How to make money with cryptocurrencies in 2020?

steemtimes (53)in #cryptocurrency • 5 years ago

Interested in cryptocurrencies but don't know how to make money with them? You are certainly not alone!

Dear steemit readers. In this post, I will talk about four legit and tested ways to make money with cryptocurrencies. I have personally tried couple of them and they worked. So, lets get to business and see how can you make money online with cryptocurrencies and the blockchain technology in 2020.

1- Trading

Crypto trading is very popular because it is an activity that can potentially pay off. Unlike buying strategies via a platform for exchanging and keeping tokens in a wallet , cryptocurrency trading allows you to take advantage of price variations. Due to its high volatility , cypto market is generally conducive to short-term investments. This is why many CFD brokers offer leveraged products to take advantage of the variation in the prices of the most popular cryptos such as:

Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Ripple (RXP)

2- Affiliate Marketing

By using affiliate marketing in the world of cryptocurrencies you will become essentially an online seller offering services related to Bitcoin, Dash... , an exchange platform, or a broker of your choice.

Promoting the products or services of other entities will allow you to be paid for sales, prospects or even the clicks that you generate for this product or service. In terms of compensation, a commission-based payment model is generally the most popular.

One of the reasons why affiliate marketing is so popular is because it is one of the easiest ways to start working from home. There is almost no initial investment required. All you need to get started is a computer and an Internet connection.

3- Accept cryptocurrencies as a form of payment

Offering your customers to pay with the most popular digital currencies like Bitcoin or Litecoin could allow you to attract a certain clientele. You could also show that you are at the forefront of disruptive financial technologies.

There are many ways to offer these new payment methods and to support the adoption and use of cryptocurrencies. For example, you can design a website or a mobile application that allows your costumers to pay via cryptocurrencies for the products and services your offer.

4- Lend your cryptocurrencies

Today, You can lend your coins to collect interest. To do this, simply lend your cryptocurrencies via specialized platforms (There are many). Lending your cryptocurrencies is also a very good alternative to holding your assets in wallets for months or years without generating any money.

There are several specialized lending and borrowing platforms such as Unchained Capital or Bitbond. Beware, however, of scams because it is still a new market.

Dear friends, thank you for reading. I know that was quick and short but i hope that gave an idea about how can you use crypto to make money. I did not mention the fifth way which is writing for platforms like steemit because you are already here and you know how it works. Good luck everyone.