Methods of making money from digital currencies

It can be said that the digital currency market is a nascent, large and profitable market that has attracted many traders, investors and even ordinary people. The methods of making money from digital currencies are very diverse and wide, and many people around the world make money from this market in different ways and with different transactions. The digital currency market is currently one of the most popular financial markets for millions of users and investors, with thousands of different projects and cryptocurrencies, and despite the large volume of capital and transactions.

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Among many cryptocurrencies, Bitcoin has the largest market share. However, there are many ways to earn money from digital currencies and these days people who are aware of these ways and methods and have sufficient knowledge in this field are one step ahead of others. In the following, we will discuss the best ways to earn money from digital currencies.

Trade and trading

One of the most common ways to earn money from digital currencies is trading. Trading is actually a part of every financial market such as stock market, forex and also digital currency. or the fall in the price of digital currencies  earn money  . A trader or a trader is someone who tries to find the right entry and exit points for cryptocurrencies by using technical and fundamental analysis and by using personal strategies and making money. Currently, trading can be considered a job because it takes a lot of time from a person due to analysis and market research, and also requires capital and risk management to operate in the cryptocurrency market.

Learn more: Who is the trader?

The method of making money through trading can be the most profitable and at the same time the most risky ways of making money through the cryptocurrency market. Trading requires knowledge and expertise, and people who enter this field impulsively and without consultation and knowledge will suffer irreparable losses. You can get this knowledge from Mohammad Famurian’s digital currency intelligence course.

If you intend to trade, you can register in one of the international exchanges such as Binance, Kocoin, Coinbase, etc., or you can use domestic exchanges such as Nobitex, Bitberg, etc.

Holding digital currencies

Another way to earn money from digital currencies is holding or keeping digital currencies for a relatively long time. Considering the growth and volatility of digital currencies, this method is less stressful and more secure than trading, and it is also profitable. For example, you can buy a digital currency such as bitcoin or ethereum and keep it in your wallet for 6 months or 1 year and get profit based on the growth of this currency during this period.

Many digital currencies have grown a lot in the past months and years, and the people who were so-called holders of these currencies have been able to earn a lot of money. However, keep in mind that holding doesn’t always end up being profitable, and you may end up with a cryptocurrency falling too much in different timeframes.

Extraction and staking

You have probably heard the word mining many times and have been curious about its meaning. Mining digital currency is illegal in Iran, but to do this, they generally use specially configured devices, high electrical energy and a suitable environment to use the devices. Mining digital currencies requires solving extensive and complex mathematical problems that only special systems and hardware can handle. Bitcoin mining is becoming more difficult day by day and this has caused many people these days to go to other cryptocurrencies instead of bitcoin mining, although it is possible that other cryptocurrencies require more expensive systems or more electricity consumption. Be.

Next to the concept of mining, there is another concept called staking. Staking digital currency is just like putting money in a bank and getting interest. The higher the amount of deposit and also the higher the amount of participation on a cryptocurrency, the more interest you will receive. In fact, by staking a digital currency (such as Cardano, Binance Coin, Atom, etc.) for a certain period of time (for example, three months, six months, or one year), you receive the amount of interest. In some cases, the profit of some cryptocurrencies can even be several times higher than the bank profit for you.

To stake digital currency, just go to the currency staking section in your wallet or in international exchanges and start staking.

arbitrage

Suppose that Bitcoin digital currency is 60 thousand dollars in Binance exchange and 61 thousand dollars in Kocoin exchange. Arbitrage means that people buy digital currency at a lower price from one exchange and sell it at a higher price at another exchange. It is exactly like buying a product from one city in Iran at a cheaper price and selling it at a higher price in another city. Arbitrage is another method of making money from digital currencies that has been used for a long time.

Suggested article: Reasons for the popularity of the digital currency market

The important thing about arbitrage is that you have to pay attention to the fluctuations as well as the fee of each exchange. Because if you buy a cryptocurrency at a low price but pay a high fee, or on the contrary if you sell a cryptocurrency and pay a high fee, you may end up not making a profit from this type of transaction!

Methods of earning money from digital currencies – games and games

It’s fun to play! Now think about earning digital currency from playing!! This can multiply the game’s appeal. Fortunately, these days gamers and even ordinary people can earn money through games and earn digital currency. Currently, Axie Infinity is one of the most popular NFT games. Since its release in 2018, the game has around 60,000 players, many of them in the Philippines!

Various games and sites such as Lucky Dice, Rollercoin, Tremor Games, Cash Clamber, etc. are games that you can use to earn money through digital ez.

Airdrops

The main purpose of airdrops is to introduce a new token or coin. AirDrop is usually used to introduce tokens or coins, introduce exchanges, wallets, get information, etc. For example, the token provider company or team will give you free coins in exchange for performing a series of activities, or offer you services related to the exchange or wallet for free. The types of airdrops are:

• Bounty
• Standard
• Holder

The activities that the AirDrop provider usually wants from users can include advertising, clicking, joining the Telegram channel, etc. In return they will give you free coins for certain activities you do.

Conclusion

As mentioned, there are many ways and methods of earning money from digital currencies. In addition to the mentioned methods, there are other methods that you can use, such as cashing in DeFi platforms, Fast sites, etc. Anyway, the digital currency market is a hot and profitable market where many people invest in it in different ways and earn a lot of profits in different ways.

We suggest that you don’t miss Mohammad Famurian’s digital currency intelligence course in order to become a powerful trader or holder in the field of digital currencies.