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A Guide For The Crypto Rich

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Coinpedia

Are there normal ways to make money in cryptocurrency without running into scammers who promise tons of gold? In fact – yes. This article is an overview of less risky and long-term investment tools powered by blockchain. 

Many people are afraid to make money on cryptocurrencies because of unreliable types of investments: the fashion for NFTs, news about “hype” altcoins, or the risk of high-frequency trading. However, a cryptocurrency can not only be securely stored but also bring profitable interest. 

Where not to invest?

High-frequency trading (HFT) 

The way of earning in which cryptocurrency trading occurs automatically is based on algorithms. Special programs (bots) analyze even tiny changes in asset prices and fix where to buy them cheaper and where to sell them with more profit. Not suitable for beginner investors, requires expensive equipment and expertise in how algorithms work. One mistake can cost the whole deposit. 

ICO 

Initial coin offering by a new company or startup to attract investments. Almost the same as an initial public offering of shares by a company (IPO), but with a cryptocurrency exchange. Initially placed coins are called altcoins. There is a high risk of getting on a scam startup, and the need to constantly monitor the market and what projects are offered by the ICO. 

NFT 

It is a digital asset created on the blockchain. It can include digital art, character cards, game items, photos, videos, and more. It is a token created on the blockchain that guarantees the uniqueness of the item and its ownership. A large number of scam projects, a high risk of losing all the money due to illiquid NFT, and harm to the environment. 

Where should you invest?

Staking

Staking appeared as an alternative to mining and the Proof-of-Work algorithm – it works on the Proof-of-Stake (PoS) algorithm. This mechanism does not use computing power, as in Bitcoin, but the number of coins provided by users to confirm the transaction. However, you need to understand trending cryptocurrencies, there is a possibility of losing your funds on coins with a low market capitalization. 

Cloud mining 

Cloud mining is a versatile type of crypto mining that offers new opportunities for both experienced miners and those who are just taking their first steps in the field. Cryptocurrency mining in the cloud is available even to those who are not versed in the technical side of the issue and mining settings. 

Any investor can earn cryptocurrency with the help of cloud mining, sell it through a reliable exchange and thus secure a stable passive income. 

One of the market leaders is SunMining: professional miners have teamed up to create an advanced mining farm using clean solar energy. Now they are renting out part of the capacity to everyone who wants it, in return, they take a commission for the maintenance of equipment. 

According to experts, the electricity generated by the sun is safe for the environment. It is economically and environmentally beneficial to mine with such energy. Every crypto enthusiast can contribute to the ecology of the planet by choosing ecological mining with SunMining company. 

To start, it is enough to choose one of the contracts and conclude an agreement with a mining service. All payments are made in Bitcoin to secure the system. In a personal account, it is possible to track the amount of mined cryptocurrency and passive income. The company also provides an opportunity to participate in the referral program – by inviting friends, the user receives additional rewards.

Coinpedia

Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: info@coinpedia.org

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