5 Ways to Make Huge Money from Cryptocurrency in 2018
There has been a lot of buzz and hype about cryptocurrency lately. This is partly due to the exponential increase in the value of Bitcoin and other cryptocurrencies in recent years. Those who bought these coins at low values have made astronomical profits. But buying and selling of cryptocurrencies is not the only way of making money from them. There are other ways that you can make a lot of money from cryptocurrency. Here are five ways of making huge money from cryptocurrency in 2018.
If you have a powerful computer system with a powerful graphics card, you can mine Bitcoin, Ethereum and other cryptocurrencies with your computer. Mining involves using the computing power of your computer to solve complex problems to verify digital transactions. Cryptocurrency miners get rewarded in cryptocurrency for their mining operations. This is one way you can make a lot of money from cryptocurrency. If you don’t have a powerful computer with a graphics card, you can buy one or build one yourself using components you buy from Newegg, eBay and other sites. There are some miners that have crazy setups with over 30 graphics cards mining cryptocurrency concurrently.
2. Buy coins at low prices and sell when they go high:
This is the method that is adopted by most people. There are people that bought Bitcoin at the time when it was less than $100 for one. But the value increased to over $20,000 for one Bitcoin at a point. These people made huge profits! You can also make huge profits like that. Look for coins that you trust, study them and research about their growth potentials, then buy them. Some people use a hit-and-run approach whereby they buy and sell a few weeks or months later. But others buy for the long run because there are predictions that Bitcoin may even be as high as $100,000 a few years from now.
3. Writing about cryptocurrency:
If you are a good writer, then why don’t you use your skills to earn lots of money. There are websites that will pay you hundreds of dollars for writing articles about cryptocurrencies. You can also self-publish a book about cryptocurrency on Amazon, CreateSpace and other websites and you will make a lot of money. It is a very straightforward process that is easier than you think. You just need to write the book, format it and get someone to design a good eBook cover for you. With the sales of your book, you are guaranteed to earn passive income with cryptocurrencies for life.
4. Blockchain development:
If you are a skilled computer programmer and you have a good knowledge of blockchain technology, you can make money through blockchain development. There are lots of cryptocurrency companies looking for skilled programmers to work on various projects for them. Some of these companies pay a huge amount of money to talented developers.
5. Binary options:
A lot of binary option trading sites now offer cryptocurrency speculations. You can predict if the price of Bitcoin will rise or fall over a certain period of time. If the price rises or falls within that period, you will receive the payout agreed upon. But if it does not occur, you will lose your investment. You can invest as much as you wish in this and make a lot of money.
With these methods above, you can make huge amounts of money from cryptocurrency in 2018. But you must be aware that cryptocurrencies are highly volatile. Their values can increase and decrease anytime. As with other investments, do not rush into anything. Take your time and make your analysis before making investments.