CAN I MAKE MONEY WITH CRYPTOCURRENCY ?

CAN I MAKE MONEY WITH CRYPTOCURRENCY ? 

I’m sure this question has popped up in your mind countless of times. Especially if you’ve developed an interest in the crypto space

As long as you’re part of CryptoHood’s community, you will always have answers to all of your crypto-related questions 

The answer to this question is Yes, you can make money with Cryptocurrency.. 

One of our goals at cryptohood is to raise a million millionaires through crypto investing and trading. 

Everyone gets into the crypto space to make money but the truth is, many end up loosing money

 because they do not properly understand what they get into,

The good news is that with a good domain knowledge and expertise which cryptohood is well vested in, you sure will make money with Cryptocurrency. 

Let's quickly look at this 6 ways you can make money with Cryptocurrency 

1. Buy and HODL(hold) 

HODLing coins is most likely the easiest way of earning money from Cryptocurrencies. This strategy requires a lot of Patience because you might have to deal with a lot of price fluctuations and you also need to do a lot research to discover great coins that would yield profits. In simple terms, to earn with this strategy, you buy when the prices are low and sell when its high

2. Staking 

This can be combined with the holding method. It's also an easy way to earn in the crypto space, all you need to do is to lock the number of coins for a stake in a wallet for a certain period, you also have to note that not every coin can be staked, only Cryptocurrencies that generates new block through the  Proof-of-Stake Algorithm can be staked, A coin like Harmony(ONE) and others.. You receive a certain amount of interest when you stake

3. Lending 

This is also a good way to earn money for those who are holding. You play the role of a bank, you lend your coin to others at certain level of interest. This requires extra carefulness because you have to choose only Proven lending platforms to avoid any issues 

4. Day Trading 

This simply means puting in extra work by buying and selling Cryptocurrencies same day. This strategy fits those  who have experience in trading or good knowledge of crypto. 

This method is time consuming because the traders needs to have the proper Analytical and Technical skills to analyze market charts on the performance of the assets they will trade.

5.Mining 

Mining is the process by which new coins are created. It needs certain computer programs and utilizes the processing power of a miner's computer. Mining cant be really pointed out as an easy way of making money in crypto. Earlier, bitcoin miners could make a really large fortune with less expenditure, but nowadays Bitcoin mining is much harder and expensive. 

6. Creating Cryptocurrency content/ Work for Cryptocurrency companies :

If you are have a good knowledge of Cryptocurrencies or possess other skills such as digital marketing, finance, management, content creation etc. You can pick up a job with a Cryptocurrency company or community. All you need to do is to identify the needs of the company or community you want to work for and show how your skills can help solve a problem. 

There are so many other ways to earn in the crypto sphere and the good news is we at Cryptohood are always prepared to make your crypto journey worth it.