Make money with Cryptocurrencies NOW

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How to Make Money with Cryptocurrency (With No Experience)

You’ve probably heard of cryptocurrency (or crypto, in short form), and are interested in learning how to make money with cryptocurrency. Crypto is one of the hottest investing topics right now and there are news articles all over talking about how people are becoming millionaires by investing in altcoins.

Table of Contents

You might have done some research but thought it looked too technical or complicated. We’re here to tell you that it’s not! Anyone can learn how to earn money with cryptocurrency and by the end of this article, you’ll be able to start yourself. We’ll also help you by categorizing the methods based on:

Read on as we walk you through it and cover several great ways of earning an income with cryptocurrency.

– 1 –В

Buy and hold

Buying and holding is the method you’re probably most familiar with when it comes to investing and making money with cryptocurrency: You purchase some sort of asset (like stocks), you let interest build up, and then you eventually cash out.

It’s the same idea in buying and holding with crypto, except you are waiting for the price of your chosen currency to go up so you can sell at a rate higher than when you bought.

This is one of the best and easiest ways to focus on how to make money in cryptocurrency.

For example Bitcoin was worth around $13 in 2020, and at the most peak price we’ve seen so far was nearly $20,000 in 2020. That means if you had just purchased $200 of Bitcoin in 2020, it would have been worth over $300,000 if you sold at the peak price! That’s a 1500x return on your money, nearly unheard of in such short of a time in the stock market. It really shows the power of making an income with cryptocurrency.

If you’d like to know how to make money with cryptocurrency by using buying and holding, we have some articles ready for you so you can get your coins and get started!

How to buy bitcoin

How to buy litecoin

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How to buy ethereum

How to buy ripple

While there are MANY different coins out there, we recommend you stick to the 4 mentioned above. These are the safest and have been around for a while. If you invest in a new coin it might be cheap to buy lots of them, but there’s a very high chance the coin could just disappear. Coins that have been around a while don’t have that same risk.

If you’re ready to buy, we recommend that you visit Coinbase, which has been ranked as the most “beginner friendly” exchange. Click here to visit Coinbase and when you sign up, you will receive $10 in FREE Bitcoin on your first $100 order!

– 2 –В

Buy and hold for dividends

The strategy and currencies above will pay you when you eventually sell at a higher price than when you bought. However, some currencies will actually pay you just for holding them, which makes this a very lucrative method of making money You don’t actually purchase or own the cryptocurrency…you simply hold it and keep it in circulation. Some examples of these coins are:

– 3 –

Staking cryptocurrencies

This strategy combines the first two we mentioned: you buy a currency, hold it, plan to sell it for a profit at a later time, AND you also receive dividends from just holding it. This is a great secret in making money with cryptocurrency.

Some examples of these cryptocurrencies are:

В – 4 –В

Mining

When considering how to make money with cryptocurrency, mining is one of the methods that always comes up. Mining cryptocurrency is one of the best ways to make money with altcoins as it’s extremely passive: just invest in the equipment, set it up, and let it run.

But there’s the only possible issue…investing in the equipment. While you can mine cryptocurrency without extremely high end hardware, the better the hardware, the faster it can create more coins for you and the better your chance of actually making money. Mining works by having computers solve complex mathematical problems, and when they solve them, you are rewarded with cryptocurrency.

The thing is that as more cryptocurrency is created, the problems get harder and harder, and so if you don’t have a high end system, it can take a LONG time to solve things. You might also need cooling units, extra electricity upgrades, and more to support all this.

Also MANY different people are trying to solve the same problem at the same time. If your computer is too slow and someone else solves the problems first, you get nothing, so investing in a high end system is almost always needed.

Top 13 Ways To Make Money With Cryptocurrency (In 2020)

CoinSutra » Cryptocurrency » Top 13 Ways To Make Money With Cryptocurrency (In 2020)

Do you want to earn money from cryptocurrencies?

Well, who doesn’t!

Hence, in this article, I am going to share with you some of the best ways of making money in the crypto-sphere.

Of the ways listed below, I personally use some of them to book profits, and I’m not complaining.

However, alongside making money, you also need to be aware of scams because, in a decentralized space such as cryptocurrencies, the chances of you getting caught in a scam is also very high.

Top Ways to earn money from Cryptocurrencies

1. Buying & HODLing

One safe way to earn money in cryptoland is to buy good cryptocurrencies that have a fundamental usecase and hold them until they obtain a fair market share. For example, cryptocurrencies like:

…are safe buys most of the times. You can buy and hold them for a longer term because they are bound to appreciate against the fiat pairs of USD, EUR etc. Also, on our CoinSutra blog, we have reviewed more than 15 cryptocurrencies fundamentally.

That, however, is NOT an investment advice but an example of how to get started in picking the right unicorns for yourself.

2. Staking Cryptocurrencies

I personally like this way of earning because you get the dual benefit of price appreciation for holding good crypto coins plus the additional reward as dividends for staking the coins.

