The crypto market is collapsing, China is blocking Bitcoin mining, the last season of Peaky Blinders is still not out… In short, it’s chaos and we don’t know what to hang onto.
Luckily, Uncle Jo is here!
I am always looking for the best strategies to make money online. And whenever I find a strategy that actually works, I share it with you.
Many people have been getting into cryptocurrencies lately, but the fall in the market as a result of China’s decisions has cooled their ardor.
I have already written an article to allow you to earn money in a guaranteed and free way with cryptos, it is here: earn cryptos for free
But in this article I will discuss other ways to make money with cryptocurrencies, regardless of the state of the market!
Some are entirely passive, others will require a bit of work and some skills, but there are enough for you to choose the one (or those) that are right for you.
However, for each of them, the gains are equal to the investment, whether in time or money.
SUMMARY
- 1- Buy and HODL
- 2- Earn dividends in crypto
- 3- Day Trading (short-term buy-resell)
- 4- Staking
- 5- Cryptocurrency arbitrage
- 6- Mining
- 7- Airdrops
- 8- Write articles about cryptocurrencies
- 9- Accept payments in cryptocurrencies
- 10- Install a masternode
- 11- Lend crypto
- 12- Gambling with cryptocurrencies
I have scored each of its strategies according to several criteria:
- What income you can generate with this strategy
- The level of investment (time, energy money), required to achieve a result
- The degree of risk posed by the strategy
1- buy and hodl
The most common way to make money with cryptocurrencies is to invest and hold cryptos for the long term. This is called “HODL” in the vocabulary of cryptocurrencies.
Like what many investors in the stock market do, you can invest in certain cryptocurrencies and hold them until the price is higher than your initial purchase price, and then sell them to make a profit.
However, beware of the cryptos you buy. Before buying, do extensive research on the viability of the currency and its long-term implications for the market. Here are some questions you need to ask yourself before investing in crypto:
- How long has this crypto been around?
- What are its uses (means of payment, store of value, smart contracts)
- Its history and resilience in the market
I advise you to restrict yourself to cryptos that have a real use in the world and have been around for some time.
However, you don’t have to limit yourself to the most well-known cryptos. There are thousands of mid- and low-cap altcoins that have incredible price variations and through which you can earn a fortune.
As I repeat for your online business, you should not depend on a single source. Spread the risk by investing in multiple cryptos at once.
Expand your wallet with a variety of cryptocurrencies that each have a different use (security token, privacy token, social network token, etc.). Don’t rely solely on the most well-known cryptos, if you really want to make a profit.
Possible income: Medium – high
Risk: High
2- Earn dividends in crypto
As I said in the intro, you can also earn dividends (interest) on your investments and this in 100% passive.
I state all this in my article on free crypto winnings.
Several members gave me a positive feedback, they earned good dividends thanks to my link in a 100% passive way. Just apply the advice I give in the article and follow the link to be able to earn cryptos for free.
The principle is that some cryptocurrencies pay dividends that go up to 6%, not bad when we know that the Livret A is at 0.5% and the PEL at 0.7%….
Here are the main cryptos and their rate of remuneration:
- DAI -> 2%
- TEZOS -> 4.63%
- COSMOS -> 5%
- ALGORAND -> 6%
Compared to the 2 or 3% interest paid by your bank, if you make investments in life insurance or other, most cryptos offer you a return 3 times higher!
Investing in these cryptocurrencies will earn you more than if you leave your money in the bank.
Possible income: Medium (long-term)
Risk: Medium
3- Day Trading (short-term buy-resell)
Day trading is the best way to make a lot of money with cryptos.
Unlike the “HODL” strategy, day trading involves holding a crypto asset for a short period of time and then selling it when its value increases. This period can vary from a few minutes to a few hours, or even several days, depending on the crypto.
To succeed in day trading, you must constantly keep an eye on the evolution of the market. This requires great analytical skills and a very good technical knowledge of the market.
If you are a complete beginner in cryptocurrencies, I strongly advise against day trading.
But, if you have experience in traditional stock markets, day trading is pretty much the same thing and it can get very lucrative.
CAREFUL! If you are looking to get rich quickly and without doing anything, day trading is not for you. If you don’t have experience, it will be more of a plan to get poor quickly than anything else.
Risk: Very high
4- Staking
Proof of Stake (PoS), also known as staking, is one of the best ways to earn semi-passive income with cryptocurrencies.
When we compare the cost of electricity and equipment with the gains generated, we realize that mining is no longer really profitable. Also, I recommend stacking instead. What is staking?
Simply put, stacking is an alternative method to mining the validation and recording of blockchain transactions. In a Proof of Stake system, token holders place their tokens in a wallet connected to the blockchain. These tokens are then used to validate transactions and create new blocks. How to make money with stacking?
Stacking works in the same way as a fixed deposit account. Jump that there, rather than collecting interest as in the case of a fixed deposit account, you earn additional tokens as a reward as a validator of transactions in the blockchain.
However, stacking is not available for all cryptocurrencies. It is only possible with those that are based on a Proof of Stacking system. Here are some of them:
- Cardano
- Algorand
- Cosmos
- Tezos
However, the more participants in a blockchain offering staking, the more the amount of rewards decreases.
The main factor that will define the amount you will receive to do stacking is the downtime of your tokens.
With stacking, you don’t have to worry about electricity bills and the investment of several thousand euros in hardware like graphics cards that are needed to set up a mining rig. All you need to do is make sure that your wallet is still connected to the blockchain.
Risk: Medium
5- Cryptocurrency arbitrage
Those who follow me regularly know this term. This is what I do in dropshipping on eBay, but here we will apply this strategy to cryptocurrencies.
First of all, what is arbitration?
Arbitrage involves buying a product at a given price on one platform and then selling it with a margin on another platform.
