Since Satoshi Nakamoto introduced the original whitepaper of Bitcoin back in 2008, the entire cryptocurrency industry has substantially grown. After a decade, more and more people become more aware of cryptocurrency and Bitcoin.
2017 was the year when cryptocurrencies become the peak of interest. In the “how-to” Google search, the “how to buy BT” became the third one. Although the crypto asset’s market cap end up fluctuating with price swings, it increased from $10bn in 2013 to $23bn in 2019. The growth in Bitcoin transactions and accounts reached about 60% per year over the past five years.
These days, it’s not surprising to hear news about Bitcoin and other cryptocurrencies. So, it’s not also surprising if you want to know how you are going to make money with cryptos. Good news, there are different ways of how you can do it, including:
Buying or Trading
In order to make money with cryptocurrencies, buying coins be your first option. You can find a lot of exchanges or platforms like Bitcoin-Evolutionthat will let you trade or buy coins that can be kept on your wallet. Click here to visit the Bitcoin Evolution App site.
Make sure to choose a reliable exchange when you want to start trading cryptos. The interface should be user-friendly. That way, you can start trading despite having no experience in the crypto trading industry. In fact, some exchanges offer free credits once you sign up.
After creating an account, you need to pay the market rate. Next is to hold onto it until you are fully ready to sell. Make sure to be careful since there are instances that crypto prices fluctuate. You also need to ensure that the exchange you choose is reputable, and do not forget to back up your wallet. Once you feel that you already reached profit, then it’s time to sell your coins.
Ever heard about crypto mining? Little did you know that you can mine your own crypto coins?
In order for you to make money with cryptos through mining, you will need graphic cards. Then, you need to set up your computer correctly. Be aware that this requires more electricity.
You may quickly mine some coins, but others may not be. For instance, you may be lucky, Bitcoin, and Ethereum Classic. But, Ethereum Classic failed to sell for as much. Then, the best thing you can do is to mine something like Bitcoin Satoshi Vision instead.
Keep in mind that you may get a lot of coins faster, but it does not necessarily mean that you can sell them on the exchange. If you will mine coins that are less popular, expect that the demand is not enough for you to sell them.
Accepting cryptocurrencies for payment is another way of making money with them. For example, you have a small business that lets you sell products. Then you can accept payment in the form of crypto of your choice. Just make sure that you have a digital wallet and look for customers who have a willingness to pay in cryptos.
Your customers will pay you cryptocurrency by transferring it through a blockchain. You need to calculate a rough estimate of what your products cost according to the value of the coin.
For instance, if you will accept Bitcoin to pay for your products, you can ask for one-third or one-fourth of a Bitcoin. But this will depend on the project. Once you received the payment, you can hold onto it until the value increases or use it to pay others for something.
Which one want do you prefer to make money with cryptocurrencies? Regardless of your choice, make sure that you are always aware of the market conditions.