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Make money on cryptocurrency

How to gain money with cryptocurrencies

In 2018, there are practically no people left who do not know anything about the cryptocurrency. Anyway, even if they were not investors or miners, they know something about the existence of "electronic money".

The more the popularity of the cryptocurrencies increases, the more ordinary people decide to try their hand at earning money with cryptocurrencies. Whether it is possible to do this, and what methods for enrichment are better, we will be talking about in this article.

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How to get a crypto and what to do with it

Before you try to earn money on your own, it's important to get your cryptocurrency first. You can become the owner of "electronic money" in several ways:
  • To buy cryptocurrency
  • To start mining
  • To use the faucet sites services
  • To receive cryptocurrency as payment for certain services or goods
The purchase of cryptocurrency is one of the fastest ways to obtain this kind of money. Nevertheless, even so it is necessary to show sharpness: unlike the usual euros or dollars, it is impossible to buy a crypt just in a bank or simple currency exchanges. You can buy cryptocurrency either through special exchanges and crypto-exchanges, or when transferring this kind of money to an electronic wallet.

The main ways to buy cryptocurrency for fiat money:

Cryptocurrency exchanger
Working with a crypto exchange is one of the simplest methods of buying cryptocurrency. To purchase "coins" the user just needs to register.
Special exchangers
To work with exchangers, you do not need to register or something – it will be enough to have your wallet, specify the place of receipt and then to confirm the transaction. Nevertheless, the currency exchangers differ by one big minus – for each operation it is necessary to pay the commission.
Cryptocurrency Webmoney wallet
Works both with dollars and euros, and with rubles/hryvnia. Any currency can be exchanged for crypto at the current exchange rate.
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Mining – the simplest way to make money on your own, but with the help of installed computer equipment. This way looks very tempting and unusual. But, there are also disadvantages here, one of which is profitability and resource cost.

Mining exists in two types:
  • Mining with your own "home" farm
  • Mining with cloud services
In order to earn cryptocurrency in 2018 with home farm, the miner will have to "make a lot of money": get the necessary video cards, buy additional equipment and assemble the farm itself. In order to conduct an efficient mining, you will need not just a couple of video cards, but many, and this is already a serious cost. Do not forget that the entire system will need the proper configuration.

For those who are not ready to face all these problems, there is cloud mining. The essence of the method is simple: all mining equipment is in the possession of the cloud mining service. The person who decided to mine the cryptocurrency, just needs to register on the selected site and invest money in order to get his first profit within the specified period.

Faucets are sites that pay out cryptocurrency for users who visit these sites (or for the time they spent on such portal). This method is not the most profitable, but it is less risky and does not require any investment.

Getting cryptocurrency as payment is an unusual way, popular, for example, among freelancers or various businessmen. This method is gradually gaining popularity all over the world (for example, there is a deal of "buying" a football player with cryptocurrency). Nevertheless, in some CIS countries such a payment method is not yet very popular due to the "illegal" status of the crypto currency.

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Who earns money with cryptocurrency

Since the very beginning of the "electronic money" users have shown cautious interest to them. After it became clear that the cryptocurrency isn’t a «bubble» and it is not gonna burst in the near future, more and more people started to want make money with this new invention. For several years of the cryptocurrency existence, some people learned to extract serious profits while working with cryptocurrency.

There are several categories of people, who earn with cryptocurrency:

  1. Creators of "coins" – the more promising the cryptocurrency is, the more its creator can earn. So, for example, Satoshi Nakamoto became a millionaire only because he was the man who first saved the Bitcoins at the dawn of crypto era.
  2. Miners – a large cryptocurrency volume is concentrated in the hands of miners. Those who managed to "invest" and create their own farm earlier than others have already managed to create a good capital. However, in order to start the mining in 2018, you will need extra money to purchase the necessary hardware and software.
  3. Investors are people who analyze the state and behavior of cryptocurrency, and then invest their funds in it aiming to enrich themselves. Thus, if the rate of cryptocurrency is growing, then the investor will make a profit. Earnings on cryptocurrency by investing are a very risky, but profits usually justify all the risks.
  4. Traders – unlike investors, traders earn using the change of the crypto exchange rate. Trading is conducted by a trader against the other traders. Regarding other categories, traders are the most risky representatives.
People listed above are not the ordinary people and certainly not just a curious ones who came to the crypto market to "cut down money quickly." Using the experience of successful miners, investors or traders, one can find an affirmative answer to the question "How to make money with cryptocurrency". But it just seems to be easy, but in real life there will always be business difficulties, including not only success, but also frequent losses of money and mistakes in analysis. But, not everything is so difficult – keep reading this article, and find out what to do with the cryptocurrency, if you have already bought it.

