The area of cryptocurrency is perhaps, the most popular niche for investing these days. On the one hand, crypto really has the power to make you richer if you buy the right assets at the right time. On the other hand, do not perceive it as an automatic way to achieve wealth: for many investors, making good decisions means hard work in analyzing the market.
However, those who have been in this for years now know the proven ways to get your revenues quicker and actually make more money. Check them out.
Tried and True Strategies to Earn With Cryptocurrency: New and Traditional Ways
To invest wisely, you don’t necessarily need to invent your own methods or be an expert. There is much explored before you, such as ways to buy and keep coins and then convert them to fiat at some point, like converting BNB to Dollar at its high price.
Whereas we said that a certain amount of market research is required, you are not supposed to watch it day and night.
Here we collected some easy and proven ways to help you earn faster.
Tip 1. Buy and hold.
We start from the basics. Buying crypto through this scheme is for users who aren’t afraid of financial loss. This has another colloquial name: ‘buying the dip,’ meaning you will purchase coins when the prices fall.
Next, you can use tools to compare the current price to the one you bought it at to identify the right moment to sell. A broader look is also necessary here: you don’t just look at the day-to-day fluctuations but see a bigger picture. E.g., many coins such as Litecoin or Ether have been through extreme ups and downs, but generally, they maintained an upward movement over the years.
Tip 2. Indulge in crypto borrowing.
Crypto lending is a lazier way to earn extras. Still, it is not accepted on every platform. Lending means making an agreement that the borrower gives their crypto as collateral and pays interest to lenders, whereas lenders provide the chosen crypto.
Is it completely free from risks? Not really. However, it’s a no-brainer way to get extra cash. Just make sure you find a reliable platform. Today, reputable options include Oasis, BlockFi, etc.
Tip 3. Trade.
This idea is a long-term version of the ‘buy and hold’ method. It is focused on using the short-term benefits of the market. This is smart, especially considering that coins fall and prices rise every hour. Explore more on day trading, swing trading, etc., to choose the most suitable option.
Still, for this method, you are going to need a deeper market analysis, including performance charts and trends, watching trading time. Anyway, automatic tools are developing so buyers can rely on them more, but learning is, undoubtedly, necessary.
Tip 4. Get airdrops.
Although famous for high risks, this way is great for getting free coins. Moreover, airdrop projects often reward people who are their early followers and fans or promote it on social media, which is crucial for new startups.
The key thing is to check if the project is registered and what conditions it offers. It goes without saying that you shouldn’t disclose any personal info or share access to your device when taking airdrops up.
Tip 5. Play crypto games.
P2E (play to earn) or even E2E (experience to earn) blockchain games are a fun and effective way to get rewards while spending time well. This market is now worth billions of dollars. It’s also interesting how you can take full control over game NFTs, develop them, and sell them for profit.
If you are wondering where to buy your first crypto or exchange popular coins to fiat, such as AAVE to USD, check out LetExchange.io, where this is done in a few clicks.