crypto for beginners

The development of the crypto-industry allows you to choose a convenient way to profit from working with digital coins today. In most cases, it requires certain knowledge and start-up capital

In mid-April, the main cryptocurrency reached an all-time high of $64.3 thousand. Over the past two months, the digital coin has fallen in price by 37%.

The largest by capitalization altcoin – Ethereum increased by 238% since January 2021. Its price went up to $4.3 thousand in April (482% growth), and then switched to decline. Now altcoin is trading at $2,500.

Such profitability allowed holders of digital coins to increase their capital several times. It was enough to buy cryptocurrency and hold it. We tell you the main ways to make a profit in the sphere of digital assets, even for beginners.

Investing

Buying digital coins to hold them for the long term is considered a classic way to make money, which does not require deep involvement in the market and is completely passive. The main feature of this method is its long term nature.

Cryptocurrency shows high returns over a long period of time. For example, when buying bitcoin in January of this year, it was possible to get a return of 40%. But, if the main cryptocurrency was bought last June, the return on investment would be 335%. Buying bitcoin in June 2016 would have yielded the investor 6919%. However, it should be kept in mind that the previous growth does not guarantee a future rise in the asset’s price.

When investing in digital assets for the long term, it is necessary to stick to a trading strategy, not reacting to short-term rate changes. It is also necessary to ensure the safety of your investments. For this purpose, it is recommended to use a hardware (cold) wallet and store it, as well as the seed-phrase in a safe place.

Seed-phrase is a set of random 12,18 or 24 English words, which is used to restore a cryptocurrency wallet.

Online gambling

Online gambling is one of the fastest and enjoyable ways to start earning on cryptocurrencies today.  Seasoned gamblers managed to turn their hobby into a source of stable and solid income. Playing at a Bitcoin casino online opens superb prospects to get rich on your winnings in cryptocurrency. The best part is that players don’t need to go anywhere to gamble. They can do it, enjoying the comfort of their place from a home-based PC or mobile device.

There are tons of high-rewarding and fascinating BTC games that players may try at Bitcoin casinos. If you are a fan of logic games to tease your brain, crypto Poker is just what you need. Those who tend to the more relaxing activities may try their luck in Roulette for Bitcoins. Another option to multiply your crypto earnings is to play BTC slots. Select titles with a generous RTP rate. There are also many top-notch Bitcoin slots with lavish jackpot pools that can make you an instant millionaire in one spin.

If you want to start earning on crypto gambling, keep in mind to choose only reputable casinos. A license from a respectful jurisdiction is the first hallmark that identifies a top Bitcoin casino. Another nuance to look at when making a site choice is the diversity of BTC games in the lobby and qualified 24/7 customer support.

The brilliance of crypto gambling is total anonymity and zero commission to banks. Thus, you can keep all your Bitcoin winnings in the full amount. Just gamble wisely and manage your bankroll.

Airdrop

For those who do not want to invest their own money, but want to get cryptocurrency, there is a way to earn money from giveaways and performing various tasks. There are services that pay in digital coins for simple actions, such as installing a mobile app on your device or subscribing to social networks.

For example, the browser Brave pays cryptocurrency for viewing ads, and the social network Steemit rewards users with digital coins for activity: views, likes, reposts and comments.

Airdrop are free token giveaways conducted by cryptoprojects to attract new audiences. For example, the developers of the decentralized exchange Uniswap already gave away 400 tokens to new users. In order to do so, it was necessary to make any transaction on their platform. At the time of distribution, the value of 400 tokens was about $1.3 thousand. Now these digital coins are worth $9.3 thousand (yield 615%).

The most active users have received from 95 thousand to 245 thousand coins. At the rate of the asset at the time it was from $250 thousand to $750 thousand. About 50 more people received from 10 thousand to 95 thousand coins, that is $25-250 thousand.

A free token giveaway was held last December by the decentralized crypto exchange 1inch. One user took the reward of 9.75 million tokens, which at the rate at the time was more than $25 million. 3 other users received from 1.21 to 1.34 million 1inch – that is from $3 million to $3.35 million. 37 traders withdrew from the purse reward from 100 thousand to 700 thousand coins – from $250 thousand to $1.75 million. The reward of $25 thousand – $250 thousand in cryptocurrency project received 190 people.

Stacking

Stacking is a method of passive earning in which users store coins on the Proof-of-Stake (PoS) algorithm and ensure that the blockchain works. This entitles them to receive rewards. Stacking does not require additional equipment or large computing power like mining.

Stacking requires buying cryptocurrency and freezing it in a special wallet. The yield in this case will average from 1% to 20% per annum. For example, cryptocurrency exchange Binance now offers stacking of its domestic token with a yield of 8.4%. Stacking could be a complement to investing. However, one should also consider the risk that the value of tokens involved in stacking will decrease. In such a case, there is a chance of losing your savings.

To start stacking, it is necessary to learn how the PoS algorithm works, as well as to get acquainted with the available offers on the market. For example, cryptocurrency exchange Binance offers stacking and other tokens such as Ethereum, Tether (USDT) and Chainlink.

Ethereum plans to switch to the Proof-of-Stake algorithm by the end of 2021 as part of its blockchain upgrade to version 2.0. This will allow altcoin holders to lock their digital coins to keep the network running and be rewarded for doing so.

 

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