The cryptocurrency market has a wide variety of options that allow investors to earn passive or regular income. The market is luscious with tokens and companies that allow the borrowing, lending or lending of cryptos for interest. Therefore, investors earn income in addition to the regular investments they make by trading through exchanges and DEX platforms. This article will guide you through the five useful ways to make money with cryptocurrency.
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How to make money with cryptocurrencies
- Betting cryptos
Many tokens allow staking cryptos for a certain period of time, and you can earn interest on the cryptos wager or earn additional cryptos for the number of tokens wagered. For example, if you wager 10,000 coins per year or more, you will earn about 1000 coins each month. The more coins you wager, the higher the number of coins you get back each month.
On the other hand, you can also earn interest on the cryptos you bet. Several tokens promise between 10% and 30% returns on cryptos wagered annually. This provides additional income as staking helps to grow your portfolio or earn interest on the cryptos you have purchased. This way you can earn money with your cryptocurrency.
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2. Lending Cryptos
Crypto lending is another way to earn interest from your invested tokens. You can lend your cryptos to a range of trusted companies and the companies invest your tokens in other projects. The borrowed tokens can help scale existing projects and make a profit. The companies that lent you your cryptos will then give you your interest share on a monthly or annual basis.
So, lending your cryptos will not only make you stick in the long run, but your cryptos will also work towards earning additional income. This option helps you to make money with cryptocurrency.
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3. Crypto Mining
Mining is another way to earn cryptos, but it requires constant focus, patience and hard work. When you mine crypto on your GPU, you are rewarded with a coin or coins with no transaction fees. Keep in mind that mining is a high risk, high reward work as not everyone can make a profit. Mining crypto consumes a lot of electricity and requires a high-performance 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. This isn’t everyone’s cup of tea, though, as your hands will be full and you won’t find time for anything else.
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