The world of Crypto has opened up a lot of opportunities to make money. The most basic way to do this is to buy and hold. This is called HODLing. You can also trade it; you can lend it, stake it, mine it, there really are many ways – How to Make Money with CRYPTO.
Today I am going to show you How to Make Money with Crypto. HODLing is not hard; you buy and hold, sell to realize your profit. Trading can be a little more challenging & technical but does not have to be difficult either. There are also easy ways to mine & stake your coin.
Let’s dive straight in and have a look at each option.
If you had bought Bitcoin 2 years ago, you would have paid $3,500 for 1 BTC. Today, if you sold your 1 BTC, it would be worth approx $31,500. That is 900% ROI not bad for a 2-year investment.
If you read the wiki link above, you would know hodlers don’t sell, but if we are going to make money, you need to realise your profits at some point in time. To make profits, you need to buy low and sell high, simple. In the BTC example, we could have bought Low @ $3,500 & Sold High @ $31,500 over a period of 2 years for 900 % ROI.
That is just one real-life example on one cryptocurrency. There are many more with even higher returns. There are also many that you could have lost money on. So how do you know which ones are good and when to buy?
Timing Entry on Investments.
I personally use what I have learnt from trading crypto to time my entries for investing. I have been following the crypto charts daily for some time now, so have a fair knowledge of how the crypto market moves. It can be very volatile and move very fast compared to other markets, and it’s not for the faint-hearted. You can have huge swings in any direction.
I only use technical analysis for my trading, and I also use this to buy my coins to HODL. By timing my entry, I can buy my coin of choice for better value, but if you are holding long term, it does not really matter at what price you buy. You need to be in the game though, so you need to buy at some point.
If you plan to HODL long term another way to enter is with Dollar-Cost Averaging or DCA. This method is simple and does not require you to do any analysis. You buy small amounts at regular intervals. For example, if you wanted to buy $1000 of BTC you might buy $100 at the same time every week for 10 weeks, instead of buying it all at once.
It simply averages out your overall buy-in price and minimises your risk of buying in at a high price on a particular coin. You can read more about DCA on Investopedia.
But Which Coin?
There are thousands of crypto coins & tokens to choose from, so how do you know which one to choose? Research is the key when trading I don’t really care what coin I trade on. If it is the top 100 market cap and gives a signal, I will trade it.
When it comes to investing, it is a little different. I want to know what I am investing in. The first place to start is to read the White Paper. If you are unsure about all these crypto terms, you can find all the definitions in my post Understanding the Crypto Lingo.
In the White Paper, you will find all you need to know about a certain coin. You need to do your research and find out what they are all about. They need to be 100% transparent if there is any doubt or you are unsure about a coin don’t put your money in it.
You can make a lot of money on some of the lesser know coins if you are game. You can literally get rich overnight because you can make massive returns very quickly. The downside is they can crash just as fast, you could lose all your money, and for this reason, I tend to stick to the better know coins that I am confident to invest in.
The Big Dogs
I have not been game to put my money into any of the lesser-known coins I tend to stick to the Big Dogs. Bitcoin was the first cryptocurrency and is the biggest player by far. Ether is the next big one, and there are only a few others that I invest in, DFI & DOT are others that I like. BTC / ETH & DOT are in the top 10 market cap.
DFI is the coin of the DeFi blockchain. DeFi is a project that is doing BIG things in the world of Decentralized Finance. There are all sorts of ways to make money with DeFi. I will get to those shortly. I only invest in DeFi because I have researched it and I think they are really trying hard to do great things in the crypto space. I really believe in it and think DeFi is a good thing.
If you are game, do your research and invest into some of the smaller, lesser-known coins but be very cautious, they can be very volatile, and you can make a lot, but you can also lose a lot. I stick top the top ones because they are a little like the Blue Chip Shares in that I consider them a little less risky.
Trading to Make Money
Trading crypto is not as hard as what people think. In fact, it is easy the way that I trade. I trade with a checklist, I have a stringent Trading Plan and use 100% Technical Analysis. If I can tick the boxes on my checklist for my trading strategy, I make a trade.
It really is simple the strategies I use and how I trade, and because I trade Futures Contracts, I can short the market as well. This means I have the ability to make money when the market is going up or down. The hard part of trading is Trading Psychology. Your head must be in the right place to trade. If it is not, you are guaranteed to lose money.
The fast path to success with trading is to copy someone with experience in the market, someone who is already successful, find a mentor. That someone for me is Craig Cobb, Craig is an experienced crypto trader that teaches ALL the aspects of trading, and he doesn’t just sell a course. He is passionate about what he does, and it shows.
You can access the Trader Cobb course for free. The free course is a great place to start and is exceptional value for free. Many people say they get more from the free Trader Cobb trading course than they have from many paid courses. To get access to the Trader Cobb, Free Crypto Trading Course, click the link or the banner below.
Staking your Crypto
Staking your crypto is another way that you can easily earn interest on the coin you hold. You can’t stake all coins, but you can earn good interest on certain ones. I will not detail Staking in this post, but if you would like to know more detail about staking, read of my recent post What is Crypto Staking.
I will tell you here now though that you can now stake a lot of coins on exchanges. I currently stake DOT on KuCoin and get around 13% not bad for what I think is minimal risk.
I also stake FTT coin on the FTX exchange, FTT is FTX’s own coin, and by staking FTT, I get a discount on my trading fees. FTX is the main exchange I use for trading crypto.
I also stake DFI for 37% APY at Pool by CAKE Watch the short video below to see what Staking @ CAKE is all about.
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The other way that I make money with crypto is Liquidity Mining you can read all about it Here ====> What is Liquidity Mining | CAKE DeFi Review
CAKE DeFi is a platform that makes it really easy to invest in crypto even for a complete noob. Currently, at CAKE I am making around 200% APY. Some people think Liquidity Mining is a high risk, but I think it is low when you use a platform like CAKE.
Liquidity Mining on Cake DeFi explained simply and quickly. (Under 3minutes!)
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Final Words on Making Money with CRYPTO
Now you have a few options on How to Make Money with Crypto, which one will you choose? I do all of them, and I am constantly exploring new ways to make money with crypto. When I find new ways, I will be shore and let you know.
A lot of people think crypto is risky, and investing and trading are risky. This keeps them out of the crypto market, and that is fine. I don’t really care. They don’t know what they are missing out on. All the ways I have shown you today to make money with crypto I personally use.
Some carry more risk than others, but I have considered these risks, and I am prepared to take them, it works for me. Just be sure and do your own research, be comfortable with the risks you take in the crypto space and be sure not to get caught out by a Scam. Read about crypto Scam Here ===> Bitcoin SCAM Alert
What are YOU Waiting For?
So now you know How to Make Money with Crypto Go and Get Some!
Click the Links ====> Your Free Crypto Trading Course
Click Here for ====> Staking, Mining, Investing @ CAKE DeFi
Be the Best you can Be
! DISCLAIMER: I am not a financial advisor. This is not financial advice. The content and material I provide on 2dsirecrypto.com is my opinion only and general in nature. Always do your own research before investing any money. You should always understand the risks involved in trading and investing and seek advice from licensed professionals before undertaking any investments of your own.