In recent times, cryptocurrency has sparked wide interest as one of the fastest-growing assets. Those who are willing to earn money and get astounding returns now bank on cryptocurrency and the various ways they can leverage the value of these assets to make a good income online. To get started, you need to have an account with a cryptocurrency exchange that is reliable, secure, and fast, that is eBankX. If you are yet to complete the signup process, visit ebankx.io and get started. Experts agree that there are multiple ways to make money with cryptocurrencies.
Here’s a list of the best strategies to get started with earning through cryptocurrency
1. Trading
Crypto trading is one of the most popular ways to earn money with cryptocurrency. Like stock trading, you can buy and sell cryptocurrencies on exchanges on a daily basis, or investing over the long term. Note that, it is essential to research thoroughly before investing in any coin. You can hold these coins for a specific period through proper research before selling them.
2. Mining
Crypto mining is one of the earliest ways to earn money with cryptocurrency. It involves verifying transactions that secure the network for the Proof of Work (PoW) consensus mechanism. In addition, miners get rewarded with new crypto coins in block rewards for the mining activity. Bitcoin mining started on desktop computers in its earliest days, though now the scale of hardware needed for mining is high for an individual miner, and mining pools have emerged as a popular choice. The rewards are quite worthwhile, though, encouraging several new miners.
3. HODLing (Investing in the long-term)
This strategy is generally used by investors who buy cryptocurrencies like Bitcoin, Ethereum, and XRP and wait for their value to hit a target price level that they have in mind. Currently, most investors use this strategy by identifying stable, robust, and highly volatile assets that continue to gain value and market capitalization rapidly. Volatility in prices ensures regular profits for these investors. Ethereum, for instance, witnesses regular price fluctuations and has emerged as a HODLer’s favorite.
4. Staking
Staking is a popular way to earn money through cryptocurrencies with higher earning potential compared to other strategies. The Staking approach involves staking (or proof-of-stake) of digital assets that, in turn, deliver benefits arising from consistent price appreciation and regular dividend payouts. Users hold coins in a live wallet, allowing them to earn more coins for securing the network. In addition, coins like NAV Coin and Decred are used to staking, earning their investors a subsequent increase in assets and outstanding returns.
5. LendingÂ
One of the lesser-known ways to earn money with crypto is lending, wherein coin holders lend (loan) them to other investors and generate regular interest. Many platforms like eBankX now facilitate crypto lending, including digital exchanges and various Decentralised Finance (DeFi) applications.
6. Bonus RewardsÂ
People can participate and earn money through bonus offers associated with cryptocurrencies! Users have to join a bounty program related to a budding cryptocurrency and perform some tasks to earn free coins as part of the program. New cryptocurrency projects offer bonus tokens during their ICO launch or early phases to attract investors. One can hold on to these bonus tokens for some time before selling them off when their prices increase dramatically.
7. Referral rewards
Crypto referral programs often reward traders. At eBankX, traders earn $25 worth of EBX tokens per referral. There is no cap on referrals and rewards. The friend you refer needs to follow simple steps – Sign up, complete KYC, and buy $100 worth of EBX tokens.
These seven strategies are useful for traders and investors to earn money through cryptocurrencies consistently. If you plan to start trading or holding cryptocurrencies in the long term, register on eBankX today and buy EBX tokens for high long-term profitability.
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