- 15 Mar 2021
- 2 minutes
Cryptocurrency has been the subject of mainstream debates for quite some time. Everyone gets into the wealth management and cryptocurrencies field, but not everyone ends up doing that. Many people give up or fall into one trap or another with the increasing number of crypto fraud cases.
You can take advantage of cryptocurrencies in different ways.. But first, let us think about why cryptocurrencies are so popular in the first place. Then, you will come across ways to make money through cryptocurrencies.
What are cryptocurrencies?
A cryptocurrency is a digital or virtual currency secured by cryptography, making counterfeiting or double-spending nearly impossible. Many cryptocurrencies are decentralized networks based on blockchain technology - a distributed ledger enforced by an uneven computer network. A distinctive feature of cryptocurrencies is that they are generally not issued by a central authority, making them theoretically immune to government interference or manipulation.
Cryptocurrencies to invest in
Below are some of the major digital currencies, except Bitcoin. While Bitcoin is widely regarded as a pioneer cryptocurrencies world, analysts use many approaches to value tokens other than BTC.
Bitcoin Cash (BCH)
Ways to earn through cryptocurrency
Earn cryptocurrency dividends
Did you know you can buy crypto and hold it for a dividend? Well, there are several coins that you get paid with simply by buying and holding their digital assets. The best thing about these coins that pay dividends to holders is that you do not even have to put them in, especially in a wallet.
It is another way of making money with cryptocurrencies. It offers double the earning potential by increasing the price and paying dividends from select coins towards the stake (or proof of stake) of their digital assets. Coins are kept in a live wallet when staking, so you can earn additional coins for securing that particular crypto network. Some examples of coins include NAV Coin, PIVX, Neblio, Decred and many more.
Over 80% of cryptocurrency investors believe that the only effective way (if not the only way) to make money in this space is through day trading. However, what most of them do not know is that day trading is more than just holding an asset until it increases in value. It takes a lot to be a day trader, but the most important thing is that you have the right analytical and technical skills.
You need to analyze market charts for the performance of the listed assets. This may be the most comprehensive way to make money with cryptos, but I think it is one of the most rewarding ones.
Work for cryptocurrency companies
This is a common way of making money in the industry. Anyone can work for a cryptocurrency company in any capacity. You could include a digital marketer, content creator, web designer. All you need to do is identify their needs and show them how your skills can help solve a problem.
Now a final call is can you make money with cryptocurrencies? Yes, but you need skills and knowledge about digital money. You have many options for making money with cryptocurrency in the US. Try the ones that work for you and see what impact they have. And if you have not tried a method yet, you should give it a try.