How to make money with coins: a short guide2023-05-30
TOP-8 ways to make money with coins
One of the most popular topics for making money is cryptocurrency. In recent years, the industry is replenished with new players, thus there are more options to get a digital coin.
Let’s take a look at the most well-known and popular ones. If you wish to learn more about how to make money with coins, please follow the link.
The most effective and profitable way. To “mine”, special mining farms are created, where calculations take place to obtain crypto. That is, the client works with transactions and generates new blocks to organize their blockchain.
Mining is monetary. For example, the most famous cryptocurrencies, Ethereum and Bitcoin, showed more than $2.5 billion in revenue combined in 2022. If you’re a newbie, it’s not easy to get into mining, it’s technically expensive. That’s why you can join with other miners to create your pool and earn your own income. This could be Slush Pool, Butfury, BTC.com, Binance Pool, Genesis Mining, and ViaBTC.
With Valve, you can earn by playing quizzes and filling in captchas and questionnaires. This method is called a crypto tap. This earnings without effort, but also not so fast — you will see tangible numbers in six months to a year.
Service works with the following cryptocurrencies: Bitcoinker, FreeBitcoin, FaucetCrypto, SatoshiQuizz, and Lucky Block. You will need a wallet to make money on the crane, there are cranes in Bitcoin, Cardano, and Ethereum.
This is where billions of dollars hang out. You can make good money through crypto projects. In 2022 alone, crypto games are valued at $90 billion, in a few years the value will triple, judging by the trend. Axie Infinity, for example, has already made more than $4 billion. If you are interested in the topic, check out Town Stars, Ember Sword, Age of Rust, Undead, the Sandbox, and Gods Unchained. Here you can buy land, market it, and buy tokens. All are organized in NFT markets — Magic Eden, Nifty Gateway, OpenSea, and LooksRare.
HODL means to hold, not sell. This is the essence of the method. An investor buys crypto and waits for the price to go up. This earning is for those who can forecast, and analyze the situation, and for those who simply have good intuition. In the beginning, there is no sense to buy expensive ones, it is better to buy low-value altcoins and sell them successfully.
5. Day trading
It is easy to draw an analogy with trading — in this case, buying and selling assets is done on the same day. Analysis, knowledge, and intuition are the main tools of trading, cryptocurrency is no exception.
6. Affiliate programs
Passive money lovers participate in affiliate programs. A percentage is paid for each participant brought into the program, the mechanics are very simple. The question is, how to find the very participant? Forums, websites, and social media are here for you.
This is a non-interchangeable token, unique. A very popular platform, modern artists have already taken a fancy to it and make deals at a high price. A beginner needs to first decide on a market to buy NFT, upload the item, transform it into NFT, determine the currency, and wait for the customer.
8. Cloud mining
We’ve already talked about the technical cost of mining, so the option of renting equipment can’t help but be interesting. In cloud mining, you get your commission from the transaction.
In the continuation of earning cryptocurrency, let’s talk about the best, according to the 2022 ranking. Traditionally, the most popular money-making coins are Bitcoin (BTC) and Ethereum (ETH). At the same time, Ethereum is considered to be the most promising currency according to the 2023 forecast. Perhaps, the fact that ETH has been ahead of Bitcoin lately played a role. And BTC still requires strong technical equipment.
You can also pay attention to Binance Coin (BNB), it is a stable option for deposits. Cardano Coin (ADA) is not a big network, but it is considered to be a fast-profit crypto. Polygon (MATIC) is an Ethereum token, to scale it up.
Dogecoin has also shown chic growth in the last 2 years, it was even invested in by Elon Musk. But despite powerful infusions of money, the coin has lost a lot, that’s why it is not particularly recommended to work.
Tips for Investors
Transactions in the world of cryptocurrencies are very gambling, so you can be ready for any result. The basic rule of investing works here — do not give your last savings in crypto, do without loans and debts. To start and learn how to make money with coins, always look at how many years the service has been running, what were the last few years, how fast the transaction goes, how safe the investment is, and what other tools the exchange has.