Cryptocurrencies are virtual currencies that work on the paradigm of the highly-secured, transparent, and immutable technology, the blockchain.
The industry came into existence with the launch of its first offering, Bitcoin in 2009. Paypal, known as the most used method of transaction in the world, was founded in 1998.
TranzactInvest is one of the trusted bitcoin/cryptocurrency investment sites to grow and double your cryptocurrency within a short time.
Ever since then, the crypto has evolved and advanced in multiple surprising ways. However, despite global popularity, cryptocurrencies have not become mainstream and a majority of people still do not know how to turn their crypto investments into a profitable venture.
But don’t worry, this article will explore the various ways in which you can put your crypto assets on the working roller and reap in the maximum benefits. All you need to get started is a bitcoin wallet or crypto wallet.
Seven Most Promising Ways to Double Your Income With Cryptocurrency
1.) Invest with an Investment Site: Investing in bitcoin and cryptocurrency in general is all the rave of the moment. But how exactly does a beginner get started? Do you need to already have cryptocurrency to invest? Or do you transfer money from your bank account to somewhere and convert it to Bitcoin? What does that look like? We will answer all of these questions and list option available for investing in bitcoin and cryptocurrency.
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Investing in bitcoin and cryptocurrency in general is not much different from investing in stocks. With cryptocurrency, you need to open an account with an exchange. With stocks, you open an account with a brokerage. Then you deposit funds. The only difference with investing in cryptocurrency is that you have to purchase cryptocurrency, first using deposited funds, before you can trade cryptocurrency. Although, your initial purchase of cryptocurrency is your first opening trade.
2.) Mining Bitcoin and Cryptocurrency: You cannot be addressed as a crypto lover if you do not know the importance of Bitcoin mining in the world of virtual currencies. It is a technical process that involves solving complex mathematical algorithms using a high-end computer while competing with other crypto miners to receive crypto coins as rewards.
The cryptocurrency transactions are verified and added to the blockchain using mining. The user needs to have a lot of technical knowledge about the process and should be in possession of the right hardware equipment like ASIC, GPUs, and many other supporting tools.
3.) Investing in ICOs and STOs: Initial Coin Offerings (ICO) and Security Token Offerings are also an inevitable part of the crypto world that can pool in some good money for your wallets. New crypto coin projects launch their ICOs to collect money and earn support from the investors and biggies of the crypto world similar to a bitcoin system review.
During an ICO, the firm allows investors to purchase tokens, which can be later traded, sold, or held by them. However, the security tokens work as financial securities that are pegged by tangible assets, profits, or the revenue of the launching company. Though both ICOs and STOs can be a good option to catch extra earnings, it is also important to be vigilant while making choices.
The market witnesses the entry of new projects promising lucrative returns, every day. Thus, it becomes the duty of the investor to scrutinize the whitepaper of the firm, collect information about the development team members, assess the short and long-term goals, and also the roadmap to be perceived by the firm in achieving these goals before investing funds on a project.
4.) Buying and HODLing: HODL was a typo which has now, surprisingly, became a humorous backronym suggesting “Hold on for dear life.” In simple words, it refers to the situation where a person has full faith that their crypto coin will certainly have a profitable value in the near future, if not today. Investing in cryptocurrencies with the core purpose of hodling them is one of the most popular means adopted by people to earn money.
The most popular crypto coins used for this purpose involve Bitcoin, Ethereum, Ripple (XRP), Tezos, Monero, etc. To take the maximum advantage of hodling, one needs to have a strong grip on making wild near-about accurate speculations about the coin, market conditions, and risk-bearing capacity as the industry is highly dynamic and things can turn anytime without any warning. So, make sure you have a lot of patience before deciding to hodl assets.
5.) Blogging on Cryptocurrency Websites: Blogging can turn out to be an important way through which you can earn some good profits in cryptocurrencies. These blogging platforms allow users to share their insights on the future price value, fluctuations, and market trends related to leading crypto coins and tokens. The bloggers are paid in cryptocurrencies by these blogging portals if their content is liked by the audience.
If the blogger knows that his/her content is valuable, then he/she can directly monetize their content for cryptocurrencies for giving full access to matter to the concerned reader. Some of the leading crypto blogging platforms are Y’alls, Steemit, Yours, etc.
6.) Masternodes: Masternode is addressed as an alternative process to crypto mining. It serves as a computer wallet or a full crypto node which lends support to the entire network by storing the full copy of the asset’s ledger in real-time. In lieu of its service, the masternode is rewarded via cryptocurrencies.
7.) Staking Cryptocurrencies: In simple terms, staking refers to holding your crypto assets in your live crypto wallet for a fixed period as decided by the staking organizer, with an intention to earn interest on them. The reward volume is directly related to the period for which the asset is held during the staking process. It offers a double benefit to the investors as they enjoy price apprehension for holding profitable coins and also earn rewards as dividends for staking.
Why Investing in Bitcoin and Cryptocurrency is a Smart Choice
Cryptocurrencies can be used in multiple ways for generating incomes just like any other traditional financial source. They are secured, transparent, and are simple to operate as they do not involve complicated procedural requirements.
All one needs is some high-end knowledge about crypto markets, price fluctuations of coins, market trends, and important crypto investment pedagogies that can be gain from Crypto News. So, don’t wait, pull up your sucks, and delve yourself into the world of cryptocurrencies.
Trusted Bitcoin Investment Sites in UK
Since the introduction of GBP deposits via a Faster Payments, Coinbase Pro has been one of the cheapest ways to buy bitcoin in the UK with a UK bank transfer. Coinbase was the first major bitcoin exchange which was granted an e-money license. This was a big deal at the time, as no other (major) cryptocurrency exchange used to offer GBP deposits via Faster Payments. It means that you can make a simple UK bank transfer to deposit GBP into Coinbase.
The Verdict:
- You can now send GBP to Coinbase and it’ll be credited within minutes.
- You’ll be able to buy bitcoin at the best possible rate and without incurring high fees (just 0.5%).
There’s only one catch. If you’ve never used a cryptocurrency exchange before, it might be a little intimidating. If you want more details about this, check out my guide to buying bitcoin in the UK. Do you want to make money with cryptocurrency? You can make any amount of money trading bitcoin and other digital assets.
In addition to this, cryptocurrency offers you other opportunities/methods of making money, apart from buying and selling on crypto exchange or buying and holding your digital coins as a long term investment. Other avenues include; working for a cryptocurrency company, running affiliate program, day trading, bitcoin faucets and more.
TranzactInvest is one of the most trusted bitcoin/cryptocurrency investment sites to grow and double your cryptocurrency within a short time.
