How to make money with cryptocurrency?

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How to make money with cryptocurrency?

Two main ways to make money: There are two ways to make money with crypto. The first is by maximising how much of the currency you end up with.

  • Buying cryptocurrency directly 💸. Buying cryptocurrency directly is still one of the easiest and safest ways to secure the most cryptocurrency for your dollar.
  • Bitcoin and cryptocurrency mining ⛏. Buying and hosting your own miner. For some reason,I’ve always loved commodities.
  • Cloud Mining 💻. Now is where things get interesting. So although buying a miner and mining the currency yourself is usually a less effective way about gaining a cryptocurrency,…
  • Day trading/technical analysis 📈. I wanted to speak briefly on this. A lot of people are getting into day trading,or technical analysis.
  • Index funds&buy and hold (HODL) Yes,yes,yes. This is where I’ve found the most success.
  • ICOs. What a year for scams. An ICO is an initial coin offering,where essentially anyone with a plan could say,here is our plan,we’re raising this much
  • Useful Links. I’ve had lots of requests for additional resources and links so here are some. I’ll add more over time,including specific people to follow too.
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    What is the best way to buy bitcoin?

    The fastest and easiest way to buy Bitcoins is by looking for sellers who accept cash deposit at Local Bitcoin.

    How do I invest in Bitcoin?

    1. Join a Bitcoin Exchange. First,you’ll need to determine where you want to make a Bitcoin purchase. Most Bitcoin investors use cryptocurrency

  • 2. Get a Bitcoin Wallet.
  • 3. Connect Your Wallet to a Bank Account.
  • 4. Place Your Bitcoin Order.
  • 5. Manage Your Bitcoin Investments.

    • Should I buy bitcoin?

    You want to invest in it — and you understand the risks.

  • You want to send money or make purchases with it.
  • You like the philosophy behind a decentralized currency.

    • Why do bitcoins have value?

    Bitcoin has value because it is used as a medium of exchange(currency) between buyers and sellers of goods. Currency solves the problem of having goods for sale that someone needs. Let’s take an example from ancient times before currency existed.

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    How to trade Bitcoin?

    Open an account on a Bitcoin exchange (e.g. CEX.io,eToro,Bitstamp)

  • Verify your identity.
  • Deposit money to your account.
  • Open your first position on the exchange (i.e. buy or short sell)

    • What is a bitcoin exchange platform?

    Solely a Bitcoin exchange, the platform is aiming to become the “most trusted, secure and reliable exchange.” Users can buy, sell, and store bitcoins by way of services that include wallets and mobile features. The one downside is the fees, which can be a little tricky to work out for new buyers.