So Where or In what Do I invest? CRYPTOCURRENCY
So, How the Heck Does the Fugitive From the
Employment World Make Money Online in Africa?
Having worked the 8 to 5 rollercoaster for years
and then sucking my boss, I sought to learn how to
make money online so I would be my own boss.
First, I did freelancing on top sites like Odesk.com which is now Upwork.com after a rebrand, Fiverr.com, Elance.com and a number of others. I was making more than double the amount of money my employer paid each month but I did this from the confines of my home working 8 hours a day.
Truth be told, the start was tough that I had to do more praying than working so that God guides me henceforth. But, in the interim, I never had any regrets for sucking my boss. So I came across a number of sites promising very good returns on investment and almost became a victim of WYSIWYG. However, the offers from these sites were too good to be believed and I deemed it prudent to tread carefully. As such, I sought ways and means of learning more about online marketing.
Once I discovered the tricks of making money online through
investing, I quit freelancing. Today, I invest online and my daily work is
all about managing the various businesses on the sites where I
invested. True, a lot needs to be learnt if one is a newbie but once
you get in touch with guys who are already established, things
will be a lot simpler. I started by investing in stocks and biz opps but later
discovered cryptocurrencies and never looked back!
Top Ways to earn money from Cryptocurrencies
1. Buying & HODLing
One safe way to earn money in cryptoland is to buy good cryptocurrencies that have a fundamental usecase and hold them until they obtain a fair market share. For example, cryptocurrencies like:
…are safe buys most of the times. You can buy and hold them for a longer term because they are bound to appreciate against the fiat pairs of USD, EUR etc. Also, you can earn some bitcoin with a one time investment of only $25. You can earn as much as $100,000 from that one time investment. Above all you do not need to recruit. Take your time and visit btcdailypay.
2. Buying & Holding Cryptocurrencies For Dividends
Another smart way of earning through cryptocurrencies is to buy and hold cryptocurrencies that pay you dividends. There are many some great cryptocurrencies that pay you a fair share just for holding them and you are not even required to stake them, especially in a wallet. Some of these cryptocurrencies are:
3. Staking Cryptocurrencies
I personally like this way of earning because you get the dual benefit of price appreciation for holding good cryptocoins plus the additional reward as dividends for staking the coins. Staking is basically holding cryptcoins 24*7 in a live wallet, hence earning new additional coins as a reward for staking and securing the blockchain network. Some noteworthy coins in this segment are:
4. Masternodes
Running masternodes of cryptocurrencies to earn smart passive income is also one way of earning in the cryptosphere. A masternode is simply a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real-time, just like your have Bitcoin full nodes, and is always up and running to perform certain tasks.
For performing such tasks, different cryptocurrency networks pay the masternode owners. However, for running a masternode you must have a minimum number of coins to get started. The minimum amount to get started with a masternode is different for all the cryptocurrencies but it is usually in the range of 1000 to 25000 coins.
Some proof of stake currencies that have the masternode functionality are:
5. Microtasks For Cryptocurrencies
If you have extra time on your hands, you can do some microtasks for somebody or some service and earn cryptocurrencies in exchange. These microtasks can be something like downloading new apps for testing, watching videos, doing online surveys etc. Some services that provide you such microtasks are:
These services pay you in different coins like Bitcoin, Dogecoin etc.
6. Day Trading Cryptocurrencies
If you understand and are good at technical charting at various intervals in the day, this method of earning is for you. You can day trade different cryptocurrencies on various exchanges such as these:
The idea is simple – buy low and sell high when you target is reached. This method works very well for a technical charting person because crypto, being a volatile market, can fluctuate 20-50% in a day depending on the choices you make.
7. Work For Cryptocurrencies
This is an apt way of earning through cryptocurrencies. If you are a developer or a tester, a writer or a designer, you can start earning in cryptocurrencies right away by exchanging your services for it.
