Cryptocurrencies like Bitcoin and some other Altcoins has been the best investment asset in this decade. Lots of people that caught the bug earlier has made a lot of fortune out of it, worthy of note is the Winklevoss twins.
However,it is not too late investing in cryptocurrencies. Over the years the adoption of cryptocurrencies like bitcoins have dramatically increased. People now purchase things online and offline with bitcoins, lots of merchants now accepts it as a payment gateway. There are thousands of platforms one can easily change cryptocurrencies to fiat currencies like dollars, pounds sterlings, euros and other local currencies
There are different ways you could make profits from cryptocurrency investment. we would be outlining them below. Don’t fret, even if you are a newbie, some of the methods outlined could be best suited for you.
1: Cryptocurrency Autotrading
You could day trade cryptocurrencies on crypto exchanges just like forex. However this demands a lot of expertise, ranging from strong technical analytic skills, good risk management strategy, good ability to study trade charts and determine when to place a trade and also when to exit the market. These are skills that demands persistence, time and some times mentoring to acquire which most people may not be opportuned to have.
The good news is that, systems(auto-traders or robot softwares) have been created by professionals, some use Artificial Intelligence and Machine learning. With these systems you don’t need to know the nitty gritty of trading. Basically with zero knowledge you can use this system and start making profits from investment.
Below are some of our recommended auto-traders
2: Cryptocurrency Mining
According to Webopedia.com “Cryptocurrency mining, or cryptomining, is a process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger. Also known as cryptocoin mining, altcoin mining, or Bitcoin mining (for the most popular form of cryptocurrency, Bitcoin), cryptocurrency mining has increased both as a topic and activity as cryptocurrency usage itself has grown exponentially in the last few years.
Each time a cryptocurrency transaction is made, a cryptocurrency miner is responsible for ensuring the authenticity of information and updating the blockchain with the transaction. The mining process itself involves competing with other cryptominers to solve complicated mathematical problems with cryptographic hash functions that are associated with a block containing the transaction data.
The first cryptocurrency miner to crack the code is rewarded by being able to authorize the transaction, and in return for the service provided, cryptominers earn small amounts of cryptocurrency of their own. In order to be competitive with other cryptominers, though, a cryptocurrency miner needs a computer with specialized hardware”.
By mining, you can earn cryptocurrency without having to put down money for it. But the major problem is this – setting up a mining rig is not cheap, this could involve hundreds of thousand dollars in investment. The cost of energy consumption is also a huge factor to consider because the mining equipment consumes lots of electricity.
To solve this problem, several people have set up companies where they invest hugely in mining rigs and sell contracts to individuals with little capital. When profits are made, they share the profits among their investors. So this makes people not be restricted by the huge operating cost of mining. That means with any amount you could buy contracts from such companies without doing any other thing on your own part while you share profits made
Below we have listed a legitimate company you can sign up to and start making money from cryptocurrency cloud mining even if you are a newbie.
3. Hold and Sell
This another way of making money from cryptocurrency. You could actually buy for instance, bitcoin when the price is low and store it on a wallet. When the price goes high, you sell of your bitcoin and make profits out of it. Bitcoin is a very volatile cryptocurrency, this feature also makes it a goldmine a wise investor can tap in and make profits of its volatility
Below are crytocurrency exchanges where you could buy bitcoins or other altcoins. Some offer wallet service as well.