4 Ways to Gain Money with Cryptocurrency
- Aug 06, 2019
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Let's talk about the four most popular options:
1. Buy and sell cryptocurrencies
The first way to make money is through cryptomoeda trading. It would buy the amount of cryptomoeda in question (Bitcoin, Ethereum, Litecoin, etc ...) expect it to value and then sell it at a higher price. For example, the person who bought in mid-September, bitcoins / usd will have achieved a valuation of around 75%. You just need to create a virtual wallet through websites that offer them online.
2. Cryptocurrencies Mining
Mining consists of solving complex mathematical problems in exchange for a reward in kind, with the cryptomoeda in question. This option is a little more complicated, since it needs an equipment (CPU, graphics cards, specialized software, etc.) important in the solution of these problems, making combinations of numbers. Only the processor for mining can hover between 1500 and 3000 €, in addition to other expenses, such as the electricity bill, which is usually, in significant amount due to the need of the processor. For individuals, it is not as profitable, since the team must be the fastest to receive the reward. With increased competition, "mining pools" have been created in which the available material is put into the team and thus you receive your compensation for your "power" (material) offered.
3. Through trading
In this option, investment knowledge is required and we will use cryptomoeda like any other financial asset in the stock market. For this, we need to find an internet broker who offers CFD's on cryptocurrencies and create an account. The advantage of this way of operating in relation to the former is that it will be able to exploit any situation in the market, that is, to operate in a "short" way taking advantage of a moment of "low" of the asset.
For example, we can operate cryptocurrencies using CFDs through its platform, which avoids having to open a wallet account on other platforms to be able to operate with bitcoin and ether.
4. Gain Fractions of Cryptocurrencies
This last option we are going to talk about is to find web pages where they distribute fractions of cryptocurrencies in exchange for performing a specific action, such as displaying advertisements for a certain period of time. Here, income is very low, but you can try to increase it by inviting more people to do the same; it would still be a very unprofitable option.
As you can see, there are several options that allow you to make money with cryptocurrencies, but you have to be very careful with all of them, you never know what can happen. The profitability of each one will depend on the dedication and the knowledge that each one has on the subject. One of the preferred options is through brokers that have CFDs in cryptocurrencies since CFDs allow us to increase or reduce leverage, as well as allowing us to position (short) and benefit from cryptocurrencies falls.