Bitcoin cranes and PTC websites allow you to earn on cryptocurrency without investing, but they can hardly be considered as a way to earn serious money. Affiliate programs bring more but will require popular blogs and high social activity. And how can you loan bitcoin, and how to earn cryptocurrency for a beginner who wants to get a stable income? And that this income can potentially be made the main one?
Optimal options at the start are long-term and copy trading. In parallel, you can invest in stacking and banding. If you have a sound trading strategy and a diversified portfolio of assets, cryptocurrencies may well become your main source of income. Plus buying NFTs with selling at a good time. And in addition, it's beneficial to take advantage of the referral programs provided by the platform you're working with. To ensure you make money from cryptocurrency, it is critical to choose a proven exchange with the most comfortable conditions.
What are meme-coins
Meme cryptocurrencies are coins that are created either as a joke or based on a meme or saying. As a rule, they have no practical value (useful project) behind them, although there are exceptions.
Perhaps the most famous meme-coin in the world is Dogecoin (DOGE). Dogecoin in 2030 will trade for around 55 cents as predictions say. But there are dozens of others. Sometimes meme-cryptocurrencies are also called shithcoins, implying that the token has no prospects and no long-term value. Meme coins are sometimes bought as a joke or for ideological reasons, but like any other token, they are most often considered from an investment point of view. After all, as they grow in popularity, their value can increase dramatically. Meme coins are much more volatile than Bitcoin, Ethereum, and other cryptocurrencies, with a solid project or idea behind them.
Reasons for popularity
Some of the meme tokens are among the most capitalized cryptocurrencies, for example, Dogecoin ranks at number 9 and Shiba Inu at number 11. So what has influenced such joke currencies to rank alongside serious infrastructure solutions like Ethereum or Polkadot?
Analysts believe this best illustrates the essence of the crypto market. Any asset, no matter what's behind it, can be worth as much as it wants, as long as there's a proper supply-demand ratio. Only the activity of users themselves affects the growth of these coins, there are no fundamental reasons.
People like the new, the unusual, or the fun. For many, investing in such assets is the same as collecting rarities. At the same time, the excitement occasionally generated by something like Elon Musk's tweets plays into the hands of speculators in the market. Many are interested in such coins only in the expectation of a fast and high profit.
The key difference between mem-tokens and other cryptocurrencies is that it is impossible to make any predictions about them. All it takes is one tweet from an Influencer to collapse the rate or, conversely, launch it to the moon. Let's take a look at a few resources that allow you to make money from cryptocurrency.
- Cryptocurrencies available: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and others.
- Commissions: 1 % from ad creator.
Localcoinswap is a platform launched in 2018 that supports 10+ cryptocurrencies and many fiat payment methods. You can start trading immediately after registration, without account verification. Security is guaranteed by the error protection of each transaction. The project offers many tutorials on blockchain and cryptocurrencies.
Withdrawal fees are limited to those that are optimal for the current level of blockchain load. Residents of all countries of the world can use the services of the decentralized platform.
- Available cryptocurrencies: 120+.
- Commissions: 0.1 % from the maker and 0.7 % from the taker.
Bisq is a fully decentralized open-source platform that allows exchanging cryptocurrencies into fiat and back without registration or even verification. Like other P2P exchanges, Bisq does not keep users' money in their accounts but simply links wallets. Anyone can follow the work and development of the project on GitHub or Slack.
To work with the system, you need to download the application for Windows, add accounts in the desired digital and fiat currencies, and then you can start trading. The process takes no more than ten minutes.
Are there risks in cryptocurrencies?
You have decided which cryptocurrency to invest in, found an exchange with favorable conditions (for example, Binance), and developed your strategy. But this does not give any particular guarantees. By following the rules of money management, diversifying your investment portfolio, and using stop-limit and additional functions of the trading terminal, you can reduce the risk but not remove it completely.
Cryptocurrencies are extremely volatile, and sometimes their quotes change completely unpredictably. Of course, with experience, you'll learn to identify even the less obvious patterns and accurately predict trends. But even as a "bison" you will not always be able to win, you will lose several bets anyway, that's the way the market works.
The sphere of stacking also has its risks, such as the so-called scam projects. These are fraudulent firms that collect funds from investors and then simply disappear. Exchanges offering to stack scrupulously sift out unreliable partners, but they cannot completely rule out risks for investors, either. So if you decide to invest in digital assets, you must be tolerant of risk. Of course, you should try to minimize it by all means available to you and try to change cryptocurrency for cash at its peak.
Cryptocurrency P2P exchanges
Cryptocurrency P2P exchanges have some advantages over centralized cryptocurrency exchanges. If their developers can make these platforms even more convenient, fast, and intuitive, they will attract significantly more traders to them. After all, everyone likes confidentiality and unprecedentedly low commissions. Centralized exchanges also appreciate the popularity of such opportunities and begin to launch their p2p services. They can be very effective for depositing or withdrawing funds, but anonymity is usually not possible there.
No matter which option of making money was chosen, the trader must remember that he or she has to make this choice by himself or herself. Relying not on others' advice but on their own needs, possibilities, and impressions of a certain method. Each of these points is beneficial in its way. But never forget about the existing risks.