How to Make Money with Cryptocurrency Besides Mining
Crypto, or cryptocurrency, is undoubtedly a common term. You link it with other terms such like Bitcoin, digital currency, and the like, and it can be a rather intriguing topic. What you might truly be curious about is, how do you earn bucks through cryptocurrency in 2019?
One thing’s for certain- there are lots of ways on top of mining, which is clearly the most usual. Below are some you can explore:
Buy and Hold
One of your most evident options is probably buying cryptocurrency coins in the manner that you would purchase individual stocks in a company. You pay for the digital currency of your choice, wait for it to increase in value, sell your coins and keep the difference as your profit.
Buy and Hold for Dividends
You can buy and hold dividend-paying crpytocurrency too, and that’s only for holding coin. But do take note though that coins that do this as of now are not worth a lot, and so there are no massive payoffs to look forward to. In such a scenario, you don’t really “own” the coins; instead, you just hold them so they stay in circulation.
Staking cryptocurrencies means combining the two methods mentioned earlier. You are the owner of cryptocurrency and you sell it to gain profit, along with dividends as you wait. Again, these coins don’t amount to much, so the dividends will likely be limited, and you’re probably not going to earn much from the coins themselves either. In addition, these coins will not be available on key exchanges (just like the dividend-earning coins), so you’ll need to look somewhere else for them.
Earn Cryptocurrency for Work
Another option is to actually work in exchange for cryptocurrency. Nearly every online service can be paid with cryptocurrency, which can give you massive returns. Say, for advertising, you can still collect your usual charges, but the advertiser will forward payment to your crypto wallet or address instead of paying you in cash. In short, you will be paid such amount in your desired digital currency. This can work to your advantage, depending on which side the currency’s value shifts.
Lastly, if you enjoy all things finance, you might want to try day trading with cryptocurrency. Certainly, this demands considerable time and effort, what with all the financial charts and reports that you have to monitor on a daily basis, but the dough will be thick for sure. This option is hardly for newbies, and definitely not for those who can’t stand numbers. But if you’re on that other side of the fence, this can give you some of the biggest – if not the biggest – earnings in the world of cryptofinance.