In 2022, there will be thousands of different cryptocurrencies all competing to become the mainstay medium of exchange around the world. Some have already been quietly growing in popularity, while others have just been released and are trying to find their way into the limelight. One thing’s for sure though – cryptocurrencies are here to stay, and they’re worth looking into if you want to make money with cryptocurrency in 2022. Here are some of the top 10 ways to make money with cryptocurrency in 2022…
1) Invest In Bitcoin (BTC)
Bitcoin is by far one of the best investments you can make right now. We’re currently in an era where tech is booming. And it looks like cryptocurrencies are set to gain more popularity than ever before. This means that now could be a good time to invest. Of course, you should never invest what you can’t afford to lose. But if we look at it from a financial perspective. We might as well jump on board and reap some benefits for years to come
2) Invest In Altcoins (XRP, XLM, XEM)
An obvious move for investors seeking to capitalize on cryptocurrency. However, with so many different currencies and new projects emerging regularly. It’s critical that you research each one thoroughly before deciding which is best for your portfolio. Check out our guide to choosing altcoins if you need some help here.
3) Mining Altcoins
For those unfamiliar with altcoins, it’s short for alternative coins or alternative cryptocurrencies. Basically, they are any digital currencies that aren’t Bitcoin. These include Litecoin, Dash, Ethereum, and even Dogecoin (the infamous joke coin). They are all accessible through online marketplaces like Coinbase and LocalBitcoins. Mining altcoins is an easy way to accumulate cryptocurrency without having to buy them. Simply purchase some basic computer hardware and then download a miner program onto your PC or laptop. You can then start mining altcoins while using it as you normally would if it were just a regular computer.
4) Trade Altcoins for BTC
Day-trading altcoins can be a lucrative strategy to generate income from your coins. By recognizing patterns and price behaviors, you can strategically trade Bitcoin for other cryptocurrencies with minimal risk. The most popular Altcoins are Ethereum, NEO, Litecoin, Monero, and Dash but there are many others to choose from. I suggest researching these coins individually before creating a strategy based on them as they each behave differently. There is also an Altcoin discussion group on Telegram where you can discuss your trading strategies
5) Lend Your Bitcoin/Altcoin On Exchanges
A great way to earn passive income with your coins is by lending them out to people who want to borrow. Exchanges like BitBond and BTCPOP let you lend money to other users who are willing to pay an interest rate on top of their principal amount.
6) Day Trading Cryptocurrencies
Day trading cryptocurrency, or day trading for short, is buying and selling cryptocurrencies within a 24-hour period. In many cases, you’ll want to simply buy or sell a cryptocurrency but there are other reasons to day trade as well. For example, if you believe that a particular currency will go up or down against another over a set period of time (say 5 hours), it’s possible to trade ahead of that move and take advantage of an exchange rate you expect to be valuable by reselling on another exchange at an advantageous price after your first purchase has settled. Think of it like playing with play money. You need to be aware of prices moving against you while still staying profitable if they move in your favor
7) Use Crypto To Play Games
If you enjoy video games, there are plenty of opportunities to earn extra money through them. One of these is by using a cryptocurrency called Enjin Coin (ENJ). This currency is used to make purchases and trades within certain gaming environments. In addition, gamers are able to host servers where other players can play for free or for a set fee using ENJ.
8) Crypto Airdrop
If you’re familiar with cryptocurrency and investing, then you already know that ICOs have become a popular way to get a piece of upcoming cryptocurrencies. In case you aren’t familiar with ICOs, here’s how they work A company announces an ICO, which stands for Initial Coin Offering. This is similar to an IPO (Initial Public Offering), except instead of offering shares in their company, companies offer digital coins or tokens. You can buy these coins or tokens using either fiat currency (like USD) or other cryptocurrencies like Bitcoin or Ethereum. While you may be used to earning points from doing surveys or shopping online, there are also several ways to earn money through cryptocurrency without actually buying any. The most common way is through airdrops.
Some Companies Give Away Free Crypto Coins: Some companies give away free crypto coins as part of marketing campaigns – it’s not unheard of for some blockchain startups to give away $10 worth of crypto just for signing up on their website!
9) Blogging On Cryptocurrency Websites
The cryptocurrency blogging niche is growing steadily and there are several websites on which you can write about. Check out sites like Hacked, CoinTelegraph, Bitcoin Magazine, and NewsBTC for some examples. An important tip to keep in mind is that if you want to succeed as a cryptocurrency blogger or writer, you need to build a strong reputation for yourself and become an authority figure so people will want to read your content. It’s never easy but it’s one of those things that must be done if you want to make serious money from blogging about cryptocurrencies.
10) Mining Cryptocurrencies
If you can mine for cryptocurrency, then it’s likely you can make money with it, too. There are different ways to mine: cloud mining, P2P mining, and solo mining. Cloud mining involves purchasing a contract from a company that will allow you to use their hardware for crypto-mining. This is an easy way to get started without having your own equipment, but be wary of scams when choosing a provider. Solo mining requires setting up your own rig or using one that belongs to someone else—it’s more work than buying a contract but potentially more profitable if you have cheap electricity or access to free hardware. Lastly, P2P (peer-to-peer) mining allows users on platforms like NiceHash and MinerGate to pool their resources together and share profits between participants based on how much work they contributed toward solving a block.