14/10/2022
WAYS TO MAKE MONEY IN CRYPTO
Crypto, just like every other industry, has different ways in which its explorers can make money.
This article will highlight some of these ways:
1. Crypto investing: (buying and HODLing). This involves buying cryptocurrencies and holding on to them for a long period of time in order to
sell off when their prices increase.
2. Crypto trading: this involves buying & selling cryprocurrencies within a short period of time. This involves making profits from the short-term increase in the prices of different cryptocurrencies.
3. Crypto staking: this involves locking up one's assets for a specified period of time and earning crypto rewards for it which you can sell off for money.
4. Crypto lending: this is a DeFi function which enables users to lend crypto to a platform and get rewarded for it in form of interests (which can be sold off for money).
5. Crypto mining & validating: this involves working at the backend of blockchains to help validate transactions and maintain security. Miners & validators get rewarded with native tokens which they can sell off for money.
6. Airdropping: this involves performing some tasks in order to earn free crypto which you can sell off later in the future.
7. Affiliate programs: this involves referring friends to use a crypto platform and getting rewarded for your referrals. Different crypto exchanges like Binance, OKX, etc have affiliate programs.
8. NFT flipping: this involves minting NFTS for a cheaper price and selling for a higher price (flipping).