5 More ways to make money with Digital currencies

in cryptocurrency •  10 months ago

Hi guys here's another article on ways to benefit from the opportunities within cryptocurrencies

Picture of Bitcoin

Lending Platforms

Lending platforms sometimes called high yield investment platforms(HYIPs) provide a great way to get a steady stream of daily income with minimal effort and without the anxiety that comes with trading. Having the ability to payout variable daily profits of 0.00% up to 2% is one of the best attributes of a cryptocurrency lending platform. Lending programs never payout a negative return and as such provides a better alternative to trading, as with trading there are days you have losses.

To participate in a lending program, you first acquire bitcoin by earning or buying it, next you lend your bitcoins to a lending program. The first popularly known platform to fine tune and pioneer cryptocurrency lending is Bitconnect. Bitconnect’s business model has proven it is possible to sustain a stream of passive income based on the profit gains from the volatility in trading bitcoin. Since Bitconnect’s inception there has been a wave of new lending platforms and as such it is important to properly vet a platform and do some research before starting any lending. See a list of operational lending platforms link to Google!here.

ICOs from established companies

As with initial public offering(IPO) in the stock market, there is initial coin offering(ICO) with digital currencies. ICOs are used to fund new startup ventures often involving cryptocurrencies and the blockchain, the underlying fabric of most digital currencies. ICOs present an opportunity to buy these coins when they are first introduced to the market at base price. ICOs offer an amazing way of giving returns in multiples of your original investment.

As a modest example will show, in one ICO, the coin Bitserial was purchased for $0.75 and is now trading around $6 on exchanges as of this writing. That is well over 7 times gain or over a 700% return on your initial investment. The biggest advantage of participating in an ICO is to get the coin at its cheapest value, getting paid a referral bonus and receiving bonus coins as an early adaptor. However, most ICOs are start-up ventures with no history. It is important to pay keen attention to when the coins purchased hit the market on exchanges. Depending on the market’s reaction to the coin, the value may increase or decrease and this is what will be used to decide whether to hold the coins purchased or sell.

Consulting

If you have been working with digital currencies for a while and are quite knowledgeable about it, another way of making money in this space is getting paid to share your knowledge. One medium for sharing your knowledge is by giving talks at conferences related to cryptocurrencies and the blockchain. As an added benefit cryptocurrency experts that give talks enjoy perks of free flights and get to visit different parts of the world. Other channels of sharing your knowledge include youtube, blogging and private consulting.

Arbitrage

From time to time each digital currency exchange will have different prices for the same cryptocurrency. Arbitrage is the process of buying one currency on an exchange at a low price and selling it on another for a higher price. Price variations are greater when there is a higher demand for a currency in certain markets. When viewing a particular currency on coinmarketcap’s website , click on the Markets tab, from there you can see what that currency is selling for in different markets and exchanges. Typical price variations can run into the thousands for some currencies and pose a great opportunity to make a big profit.

Startups

Got a bright idea you would like to bring to life? The revolutionary technology that powers digital currencies, the blockchain, maybe the solution to your business. Some niche markets experienced under development due to the proper technology not being available. Starting a business that runs on the blockchan can overcome some technological barriers and invent disruptive technologies. As an example a company that will now run on the blockchain called ClearPoll will solve the problem of a tamper proof and transparent polls. Scores of companies are using the processing power of a peer to peer network and the blockchain in medicine and technology.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

I believe the best and most obvious method actually is trading. These platforms are nice but most are scam and will give less return and liquidity then trading or holding.

·

I started off in the business trading, went into lending for the steady returns. I will eventually transition back into trading to have more control over my funds. There's a company called bitbond that lends to people trying to expand their business offline, that can be a great alternative to the lending platforms.

Lending platforms seem to be an excellent new opportunity according to Suppoman who has a course teaching crypto on Udemy. Not sure if you've heard of Suppoman but he's well versed and has a fairly large following.

·

I've heard of Suppoman, watched a couple of his videos. I like lending platforms for the simple reason of passive income.

I think those platforms are the biggest BS - for treating ICOs like FIAT money!!!
krypto money is not infinite, so who is allowed to to lend/borrow it: and again, only the rich poeple and not the ones in nead.