7 Actual Ways To Earn Money Daily From Cryptocurrency [2022]

Make Money From Cryptocurrency

There are many ways to make money from cryptocurrency markets.

This includes conventional HODLing and buying digital currencies and staking, faucet, mining, play-to-earn games, etc.

This post will teach you about cryptocurrencies and the simplest approach to profit from them while avoiding the risks associated with more complex strategies in the United States of America, the United Kingdom, Canada, Australia, Germany, Netherlands, Sweden, New Zealand, India, Pakistan, The Philippines, Brazil, Nigeria, South Africa, Ghana, Cameroon, Egypt, Ethiopia, Tanzania, Kenya, Zambia, Zimbabwe, Uganda, Senegal, Dubai, Malaysia, and perhaps anywhere else in the world.

Let’s get started.

What is Cryptocurrency, and How Does it Work?

Cryptocurrency is a digital currency in which transactions are validated and records are kept by a decentralized system rather than a centralized authority using cryptography.

The market is filled with the best cryptocurrencies to invest in, ranging from the well-known Bitcoin, Ethereum, and Litecoin to the meme currency Dogecoin.

Cryptocurrency transactions are recorded on a blockchain, a digital ledger that ensures that the same coin is never used twice.

Transactions are processed on a blockchain network comprising thousands of devices, with owners earning cryptocurrency for their efforts.

Cryptocurrency is popular among investors because it is simple to buy, sell, and trade online.

Large corporations have announced their willingness to accept cryptocurrency as payment modes.

Celebrities like Elon Musk have large support for specific crypto assets.

Crypto value might also rise when demand rises, and supply is limited.

Cryptocurrencies can lose value if businesses stop accepting them as payment or if many people try selling them all at once.

7 Ways to Earn Money from Cryptocurrency

Here are the best ways to make money from cryptocurrency right now:

1. Early Investing in Promising New Coins

The greatest way to make money with cryptocurrency is to invest as soon as possible in the finest cryptocurrencies.

After all, if you had purchased Bitcoin when it was initially introduced in 2009, you would have paid a fraction of a cent.

When Ethereum’s token was first released in 2015, it traded at $0.75 per token.

The projects mentioned above are worth thousands of dollars and have yielded substantial profits.

Lucky Block is a more modern example, as it is developing a decentralized app that will use immutable smart contracts to facilitate global lottery games.

Lucky Blocks was priced at $0.00015 when it began its presale in January 2022.

Since then, CoinMarketCap reports that the price of Lucky Block has risen to $0.009.

In just a few months of trading, this represents thousands of percent gains.

With that said, Lucky Block is still a very new cryptocurrency project, so that you can invest in this project early.

This will give you the best opportunity of getting a good deal on an investment.

2. Staking and Interest

In the cryptocurrency markets, two unique concepts allow you to earn passive income from your idle digital assets.

The first is crypto staking, which locks your tokens away for a certain period to facilitate transaction validation on proof-of-stake blockchain networks.

Cardano, Tron, and soon – Ethereum are some of the most popular staking networks.

Importantly, you’ll earn interest on your tokens for as long as they’re locked up.

You will not be required to meet a minimum lock-up time if you engage in staking on the eToro platform. Instead, you can take your tokens out whenever you want.

The interest account is the second idea to explore while learning how to create money with cryptocurrencies passively.

Crypto interest accounts function similarly to traditional bank accounts in their most basic form.

You will be paid interest if you deposit your cryptocurrency tokens.

Your crypto tokens, unlike staking, will not be deposited into a smart contract.

Your chosen provider will borrow your tokens from those who require financial help.

As a result, the borrower will pay you an interest rate as long as the tokens are leased out.

Aqru currently has the best cryptocurrency savings account on the market.

This respected site offers a 7% annual return on Bitcoin and Ethereum deposits and a 12% return on stable coins like Tether.

Aqru’s accounts are flexible; thus, there are no lock-up terms.

You may also use the Aqru app to deposit fiat money and purchase cryptocurrency.

3. Day Trading

Active day trading is one of the most lucrative ways of making money with cryptocurrency.

However, there is one caveat: you must have a basic understanding of analyzing pricing to determine whether the token in question will rise or drop in value.

You can make money trading crypto throughout the day if you can accomplish this.

The general idea behind crypto day trading is that you will try to profit from short-term volatility.

In addition, seasoned traders in this market will rarely, if ever, hold a position for more than a day.

As a result, the goal is to open many positions throughout the day to make small but regular profits.

To trade digital currencies daily, you’ll need to find a licensed crypto exchange that meets two key criteria: minimal costs and a wide range of markets.

In terms of the former, if you are daily trading crypto with a high-fee exchange, it is difficult to make the process worthwhile. After all, commissions will chip away at your profits.

For example, Coinbase charges 1.49 percent for every slide, which must be covered before the deal can be closed with a profit.

eToro is a lot more competitive.

eToro provides access to dozens of popular digital currencies, ensuring that you never run out of day trading options.

4. HODLing

This strategy is likely the best option for novices from our list of ways to generate money using cryptocurrencies.

This is because HODLing — a play on the phrase ‘Hold’ – refers to the act of purchasing a cryptocurrency and hanging on to it for the long term.

This is like purchasing stocks and keeping them for many years.

You won’t have to worry about short-term price changes this way, especially if you buy in well-known cryptocurrencies like Bitcoin and Ethereum.

