The crypto economy has evolved significantly since Satoshi first introduced the world to Bitcoin. Just ten years ago, it seemed that the only way to earn some Bitcoin was to mine, mine, mine. While mining remains a popular option today and will be featured in this article, there is now an abundance of methods available to anybody that wants to earn tokens for nearly all digital currencies. Unfortunately, you can no longer earn ten thousand Bitcoin for delivering a pizza, but there are alternatives that may prove just as successful in ten years’ time. This article will detail how to earn Bitcoin online, as well as how to earn cryptocurrency online in general.
Trading
Trading can be one of the most lucrative ways to earn cryptocurrency. If you select the right digital currencies to trade and get in and out at the right times, there is no limit to how much money you can make. Many crypto traders have become millionaires by simply playing the market. However, in the options available for earning crypto, trading carries the most risk. There are countless stories of inexperienced traders making poorly thought out trades and losing their life savings. One way to minimize the risks presented by trading is to employ a strategy known as scalping. Scalpers buy a token and then quickly sell in order to realize a small profit (typically 1%-2%). Scalping is not for everybody, as it requires patience, dedication, and continuous monitoring of the market.
One other aspect to consider when trading crypto is fees. Platforms like BINANCE and COINBASE Pro offer minimal fees (between .1% and .5% depending on your trade volume). However, these platforms offer advanced tools that may overwhelm a new trader. Other exchanges, such as Coinbase’s standard platform, offer a seamless user interface and make trading easy. But such ease comes at a price, as fees are typically in the 1%-2% range, 10x greater than other options in the market. If you do opt to trade on a platform such as Coinbase, be sure to switch to a more advanced platform quickly or you may rack up too many fees to engage in profitable trading. ChangeNOW is another exchange you should consider for trading, as it boasts some of the lowest fees on the market and an easy-to-use interface with no registration information required. Overall, trading is a great option for those who can tolerate risk, but for the more risk-averse, the alternatives below may be most appropriate.
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