7 Brillant Ways to Make Money with Crypto

Great Crypto Side Hustles that you Need to Try

Ways to Make Money With Crypto

So, you've heard all the commotion and have decided to join the booming cryptocurrency industry but arent exactly sure how? 

We don't blame you! Cryptocurrency can be complicated...

So we made it easy, here are the best ways to make money with cryptocurrency in 2021!

 

Jump to...

#1 - Staking

#2 - Day Trading

#3 - Mining

#4 - Crypto Trading Bots

#5 - Hodling

#6 - Earning Dividends

#7 - Running Masternodes

#1 | Staking

crypto staking

What Is Crypto Staking?

To put it simply, cryptocurrency staking is the act of depositing and holding cryptocurrencies within a staking platform or exchange in order to receive rewards/dividends at a percentage relative to your overall investment. 

Pros

Great ROI

Easy to Get Started

Set and Forget Process

Eco-Friendly Compared to Mining

Cons

Volatile Market Price Movements

Risk of Centralisation

Profit Potential
Assumed Risk
Overall Difficulty
Overall Opportunity

#2 | Day Trading

day trading

What Is Crypto Day Trading?

Day trading is a high-paced form of trading where traders will generally enter and exit trades within minutes. Day traders rely heavily on chart pattern analysis to read the market.

Pros

Limitless Profit Potential

Make Profit Going Long or Short

Trade whenever with 24/7 Crypto Markets

High Volatility

Cons

Hard to Master

Stressful at Times

Profit Potential
Assumed Risk
Overall Difficulty
Overall Opportunity

#3 | Mining

crypto mining

What Is Crypto Mining?

Crypto mining is the act of using computer power to solve cryptographic equations in order to validate transactions and receive cryptocurrency in return.

Pros

Appreciating Assets

Set and Forget

Good Profit Potential with the Right Cryptocurrencies

Cons

Consumes Electricity

Tricky Initial Setup

Profit Potential
Assumed Risk
Overall Difficulty
Overall Opportunity

#4 | Crypto Trading Bots

crypto trading bots

What are Crypto Trading Bots?

Crypto trading bots run on pre-programmed algorithms and are used to execute trades within the cryptocurrency market automatically.

Pros

Completely Passive Income

Simple to Setup

Good Profit Potential

Cons

Limited Control

Trading Bot Fees

Profit Potential
Assumed Risk
Overall Difficulty
Overall Opportunity

#5 | Long-Term Investing (HODL)

hodling crypto

What is Hodling?

"Hodling" is a long term form of investing in cryptocurrency. A "Hodler" will continue to hold their position throughout the highs and lows of the market with the hopes of the asset increasing in value over a long period of time.

Pros

Very Easy to get Started

No Ongoing Effort Required

Great Profits for the Right Cryptocurrencies

Cons

Risky

Profit Potential
Assumed Risk
Overall Difficulty
Overall Opportunity

#6 | Earning Dividends

dividends in crypto

What Are Dividends?

Dividends are a percentage of an assets price paid out to investors based on the overall size of their investment.

Pros

Simple to Set Up

Completely Passive

Cons

Slow Returns

Profit Potential
Assumed Risk
Overall Difficulty
Overall Opportunity

#7 | Running Masternodes

masternodes

What Are Masternodes?

A masternode is the governing node in certain blockchains. To become a masternode, a person will need to acquire a certain amount of the desired currency as an initial stake.

Pros

Ability to Actively Participate in Chosen Project

Completely Passive Income

Cons

Funds are Locked Up

Chances of 51% Attacks

Profit Potential
Assumed Risk
Overall Difficulty
Overall Opportunity

Conclusion

You don't need a masters degree in business to see the massive financial opportunities that come with the revolutionary payment system of cryptocurrency.

With so many different ways to make money with crypto, the only question is, which method is right for you?

If you're new to cryptocurrency, we'd recommend choosing some of the easier methods such as staking, earning dividends and hodling.

If you're experienced in the world of crypto, you might choose something a bit more complex, such as day trading, mining or setting up a trading bot.

All methods mentioned above have their own advantages and disadvantages, however, they all have one thing in common, they will all make you money when done correctly.

Thanks for reading and have a great day!

 

Which method are you going to try out? Let us know below!

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