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. Some noteworthy coins in this segment are:

Tezos is the most popular and highly funded coin that offers 6% ROI year on year.

However, the best part is,

you also earn money when the value of Tezos increases as more users adopt it.

There are a various ways you can stake Tezos:

  1. Using Binance Exchange: Here you can purchase Tezos (XTZ) coin using Fiat or exchange it for Bitcoin.

We also did a detailed analysis of some of these coins. You can read it here.

3. Buying & Holding Cryptocurrencies For Dividends

Another smart way of earning through cryptocurrencies is to buy and hold cryptocurrencies that pay you dividends. There are many some great cryptocurrencies that pay you a fair share just for holding them and you are not even required to stake them, especially in a wallet. Some of these cryptocurrencies are:

We did a detailed analysis of these currencies for you to understand in detail and choose the right ones for your portfolio.

4. Masternodes

Running masternodes of cryptocurrencies to earn smart passive income is also one way of earning in the cryptosphere. A masternode is simply a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real-time, just like your have Bitcoin full nodes, and is always up and running to perform certain tasks.

For performing such tasks, different cryptocurrency networks pay the masternode owners. However, for running a masternode you must have a minimum number of coins to get started. The minimum amount to get started with a masternode is different for all the cryptocurrencies but it is usually in the range of 1000 to 25000 coins.

Some proof of stake currencies that have the masternode functionality are:

See here for more proof-of-stake coins.

5. Microtasks For Cryptocurrencies

If you have extra time on your hands, you can do some microtasks for somebody or some service and earn cryptocurrencies in exchange. These microtasks can be something like downloading new apps for testing, watching videos, doing online surveys etc. Some services that provide you such microtasks are:

These services pay you in different coins like Bitcoin, Dogecoin etc.

6. Day Trading Cryptocurrencies

If you understand and are good at technical charting at various intervals in the day, this method of earning is for you. You can day trade different cryptocurrencies on various exchanges such as these:

The idea is simple – buy low and sell high when you target is reached. This method works very well for a technical charting person because crypto, being a volatile market, can fluctuate 20-50% in a day depending on the choices you make.

7. Work For Cryptocurrencies

This is an apt way of earning through cryptocurrencies. If you are a developer or a tester, a writer or a designer, you can start earning in cryptocurrencies right away by exchanging your services for it.

There are numerous platforms and websites that offer you Bitcoins in exchange for your service, some of which are:

This way you not only earn cryptocurrencies but also benefit from the price appreciation that cryptocurrencies, on the whole, are witnessing over the past few years. You can start by working for these cryptocurrencies in my opinion:

8. Accept Cryptocurrencies If You Are A Merchant

Another way to earn cryptos is accepting them in exchange for your products or services if you are a merchant. As a merchant, you have access to many cryptocurrencies and Bitcoin payment processors that can help you in accepting cryptocurrencies.

Even online businesses owners and e-commerce websites can adopt this way, thereby getting the dual benefit of crypto price appreciation and also earning cryptos directly.

8. Cryptocurrency Arbitrage

As we all know, the cryptocurrency market is a free market that is beyond the government’s control, which is why we have a lot of price difference across different exchanges and also the volatility.

Another way of earning in the cryptosphere is to buy a certain cryptocurrency from one exchange which is being sold on a lower price compared to another exchange, thereby creating an opportunity to buy low and sell high on another exchange to earn a good cut in between. This is called arbitrage.

Cryptohopper is one such crypto trading bots that teaches you, and let you execute arbitrage trading.

You will usually find 5% to 40% of spread if you know how to make use of it. Exchanges like Bittrex and Poloniex provide such opportunities more often.

9. Blogging On Cryptocurrency Websites

You can earn money by blogging and writing on websites that pay you in cryptocurrencies if your content is liked by the readers. Also, if you already know that your content is valuable, you can even directly monetize your content for cryptocurrencies for giving the full access of content to the respective reader.

Some of these websites are:

10. Cryptocurrency Faucets

Another easy way to start earning quick Bitcoins is through cryptocurrency and Bitcoin faucets.

For those of you who don’t know what Bitcoin faucets are:

Bitcoin faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website. There are also faucets that dispense alternative cryptocurrencies.

These faucets have you do menial tasks such as solving captchas, playing games, clicking on ads, or watching videos. For each task you do, you earn a small amount of Bitcoin.

You can find a list of popular Bitcoin faucets here and here.

However, this way of earning isn’t really an option for people who are already involved in hectic, full-time jobs. That is why I have kept this option at the bottom of the list.

11. Lending Cryptocurrencies

Following the popular saying “You should put your money to work” is another way to earn in this space.

If you are already HODLing Bitcoin or Ethereum, you can put your money to work and earn some profit on it by lending it out. There are many peer-to-peer Bitcoin lending platforms that allow you to do this while giving you a decent 12%-18% return on your investment in the form of Bitcoins.

I have already done a detailed write up on such Bitcoin P2P lending platforms.

