here are many ways to earn money in the cryptocurrency industry, but not all is effective and safe. I will explore some proven ways for investing in cryptocurrency. Here are the top 10 ways.
1 Long Term Investing
This is the easiest way to make money with cryptocurrency. Many people decide not to trade cryptocurrencies, but instead buy a certain number of coins and then put them in their wallets until the price rise so that they can make profits.
The premise of long term investing is that you have researched and believe the cryptocurrencies you invest will get more market share after some time.
Although there are many different digital coins, we recommend that you pick the safe and highly liquid currencies, such as BTC, LTC, and XRP. These coins have been popular on the market. If you invest in a new crypto coin, it may be cheap, but the coin is likely to disappear after the trial of the market.
Currently, many people earn a big profit from Bitcoin, because they bought Bitcoin in the year of 2011 or 2012, and they hold these digital coins for several years even if the price of bitcoin had raised to 8,000 USD.
￭ Easy to start
￭ Take a long time
2 Trade crypto CFDs
Any product with price fluctuations can be traded in the form of a contract ffor difference. CFD actually is just a financial tool. With CFD, you can have leverage and margin trading on bitcoin
CFD is a T+0 margin trading product, you can go long or go short. no matter the market moves, you have the opportunities for risky returns from markets fluctuating.
It’s popular to use CFDs to hedge physical portfolios for investors, especially in volatile markets.
With cryptocurrency CFD, you are able to trade as little as 0.1 lot bitcoin with a small deposit as an initial margin.
￭ Speculate on crypto price without owning the crypto
￭ No need to deal with crypto exchanges or open a crypto storage wallet
￭ Trading on margin magnifies gains
￭ Increase profits through the use of leverage
￭ The ability to open long/short positions without restriction
￭ T+0 trading is more flexible
￭ The main risk associated with CFD trading involves leverage.
￭ Not suitable for holding a position in long-term
If you are interested in making money with cryptocurrency in a faster way, then you can try, which is a trading strategy where investors buy and sell orders for multiple times in one day.
The high volatility of Bitcoin and cryptocurrencies makes the crypto market like a roller coaster, which is ideal for day trading, as during the day you will have enough ups and downs to get a good profit.
Ideally, you’ll look for a low-priced opportunity to buy in and then sell it at a higher price. Though this may be a small income, in the long run, this can bring considerable profits to investors.
Day trading is a skill just like anything else. If you take more time to understand how it works, then it may be a full-time adventure.
Of course, no one will win in every trading, but the goal of day trading is simply to win more times.