Top 6 Strategies to Make Money with Cryptocurrency

It’s true that the beginning of 2018 has not been the smoothest for cryptocurrencies. However, despite all the ups and downs, there are still countless opportunities to make money with cryptocurrencies. Here are 6 strategies that can help you earn money by using digital currency in 2018.

Obviously, you can’t just invest in any ICO. In the current market, it’s more important than ever to protect yourself against fraudulent ICOs, which seem to be multiplying like a bad virus.

First, it’s important to invest in a project that is being launched by a team of experienced developers and industry experts. It is also important to find an ICO that offers something new and revolutionary in terms of its benefits. One final tip to successfully invest in an ICO is to see if it will be able to last in the long run or if it has any positive public support.

To determine if a cryptocurrency is being undervalued, one must compare its market cap to its competitors. Then, it still requires a bit more of an in-depth analysis to make sure that the currency is truly undervalued. Once, you are certain, you can then purchase it and store it until it begins to gain value. Check out VeChain’s review.

Hosting is a good strategy for those who are looking for a passive income. It’s another way for investors to “bet” on cryptocurrency, but on a much larger scale. The idea here is to host a network of master nodes.

To do this, one can either configure a server themselves or use a service provider to do it for them. To set up a master node, one must also possess a certain quantity of the cryptocurrency that circulates on that network. For example, for a Dash master node, a user must possess at least 1000 Dash.

Once the network is set up, you will then be rewarded a percentage of the total sum of cryptocurrency that is hosted on your master node. This strategy also offers you the right to vote on decisions or projects that are related to the cryptocurrency in question.

Investors can also make money by analyzing what is currently trending on the internet or being reported in the news. Recently, this has been the case for a couple of cryptocurrencies like the Ripple, DeepBrain Chain (DBC) and Verge (XVG), whose values sky-rocketed overnight after a Tweet by John McAfee who recommended them.

This strategy involves opening a portfolio corresponding to your cryptocurrency of choice and then keeping that currency in it. In other words, you will be putting the portfolio into “stake” mode. This method relies on the POS or Proof of Staking method and allows the network to remain secure and well maintained. Also, you will earn a small percentage of the sum of cryptocurrency help in your account.

This is a strategy that doesn’t involve investing any money into cryptocurrencies. It involves performing actions on the internet and then being reward by some form of cryptocurrency.

For example, with Steem, you can be rewarded for writing interesting blog posts on their social media network, Steemit. With Quandstamp, you can earn free QSPs simply by showing interest in the project and its goal to assure the security of smart contracts.

Kucoin is another altcoin with its own reward system. By simply purchasing Kucoins, you earn free tokens based on the platforms transaction fees.

https://www.interactivecrypto.com/top-6-strategies-to-make-money-with-cryptocurrency-in-2018