Crypto To Cash: 6 Practical Ways to Make Money From Cryptocurrency
Almost everyone gets into cryptocurrency to make money. Many, however, lose significantly more than they gain because they do not fully understand the market and the huge potential that exists in the crypto industry. Some people even quit early because they cannot keep up with the amount of research and technical analysis required for trading.
Money grows on the tree of patience
While trading and investing are the most common ways to profit from cryptocurrency, there are various alternative ways to earn money from crypto. If you are struggling with making substantial income in crypto, we have good news for you.
With the following six (6) practical ways, you can start earning from cryptocurrency with little stress.
1. Buy and Hold If you believe in blockchain technology and the future growth of crypto projects, investing may be the way for you to make money from cryptocurrency without much effort. Don’t be in a haste. Investing is a long-term strategy that involves buying crypto assets at a certain price and selling them at a higher price, at a future date.
This strategy is also called HODLing (a misspelling of holding that has gained popularity in crypto circles). You may buy and keep watch on projects with potential. You must do your research and be assured of the potential of the crypto project. Many popular coins that have been tested to increase over time such as BTC and ETH, are a good place to start. A good strategy to increase your chances of making money by HODLing is to apply the Dollar-cost Averaging method while buying or selling.
Crypto platforms like VIBRA are a great place to buy and HODL crypto.
It is quite easy to get started, all you need is some funds, a secure wallet, and plenty of time:
Sign up on VIBRA and get an automatic multi-asset wallet to store cryptocurrency.
Buy USDT with the Instant Buy option or choose from the list of sellers on the P2P platform.
Trade USDT for Bitcoin or any other viable crypto asset.
Stay up to date with market changes and sell when there is a significant rise in value.
2. Active Trading Trading financial assets is a popular way of earning from cryptocurrencies. Trading is similar to investing in that it involves entering positions at a certain price and exiting at a higher price. However, trading is used to capitalise on short-term opportunities. Trading can be extremely profitable in crypto markets due to the high levels of volatility. This is why it requires a good trading strategy and considerable technical expertise to analyse and forecast market trends.
Whether the price of a particular asset is rising or falling, trading allows you to make money in either instance by taking long or short positions. It is important to note that trading is a high-risk endeavour and you should only enter a position after doing your research.
3. Earn High Interest from Yield Farming Yield farming involves earning rewards for staking or lending your cryptocurrency. Although this is similar to a fixed deposit in traditional finance, Yield farming provides better interest rates and more tenure flexibility.
🚀Crypto staking is the process of locking up crypto assets to support a project ecosystem thereby earning rewards. Cryptocurrency transactions are processed on decentralised platforms with no single middleman and thus no single point of failure. Crypto networks like Polygon and Cardano run on a proof-of-stake system. Staking utilises your cryptocurrency to validate transactions on your chosen network. When you stake, your funds are locked inside a wallet although you still maintain ownership of them. By staking, you are lending coins to the network and helping to improve its security, while also earning rewards.
🚀Lending cryptocurrency is becoming quite popular. You can choose to lend your coins to other crypto investors and earn interest on many decentralised platforms that offer such services.
4. Get Paid For In-demand Skills In-demand job roles in the crypto industry include content creators, programmers, digital marketers, UI/UX designers, media influencers, etc. Many people are unaware that cryptocurrency is one of the fastest-growing industries of the century and you may earn substantially without speculating on the market prices. As with any industry, the crypto ecosystem needs workers to build its underlying infrastructure. The crypto sphere has a particularly high demand for skilled labour besides financial analysts. By dedicating time to learning and networking, anyone can build the requisite industry skills that crypto companies need. To top it off, these companies often pay in crypto.
Kickstart your crypto upskilling journey with VIBRAin Academy.
5. Play to Earn Play-to-Earn games are one of the most recent advancements in blockchain technology. Game-fi, as it is sometimes referred to, has come a long way, and now gamers can convert in-game earnings to real-world monetary value. Play-to-earn games have grown in popularity to the point where they have begun to complement and even replace some people’s salaries.
Typical play-to-earn games may carry some risk, as they often demand a sizable upfront investment to purchase in-game characters and items. However, the good news is that most of these characters are NFTs that can be taken out of the game and exchanged for real money.
6. Affiliate Programs for Crypto Enthusiasts If you have any experience with social media marketing or have used a financial app, you probably know how affiliate programs work. Crypto companies also employ this technique. Usually, you get rewarded in bitcoin or other cryptocurrencies for referring people to use their platform. The more referrals you get, the more you earn.
Anybody can earn using referrals but people with large social media audiences usually see the most returns.
Join the VIBRA Affiliate Program today where you can earn from being a VIBRAin Class Tutor or a VB Star. VIBRA rewards you for every referral who signs up using your referral code, and there is no limit to the number of referrals you can make!
You can begin earning money with VIBRA immediately. Download from the app store and earn money by trading, investing, referring friends, or purchasing play-to-earn game tokens. Take Charge With VIBRA!