Ethereum, for example, was traded at $4,300 per token in May 2021.

The price of Ethereum had dropped to $2,100 in less than a month.

You would have lost around 50% of your ETH tokens if you panicked and sold them.

However, had you engaged in HODLing, Ethereum was trading at roughly $4,900 per token by November of the same year.

Long-term investing in bitcoin is the most effective technique.

Once again, you’ll need to find a good exchange to HODL your money in the best possible way.

eToro also fits the description here, as you can invest in 60 of the most popular cryptocurrencies for as little as $10 with industry-leading costs.

5. Play to Earn Cryptocurrency Games

If you’re looking for ways to generate money with cryptocurrencies, you might be surprised to hear that playing games is one option.

Make no mistake: the market for play-to-earn crypto games has grown to billions of dollars.

There are many other types and variations of games in this space, but Decentraland is perhaps one of the greatest crypto games to consider playing.

Decentraland is a metaverse that allows players worldwide to create virtual avatars, interact with other players, and purchase land plots.

After you’ve purchased a plot of land and constructed your own real estate project, you’ll be given a unique NFT to represent it.

You can then sell your NFT real estate on the open market.

Although this concept may seem far-fetched, some Decentraland metaverse land plots have sold for millions of dollars.

Buying on time gives you the best chance of getting a good deal on an NFT.

6. Faucets

Completing tasks on cryptocurrency faucet websites allows you to earn free digital tokens.

There are many platforms in this space, and the specific duties you must do will differ from one to the next.

Some crypto faucet services, for example, ask you to complete captcha.

This is something that everyone can do; thus, no prior experience is required.

There are bitcoin faucets that are available as a mobile app.

These frequently ask you to play newly released games for free crypto when you reach specific milestones.

However, it is crucial to remember that the benefits offered by crypto faucet services are insignificant.

Most tasks will only pay only a few cents in cryptocurrency.

Crypto faucets don’t require you to deposit any money, so you can receive rewards taking no risks.

7. Mining

Mining is the final option to explore from our list of the top ways to generate money with cryptocurrency.

In a word, mining is attaching specialized hardware to a desktop computer, which then connects to the cryptocurrency’s blockchain.

Miners are supposed to make the network decentralized.

Because mining equipment solves difficult mathematical calculations, transactions are validated.

Miners are rewarded with newly created cryptocurrency tokens that enter circulation, and each block is validated in return.

For example, with Bitcoin, a new block is created every 10 minutes, resulting in an additional 6.25 BTC.


The Best Crypto Trading and Investing Platforms

We analyzed the top platforms to make money with cryptocurrency in the sections below to spare you endless hours of research.

eToro 

eToro is the greatest platform for investing in and trading cryptocurrencies.

Whether you want to hold bitcoin for a long time or engage in a short-term day trading plan, eToro has you covered.

Foremost, this site is highly regulated, ensuring that you can safely engage in crypto trading.

This includes permission from regulators in the United States, the United Kingdom, Cyprus, and Australia.

eToro’s 25 million registered users have access to roughly 60 prominent cryptocurrencies, allowing them to diversify their portfolios easily.

Bitcoin, Ethereum, XRP, Dogecoin, Shiba Inu, BNB, and Cardano are among the most popular cryptocurrencies on the eToro website.

The minimum trade amount is only $10, allowing you to try your hand at cryptocurrency without risking a large sum of money.

The minimum deposit for US consumers is likewise $10, ideal for those on a tight budget. 

eToro also offers two top solutions that allow you to profit from cryptocurrencies in a completely passive manner.

To begin, you can put money into an eToro-managed smart portfolio.

Many cryptocurrency portfolios exist, and your digital asset portfolio will be rebalanced and maintained on your behalf.

If you like the idea of crypto day trading but lack the time or skills to do so, eToro allows you to imitate the positions of an experienced trader in real-time.

The eToro platform is available both online and through its leading crypto app.

In either case, eToro accepts fee-free deposits from US clients via debit/credit card, e-wallet, or bank transfer.

Aqru 

If the idea of earning passive income appeals to you, Aqru is the best platform for making money with cryptocurrency.

As previously said, Aqru is a reputable crypto lending platform with some of the best APYs in the industry.

To be clear, you will get a 7% annual percentage yield on Bitcoin and Ethereum.

If you want to make even more money, Aqru’s stable coins have an APY of 12%, covering DAI, Tether, and USD Coins.

Aqru distinguishes out in this market not only because of its excellent yields but also because every one of its savings accounts is flexible.

This implies that you can request withdrawals of your cryptocurrency tokens.

Your interest payments are automatically credited to your Aqru account every day.

The payments can then be reinvested in an Aqru savings account to take benefit of compound interest.

You can start using Aqru by depositing digital tokens straight into the platform.

You can also fund your account in USD, EUR, or GBP if you have no cryptocurrencies.

Bank transfers and debit/credit cards are accepted modes of payment.

Conclusion

After reading this article, understand better on how to profit from cryptocurrencies.

Before investing, it is vital to understand crypto – you must conduct research to ensure a safe investment and a profit.

The market’s difficulties should be thoroughly investigated.

One thing to ensure is to have your wallet ready before you begin your adventure.

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About Saint Chinedu 137 Articles
My GOAL is to equip you with the right strategy and working information to improve academically, financially and also achieve a healthy lifestyle this year.

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