Top 5 Proven Methods How to Make Money with Cryptocurrency in 2022?

in #bitcointrading2 years ago

There are many ways to make money from the cryptocurrency markets. Not only does this include buying and HODLing digital currencies in the conventional sense – but also via staking, interest accounts, airdrops, play-to-earn games, and more.

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In this beginner’s guide, we discuss how to make money with cryptocurrency in 2022 across 10 proven methods.
10 Ways to Make Money With Cryptocurrency

If you’re wondering how to make money from cryptocurrency right now – these are some methods:

Investing in Promising New Coins Early – Overall Best Way to Make Money With Cryptocurrency
Staking and Interest – Earn Passive Income on Idle Cryptocurrency Tokens
Day Trading – Make Money by Trading Cryptocurrency Pairs
HODLing – Invest in Cryptocurrency and HODL Long Term
Play-to-Earn Crypto Games – Earn Rewards for Playing Crypto Games
Crypto Yield Farming and Lending – Generate an Attractive APY on Your Cryptocurrencies
Faucets – Earn Free Cryptocurrency by Completing Simple Tasks
Airdrops – Cryptocurrency Tokens Deposited Into Your Wallet for Free
DAOs – Buy a Share in a Decentralized Autonomous Organization
Mining – Mine Cryptocurrency by Connecting Hardware to Your Desktop Device
  1. Investing in Promising New Coins Early – Overall Best Way to Make Money With Cryptocurrency

lucky block logoThe overall best way to make money with cryptocurrency is to invest in the best altcoins as early as possible. After all, had invested in Bitcoin when the digital currency was first launched in 2009, you would have paid a tiny fraction of one cent. Similarly, Ethereum was trading at just $0.75 per token when its token was released in 2015.

Both of the aforementioned projects are now worth thousands of dollars and have subsequently generated significant returns. A more recent example is Lucky Block – which is building a decentralized app that will facilitate global lottery games via immutable smart contracts. When this promising cryptocurrency initiated its presale in January 2022 – BLOCK was priced at just $0.00015. It also offers one of the best crypto giveaways in 2022.

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Since then, CoinMarketCap notes that Lucky Block has breached a price of $0.009. This represents gains in the thousands of percent in just a couple of months of trading. With that said, Lucky Block is still a super-young cryptocurrency project, and thus – you can invest in this project early. This will give you the best chance possible of investing at a favorable price.

  1. Staking and Interest – Earn Passive Income on Idle Cryptocurrency Tokens

There are two notable concepts in the cryptocurrency markets that enable you to earn passive income on idle digital tokens that you own. The first is crypto staking, which involves locking your tokens away for a certain amount of time to help validate transactions on proof-of-stake blockchain networks.

Examples of leading staking networks include Cardano, Tron, and very soon – Ethereum. Crucially, you will receive a rate of interest for as long as your tokens are locked away. With that said, if you engage in staking on the eToro platform – you won’t be required to meet a minimum lock-up period. Instead, you can withdraw your tokens at any given time.

The second concept to consider when learning how to make money with cryptocurrency in a passive manner is through an interesting account. In its most basic form, crypto interest accounts operate in a similar nature to a traditional bank. This is because by depositing your cryptocurrency tokens, you will be paid a rate of interest.

  1. Day Trading – Make Money by Trading Cryptocurrency Pairs

One of the most lucrative ways to make money with cryptocurrency is to actively engage in day trading. However – there is a slight catch – you will need to at least have a basic understanding of how to analyze prices to determine whether the token in question is likely to rise or fall in value. If you can do this, you can make money trading crypto throughout the day.

The overarching concept with crypto day trading is that you will look to take advantage of short-term volatility. Furthermore, seasoned traders in this market will rarely – if ever, hold onto a position for more than a day. And as such, the objective is to open multiple positions throughout the day making smaller, but frequent profits.

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To day trade digital currencies, you need to find a regulated crypto exchange that meets two core criteria – low fees and support for plenty of markets. Regarding the former, if you are day trading crypto with an exchange that charges high fees, you will struggle to make the process worthwhile. After all, your profitable trades will get eaten away by commissions.

For instance, Coinbase charges 1.49% per slide – which means that this fee needs to be covered before you can close the trade at a profit. eToro, on the other hand, is much more competitive. Furthermore, eToro gives you access to dozens of leading digital currencies, so you will never be short of a day trading opportunity.

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  1. HODLing – Invest in Cryptocurrency and HODL Long Term

This method from our list of how to make money with cryptocurrency is arguably the best option for beginners. This is because HODLing – which is a play on the term ‘Hold’, simply refers to the process of buying a cryptocurrency and holding onto your tokens in the long run. This is no different from buying stocks and keeping the shares for several years.

And in doing so, you don’t need to worry about short-term price fluctuations – especially when investing in solid and established cryptocurrencies like Bitcoin and Ethereum. For example, in May 2021, Ethereum was priced at $4,300 per token. Just one month later, the price of Ethereum had dropped to lows of $2,100.

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Had you panicked and sold your ETH tokens, you would have made a loss of approximately 50%. However, had you engaged in HODLing – by November of the same year, Ethereum was trading at nearly $4,900 per token. This is just one example of many. The key point here is that the most effective way to invest in cryptocurrency is via a long-term strategy.

Once again, in order to HODL your investments in the best way possible, you need to find a suitable exchange. eToro also fits the bill here, as you can invest in 60 leading cryptocurrencies for just $10 at industry-leading fees. Moreover, this exchange is approved by relevant licensing bodies in the US, and thus – you will be able to HODL long-term safely and securely.

  1. Play-to-Earn Crypto Games – Earn Rewards for Playing Crypto Games

When thinking about how to make money on cryptocurrency, you might be surprised to learn that this can be done by playing games. Make no mistake about it – the play-to-earn crypto game marketplace is now worth billions of dollars. There are many variations and types of titles in this space, albeit, perhaps one of the best crypto games to consider playing is Decentraland.

Put simply, Decentraland offers a metaverse that enables players from all over the world to create a virtual avatar, chat with other people, and most pertinently – buy plots of land. Once you have purchased a plot of land and built your own real estate project, this is then represented in the form of a unique NFT.

Secret strategy to earn 1k daily with crypto: https://bit.ly/3Hm0wCZ

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