Invest
Buy undervalued crypto and hold until the price goes up. You could also invest in a crypto index fund or a basket of cryptocurrencies and hold until the price increases. Remember, the intent of this method is not to get rich quickly.
Trade
a. Day Trade. Day trade by buying and selling cryptocurrency multiple times a day. You will need to understand technical analysis well, and you should be prepared for hard days.
b. Swing Trade. Buy cryptocurrency and hold for a few days or weeks. Sell when you are happy with the increased value. This strategy requires decent timing and the ability to make trades fairly quickly once the time is optimal.
Stake
Staking requires you to hold crypto in a wallet or exchange. The crypto is usually required to be held for a specific period of time in order to earn rewards. Staking is a very popular and easy way to earn money.
Mine
Mining is the process of using computers to solve complex mathematical problems in order to generate new blocks on the blockchain. This is how new coins are generated. Mining can be done with a computer or with specialized mining rigs.
Yield Farm
Yield farming requires you to hold coins in a pool with other users for a specific period of time to earn rewards. The pooled funds can be used for cryptocurrency lending, generating interest in return.
Loan
Lend crypto in exchanges such as Celcius and AAVE. This is a good way to earn interest on your coins while you aren’t using them.
Play
Play-to-Earn games. Some games allow you to earn crypto while playing them. Games like Axie Infinity let you earn crypto while playing and competing against other players.
Create
Create in-game items that can be sold for crypto. You can create things like weapons and armor that gamers can buy and sell for a profit.
ICO Offerings
Investing in Initial Coin Offerings (ICO) is a popular way to make money in cryptocurrency. ICOs allow you to earn a lot of money with a small investment. ICOs usually give bonus coins or tokens for investing. For example, you might get 1,000 tokens for investing $100, while someone investing $10,000 after the ICO offering would get 10,000 tokens. ICOs are very high risk.
Click here to learn about 7 benefits of investing in cryptocurrency.
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