Cryptocurrencies are a fast-growing digital asset. It’s not only a good way to send/receive money globally but also has a good ROI potential for crypto investors, as we have seen in the last few years or so. Contrary to the popular belief, trading isn’t the only way to earn with cryptocurrencies.
Why avoid crypto trading
Cryptocurrency trading isn’t for everyone. Trading involves buying and selling tokens to earn quick profits from the price difference. It involves huge risk since cryptocurrency is a highly volatile asset.
If you want to make money with cryptocurrencies but are not ready for the risk of trading, there are many other better, safer ways to do that.
Making money with crypto is easy. Here’s how.
Some of the best ways to generate passive income with cryptocurrency are as follows:
HODLing is equal to holding and refers to the process of buying and holding a cryptocurrency for a considerable period with the hope to get good returns when you sell it later. Crypto HODLing has many benefits. You can the benefit of compounding and the asset value grow with time. Second, long-term investing is the best way to mitigate risk, which is very important in the crypto space.
When buying a cryptocurrency to HODL, choose one with a high potential to grow. Libra Coin, for instance, is a powerful utility token backed by the Libra e-commerce system and has already doubled in value within just one year of launch.
Staking is similar to mining, except you don’t have to actually mine cryptocurrencies. In staking, uses are rewarded with free tokens for simply holding their coins in the smart contract of a particular blockchain. In a way, you earn recurring interest for buying and holding tokens. Staking has the benefits of both value appreciation with time and recurring income.
P2P lending is another great way to make money with your crypto holdings. It works the same as traditional lending. You find an investor and lend your tokens to them for a predefined period, in exchange for which you earn a fixed interest over the period, along with your cryptocurrency back after the period ends. However, there are many fraudulent actors in the crypto space, so be very careful when lending your crypto to some stranger.
There are reliable crypto lending platforms such as Binance, BlockFi, Nexo, Zebpay, etc. that you can look into when looking to earn money by lending cryptocurrencies.
Crypto mining refers to the activity of mining new cryptocurrencies. This is the core and one of the popular ways to earn with crypto. In order to mine cryptocurrencies, you need to have the right tools, including a powerful computing machine and a stable energy source, along with the knowledge of how mining works. Read tutorials to know more about crypto mining and how to get started. Mining pools are great to start with for newbies, as they cost less and have better return potential.
If you are looking to earn more with cryptocurrencies, do join and invest in Libra Coin now: https://libraecosystem.com/