Important Ways To Earn In The Cryptoworld #002

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Hello crypto friends,

I believe you are all doing great today and are enjoying the activities of the platform.

It is another beautiful day and I am pleased to come before you all to discuss on the various ways in which we can earn from cryptocurrency.

It is very important for one to earn money as a crypto investor, as there are various ways to earn money.

I believe you are interested in the ways to earn money from cryptocurrency, please follow along as we explain such ways:

• CRYPTO TRADING:

Crypto trading can be explained to be the buying and selling of digital currency such as STEEM, TRON etc on any online exchanges.

This form of buying involves buying a currency at a low price and selling at an higher price.

Almost all crypto investors are familiar with trading on exchanges, and as the name implies trading refers to the swap of currencies for another currency.

Cryptocurrency trading on exchanges usually involves two currency pairs, e.g STEEM/BTC, STEEM/USDT, TRX/USDT etc

In crypto trading, there are methods used to make profit from the market and one of them is fundamental analysis.

Fundamental analysis in crypto trading refers to the study of the fundamentals and use cases of a project before trading them.

This also involves the study of news to determine the next price movement of a coin.

• MINING:

Mining in cryptocurrency is a popular term and it can be explained to be the process of verifying transactions and adding new blocks to the blockchain.

Mining is the technology behind the functioning of cryptocurrencies and it is a very important part of the decentralized nature of digital currencies.

In the traditional banking system, the central authority are in charge of the recording of financial transactions and this is different from the operation of cryptocurrency.

Cryptocurrency works using a decentralized network of computers known as nodes and the mechanism used to maintain the integrity of the network is known as mining.

Mining is a very important way of making passive income because miners/validators are rewarded handsomely for every block added to the blockchain.

Using Bitcoin as an example, miners are paid 6.25Btc per block mined.
1btc is equivalent to $25800 as at when this post was made, then 6.25btc is equivalent to $161,250.

As at when this post was made the amount for a block of btc mined is equivalent to $161,250 which is quite a huge amount of money.

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CONCLUSION

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I wish to continue explaining ways we can earn from cryptocurrency but time is not on my side as other duty calls.

I will stop here and we shall continue our conversation next time.
See you soon