The cryptocurrency market has a wide range of options that allow investors to earn passive or regular income. The market is plush with tokens and firms that will enable borrowing, lending, or staking cryptos for interest. Therefore, investors earn income apart from the regular investments they initiate through trading via exchanges and DEX platforms. This article will guide you on the five convenient ways to make money with cryptocurrency.
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How to Make Money with Cryptocurrency
- Staking Cryptos
Many tokens allow staking cryptos for a set period, and you can earn interest on the cryptos staked or earn additional cryptos for the number of staked tokens. For example, if you stake 10,000 coins a year or more, you earn around 1000 coins each month. The more coins you stake, the higher the number of coins you will make in return every month.
On the other hand, you can also earn interest on the cryptos that you stake. Several tokens promise between 10% to 30% yearly returns on staked cryptos. This brings additional revenue as staking helps grow your portfolio or earn interest on the cryptos you’ve purchased. This way, you can make money with your cryptocurrency.
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2. Lending Cryptos
Lending cryptos is another way of earning interest from your invested tokens. You can lend your cryptos to an array of trusted firms, and the firms invest your tokens into other projects. The borrowed tokens can help scale up existing projects and deliver profits. The firms you lent your cryptos will then give you your share of interest monthly or yearly.
Therefore, lending your cryptos will not only make you hold on to the long term, but your cryptos will also work towards making additional income. This option helps you to make money with cryptocurrency.
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3. Crypto Mining
Mining is another way of earning cryptos but needs constant focus, patience, and hard work. When you mine crypto on your GPU, you will be rewarded with a coin or coins with no transaction fees. Kindly note that mining is a high-risk, high-reward work as not everyone can experience profits. Mining crypto consumes high electricity and requires a top-end GPU to handle the constant flow of mining.
The investment in a GPU and the ability to pay off high electricity bills are required to be a miner. However, this is not everyone’s cup of tea as your hands will be full, and you will find no time for other businesses.
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