There are numerous platforms and websites that offer you Bitcoins in exchange for your service, some of which are:
This way you not only earn cryptocurrencies but also benefit from the price appreciation that cryptocurrencies, on the whole, are witnessing over the past few years. You can start by working for these cryptocurrencies in my opinion:
8. Accept Cryptocurrencies If You Are A Merchant
Another way to earn cryptos is accepting them in exchange for your products or services if you are a merchant. As a merchant, you have access to many cryptocurrencies and Bitcoin payment processors that can help you in accepting cryptocurrencies.
Even online businesses owners and e-commerce websites can adopt this way, thereby getting the dual benefit of crypto price appreciation and also earning cryptos directly.
8. Cryptocurrency Arbitrage
As we all know, the cryptocurrency market is a free market that is beyond the government’s control, which is why we have a lot of price difference across different exchanges and also the volatility.
Another way of earning in the cryptosphere is to buy a certain cryptocurrency from one exchange which is being sold on a lower price compared to another exchange, thereby creating an opportunity to buy low and sell high on another exchange to earn a good cut in between. This is called arbitrage.
You will usually find 5% to 40% of spread if you know how to make use of it. Exchanges like Bittrex and Poloniex provide such opportunities more often.
9. Blogging On Cryptocurrency Websites
You can earn money by blogging and writing on websites that pay you in cryptocurrencies if your content is liked by the readers. Also, if you already know that your content is valuable, you can even directly monetize your content for cryptocurrencies for giving the full access of content to the respective reader. Some of these websites are:
10. Cryptocurrency Faucets
Another easy way to start earning quick Bitcoins is through cryptocurrency and Bitcoin faucets.
For those of you who don’t know what Bitcoin faucets are:
Bitcoin faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website. There are also faucets that dispense alternative cryptocurrencies.
These faucets have you do menial tasks such as solving captchas, playing games, clicking on ads, or watching videos. For each task you do, you earn a small amount of Bitcoin.
However, this way of earning isn’t really an option for people who are already involved in hectic, full-time jobs. That is why I have kept this option at the bottom of the list.
11. Lending Cryptocurrencies
Following the popular saying “You should put your money to work” is another way to earn in this space.
If you are already HODLing Bitcoin or Ethereum, you can put your money to work and earn some profit on it by lending it out. There are many peer-to-peer Bitcoin lending platforms that allow you to do this while giving you a decent 12%-18% return on your investment in form of Bitcoins.
A word of caution: This space of lending is highly unregulated, so choose the person who you lend your Bitcoin to diligently and strictly adhere to the platform policies to make sure you get your returns. Slow, but steady, more regulated players are evolving in this space like the SALT Lending platform. It is, however, too early to comment on them.
12. Mining Cryptocurrencies
Cryptocurrency mining is another good way to make money in the cryptosphere. This option, however, does not seem too lucrative to us yet and that is why it is the last one on the list.
But it doesn’t mean that this method doesn’t work. Sure it does, if you are ready to make initial investments for buying mining equipment like ASIC and GPUs plus the additional supporting hardware.
Also, to successfully mine and earn from cryptocurrencies, you should have access to cheap electricity to run this mining equipment along with the technical know-how of how to take care of the software and hardware mining stuff.
These days mining has become a very competitive task that requires good initial investment to start with, and that’s why we are not particularly interested in this method.
Make Money With Bitcoin & Cryptocurrencies
That is all from my side. But before I go, I want to address one thing:
There are a lot of scams and illegal MLMs going on out there that promise you high returns like Onecoin, Fintegri and the line. My recommendation would be to not get involved with these schemes because they are not worth the time if you want to earn legally. Another recent example was the Bitconnect MLM scheme that came down crashing in one day.
I will be back soon with some more secure and legit ways of earning from cryptocurrencies. Until then, stay tuned to this blog and TAKE CARE!
If you like this article, share it with your friends & family on Facebook & Twitter!
