There are several ways to increase your income using bitcoin or other digital assets. This requires investing money, trading, mining and so on. Let’s talk about these options in more detail.
Bitcoin continues to grow and will soon peak, as well as the value of altcoins increases. It’s a good time to remind you of the most popular ways to invest and earn income from cryptocurrency.
What is trading? The term is nothing more than short-term speculation or making trades. In order to do this, it is best to use exchanges where you can buy or sell cryptocurrency. You don’t have to open a real account right away, but start with a practice account, because this kind of currency is extremely volatile. This will help you see how calm you are and how able you are to make a decision.
There is a way of making money. It implies a way of trading using special programs. As the exchange rate fluctuates a lot, bots are becoming popular. Both beginners and professionals use them all the time. There are 3 main categories of software for working with electronic currency:
If you are a beginner, this will not work for you.
A referral program is a collaboration between a client and an exchange, in which he gets paid for bringing new users.
Here are some cryptocurrency exchanges, which have permanent referrals:
Commissions depend on how many newbies you bring in.
Investing is an alternative to trading – in other words, it is the execution of transactions over a long period of time. It is best suited for beginners who are not familiar with technical analysis and trading or other skills.
Stablebcoin is an asset-backed cryptocurrency used on cryptocurrency exchanges as a more convenient trading pair and adaptation tool.
There is also such a type as shoot-ups. They are used on trading floors when the value of a particular currency goes down sharply or goes up by a few percent and just as sharply recovers. If you want to catch a shootout, buy a stable coin, then place an order to buy the crypto paired with it at a better rate.
Mining is another kind of earning, the most popular. It is available for large organisations that have all the necessary equipment and access to inexpensive rental space. We advise newcomers not to get involved in this type of earning, go for altcoin buying.
Stacking is an alternative to mining. It consists of mining crypto, but without farms. The Proof-of-Stake coins remain in the wallet until it is launched, generating some income.
In addition to stacking and the previously discussed types of earnings there are:
Please note, if you are not confident in your own abilities, study the specialized literature and start trading with a practice account. Good luck.