EARN MONEY WITH CRYPTOCURRENCY?

Making money with cryptocurrency can be done in different ways, all my experiences below. Do not forget that you can also lose money if you make the wrong investments, decisions or just stupid bad luck. Personally, I am not a guru or financial expert in the field of cryptocurrencies, Bitcoin, Altcoins, ICOs, mining, Lending, Blockchain and other related topics and I do not want to be seen at all. I just do what I like and share this with you as a reader so that you can learn from it.

In this article, I share my experiences about making money with cryptocurrency and how you can possibly do this. The ways I am going to deal with are mining, lending, trading, investing and an ICO. There are probably many more methods to make money with cryptocurrency, but I will treat it in money-making with cryptocurrency part 2.

Mining

Altcoins and Bitcoins arise in the process what they call in English mining. Mining is nothing more than validating and recording transactions in any form whatsoever. Because in the Blockchain network all payments must be checked. You can mine in two different ways:

Way 1
Self-mines comes that you yourself buy motherboards, graphics cards, and software. In addition, it is wise to join a mining pool. It also requires some technical knowledge, it is an expensive investment and involves a high risk. However, it is so with the mines that the return is often much higher than with cloud mining.

Way 2
Cloud mining means that you make a small or large investment in a mining company such as Genesis Mining. This is a FinTech company that does nothing but mines to coins but in huge numbers. You can invest in this as a private individual or entrepreneur and buy different types of mining contracts. This brings less risk to you and requires no technical knowledge. It is true that the return is a lot lower.

Cryptocurrency loan

Another way to make money with cryptocurrency is Lending. This is a financial service where you lend money at an interest rate.

Just like people used to leave money in the bank in the 1980s and sometimes received 10% interest or more, those golden times are over. With the traditional financial institutions, then, because with the new revolutionary world of cryptocurrency, this possibility is back.

You can, at the poloniex exchange, lend out money at a high-interest rate, they also call it the lending program there. I also show this all step by step on my youtube channel. But you can also read the article What is poloniex and then you know immediately whether it is a reliable program.

Trading

They say that cryptocurrency trading is one of the most profitable earning models on the internet. Every minute of the day, millions are earned and lost by people who, in this case, place purchase and sell orders with mouse clicks because they think the price is going up or down.

With the crypto wires, you can act in different types of cryptocurrencies. I have done a lot myself, but I do not do this every day and every minute. I have noticed that other strategies are more profitable for me and therefore work better.

This is, of course, different per person. In the video below I show how I make money with the trading of the cryptocurrency Gulden. This was in the initial phase of my crypto lifestyle, haha.

To invest

The most common way of making money with cryptocurrency is investing in different cryptocurrencies and this is also the 'safest' way. Are you not a fan of cloud mining, lending, crypto trading or participation in ICO's?

Then, in my opinion, investing in cryptocurrency is a good alternative. You can do that right now, but you have to carry out the following steps:

Step 1
Make sure you are in possession of a cryptocurrency wallet. This is a digital wallet with which you can store your purchased coins. They also call this a wallet address, see it as a new bank account but with many more options, safer and cheaper. Several cryptocurrency wallets are available. I advise you to start easily and download a desktop or mobile wallet.

Are you really going to invest serious amounts? For example, of 1000 euros or more .. you can better choose a Hardware wallet. This is the safest way to keep your coins in.

Step 2
Once you are in possession of a Bitcoin wallet, you can enter this address if you are going to buy bitcoins, for example at BTCdirect or Coinbase (8 euro free bitcoin via this unique link). In the video below I show how bitcoin buying works with iDEAL.

Step 3
Now that you have Bitcoins you do not have to do anything anymore. However, do you want to invest in other Altcoins, for example, Litecoin or Ethereum? Then it is wise to also download separate wallets. I would then exchange it personally on an exchange again. So send bitcoins and exchange them for Litecoins or Ethers and then send them back to the original wallets.

If you have more questions about step 3 or you are not completely sure. Leave a comment, I will provide you with an answer as soon as possible.

ICOs

The meaning of ICO is Initial Coin Offering, a widely used term for crowdfunding projects in the cryptocurrency world. It comes down to investing in a company that issues a new token or coin to raise money for the development of the idea or to grows faster. With ICO you are there at a very early stage, risks bring a big risk. But the returns or yields when it works out are huge. Then think of thousands of percentages ... or more.

Because the risk is very large, I have chosen to join one ICO and that is Bankera. The launch of the exchanges has yet to come, I am very curious what it will be. Also about this phenomenon, I made several videos in which I share my own experiences. You will love to watch these movies.

EXPERIENCES WITH EARNING MONEY WITH CRYPTOCURRENCY?
Hopefully, you have had something about my experiences that I have shared. If there are any questions, please fill in the forum form below or send me an email.

Do you have any other ways or experiences how people can make money with cryptocurrency and would you like to share them with our visitors? Leave a comment and describe briefly what it means.