3 Ways To Actually Profit With Cryptocurrency
*Note: This post contains affiliate links. These are all products I use personally and enjoy.
Cryptocurrency flew on to the mainstream scene in 2017 with record profits for ICOs and a parabolic bull run up to a $20k Bitcoin price. That enthusiasm quickly vanished after scam after scam, ICOs folding up, and a host of other problems. This left a very bad taste in people’s mouths. The industry has a stain on it. Bitconnect and other scams really put an ugly spotlight on the industry. After all, it’s uncharted territory, nobody really knows where the industry is going or if it’s sustainable.
Fast forward to 2019 and the market is still bearish. The market is moving horizontally and that’s actually good, for a few reasons. More cryptocurrencies are vanishing, others are fulfilling their ICO promises. The herd is thinning. A lot of those garbage ICOs that were cash grabs are falling to the wayside, allowing the cream to rise. This is what needed to happen. As the industry moves forward, the ICOs of 2017 and their insane profits won’t be back in my opinion. But there are still ways to make great profits.
First off, cryptocurrencies are currencies. Meaning they are meant to be moved around, traded. They’re a current and they’re meant to flow. So keep that in mind when you think about them. I do not believe they’re investment vehicles, but trading instruments.
1. Automated Trading Bots
This is easily the best way to make money with cryptocurrency. They give you as an individual, similar quant trading abilities that hedge fund managers and the like have, but for cryptocurrency. There is pretty much no limit to what you can do with this, use any strategy, technique, coin or token you want. The sky is really the limit.
In How To Make Amazing Passive Income In Bitcoin I explain exactly which bot I use, how to get it running, what exchange to use, as well as some profit proof.
Staking is essentially interest payments for holding a certain coin. Most of the time you download a wallet to your computer, start running it, send coins or tokens to it, and it will start accruing interest. Check out Staking Rewards.com for the different reward and profit listings by coin.
It’s a very simple process. You will need an internet connection, however, and a computer. If you don’t have either one you can use a VPS. This will cost you a monthly or yearly fee. So make sure your payouts will be more than the costs to use a VPS.
The Brave ecosystem is meant for everyone to be able to earn BAT (Basic Attention Token, $0.28 per token). The Brave Browser is built for total privacy and freedom from being tracked and data mined. It blocks all ads. But if you want to allow Brave Network ads through, just for allowing them, you will earn BAT.
If you have a Youtube Channel, Website, Twitch account and verify yourself as a publisher, people can tip you BAT through their browser. Soon you will be able to tip on Twitter too. Then there are monthly tips you can pay, where each month you can pay your favorite creator a BAT tip.
Finally, advertisers can target users using BAT. The user receives a piece of that money advertisers pay. So it’s a self-sustaining ecosystem.
Right now just for downloading and using Brave you will receive $5 in BAT just for trying.
Download it here : Brave
Bonus : Coinbits
Coinbits is the Bitcoin version of Acorns. Acorns rounds up expenditures to the nearest dollar and take the difference, and puts it into a savings account. It’s a solid system to build a nest egg and definitely worth it. So why not do the same with cryptocurrency?
Coinbits not only allows you to round up to the nearest dollar but allows you to earn Bitcoin via donations and contributions similar to the Paypal donate button. There is also a Patreon like function for people who want to contribute monthly. So if you’re a content creator, signing up would be worthwhile.
Build your Bitcoin nestegg using this app. You might even strike gold because there is no telling what is coming for Bitcoin. Some project it to be the reserve currency of the world fairly soon. So tossing some spare change into a Bitcoin piggybank may pay off more than you can imagine.
The industry is constantly evolving and changing. Currently, it’s very very stable. Which is great for #1 and #2 especially. If you want to get in on the floor and start now, grab the ebook and check out the links. Be prepared, always better to be too early than it is to be too late.