Three Different Ways You Can Make Money from Cryptocurrencies
Ido Fishman thinks it is disappointing that a lot of new traders are not aware of the many ways they can make money from cryptocurrencies. “A lot of these traders are young and they just want blindly make money. They don’t even look into the many ways they can make money from cryptocurrencies” says Ido Fishman.
Yes, trading is a great way to make gains from this market, but there are other ways available too. Let’s take a look at some of those methods so you can pick the one that you think will be best for you.
Of course, you can’t ignore this method, as it remains the most common and famous one for most traders to make money. You can make money by trading cryptocurrencies on exchanges or you can go with the broker option. When you sign up with a broker, you usually trade ETFs or CFDs by predicting the prices of the assets. In other words, you are not trading the crypto asset itself, but you can make money by correctly predicting its price.
This is one of the unique options that a lot of online crypto traders have no idea about. However, it is a great option and lets you make money without putting anything at risk. “You will find specialty online crypto trading platforms that offer you the option for crypto lending. So, if you have some cryptocurrencies, you can transfer them to your online trading account and earn profit based on a specified return plan”.
Do you want to help in the production of more cryptocurrencies? You can do that through crypto staking. In this method, you put some of your crypto units at stake for the mining of new units of the currency. When the process completes successfully, you get a reward in the form of more units of the mined cryptocurrency.
So, if you are thinking of becoming a crypto trader, you know there are more routes for you to take than you initially thought. Some of these routes are less risky than the others.