Surely you have seen, heard, or read about millionaires who have become rich earning and selling cryptocurrencies. For the most part, these individuals are the ones who made the breakthrough with Bitcoin in the early stages.
You may be wondering, ‘is it still possible to make money with cryptocurrencies?’ The answer is yes, and here are five ways to make money with cryptocurrency in 2021.
But watch out! Trading and investing in crypto, just like trading and investing in stocks, remains very risky! Many people have just heard about cryptocurrencies and don’t really know the dynamics of how everything works.
To have a crash course, and get the basic knowledge about cryptocurrencies and trading with them read our article “How Do You Trade With Cryptocurrency?”.
1.Mining Cryptocurrencies (Is it still the best way to make money with cryptocurrency?)
The primary means through which anyone can earn cryptocurrencies is through crypto mining. This option is a complex procedure where your computer solves complex mathematical calculations in an attempt to validate blocks.
If done correctly, the computer (or you as the owner) will receive a certain number of cryptocurrencies. The type of cryptocurrency given depends on the currency you were mining. So if you start mining Bitcoin, you will be paid Bitcoins as a ‘fee’.
However, mining cryptocurrencies requires very powerful computers and associated hardware. High-end computers require a small amount of time to perform the tasks that bring you cryptocurrency. And in the case of bitcoin, you have better chances of earning coins if you use a powerful machine.
Keep in mind that you will consume a lot of electricity, which means you can expect huge electrical power bills unless you go with method #5. But, we’ll talk about that later.
Just like trading currencies, stocks and commodities, you can do the same with cryptocurrencies.
Trading with cryptocurrencies requires that you have a solid knowledge of day trading. This means that this is not an amateur game to play. Chart reading, pattern discovery, market analysis, and trading psychology are all essential skills you must have if you want to make money through this method in 2021.
But how do you make money day trading?
You need to take advantage of price fluctuations and enter the market at the right price. Follow the trends and determine if they work in your favor.
The price of cryptocurrencies is very volatile and can react violently when news is coming. However, the volatility of the price of these digital currencies presents an opportunity for the knowledgeable trader, while at the same time presents a major challenge for novice traders.
3.Buying and Hodling Crypto (Holding for the Longer Term)
The golden rule of ‘buy when low, sell when high’ also applies to this type of online trading.
Here you have to speculate and determine valuable crypto that is currently undervalued and then buy it. After buying crypto, you can wait for the market factors to push the price up.
The reverse is of course also possible, it is just as if you would buy and hold shares of a company on the stock market.
Cryptocurrencies are launched in most cases below a dollar and depending on the developments, supply and demand, and the market segment, the coins will rise.
An example of this is Ethereum. When it launched, it was trading for about 30 cents. Today, this cryptocurrency is trading at $140 per coin.
You may be aware of dividends from stocks that people own in a company. You buy a share and after some time you receive payment, which is a reward for your willingness to hold the share of that particular company.
Something similar also exists for cryptocurrencies.
However, in this regard, if you pay for the cryptocurrency, it is not your property, as is the case with company shares.
For cryptocurrencies, your payment only guarantees you a portion of the dividend payout, but the crypto is still owned by the company that generated it.
The amount you pay for it helps to keep the coins in circulation. Like stocks, these coins will rise and fall in value over time, and therefore, depending on the company offering them, the dividend payout can vary.
An example of a dividend coin is NEXO.
NEXO is one of the crypto companies that pay dividends to investors.
5.IHub Hotspot – The absolute #1 among the best ways to make money with cryptocurrency in 2021
This method is, in my opinion, by far the best way to make money with cryptocurrency today.
There is no investment on your part, the cryptocurrency you earn is Helium (HNT), which is steadily growing in value. As I’m writing this article the current value of HNT is $22,64.
The way this works is that IHub offers you the chance to get a FREE mining device (hotspot) that you place somewhere in your home or office. The idea is that you are helping IHub spread the IoT (Internet of Things) network. In return for being part of their network, you are awarded by having your hotspot mining daily cryptocurrency.
And, it gets even better!
IHub encourages you (and gives you the necessary tools and training) to spread the network by promoting their offer – the free miner/hotspot to other people. That way you, as an affiliate, get to earn even more from the people you brought on to the program.
The earning potential is unlimited, and it’s on a monthly basis!
The hotspot in your home is mining crypto every day – the company gets the lion share – you get a percentage – you expand your own network and people make money – you get their percentage. It’s a win, win, win situation.
You can either exchange the HNT for cash or choose to hold on to the cryptocurrency.
If you’re interested in having a crypto mining hotspot for FREE in your home or office and getting a monthly payment for it, check out the details by clicking the link below.
So, we have reached the end of this article.
As we can see, making money with cryptocurrencies is a complicated affair, but far from an impossible task. What you need to do is arm yourself with knowledge, patience, and determination.
I hope you were able to learn something from it and that it will help you on your path to financial freedom. I hope that I was able, at least a little bit, to help you make your dream come true!
To your success!