By Peter Jack on The Capital
The first quarter of 2020 has brought good news for Cryptocurrency enthusiasts from across the world. The world witnessed some landmark judgments related to Cryptosphere such as:
- India lifts the ban on Cryptocurrency by RBI
- South Korean National Assembly passed legislation to legalize Crypto trading & investment
- France’s Tribunal de Commerce de Nanterre Court determined Bitcoin as at par with fiat currency
The global economy in recent months has suffered an unimaginable blow due to COVID-19. And yet, there was an increment in searches on Google and Baidu for Bitcoin and Cryptocurrencies.
The crypto market has shown unprecedented resilience during this epidemic. This proven quality of Bitcoin and Cryptos has resulted in a high interest in Crypto Market for Trading & Investment in 2020.
We bring you top ways to Earn Money from Cryptocurrency this year.
The early adopters of Bitcoin earned more than 300% return on their investment and became Billionaires by Buying & HODLing Bitcoin. HODL refers to Hodling Bitcoin or other cryptocurrencies for a longer period to earn profits.
Whether you are investing in Stocks or Cryptocurrency, this time tested strategy to invest in a fundamentally sound project and stay patient through all ups & downs is always your best bet.
In case of digital assets and cryptos, research and invest in fundamentally viable coins and hold them until they grow and reach a fair price.
Some Cryptos to Buy & HODL:
Return: Medium to High
In the stock market, you earn dividends when you invest and hold shares in some company over a period of time. Similarly, there are some cryptos in the market that pay you a cut in the profits for holding onto their coins for them.
As compared to your banks who pay you 3–5% as interest per year, you can earn anywhere between 5 to 10% per QUARTER by investing and holding some cryptos for a predetermined period of time.
You can earn a handsome passive income with some of the following coins:
Read: How to invest in Bitcoin or Cryptocurrency
Staking combines the first two methods of earning money from cryptocurrency. Here, you can hold Bitcoin (BTC) or any crypto, hold it to earn dividends, AND sell it at a profit later. The Proof of Stake (PoS) or Staking is a great strategy to invest and earn from cryptocurrency.
Staking is basically holding the coins in a live wallet to earn new coins for securing the blockchain network. You have to buy and store the cryptocurrency in a particular wallet which is used to validate transactions and add new blocks to the Blockchain.
Some cryptos to consider for staking are:
Airdrop refers to the distribution of free crypto coins. Yes, FREE! It may seem untrue but there is a business sense to distribution of free coins. Mostly, free coins are given to users or clients that hold a certain amount of a certain coin.
For Example, if you hold 0.75 BTC to 1 BTC you are eligible for $5 worth of Feelium Coin (FCC).
However, some companies or businesses or exchanges may airdrop coins for social sharing, taking polls or surveys, etc. You should be aware of false airdrop news and to verify, do visit a coin’s or exchange’s website for confirmed news.
Return: Low to Medium
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Buy Low and Sell High. The formula for earning money from Cryptocurrency through Day Trading is fairly simple. But the difficulty of this task is a more than Staking or Hodling for profits. If you understand the technical charts of trading, this is a good method to earn income from cryptocurrencies.
Due to the volatile nature of the Cryptocurrency, the market can fluctuate anywhere between 0 to 25% in a day. It requires a high time commitment on your part as you need to monitor the price through the day and cash out when you think the price is at a high.
Some exchanges that offer Day Trading option are:
Masternodes- The first thing that comes to mind is a big complicated computer system from a sci-fi movie. And yes, masternode does refer to a computer system that keeps the entire copy of Blockchain and updates it in Real-time just like a Bitcoin full node.
Masternode owners can earn some great passive income from running a cryptocurrency full node. Cryptocurrency networks pay generously to masternode operators for keeping the Blockchain up and running. You can earn anywhere between 1,000 to 25,000 coins depending on the masternode.
For running a masternode, you need to have some technical know-how to set up a server.
Some coins that have masternode functionality are:
If you have some extra time on your hands and want to earn some extra income, Microtasks can be a great source to get some money from cryptocurrency. Some platforms or websites allow users to complete small tasks for them like downloading apps, completing a survey, entering a poll, watching videos online, etc. in exchange for crypto coins.
This is one of the methods that require little time on your part to earn cryptocurrencies. When you perform the specified tasks, you are paid in cryptocurrencies like BTC worth $0.90 for a 10-minute survey.
Some websites or platforms to perform microtasks and earn cryptocurrency are:
Just like Microtasks, there are some employers that are happy to pay you in cryptocurrency for services rendered. If you a writer, developer, tester, or a designer, you can work online for cryptocurrency or crypto-related platforms to get paid in digital coins.
Some coins to consider working for:
Some platforms or websites to work for to earn crypto coins are:
If you have a blog, website, or online business, Affiliate marketing can be a good way to earn some income from cryptosphere. Affiliate Marketing is when a visitor on your online website clicks on a link or advertisement for another company and purchases one of their products.
When you advertise a product or service, you get a commission of their profit. Some companies, crypto exchanges, or businesses that accept cryptos can pay you in Cryptocurrency for affiliate marketing their products or services. There are also referral rewards offered by some websites & platforms online.
Some websites for starting your Crypto Affiliate Marketing are:
Return: Medium to High (depends on traffic)
Some other methods to earn money in Cryptocurrency are:
- Crypto Faucets
- Blogging on Crypto Websites
- Cryptocurrency Arbitrage
- Accepting Payment in Cryptocurrency
Cryptocurrency Market has some high potential options to earn money by trading and investing in crypto coins. If you are planning on investing your money in digital currencies, this is the best time to start and expand your financial portfolio. Unlike Stock Market that is tumbling down, Cryptocurrency has started the climb back up. Now is a great opportunity to buy and hold some cryptocurrencies to earn higher returns over a period of time.
If you are new to the digital assets world, we suggest choosing some low-risk methods to earn Bitcoin or other Altcoins.
Stay tuned for more interesting Tips, Tricks & Blogs to earn Cryptocurrency!