Top 10 Ways to Earn Money From Cryptocurrencies

Most people are into cryptocurrencies because they want to make a quick buck out of it. Yes, just ask anyone who is into crypto, and they would most likely tell you that they are in it to make more money!

And there’s absolutely nothing wrong with that. Cryptocurrencies could be great investments if you know how to play your cards well (just watch out for scams). There are many ways to make money out of cryptocurrencies, below are just 10 of the best ways:

Buying & Holding

This is one of the most common ways to earn from cryptocurrencies. What you do here is buy good or potentially good cryptos, and hold them until they acquire a fair market share. Bitcoin and Ethereum are safe to buy and hold on a long-term basis because their value rises against fiat pairs (e.g. USD and EUR) from time to time.

Buying & Holding For Dividends

This is the same with Buying & HODLing but in this case, you get a fair dividend just by holding onto the cryptocurrency. This reward system is not available in all cryptos, only some cryptos such as KuCoin, COSS, and NEO distribute dividends to their holders.

Staking Cryptos

Staking is a combination of both buying and HODLing, and then getting dividends as a reward. You need to hold your cryptos in a live wallet where their value appreciates. This way, you earn additional coins just by holding or staking the crypto and securing their blockchain network. Coins such as Komodo, NAV Coin, and BirdgeCoin employs this method.

Masternodes

Running a masternode is basically just running a cryptocurrency node on your wallet. This means that you keep an entire copy of a blockchain in real-time. Each node performs tasks, and for running such tasks, crypto networks pay masternode owners. In fact, running masternodes is a great way to earn passive income!

However, you need a huge investment to set up and run masternodes. Most of the time, cryptos require a minimum number of coins before you can run masternodes. The value could range from 1,000 to 25,000 coins.

Microtasks for Cryptos

If you are up for light, freelance tasks, you can also do so in exchange for cryptos. Bituro, Bitcoin Rewards, and CoinBucks use this method. Tasks could vary, but they are usually composed of ad hoc tasks such as downloading apps, watching videos, and answering online surveys.

Day Trading

If you are familiar with traditional bank trading, then this method is basically the same. You have to buy the crypto at a low price and sell it later when the price rises higher. However, this method requires you to monitor charts on a daily basis, considering that cryptos are very volatile and can go down and up at around 20 to 50% of its value in just a short time.

Work for Cryptos

If you are skilled in the technicalities of blockchain and crypto, then you can actually work for one! Many cryptos, websites, and platforms need developers, testers, designers and writers (just like most digital businesses) to keep running on a day to day basis. You can exchange your skills and services and get paid in cryptos too!

Accepting Cryptos as Payment (For Merchants)

If you are a merchant, or if you are running a business online, you can start accepting cryptocurrencies as payment for your goods and services! To make this possible, you have to coordinate with Bitcoin payment processors and crypto processors to install a payment system that can accept and keep records of crypto payments.

Crypto Arbitrage

Crypto Arbitrage is similar to trading, only that you use different trading platforms to sell your cryptos at a higher rate. Yes, it is possible that a certain coin is valued higher in a certain trading platform compared to other exchange platforms. This is because cryptos are still not regulated, and are highly decentralized. So what you do here is buy crypto at a very low price in a certain exchange, and look for another platform where you can sell it at a higher rate.

Blogging About Cryptos

Many people are actually interested in cryptos but are not yet fully informed about it. Blogging about it can certainly help a lot of people. You can even offer your writing and blogging services in exchange for cryptos.

So there you have it. There are indeed many ways to earn from cryptocurrencies. However, you still have to watch out for scams and illegal MLMs that use certain cryptos to dupe interested investors.

These companies promise high returns from supposed crypto investments but are really just Ponzi schemes in disguise. So be aware and do your research first before deciding to buy or invest in any crypto platform and company that carries even legitimate coins such as Bitcoin and Ethereum.