A word of caution: This space of lending is highly unregulated, so choose the person who you lend your Bitcoin to diligently and strictly adhere to the platform policies to make sure you get your returns. Slow, but steady, more regulated players are evolving in this space like the SALT Lending platform. It is, however, too early to comment on them.

12. Mining Cryptocurrencies

Cryptocurrency mining is another good way to make money in the cryptosphere. This option, however, does not seem too lucrative to us yet and that is why it is the last one on the list.

But it doesn’t mean that this method doesn’t work. Sure it does, if you are ready to make initial investments for buying mining equipment like ASIC and GPUs plus the additional supporting hardware.

Also, to successfully mine and earn from cryptocurrencies, you should have access to cheap electricity to run this mining equipment along with the technical know-how of how to take care of the software and hardware mining stuff.

These days mining has become a very competitive task that requires a good initial investment to start with, and that’s why we are not particularly interested in this method.

Make Money With Bitcoin & Cryptocurrencies

That is all from my side. But before I go, I want to address one thing:

There are a lot of scams and illegal MLMs going on out there that promise you high returns. My recommendation would be to not get involved with these schemes because they are not worth the time if you want to earn legally. A recent example was the Bitconnect MLM scheme that came down crashing in one day.

I will be back soon with some more secure and legit ways of earning from cryptocurrencies. Until then, stay tuned to CoinSutra and don’t get caught in trouble.

If you like this article, share it with your friends & family on Facebook & Twitter!

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An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world.

After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.

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3 Ways to Make Money With Cryptocurrencies

Right now, it’s practically impossible to go a few days without hearing about the latest cryptocurrency craze. We hear about how Bitcoin or Litecoin is hitting a new high. Chances are, you’ve thought about how to make money with cryptocurrencies. But how can you actually invest in these digital currencies to make money?

There are different ways to make money with cryptocurrencies, and we’ll look at three of them:

1. Buy (or trade) a Cryptocurrency

Your first option is to just buy coins. There are different exchanges that will allow you to buy or trade coins to keep in your wallet. One of the most popular exchanges is Coinbase. Coinbase offers a super clean user interface and is one of the best ways to get started if you have no prior experience in cryptocurrencies. You can sign up here for $10 in free credit!

Once you’ve created your account you pay the market rate for the coin and then hold onto it until you’re ready to sell. The hope, of course, is that the price goes up.

However, like any investment, you need to be careful. Cryptocurrency prices fluctuate. Right now, Bitcoin is very high-priced. You might have a hard time buying Bitcoin and having it appreciate enough.В Some people hope to make money with cryptocurrencies by purchasing Litecoin or Ethereum instead.

In the end, you need to make sure you go through a reputable exchange, and that you back up your digital wallet. Then, you need to pay attention so that you can sell your coins when you feel like your profit has been reached.

2. Accept Payment in Cryptocurrency

Another way to make money with cryptocurrencies is to accept them for payment. If you have a business where you sell products or services, you can accept payment in the cryptocurrency of your choice. You need a digital wallet, and to work with people who are willing to pay in cryptocurrency.

With a little research, you can find clients or customers that use cryptocurrencies and are willing to pay you by transferring the coin through the blockchain. You will have to be able to calculate a rough estimate of what a service might cost, though, based on the value of the coin. If I were to accept Bitcoin for some of my services, I might ask for one-fourth or one-third of a Bitcoin, depending on the project.

Other currencies are less valuable, though. I might be able to ask for three or four ETH if I were being paid in Ethereum. The idea is to have a feel for how your products and services translate into the cryptocurrency of your choice.

After you receive the payment, you could either use it to pay others for somethingВ or hold onto it until it rises in value. If the value of the coin goes up, you could see a solid profit by selling for U.S. dollars later.

3. Mine Your Own Cryptocurrency Coins

Finally, it’s possible to mine your own cryptocurrency coins. However, we aren’t in the days where you could just use your home computer to work on mining Bitcoin. Today, with so many miners working with their rigs, it can be difficult if you want to make money with cryptocurrencies through mining.

You need to invest in graphics cards and the right setup for the best chance. You need to know how to build a computer. Once you get it set up, you will be using more electricity. Some coins might be faster to mine than others. For example, you might have more luck mining Litecoin than Bitcoin. However, Litecoin doesn’t sell for as much. You could also mine something like Monero. You can get a lot of them faster, but then you have to be able to sell them on the exchanges. There might not be enough demand for you to sell all your coins if you mine something less popular.

No matter what method you use to make money with cryptocurrencies, though, you have to be aware of market conditions. If a coin drops in value, you might have to wait until it rises again to sell — or it might be a coin that doesn’t pan out and then your losses are permanent. Make sure you understand the risks before you start.

    Categories: Personal Finance
Miranda Marquit

I’m Miranda and I’m a freelance financial journalist and money expert. My specialties are investing, small business/entrepreneurship and personal finance. The journey to business success and financial freedom is best undertaken with fellow travelers.

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