In this era of strict social distancing, there are many ways to generate additional income with cryptocurrency.
There are ways that cryptocurrency can provide you with a good residual income without leaving your home. These new digital assets thrive thanks to the participation of many people around the world. Cryptocurrencies have much higher volatility than other trading instruments and can be used very effectively.
We’re going to list 5 ways to make money from crypto at home.
# 1 Holding
So, the first method won’t really make a profit in the short term, but it is by far the easiest way to earn cryptocurrency. Holding is the term used to refer to buying and holding a cryptocurrency until it rises in value.
The panic caused by COVID-19 has led to a record low cryptocurrency price. This creates a time frame for those considering buying for the first time. If you choose your coins carefully, you can achieve a significant return on investment after the crisis and market recovery.
If you’re not sure which coins to buy, go for major ones like Bitcoin and Ethereum. These digital assets are always in high demand and are traded in high volumes on exchanges.
# 2 POS mining
POS mining, or Proof of Ownership as it is also called, is a great way to generate passive income as it provides the benefits of making a profit by keeping the coins in your wallet. It’s like a bank deposit, only the yield is higher. Proof of Stake (POS) has been introduced as an alternative to bitcoin’s energy-intensive proof of work (POW).
Using this method, you are still holding coins in your hand and waiting for the price change. But if you store your coins in a real online wallet 24/7, you are interested in securing the blockchain and you will be rewarded with new coins for your participation.
Tezos (XTZ) is worth a look if you plan on buying and collecting cryptocurrency. They offer a very attractive ROI of 6% per year. Ethereum is also introducing POS consensus, and there are many more like Dash, Neo, and Qtum.
# 3 Masternodes
With this system, it is very easy to become a masternode and earn cryptocurrency with coins. All you have to do is use your computer to keep full blockchain records in real time. There are some very popular coins that masternodes use to secure their network. This can also be quite interesting, as participants can often vote on the development of the blockchain.
Dash is probably the most famous cryptocurrency to use masternodes. There is also PIVX, a privacy-based coin developed and licensed by MIT.
# 4 Crypto cashback
Now there are cryptocurrencies that return monetary rewards to their users. One of the most famous is crypto.com (CRO), which is currently in the top 20 on CoinMarketCap. Your MCO Crypto Credit Card offers up to 8% cashback on all expenses. The reward is given in CRO, which can be very lucrative as the project continues to develop and the value of the coin increases.
# 5 Day trading
People have built whole careers in day trading, and the cryptocurrency market is volatile, making it extremely profitable. The idea is simple: buy low and sell high. By using cryptocurrency as a trading tool, investors have been able to achieve incredible ROI in one day.
Leveraged trading is becoming more popular where investors can borrow money to support their business. For cryptocurrency, these loans are known as cryptocurrency collateralized loans.
Understanding the underlying mechanisms is extremely important if you are going to do day trading. While this method can potentially be the most profitable, it also comes with inevitable risk, and without the proper knowledge, you may be in a worse position than when you started trading.
You have a whole world of information at your fingertips, and as we all stay at home to stop the spread of COVID-19, you can spend some time learning about charts, volatility and trading strategies. If you do the right research and invest responsibly, you can generate impressive income from day trading.
These are all viable options for making money on cryptocurrency without leaving your home. It can also be very interesting to participate. Betting on coins to have a say on the net, looking for a coin that might be highly valued in the future, or learning new knowledge and skills early in the trade can generate some excitement.
Whichever method you choose, be sure to learn everything you can. The goal is to improve your financial situation, not add to the burden of diving without the proper knowledge.
Therefore, we recommend The Worlds First Online School – For Bitcoin, Cryptocurrencies and Blockchains. There you will gain professional knowledge and be able to safely and consistently earn on cryptocurrencies without leaving your home.
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