7 Methods To Make Money Through Cryptocurrency In 2020

methods make money with cryptocurrency earn profits bitcoin trading crypto revenue

This article was written by our friend Marco Fisher, who is a contributor on this website.

Cryptocurrency investors and traders can become millionaires in a short amount of time. 

However, there is more to it than meets the eye. What most people don’t know is that there are things to consider such as: 

● Market capitalization 
● Trade volume 
● News trends 
● Crypto exchange platforms 
● Knowledge in cryptocurrency 

And the list could go on. 

This does not change the fact that you can earn decently in the crypto market. And because of its volatile nature, you can even earn by up to 200% if you know what you’re looking for. 

Moreover, there are many ways as well to make money through cryptocurrency. It’s not limited to trading. 

In this article, you will know the different methods on how you can earn in the cryptocurrency market and find which of these suits you best. 

Take A Look At The Ways To Earn From Cryptocurrency 

Many people think that trading is the only way to earn in cryptocurrency. 

But, several blockchain technology developments made cryptocurrency a vast market. Here are some of the ways on how you can earn in this industry: 

Investing 

Even if you are not an active trader, you can still make money in the crypto market through investing. 

The difference between crypto investing and crypto trading is that the former aims for long-term position while the latter is for short-term profits. 

In crypto investing, you have to buy the coins and hold it until the price goes high. This is useful for projects that you see as having the potential to grow. 

Cryptocurrency Mining 

Unlike fiat which is minted, coins are mined. 

Mining can be challenging, but if you’re successful it can be very profitable and can be a good source of passive income. 

Miners secure the network and process transactions. To do this, they solve complex hashing puzzles and “chain” together blocks of transactions. 

The reason why crypto mining is not for everyone because of the investment you need to make. 

It requires a high-end GPU (Graphics Processing Unit) and ASIC (Application Specific Integrated Circuit) to set up a mining rig. 

Also, mining is exhaustive on resources such as electricity and internet connection. 

There’s also a crypto mobile mining app that lets you mine coins via phone. However, it is not recommended due to the damage it can do to your device. 

Day Trading 

Cryptocurrency day trading lets you potentially gain profits in a short amount of time. 

Because of the volatile nature of the crypto market, this method is profitable since you can take advantage of the ups and downs during the day. 

However, this requires constant monitoring of the market, news trends, and reading charts. 

This means that you need to have some knowledge about cryptocurrency and technical analysis which makes it not suitable for beginners. 

If you’re interested in day trading, you can register at a trading platform that has a demo account to give you an idea of what it’s like to trade. 

Be A Crypto Affiliate Marketer 

Affiliate marketing means earning commissions by promoting the products of other people or businesses. 

In crypto affiliate marketing, you can receive payments as coins instead of fiat. 

To be a crypto affiliate marketer, you have to sign up for affiliate programs and receive a unique URL that you can post on your blog or website. 

If a customer clicks on your referral link and makes a purchase, then you’ll receive a commission. 

However, take note that the payment conditions may vary depending on the affiliate program you joined. 

Play Games And Earn Crypto 

Can you imagine having fun while earning cryptocurrency? 

The conventional way of making money in cryptocurrency is not always appealing. That is why crypto companies have developed games that let players earn digital assets. 

All you need to do is download the game, have fun, and receive rewards. Here are some of the games: 

Altcoin Fantasy – In this game, you can learn how to trade crypto in a safe environment. There are contests that you can join to earn prizes. 

CryptoKitties – This is a game where you own a cat and breed them. Players earn through buy and sell, breed, or sire cats. 

Satoshi Quiz – You can accumulate satoshis by answering correctly the questions in this game. 

Copy Trading 

Not everyone has the time to learn the ins and outs of crypto trading. 

If you’re one of those people, yet you still want to trade, you can try copy trading. 

Copy trading lets you copy the trades of another trader. This is beneficial for beginners since they can copy from the experts. 

Sign up with a copy trading platform such as eToro. Once you find a trader you want to copy, you can go ahead and link a portion of your funds to the trader’s account. 

Whenever the trader takes a position, it will automatically be duplicated in your account. 

This is very convenient since the process is automated. 

Crypto Faucets 

Some websites and apps pay bitcoins and other cryptocurrencies if you can complete tasks for them. 

Some of the tasks include clicking on an ad, filling out surveys, or completing offers. 

These “faucets” sprinkle out small amounts of coins as payment after finishing their tasks. The amount varies between 0.000001 BTC to 0.0001 BTC. 

Take note that you need a crypto wallet to store your earnings. Some crypto wallets you may consider are Coinbase and Blockchain

Cryptocurrency Conclusion 

Cryptocurrency is a growing market filled with opportunities to make money and getting started investing in crypto doesn’t need to be difficult. 

With so many alternative methods to choose from, you can start earning today with cryptocurrency! 

You don’t have to start with a big investment. Begin with small investments and as you grow your money, then you can venture in bigger opportunities. Cash in on crypto today!

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