If you are reading this post it means you are interested in cryptocurrencies and more importantly you want to make money from cryptocurrencies. There is a general misconception among the people that crypto is easy money. You can earn money from cryptocurrencies easily which is not true. The volume in cryptocurrencies is increasing day by day and most of the volume is due to newbies. There is nothing bad in that as cryptocurrencies are gaining the required traction and wide adoption they deserve. Let us look on the way you can earn money from cryptocurrencies:
Investing in cryptocurrencies: This is the most commonly used way to earn money from cryptocurrencies. There are various exchanges to buy and sell cryptocurrencies. You just have to create an account on one of them verify your identity and you are good to go. But while investing you must do your research about the cryptocurrency you want to invest in. Your research should include the roadmap of that particular cryptocurrency, the team behind that cryptocurrency, the current price, daily volume, ATH, and of course the total market capitalization. There are many fake cryptocurrencies in the market and due to the lack of any regulatory control, there are more scams. You must take care of your money and research the cryptocurrency you are going to put your money in.
Airdrops: It is not a new term for anyone who is already into cryptocurrencies. In an airdrop, you will be getting some free tokens (cryptocurrencies) for doing some tasks. Generally, these tasks include following that cryptocurrency on Twitter, Facebook, Telegram etc. You may have to invite some of your friends and family too. You will get some quantity of cryptocurrencies in return and that newly-launched cryptocurrency will get some followers who may afterward invest in these projects also. It is a win-win situation for both, the team behind the cryptocurrencies and the people who have participated in the airdrop.
ICO: Initial Coin Offerings (ICOs) have become a norm now. Before launching any cryptocurrency on exchanges, some part of the total supply is offered in ICO. The people who want to invest early in that particular coin participate in ICO. In ICOs generally, prices are cheap and you may get 5x or 10x returns once that cryptocurrency is listed on some exchange. But again, some research is required before investing as most of the scams are happening in ICOs only. The team behind the scam coin will show you a good roadmap, offer a really cheap price for the coins and once the ICO is over they will run away with your money.
Accept Crypto as a payment method for your business: It doesn’t matter whatever business you run, you can always set up cryptocurrencies as one of the payment methods. People will be more than happy to pay you in cryptocurrencies. If Tesla can accept cryptocurrencies, you too can. While choosing the appropriate cryptocurrencies, you should choose cryptocurrencies that are fast and have low transaction fees.
Invest in Metaverse: You can buy or rent land in Metaverse. You can set up your own business in the virtual world of Metaverse and earn some real money in form of cryptocurrencies. Decentraland(MANA) and the Sandbox(SAND) are the big players in the Metaverse game presently.
Games: The gaming industry has changed a lot since the introduction of cryptocurrencies into it. Gaming assets can be sold in exchange for cryptocurrencies. 2022 is going to be an exciting year as far as the gaming industry is concerned.
Which method you are using to earn from cryptocurrencies. Do tell us in the comment box.