Cryptocurrency is developing rapidly. As for 2022, there are over 18,000 coins and tokens. This growth is driven by people wanting to invest in digital assets. The reasons are different: faith in the future of blockchain technologies, the desire to make money, or both. However, not everyone succeeds. Many people either simply give up or lose money because they do not understand how to make money in this area.
The cryptocurrency industry is still in its early stages of development. As assets rise in value, more and more people come after the money. This opens up new earning opportunities. What are they? Let's analyze the main ones.
1. Investments in cryptocurrency
This option is for those who consider cryptocurrency as an additional income.
Crypto assets are generally well-suited to a buy and hold strategy. This means that we buy them when the price has fallen, and wait until it rises significantly. For this type of earnings, it is best to choose more stable assets with a high level of capitalization: Bitcoin or Ethereum. Despite the volatility of any cryptocurrency, these coins have performed well over the long term.
Let’s talk, for example, about the story of Peter Seddington from Atlanta. The 35-year-old entrepreneur first read about Bitcoin in 2011 and bought several coins for less than $3. Bitcoin is currently trading at around $20,000, so the profit from the early investment is approximately 688,000%. "I've never seen anything like it. The fact that the code is based on mathematics strengthened my belief that cryptocurrency is worth investing in. It really can't be turned off", - this is how the man explained why he decided to invest in BTC.
And so, thanks to knowledge and adventurism, Peter was able to get tens of thousands of dollars.
2. Cryptocurrency trading
This method is for those who are ready to spend time and effort and consider cryptocurrency as their main activity.
If investing in digital assets is a long game, then trading is mostly about short-term opportunities. The cryptocurrency market is volatile. This means that crypto prices can rise and fall dramatically in a short period of time. Such jumps make it possible to earn.
To become a successful trader, it is necessary to have the appropriate analytical and technical skills. For those who want to start their journey in trading, we advise you to first follow the influencers who specialize in this, for example, Peter Brandt. He is a trader with experience — he started working in this field back in the 70s. Of course, it wasn't digital assets then, but his experience helped him fly into the cryptosphere. Currently on Peter's Twitter page you can find analysis of BTC and other cryptocurrencies.
3. Cryptocurrency mining
This method is for those who are ready to engage in cryptocurrency as their main activity.
In simple words, mining is the production of digital assets using special calculations on special equipment.
In the language of blockchain engineers, mining is the connection of blocks in which information about transactions is stored. This is how they form a continuous and consistent chain - a blockchain. To add a block, it is necessary to solve a mathematical problem by deciphering the encryption algorithm. This is what miners do, or rather their special equipment. If the device finds the correct answer, its owner receives digital coins. Actually, this is the third main way of making money on crypto.
It all started with Bitcoin. In January 2009, Hal Finney received 10 bitcoins as a reward for mining of block-70. At the same time, for the first time, the name of Satoshi Nakamoto was mentioned as the probable creator of the Bitcoin network.
Where to start?
We have already repeated many times: to understand the world of cryptocurrencies, you need to spend a lot of time and effort. The best place to start is by buying digital assets. And then you have two questions: where to buy and where to store?
For the convenience of cryptoenthusiasts, we created Any.Cash — a multi-currency cryptowallet in Telegram. Without leaving your favorite messenger, you can:
1) Buy basic digital assets (BTC, ETH, USDT, TRX, LTC);
2) Exchange them for fiat (USD, EUR, UAH, KZT);
3) Withdraw funds to the card;
4) Exchange cryptocurrency for cash.
Any.Cash also promises secure storage of your funds using modern encryption methods. Click here to create a wallet and start earning your first crypto money.
