Crypto has made many people a fortune over the past couple of years. However, you are not guaranteed a profit when working with crypto. Here are five ways to make money with cryptocurrency:
- Social Media
- Staking and Lending
In this article, we will briefly cover how each method can help make you money.
How Do I Make Money with Crypto by Investing?
One of the most passive ways to make money with crypto is through investing in a coin and using a buy-and-hold strategy. For this strategy to work you will want to invest in a coin that has shown returns over an extended period of time.
How Do I Make Money with Crypto by Trading?
Day trading is another way to make money through investing in crypto. You’ll need to be a little more active as you have to study trends and pay attention to shifts in the prices of coins.
How Do I Make Money Mining Crypto?
Mining cryptocurrency requires an upfront investment in hardware. However, you are essentially generating the value of the cryptocurrency that you are mining and therefore can have some huge returns.
How Do I Make Money From Advertising Crypto on Social Media?
There are thousands of different cryptocurrencies on the market. Companies will pay influencers some big money if they are able to successfully advertise crypto on their page.
How Do I Make Money Staking and Lending Crypto?
Staking works almost like a CD. You are essentially locking your crypto in a wallet and lending it to a Proof of Stake Network to validate the value of the crypto. You, in turn, earn interest on that money.
You can also lend crypto to other investors who then will pay interest on the “loan.” In theory, you should get your initial investment back, plus interest.