How to start earning on cryptocurrency?

Cryptocurrency plays an important role in the world of finance. Business projects, startups, logistics companies and investors have long linked their activities with cryptocurrencies. But, not only large companies have the opportunity to sell, buy and invest in electronic money, now cryptocurrency has become available to ordinary users.

Despite the fact that cryptocurrency has not yet been legalized in many countries, many people have long begun to be actively interested in this new type of money and look for all sorts of ways to make money on it. Today we will tell you whether it is possible to make money on cryptocurrency and how exactly to do it.

How to earn cryptocurrency?

Let's start with how to earn cryptocurrency in general? To date, the main assistant to the user, when earning cryptocurrency, are faucet sites. These are sites that make it possible to earn different cryptocoins when performing various tasks, for example: pay for clicks, comments, subscription, registration, voting, feedback, passing the game and much more. You will not immediately receive large sums, but you already have a good start.

How to start earning on cryptocurrency?

If you already have a couple of crypto coins in your arsenal, then you can start looking for ways to increase your capital. In order to start your journey with cryptocurrencies, you will have to study the digital asset market in detail in order to feel confident among professionals.  You will have to follow the volatility of rates for a certain period of time in order to understand which coin you will choose for further work, regardless of the type of activity, be it mining, exchange trading, ICO, staking, freelance exchange or cashback from your purchases in bitcoins. Next, you must decide in which wallet you will store your coins and, of course, choose the appropriate way to earn money for yourself.

The most popular ways to make money on cryptocurrency:

1. Mining.

Mining is a fairly common way of extracting coins. The essence of mining is for the user to mine coins using pools or cloud storage.

Pools. In order to mine crypto coins, you need powerful computer equipment with a large memory capacity. If you have a good computer, then you can join an already prepared pool and start working in a team. In such pools, there are strict rules that cannot be violated. All the work of the pool is controlled by the administrator. The only disadvantage of this method is that you will have to share the profit with all team members.

Cloud mining. Over the past couple of years, cloud mining has been no less interesting way to earn money than pools. It differs from pools in that here you do not have to spend money on expensive equipment and depend on other users. The service you have chosen, which provides cloud storage, is securely protected and located in centralized data centers. You determine a fixed amount with the management, pay for the storage and can start working on your own without worrying about additional expenses. The management takes care of the breakdown of equipment or other unpleasant nuances.

2. Staking and how is it different from mining?

Staking is one of the ways of passive income, on the basis of which people store their coins, using a PoS (Proof of Stake) server. Thanks to this server, profit is provided on the blockchain. The possibilities of working with such an algorithm allow you to use the following crypto-currencies: Tezos, Tron, EOS, Cosmos, Cardano, UMI, Polkadot, Binance Coin and others. In this regard, we hope for further expansion — altcoins from Ethereum.

Simply put, you can make money on staking due to the fact that you will store your coins in a cryptocurrency wallet and receive a reward for this.

3. Exchange trading or how to make money on bitcoins?

Bitcoin has been the most popular cryptocurrency since its release. All people are interested in how you can earn money on bitcoin? Not a little-known way of earning is trading valuable assets on exchanges. Here you need start-up capital in order to profitably buy or sell your coins.

Which trader role to choose?

• Day traders (make transactions within one day, have a small capital);
• Scalpers (carry out a large number of transactions within a few minutes);
• Short-term traders (offer deals to quickly close all positions before the liquidity period);
• Medium-term (carry out a couple of transactions in one year);
• Long-term traders, they are also investors (open positions of their assets can be held for several years until the investor chooses the most suitable trend for their sale).

 Analyze the market from all angles and do not miss the moments of bearish and bullish trends for the most profitable sale or purchase of your bitcoins.

How to make money on ICO?

In order to start making money on the ICO project, you need to pay attention to some aspects:

1. First, create a work email. During the initial placement of coins and throughout your activities on the project, many letters will come from time to time, which are very important. 
2. Registering on Telegram is very useful, provided you subscribe to financial channels with up-to-date news, life hacks and tips from more experienced users.
3. Social media accounts have a positive effect on your reputation before the Initial Coin Offering. It is important that the pages are not fake, active and older than one month.
4. Create a separate Ethereum wallet as it is the most commonly used on this platform.
5. Initial Coin Offering often run bounty campaigns. To keep up to date with new products and all the most profitable promotions, register in BitcoinTalk, that's where they publish everything you need.

In order to start trading on the ICO, decide on its type:

• Active trading (implies the daily purchase and sale of cryptocurrency);
• Passive trading (freezing your assets for a period of two months to avoid risks).

To start the investor's journey, invest your assets in projects, this will be considered passive trading. But, in order to reduce the risks, we recommend that you study in detail the prospects of the project you have chosen, so as not to miscalculate and not remain in the red.

As you may have noticed, earning on cryptocurrencies is an exciting process. Each of the above methods has its positive aspects. It's up to you to decide which method to choose, the main thing to remember is that risk is an integral part of working with cryptocurrencies, but once you take a risk, you can significantly increase your amount and hit the jackpot. May luck accompany you when working with cryptocurrencies!