The pandemic has changed the rules of the money making game for everyone, and this is no exception in the IT industry. The IT industry has often failed since the beginning of the epidemic, and companies that could not switch to remote work were damaged or shut down completely. However, for some, this period was the beginning, on the contrary. Blockchain projects caught the public’s attention, which enabled Elon Musk to make money too. Below we will consider not only the lack of experience but also the options for making money in the crypto industry.
How to make money in cryptocurrency without experience?
More than ten years have passed since Satoshi Nakamoto invented Bitcoin. That’s why it remains the first and most popular cryptocurrency to date. Despite Bitcoin’s huge popularity, other currencies have emerged in the market such as altcoins, stablecoins, and others. There are over 7,000 coins in the cryptocurrency market, many of which are better than Bitcoin.
What should you do if nothing is clear and you want to earn money?
You don’t need to be an experienced broker and understand complex offers. Experienced programmers have been in the subject for a long time and are making good money. But a simple person, far from programming, can also make a successful start. It is enough to properly invest in any popular cryptocurrency and to make a stable profit. For starters, the advice of the winning professionals will be useful.
Invest by Staking
Staking is the process of investing in cryptocurrency to make a profit. In addition to receiving interest on deposited funds daily, profits are made due to the growth of the cryptocurrency. It is necessary to pay attention not only to Bitcoin, but also to other cryptocurrencies. You can safely invest in other currencies:
- TON CRYSTAL
- ARE NOT
To make it clearer, the value of WISE is 20 ERC tokens. This is the safest type of cryptocurrency to earn money and guarantees more than 5% per year using staking. You can withdraw interest or all investments at any time.
Long term investment
A cryptocurrency portfolio with positive potential is created in which mutual funds are deposited from day one. The investment is made for a certain period of time. It remains only to observe the growth of the price of the cryptocurrency and when it reaches its peak (according to the investor) it sells profitably.
This type of investment does not generate interest earnings on the deposit amount. The best currency for such earnings:
- Free TON;
For example, investors who bought bitcoin earlier last year and sold it in February this year have increased their deposit amount fivefold. A similar situation was experienced in ETH, which grew eight times in one year.
Trading on the cryptocurrency exchange
Trading on the cryptocurrency exchange is similar to trading currency pairs but is more profitable. The investment is short term. The investor buys the coin and waits calmly until it grows, and then sells it on the stock market. It is this kind of investment that you have to make on a daily basis. It is most profitable to invest in a currency that is newly emerging in the stock market, which is very risky, to use the best practices of other investors, and to see projects that show steady growth.
Why are contests useful for the crypto community?
People who think like Free TON argue that the competitions create a spirit of harmony in the community, increase interest and attract new members. For the winners of the competition, the benefit is not only the prize money of the winner, but also their participation in the project. Over time, their projects come to life and they are proud of their sense of need for their work and their contribution to the current state of the blockchain.
Competition strategy helps every participant create and contribute to a promising project. An open discussion allows you to fully express your opinion by eliminating the passivity of community members who feel they do not have the right to vote. On the other hand, this innovation time is shortened because a smaller group of tokens is distributed much faster among winners. Of course, this is a huge advantage over grants that take at least a few months to receive.
Remember, no matter what kind of winnings you choose, the choice is yours and only you decide what is right and what is not. But I can say for sure that competitions are the most profitable way to make a profit without cash investments.