Do you have extra bit of money lying around, and are wondering what you can do with it? Well, you should be surprised with the ideas that we have for you. Yes, with just a few bucks worth of Bitcoin, you can turn around your fortune in a year. If you can risk a few dollars, no greater way it is to get into cryptocurrency dealing. We have everything related to you in the article below.
What is Cryptocurrency?
It is a type of virtual currency where transactions occur over a decentralized network that is error-proof and not controlled over by any single institution. All records go into a ledger, called Blockchain. The digital currency will likely become the future of finance where you can also transfer shares, assets, contracts and commodities. The value of each cryptocurrency change over time and investing a few dollars is never a bad try. You can find out more details here.
How to make money with Cryptocurrency?
1. Buy a Cryptocurrency
Your first step will be to buy cryptocurrency in exchange of your money. There are a number of cryptocurrency exchanges where you can purchase coins to keep in your crypto wallet. The best one in the market right now is Coinbase. It is one of the easiest interfaces to get you started if you have no experience of your own. Moreover, there are Bitmex, Binance and Bitbox; the best altcoin exchanges for you begin with.
Once you have bought your coins, hold onto them until you find a market competitive price for them to sell. However, unlike other transactions, you have to be extra careful. Cryptocurrency prices fluctuate a lot. Bitcoin and Altcoin now are very high-priced. Instead, you can also look for the top cryptocurrency to invest in 2018 from here. In addition, we have a few suggestions regarding the emerging cryptocurrencies for you below:
- Litecoin (LTC): Soaring with a market capital of $13.95 billion.
- Monero (XMR)
- Cardano (Ada)
- Ripple (XRP)
- Iota (MIOTA)
Once you have backed up your wallet, keep looking for the right time to sell.
2. Accept Business Payments in Cryptocurrency
The second method where you can easily make money through cryptocurrency is to accept them for payments. If you replace your local money transactions with cryptocurrency, you can make a lot of difference. Find clients and customers over cryptocurrency historical data that use the same form of payment and ask them to pay you through Blockchain. In this way, you can keep storing in your digital wallet and earn more once the price value rises.
A difficult yet possible method is to mine your own cryptocurrency coins. This requires more knowledge, electricity resources and luck. If you need a trial, you can try playing Bitcoin clicker on Steam to get you the right idea. There are various easy bitcoin faucets to introduce you to new ways of buying and making money.
Another interesting indication is to get used to the LocalBitcoins app that guides you best places to sell your bitcoins. Nevertheless, what method you use to make money, make sure that you are well aware of the market conditions, risks and downfalls.