7 ways to start earning cryptocurrency in 2022
The list will include a variety of strategies; some are appropriate for novices, while others will need not only substantial money outlays but also specialized expertise, such as how to set up a mining operation or when it is best to purchase cryptocurrencies.
Medium- and long-term trading on the stock exchange and cryptocurrency investments
This strategy involves an investment, and the more bitcoin you invest, the more you may make overall. The bottom line is straightforward: you must purchase a cryptocurrency, like BTC, while its price is low and sell it when it increases, converting BTC into an asset similar to shares.
Look, if you went back in time to 2013 and purchased 100 bitcoins at a price of $15 each, you could sell those 100 bitcoins for $6,610,300 on November 10th, 2013. To put it another way, if you invested $1,500 in 2013, you might have $6,610,300 in 2021!
— The Binance exchange is what I recommend using for buying and selling cryptocurrencies.
What is cryptocurrency trading? + Exchanges list
Trading cryptocurrencies allows you to immediately make money by completing transactions in less than 30 seconds, as opposed to purchasing bitcoin and storing it as an asset while waiting for better times.
The technique is complicated, but the essence is extremely straightforward. You must first sign up for a special trading account on the cryptocurrency exchange, fund it with money, or start with a demo balance. Once you've made your decision, you must immediately begin trading. The basic idea behind trading is to predict whether the price will go up or down within a given or custom time frame.
As an illustration, let's assume that the price of bitcoin will decrease in 1 minute and place a $100 wager. If the price decreases in 1 minute, around 80% of the wager is added, or +$80.
- OKX
- Binance
- Bybit
Bitcoin faucets: A Free Way to Earn Cryptocurrency
With bitcoin faucets, you may earn cryptocurrency without making any investments; to be more accurate, you just need to carry out a few easy tasks.
Is it feasible to profit greatly from faucets? It is feasible, but only if the value of the cryptocurrency that pays you increases. For instance, if you received 1 coin at a cost of 1 coin = 1 ruble and saved continuously over the course of 5 years, 1 coin would now be worth 10 or more rubles.
Can it be done? — It is indeed feasible! After all, the value of bitcoin has increased more than tenfold! Of course, it depends on the comparison time points. Over 10,000 times, from $5 to $67,000, bitcoin increased.
Typical faucet jobs include:
- play the lottery;
- play games;
- captcha;
- surfing.
a few faucets:
- free bitcoin
- Wedex.app
- Satoshi Hero
- BetFury
- DgiByte
- DigiTask
Arbitrage in cryptocurrencies
Inter-exchange and intra-exchange arbitrage are the two forms of arbitrage.
Inside exchange arbitrage is when you purchase a currency, such as BTC, convert it to LTC, convert it to another currency, convert it back to BTC, but only with a marginal gain. That is, there may be a beneficial cyclical trade in some circumstances.
Inter-exchange arbitrage, or standard hoarding, is the practice of purchasing a cryptocurrency, such as Ethereum, on one exchange and then selling it on another for a little profit.
There are now both paid and free bots that seek for profitable exchange opportunities.
No-investment cryptocurrency games
On games created by the game creators themselves, there are various built-in ways to earn cryptocurrency.
- The 'investment buzz' video games that accept bitcoin payments. I wouldn't argue that they are games per se; rather, this is more of an animated picture website. It resembles earning money by sowing eggs.
I do not advise adopting this strategy because there are many fraudulent websites in this direction on the Internet. Yes, and it is improbable that you will be able to make money without investments, unless your referrals make significant investments in these initiatives. Even then, I'm not convinced that you will be able to make money. Only the projects' authors profit from such endeavors.
MMORPG video games. Some video games let users earn bitcoin. The procedure is straightforward; we gain in-game money. We trade it for cryptocurrencies, then trade cryptocurrencies for actual money.
Some gamers say that the game Ni No Kuni offers them the chance to win up to $5 every day of play.
mining cryptocurrencies
You need to put together a strong mining farm, which may cost more than 100,000 rubles, in order for this strategy to provide truly substantial money.
How much profit does a mining farm make? Normally, the repayment period for a farm is projected to be one year; but, as far as we are aware, the cryptocurrency market is quite unpredictable, and the price of Bitcoin, for instance, might climb immediately, reducing the payback period by two or more... However, there may be times when the payback period lengthens and the price of cryptocurrency drops.
What if the video cards I purchased failed after a month? In this situation, you must return to the store where you bought them to request a replacement or repair a video card malfunction; typically, the cards' warranties last for roughly three years.
- Basic farm collection set:
- Frame;
- Motherboard, processor and RAM;
- Risers for connecting video cards, video cards;
- Power Supply;
- HDD.
What is the potential income from a mining farm? Count
Starting with a rough estimate that assumes maximal market stability (which is virtually impractical), the income per day with an investment of 1,000,000 rubles will be around 2,700 rubles, or 81,000 rubles per month.
The daily profitability of a card like the RTX 3070, which cost roughly $1500 on the testing days, was about $3.6. The monthly yield, minus electricity, was roughly $1,300 when operating 12 of these cards. Net income, including energy, was roughly $1240.
The card with the fundamental parts cost $18,700 in total. If the price of the cryptocurrency stays the same, there will be a 15-month payback period for this farm.
affiliate program
This approach seems to be the least dangerous and safest for your wallet. Almost every website has an affiliate program, which works in a fairly straightforward manner by inviting a particular link via which the user becomes your recommendation and may earn you money.
You may present a variety of relationship options:
Fixed Reward: You receive a set payment, such as $5, for each invited user. However, in order to receive $5, the user must carry out all the requirements outlined in the partnership agreement, such as register, validate their identity, and confirm their phone number.
earned $500 after inviting 100 users.
When your invited user makes or spends a particular amount, you will receive a percentage; the proportion is determined by the partnership agreement and the fulfillment of the criteria. For instance, if your referral refreshes the amount by $10,000, the partnership agreement states that you would get $1500. You receive 15% of each replenishment of your referral.
How can I get my bitcoin back? Best Cryptocurrency Wallets Ranking
When you acquire bitcoin, you must keep it someplace. There are various practical options available for you to select from:
Cold Wallet - Also known as a "Hardware Wallet," this sort of wallet resembles a USB flash drive and can be carried everywhere you go. Of course, such a wallet has high built-in security and is regarded as more dependable for holding cryptocurrency over the long term. Such a wallet may be purchased online.
The best cold wallets are:
- Trezor
- Ledger
- Tangem
- Coinkite
- Keep key
Installing a cryptocurrency desktop wallet on your computer will provide you complete access to your keys and money.
You may store and utilize your own cryptocurrency on specialized websites and online services known as online wallets.
Online wallets to use:
- Cryptopay
- Coinbase
- Crypterium
- matbi
- bitgo
Mobile wallets are specialized phone applications made for storing and using money.
Best mob wallets:
- Trust wallet
- blockchain
- Atomic Wallet
