prominent cryptos.
2) Cryptocurrency Dividends
There are a number of cryptos that pay you dividend for buying and holding their digital assets. Some of the coins that pay out dividends are COSS, NEO, CEFF, KUCOIN, and many more.
3) Running Cryptocurrency Master Nodes
Master nodes are full nodes that motivate operators to execute their roles in operating a blockchain. It is a computer wallet that maintains a real-time record of activities of a blockchain. The process is complex and many cryptos pay node operators to maintain a real-time record of their activities.
4) Staking Cryptos
Staking cryptos involve holding coins in a live wallet, which lets you earn additional coins for securing that crypto network. It offers earning through price appreciation and dividend payout from selected coins for staking their digital assets.
5) Day Trading
Many experts believe that day trading is an effective way to earn money in this field. A person needs to have good analytical and technical skills to become a successful day trader. It is probably the most rigorous way of earning from cryptos but also the most rewarding.