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How to dispose of cryptocurrency: the profitable ways

Once you own your cryptocurrency, you need to understand how it can be used. The main methods of applying cryptocurrency are the following:
  • To sale cryptocurrency is the simplest thing to do. You can wait the crypto rate to fall, then sell your coins and profit on the rate difference.
  • To use cryptocurrency as a method of payment. It is good for Europe – there are a lot of stores that already are friendly with cryptocurrencies, but bad for the CIS countries, where cryptocurrency is not trusted or recognized, but sometimes even prohibited.
  • To save cryptocurrency with the prospect of growth. With the example of Bitcoin, which from 2009 to 2017 gave an increase of several thousand dollars, this way of investing attracts users. Nevertheless, with the current popularity of the crypto, there is great instability and risk of collapse, which makes the method rather risky. As a variant, you can consider investing in FinTech companies that use blockchain.
What cryptocurrency to choose

The choice of a cryptocurrency also has the value. The fact is that all cryptocurrencies are absolutely different both in terms of capitalization and cost, and also in terms of their functionality. So, for example, one cryptocurrency is more convenient for purchases, and another can prove to be a profitable choice for investing. Therefore, what currency you choose depends on what you are actually going to do with it.

In addition, the initial economic state of the trader or investor also influences the choice of the cryptocurrency: for example, inexpensive altcoins are best suited for average deposits, and one can invest in the prospect for earning. For large investors, "beasts" like Bitcoin or Ethereum are more suitable.

How much can you earn with cryptocurrencies

Way of earning
Income level
Mining farms
The profitability depends more on how well a farmer equips his work – after all, the more expensive, more qualitative and newer is equipment, the more prospects for quick payback and earnings a miner will have. Usually the average mining farms pay off in about 7-8 months, and the annual yield is up to 170% (when mining on video cards).
Mining with cloud services
Working with popular cloud services, a "farmer" can recoup his investments in about six months. As a rule, the average profitability for working with cloud services is 200-230% per year.
Risky and requiring additional knowledge. Nevertheless, if the investor is able to correctly analyze the market and "guess" which of the promising altcoins will begin to grow within a year, then the probability of obtaining a profit of 300-500% per year becomes more than real
Use of faucet sites
As a rule, faucet make payments in satoshi –  100-500 per hour (approximately 2-3 Russian rubles). If you have a desire and time, you can "cooperate" with several cranes at a time and increase your daily profit. Average daily earnings from crane sites usually vary from 50 to 100 Russian rubles.
If a trader has certain knowledge and experience in trading cryptocurrency, then for one trade deal such a speculator is able to earn up to 25-30% of the deposit. It is possible to earn up to 40% a day. Nevertheless, this way of earning is the most risky, and therefore the trader will have to learn a lot before he gets a tangible profit
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Main tips for cryptocurrency investors

The cryptocurrency earning in 2018 is possible, but you should take into account some factors, so you can achieve success easily. In order to help the beginners, we will give a few tips for crypto investors.

Tune into chaos. The market of cryptocurrencies is now extremely unstable, and it is very difficult to predict the behavior of one or another coin. In addition, even with the right prediction, the state of the market can suddenly change due to the influence of various factors. You should be ready for any of this and try to approach the work without emotions.

Manage the risks. Constantly watch the rates and do not invest a larger amount than you can allow. Controlling your own risks is not only a discipline, but also an opportunity to save your money from your own trading mistakes.

Recheck your options. Even if you have already picked up a couple of promising coins, do not stop the searching. Look for coins that just appear on the market, and try to consider unique features of them (for example, the Ethereum helps to create smart contracts, and Bitcoin is respected for anonymity). If you find such a perspective in new altcoins, you should pay attention to them.

The world of cryptocurrency is constantly developing and brings something new, so stay with us and remember to subscribe to our pages in FacebookTelegram  news feed channel and YouTube  channel to stay in touch about all updates of cryptocurrency world!