How to earn money in cryptocurrency predictions
Cryptocurrency is an electronic type of money. They are released by generating mathematical codes (mining). Currently, there are many exchanges and exchangers that carry out transfers of electronic currency into ordinary one. If you want to exchange for example ltc to btc price or other digital currency, then it can be exchanged in just 10 minutes. The movement of funds takes place through a closed chain (the so-called “blockchain”).
Ways to earn cryptocurrency
Cryptocurrency can be earned by investing real funds in sources of income, and without any investment. The free option is more suitable for beginners and those without start-up capital – risks are minimized, but it will also take a lot of time.
There are several options for earning cryptocurrency:
- Trading on the exchange
For cryptocurrency, as well as for real money, there are special exchanges. In this case, you must complete the following steps:
- registering an account on any site and opening an account;
- depositing real funds to the account;
- buying virtual currency at a low price and resale at a higher price.
If you invest in many different crypto-aves coin wallet, buying up small lots, then it will be possible to sell them with income in the future. On the exchanges, the quotation of any currency depends only on the supply and demand for it, there are no extra charges.
The exchange option has a number of features:
- for currencies that are less in demand, there may be no supply;
- to complete any trading operation, you need to pay a commission;
- some exchanges do not accept real money, and in this case, you will have to use one of the crypto exchanges, where the least favorable rate in relation to real money.
- Cryptocurrency mining
This option for obtaining virtual money is of two types: regular and cloudy. But everything mainly depends on equipment.
Features of conventional mining:
- the positive aspects are the passivity and transparency of all procedures;
- the negative sides are a big cost of equipment, additional space for placing farms and constantly growing competition.
For cloud mining, things are a little different. There is no need to have expensive hardware. With this option, the capacities of existing installations are rented with a remote connection. This method can be a good source of income.
Disadvantages of cloud mining:
- changing the mechanism of the entire network, which varies the profitability in different directions;
- in the contracts, some services have a clause about payment for the electricity consumed by the equipment;
- withdrawals often take a long time;
Considering the risks, you can rely on the cloud option as nothing extra is required.
- Cryptocurrency faucets
Many Internet resources distribute the most popular virtual currency – “bitcoin”.
Features of Bitcoin faucets:
- the positive ones are availability, minimum risk, dependence of profit on desire, bonuses from sites, referral programs;
- negative ones are a waste of a huge amount of time and a small income, scammers.
To make money in this way, you must constantly be on the sites and perform the required actions, which can become tedious.
- Investments in ICO and IEO
A good option is to transfer your crypto coin to more popular ones – this is called “ICO projects”. Earnings come from advertising, which is paid for by “tokens”, and they can be converted into any currency – virtual or real.
This is a rather risky type of earnings, because it is not possible to make even approximate forecasts.