Here are 12 ways you can make money from Cryptocurrency. Don’t be fooled into thinking the only way to make money is to buy bitcoin. There are lots of exciting opportunities in the crypto space and lots of different ways to make money.
Buying and Holding
The easiest and most passive way to make money from Cryptocurrency is to just buy and hold. It’s a strategy that has worked well in the past. Many people believe it will work well in the future too. With a limited supply of Bitcoin available, it makes sense that it will become more valuable over time.
And the easiest way to Hodl is either buy a one off purchase on Coinbase or set it up to make regular small purchases to grow your holding over time.
Bitcoin is not going to double 100 times over anymore. But there are lots of alt coins that could potentially have massive increases. Most of my cryptocurrency profits have come from investing in Altcoins. The trick is looking for coins that have fundamental value. There are lots of “shitcoins” out there, so finding the good ones can be tricky.
The best place to start is with the Coins listed on CoinSpot. These coins, although popular enough to be listed on CoinSpot, still have plenty of growing room.
Trading Stocks and Forex using Bitcoin
You can use Bitcoin to trade stocks and forex cfds. There are a number of different brokers that deal exclusively in cryptocurrency. So instead of depositing fiat, you deposit and trade using Bitcoin. It’s a great way to grow your bitcoin while the markets are flat.
These Brokers which accept Bitcoin deposits:
Many cryptocurrencies are mined. These include Bitcoin, Litecoin and Ethereum. Miners are an essential part of the blockchain infrastructure. You can now mine in the cloud using services like Hashflare. You don’t need worry about buying and setting up any hardware. You just buy a contract and the cloud mining company handles the rest.
I’m not sure as to how profitable these cloud mining services are. I’ve purchased a number of contracts through Hashflare and have had mixed results. A lot depends on the price of Bitcoin.
You can short bitcoin and profit when the price falls. The easiest place to short bitcoin is through eToro. Shorting anything, let alone Bitcoin is quite risky. And I wouldn’t recommend it to anyone other than experienced traders.
You can lend out your Bitcoin and earn interest. Lending marketplace Bitbond lets you lend your bitcoin out to ecommerce businesses. And you can invest small amounts in multiple loans to diversify the risk.
Earn Interest from Staking
Coins like Navcoin rely on coin holders to “stake” the coin and verify transactions. In return for staking you earn interest. Navcoin pays 5% annually. While this isn’t much, it’s way more than you would earn in a bank account, and there is also the chance the coin could massively appreciate in value. Staking is a bit like mining, but it doesn’t require any special or powerful hardware. You can run the staking application on a basic low spec laptop.
Write Content on Steemit
Steemit is a social network/content platform where users are paid for contributing high quality content. The mechanics of Steemit are a bit complex and beyond what I can post here. But essentially if you write quality posts, and join in the community you will get paid small amounts. The top content creators make enough to pass as a part-time income.
Run a Masternode
Masternodes require you to lock up a significant amount of a coin and help run the network. In return you earn some rewards. This site shows how profitable running a masternode is and how much of the coin is required. Running a masternode does require a significant amount of capital up front, but it’s a good way to support cryptocurrency and earn a small passive income on the side.
Complete Micro Tasks
Micro tasks are as simple as responding to a question or writing down what you see in a picture. There are sites where you can complete micro tasks in exchange for Bitcoin. This work is pretty mindless, but it’s a good way to earn a little income on the side.
Sites like Earn.com will pay you to read messages. They’ll also pay you to reply to emails and answer messages. Basically you’re getting paid to learn about new crypto projects. There are so many crypto projects out there and they’re desperate for users. So desperate they’ll pay to reach you.
Airdrops are where a coin developer gives out a proportion or all of their coin. It’s a way to quick start it and get it used. Airdrops are free. So you are basically getting something for nothing. If you hold on wait for these coins to get listed on exchanges you can liquidate the coins you got for free. You won’t get rich from Airdrops but it’s a good way to get something for nothing – which doesn’t happen much in life! Sign up to Earn to get emailed when new Airdrops launch.