Making money with crypto isn’t easy… It’s not just trading that makes you money either. There are several methods to make profit in crypto.
Below, I’ve written and explained seven of them, from trading to staking to receiving airdrops, have a read! Time to start with the ‘Seven Methods to profit from crypto’ guide!
The methods we’ll be discussing today:
Handing out Airdrop rewards is a great way for new cryptocurrency projects to raise awareness and gain new followers. They distribute a portion of their tokens for free, by having airdrops. Usually there are a few rules to get them, like following and liking pages on Twitter.
Basically, hunting airdrops can be profitable, but is a hard work. In the end the tokens are usually worth a few dollars, but does mean you have to research projects and execute quite a few tasks.
Basically what this means, is creating passive income or placing your crypto in a place that earns you interest. Nowadays there are a TON of options where you are able to get yields, ranging from high risk high reward, to solid and safe options.
A few examples that I use:
Binance Earn (up to 10% on $USDT) – https://www.binance.com/en/earn?ref=DTUCS0TP
ByBit Earn (Up to 5.5% on $USDC) – https://partner.bybit.com/b/ByBitEarn
Do NOTE: These both offer a LOT higher % on non stablecoins as well, like 999% on $ELT.
Buying cryptocurrency and holding them for a mid/long term is the most common way to make profit (or loss) with crypto. Before investing in a project, it’s always recommended you research the project (DYOR!). When researching you are able to decide whether you trust the project enough to keep it as a long term hold.
In order to make any profit by following this strategy, patience, rational thinking and an iron will are a MUST. This includes the ability to keep your head cool when price drops are happening and the market is volatile.
An advise I can give for this is to DCA as well (buy your cryptocurrency in certain periods of time, instead of all at once).
Every day, tons and tons of new coins are being launched. A lot of websites & exchanges offer the possibility for users to buy coins at a listing price without participating in the project’s initial exchange offering.
An example of this is the Launchpad for Bybit, or Kickstarter for Mexc.
Experience shows for example that launchpad projects on Bybit get a 15x on average. The downside to these things it that there’s always a hard cap on what you can buy (usually about $50).
It’s almost guaranteed money, without any real work. All you do is simply buy in the launchpad, and turn your $50 into $250 within a week for example.
Register on Bybit to be ready for the next Launchpad projects:
Making money by crypto mining used to be a lot more popular than it is now. It used to be profitable for almost everyone, while nowadays it’s mainly profitable for big farms/cheap energy consumers.
It requires expensive equipment and results in high electricity bills.
Staking can be seen as a sort of “mining”, but then based on the Proof of Stake (PoS) algorithm.
The advantage of this is that there’s no need to buy equipment. Simply deposit and lock a certain amount of coins or tokens on a staking platform, and you’re good to go! You’ll be receiving rewards from now on, usually instantly or daily!
The amount of % that you will receive differs from every platform, and usually is redistributed based on the amount of stakers (“miners”).
Obviously, the most known method to make money with crypto, is simply by trading (if you’re successful). Whether it’s regular spot trading, or futures trading, both can MAKE you a lot of money, but can also LOSE you a lot of money.
It’s a little different than trading stocks or boomer metals. By simply buying low and selling high, spot traders are able to make money by bearing a few risks.
When the market is volatile, or if there’s a bear market for example, you’re able to trade futures (long/shorting) to get profits by judging the market trend.
Trading futures is a great way to make a lot of money quickly, but be careful, the opposite is true as well!
If you’re interested in trading, join my Discord server where me and some others are posting free calls daily:
Also, if you want to start trading futures, be sure to register on ByBit using my link. This get’s you a few trading fee discounts, as well as certain deposit bonuses (up to $4,050!):