If you are a true ‘Bitcoin believer ’ and own some Bitcoin then you know that the near future has something beautiful written for you in the stars. Because of the limited supply of Bitcoin and issuing a deflationary policy, the price of BTC paired with USD can only go up in time. As a result, the crypto future with real-world cryptocurrencies are getting closer day by day now. So how can you profit from this?
Crypto Future & Ways to profit from it
Bitcoin and the related Blockchain technology have been around for or decade now, but still the technology is in it’s infancy. As a result of being in its infancy, there have been periods of time where the Bitcoin price was overhyped. At these moments, the Bitcoin price in US dollar went parabolic which resulted in a massive crash.
On the other hand, we have the fiat currencies like USD dollar and EURO. These currencies have been there for decades or even centuries and ordinary people use them on a daily basis. Venezuela and Argentina are countries with very high inflation rate(> 25%) for their local currency at the moment.
Purchase power of fiat currency
This indicates that people are losing purchasing power over their currency and their income measured annually. Not only these countries have to suffer from this inflation policy, also USD dollar and EURO are losing purchasing power. Below the chart of USD dollar visualizing a continuous bear market in purchasing power..
So now that we know that crypto has a very bright future; What are the best ways to accumulate bitcoin or cryptocurrencies and profit from it? In this article I will explain 8 ways to profit from it.
The future of crypto: 8 ways to profit from it
Let’s find out the ways to make money by accumulation as much cryptocurrency as possible and prosper from it in the near future.
1. Trading cryptocurrencies
Trading cryptocurrencies is the most common way to do this. Bitcoin was being introduced to the markets in 2011, and at that time only Mt Gox offered an online platform to trade Bitcoin for fiat currencies. Since then the total cryptocurrency market showed immense growth which results in more than 250 online trading platforms on a global scale nowadays. Binance is one of the trading platforms with the highest daily volume and gained high trust within the crypto community. Other very known platforms are :
2. Investing in cryptocurrency
Another strategy which could be very profitable is the ‘HODL strategy’. HODL is a slang in the crypto community which means that once you have bought cryptocurrency you’re not willing to sell. Of course you want to take profit in the end, but HODLING means buying crypto and just forget about it for a certain period of time(months or years).
This sounds very easy but once infected by the ‘crypto virus’ investors are willing to participate in the markets on a daily basis which could ‘trap’ them in disastrous losses.
In my opinion, there are two things you have to do before making big investments into cryptocurrency. To be well prepared for this exciting crypto future, it is very smart to do some good research into the technology and the cryptocurrency project you are planning to buy. This can be done starting at Coinmarketcap website. Also the technology is very important so do some research by trying to read the Bitcoin whitepaper(only 8 A4 formats!) or read some books about it.
Secondly, find out about cryptocurrency wallets, because here is where you want to store your newly acquired crypto. For holding onto your crypto assets for a very long time I advise you to use hardware wallets. The reason for this is that storing your crypto that way protects you from bad actors like hackers and you also have control of your own private keys.
Buying cryptocurrency instantly
Last but not least, buying the famous cryptocurrency. This can be done with credit card or bank account here.
3. Educate yourself
If you are not willing to trade or do not have much money for investing, starting an education in Blockchain technology could be an option. Also, if you are a student and need a big loan for college think twice and try to find an education in this rapidly growing technology.
Currently, there are several online platforms specialized in this subject and offer education in this new Blockchain technology space. Not only technical skills are needed, but also literacy, economics and data analysis. For only 10$ a month you have unlimited access to resources, courses from experts within the industry.
One of the benefits of the online education program of Blockgeeks is that you can earn crypto while following the entire program. So if you are looking for new job opportunities or education, don’t hesitate and be well prepared for this crypto future!
4. Referral programs
Another way of acquiring cryptocurrency is spread the word about interesting online platforms in the industry and earn a commission with it. The first step is to find good projects in which you have much trust. Secondly, try to find out if they are running referral programs.
Platforms which offer referral programs allow satisfied clients the possibility to join them. To join an existing referral you already needs to be a member of their platform and have been through a sign up process. One of the famous platforms which offer referrals are:
- Coinmama(buy/ sell cryptocurrency for fiat)
- Binance(online trading platform)
- Ledger Nano(hardware wallet for your crypto’s)
- Wirex(cryptocurrency debit card)
- Coinbase(Online trading platform)
- Cloud-mining services(Rent hash-power/electricity in the cloud)
Airdrop is when free coins are distributed. Yes, the coins are really free. On one hand, it may look too good to be true but there is business sense even in giving away free coins. These coins are distributed in various ways and their distribution depends on various factors. But it is essentially free tokens.
To participate in an Airdrop you already need to own some cryptocurrency tokens. But if you are a ‘HODLER’(see point 2) this would perfectly fit your strategy. To be able to participate in such projects the biggest chance is owning some crypto from within top 20 on Coinmarketcap. Good examples are Ethereum, NEO, TRON, EOS and Syscoin.
Copy trading is a new online phenomenon which was being introduced by stock brokers in the traditional financial world. At these platforms inexperienced stock traders can copy successful traders and have the opportunity to learn. As a matter of fact, a very low risk opportunity to get some profit out of your cryptocurrency investments.
Also the successful stock traders are rewarded with commissions for sharing their trades. This way both parties have the ability to benefit from it.
Social trading and investing platform
The massive growth of cryptocurrencies haven’t been unnoticed by these online broker platforms. One of the platforms which also offer cryptocurrencies is E-Toro .
E-Toro is a social trading and investment network that enables users to watch the financial trading activities of other users, copy them and make their own trades. The Company’s products, OpenBook and WebTrader, allow traders to learn from each other, share live trading information and capitalize on their collective power.
Setting up a free demo account here is the best way to start and getting to learn the platform. Beginning with trading requires a minimum deposit of $200.
7. Joining a blockchain project
If you are very enthusiastic about this new revolutionary technology and want to be part of this, why not joining one of these cool projects out there?
The crypto future is calling for you! Nowadays, it’s very easy to get in contact with the developers on social media or by tools like Slack or Discord. Most of these developers are already paid in the native tokens and this gives you the ability to earn some crypto also.
How to do this? Check the current Blockchain projects which are listed on Coinmarketcap and try to contact the team by visiting the links on the website. It’s really that simple!
8. Mining cryptocurrency
Another popular way of earning some extra passive income is cryptocurrency mining. If you are already familiar with cryptocurrency then you must know that Bitcoins are mined instead of minted. This by using a lot of electricity to mine the several blocks on the network.
Nowadays, it’s also very easy to join online cloud-mining services. These online services allow you to hire hashing rate for a certain subscription on a monthly basis. How higher the hashing rate, the higher the possible reward will be. One of my favorite online services is genesis-mining. You can get a discount of 3% by using this action code(PJOqFD) when setting up a new miner.
Cryptocurrency sector is just getting started and this brings a lot of new opportunities. In my opinion, the future of crypto looks very bright and promising!
The recent bear market of 2018 was the time when all good projects were focusing on developing their product and growing their user base. While you help them doing that, you have the unique chance to profit from it also. Use your digital talent and find the method which suits you best, when doing this it’s very hard not to make money online.
Disclosure: This post could contain affiliate links. This means I may make a small commission if you make a purchase. This doesn’t cost you any more but it does help me to continue publishing cool and actual content about Bitcoin & Crypto – Thank you for your support!
- How To Withdraw EGLD coins From Binance to Trust Wallet - February 3, 2023
- GUIDE: How To Buy MultiversX(EGLD) on Binance - February 2, 2023
- How To Withdraw NEAR coins From Binance to Trust Wallet - January 31, 2023