Ways to Make Money on Cryptocurrency

Info
13/05/2019
On the Internet, advertising, search engines or in public chats, there are people who will tell you how you can earn a lot of money without any efforts and risk. But it is clear that this is most likely either a fraudster, or promotes projects of other fraudsters, getting some profit as an advertiser.

The cryptocurrency market is not regulated, and has a large number of risks, even with the help of the strategies outlined here, you can lose all investments, get a temporary lock at the wrong time, or even be harassed by local authorities.

Be prepared to spend only those funds that you are willing to lose.

Strategy — buy and keep ‘in long’

There is the most simple strategy, but it works. In this strategy various “experts” give predictions that the cost of bitcoin will be limited at a level from $ 100k to $ 10kk in the next few decades. Then you buy for the entire amount of bitcoin available, put coins on your local wallet and wait for significant growth, sometimes for years, and sell some of the deposit.

Pros:

- the strategy can bring about 100–300% per annum in US dollars

- maximum volumes, almost unlimited, at the moment it is — millions of dollars, and opportunities are growing.

Cons:

- loss or theft of a wallet

- the rate is not obliged to grow forever

- long periods are possible during which you will not have income, for example, a year or three

- additional costs when using ‘old’ addresses or technologies (for example, in a few years, transfers from legacy addresses using blockchain transactions may be expensive).

Speculative trading

Speculative trading, one of the most potentially profitable ways to make money on crypto, as well as the most risky. But trading only on one exchange and even within one of the currency pairs, it is very difficult to achieve a stable income. Studying the large market of cryptocurrencies, it is clear that the really effective traders who receive income, the rest sooner or later merge their deposit into zero. In most cases, the reason is the inability to manage your risks. And also, the main reason is very difficult to predict something.

Pros:

- traders can receive for one deal 1% -5% of the volume of the transaction, communicating with some it can be seen that the volume of the day only in Russia can be millions of rubles;

- Volumes of the order of 0.1% -1% of all trading on the exchanges.

Cons:

- as in all strategies where you have to keep a cryptocurrency, — this is the risk of a fall in the rate on them, which can cover the income from trading, but you can protect yourself a little from this if you keep the total cost of cryptocurrency in stock, it is expensive and also very dangerous, since in the end you can end up with a large number of useless altcoins;

- lower liquidity on the exchanges will lead to a strong decline in revenues;

- the risk of closure / scam exchanges increases, because instead of one of the exchanges one has to work with several at once, but the losses are also smeared.

“Life is inherently risky. There is only one big risk you should avoid at all costs, and that is the risk of doing nothing.” — Denis Waitley
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