Profit from Cryptocurrency Without Buying Bitcoin

How to Profit from Cryptocurrency Without Buying Bitcoin

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Everyone getting into the field of cryptocurrency is there to make money. However, not all may have a happy ending. Some people have simply resigned along the way or fall into a trap given the number of crypto scams.

Honestly, there are only few ways of making legitimate money using cryptocurrencies other than trading them. But here are a few ways how you can money with cryptocurrency nowadays.

Buy cryptocurrencies and HODL

Okay, so technically, you are buying Bitcoin or other forms of cryptocurrencies. But you just buy them until you see the value of these coins rise, and then you sell them at a profit.

This is, arguably, the most frequent method of earning money from these cryptocurrencies. Buy coins when they are cheap and wait until the value of these coins rise. Then you offload them.

This investing method means you should be able to identify which assets are stable and which ones are volatile that can rise in value rapidly, leading to regular profits.

High-value assets such as Bitcoin have been regarded as coins with regular price fluctuations. They can thus be considered safe investments. However, you can also look at any virtual asset that you feel, based on your knowledge of the market and comprehensive research, is going to rise in value.

That is why you need to study each asset or cryptocurrency you would invest in before you buy and HODL it.

In addition, you should not be compelled to buy the most expensive assets out there for you to reap profits. There is a wide array of small altcoins offering decent price shifts. You should consider having a mix of all these coins that offer promising values in the future and not just those which are popular in the online exchanges.

Consider running cryptocurrency master nodes

First, you might ask what a crypto master node is. The real answer is a bit technical, but a more simplified explanation is that it is like a computer wallet that maintains and monitors the activities of a blockchain, real-time. In fact, running crypto master nodes is considered one of the best ways of earning passive income in cryptocurrency industry.

How do you make money out of it? Well, a lot of cryptocurrencies pay node operators who can maintain real-time records of their regular activities using their native blockchains. Because the process can be quite complex and needs somebody to oversee a certain number of coins, crypto platforms usually prefer outsourcing the task to master node operators and pay them.

Stake cryptos

Another way of getting money from cryptocurrencies is through stake cryptos. This gives you a double earning potential, as you can earn via price appreciation as well as dividend payout from various coins for staking their digital assets.

Staking essentially means holding coins or cryptocurrencies in a live wallet, thus enabling you to earn extra coins for essentially securing a particular crypto network.

Day trading

For every 10 cryptocurrency investors, more than eight believe that the only way – or if not the most effective method – of earning money in this industry is through day trading.

However, many of them do not know is that this method is basically holding onto an asset until the price value raises. One can easily be a day trader, but what is more important is having the right analytical and technical skills.

You need to have the capacity to analyze market charts and look at the performance or price value of the listed assets. This can be one of the most difficult tasks as a day trade but can be one of the most rewarding sources of revenues.

You can immediately become a day trader on any online exchange today. You just need to do as a trader newbie is sign up, buy a number of virtual assets, analyze their performances, and you are all basically set.

Try doing some cryptocurrency microtasks

If you have some free time, you might want to do some miniature tasks for individuals or platforms so you can get paid for them. These tasks can vary, from apps testing, taking surveys, to watching videos.

Working for job at the cryptocurrency companies

This is probably the most common way of earning money from the sector. You can join a cryptocurrency company if you can match the skills they need; you can be a content creator, web designer, digital marketer, among other tasks.

You just need to look at the current needs of a certain cryptocurrency company and how your skills can be a good fit to them.

One of the best things about joining crypto platforms is that, in most cases, you are going to work remotely, giving you the flexibility to working from your own residence or office.

Many crypto firms also offer competitive packages. These firms offer compensation in the form of cryptos. So that means your earnings can double in value, if not more, within days or even hours.

Crypto arbitrage

You can also make a killing from buying cheap cryptocurrencies from various exchanges and selling them on overpriced ones.

If you master this skill, you can find price variations between five and 30 percent across various exchanges. Consider checking various exchanges and compare asset prices so you can find variations you can capitalize on.

Cryptocurrency faucets

Crypto faucets are still not popular in the industry, but they can be good sources of generating revenues. These are basically reward systems to qualified users. They can be in the form of activities such as watching videos, looking at certain ads, or playing games. Once the task gets completed, you would earn a small portion of the cryptocurrency.

Consider creating cryptocurrency content

Over the past ten years, content has actually become among of the most effective methods of communicating and disseminating any message to your clients, whether existing or potential.

If you are launching a new product or service, then content is the ideal way to actually do that.

The cryptocurrency industry, especially, harnesses the power of content marketing because of the fact that many of its projects are virtual or online.

Thus, cryptocurrency firms are open to use non-conventional marketing methods to reach their target audiences. This is where you could come in; the opportunity to work for them and create video content, produce infographics, or make written content about cryptocurrency brands for their present clients as well as prospects.

Incorporate cryptocurrency as among your payment methods

If you are an online seller or merchant, you may have a chance of earning more from accepting crypto payments.

Statistics indicate that some virtual coins have risen in market value rapidly.

As a business, what you just need to do is to select the best channel or platform for accepting crypto payments.

Conclusion

So, can you actually make money with the cryptocurrency industry without having to buy Bitcoins and keep them? Well, at least now you now, there are at least 10 reasons that prove you can actually earn from the sector.