7 Legitimate Ways To Make Money Off or With Cryptocurrency

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The quest to make money off cryptocurrency is on a high. Just imagine making over 200 dollars in one hour. Making this kind of money is very much possible. In fact, I have seen people make this kind of money, and hence, this is the reason I am writing this post.

This post will share tips on how you can achieve it(make legit money) without going the scam route -the route that can make you cool your butt in prison.

In fact once you tap into this, you will smile home daily.
But, before I continue this post on how to make legitimate cash via cryptocurrency, I will like to define cryptocurrency.

What is Cryptocurrency?

For the uninitiated, Cryptocurrency is (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.

Ha Ha this is the definition as seen on Wikipedia. For a simpler definition let’s turn to Cryptocurrecncy facts

Cryptocurrency is an encrypted decentralized digital currency transferred between peers and confirmed in a public ledger via a process known as mining.

Like the normal mining you know of, cryptocurrency are not printed, but are discovered like gold, coal or other minerals using a computer network.

Once the currency is discovered, miners confirm the transaction through a public ledger system, and pass the information to other miners to confirm also.

The public ledger in which this transaction are recorded is called blockchain hence the name of the technology.
Because these mining and transaction is done independent of government, cryptocurrency is said to be decentralized.
Now away from a background fact on what cryptocurrency is, I will be focusing on 5 major ways you can earn cryptocurrency.

7 Ways You Can Make Money Off Cryptocurrency

1.Earn Cryptocurrency by Trading

I am sure most of you must have heard the term forex or foreign exchange.

People can also earn money through cryptocurrency trading just like trading in gold or dollars, or pound sterling. The amount of money you make depends on the difference between when you enter into the market and when you exit the market.
For example, if you purchased Monero at the market price of say $23.90 and you exit the market at $79 you would have made over 300% profit in a single day.

Trading though profitable is very risky and requires patience, gut, and perseverance for you to succeed. There are different platform you can use to trade. You can use the Bittrex or Poloniex platform to trade the currency you desire.

2.Invest in a Cryptocurrency Trading Company

For those who are very scared of trading by themselves, there is good news.
The good news is that you can invest in cryptocurrency investment companies.

Just like stock broking firms, these trading firms trade on your behalf. Some pay every single day while others pay every working day.
There are two of these trading firms I know of. The first one is Cryp trade. Cryp trade is unique in that they pay you the dollar equivalent in Bitcoin.

The disadvantage is that if Bitcoin goes higher the profit margin reduces.
They have three different portfollios but the minimum investment is 50 to $4999.

They pay you twice a month on the 15th and on the 30th. The pay for the first category is 0.57% daily and they pay you for 12 months.

The second investment is one in which I am active. The name of the company is USI-Tech, They pay you 1% of your investment 5 days a week for 140 working days. USI-Tech pays you in Bitcoin also. There might be others in the market, but these two are the ones I have seen people invest in. Note that there are lots of fake trading companies that are at most ponzi schemes. It is best you do your due diligent investigation before subscribing to any of these companies.

3.Make Money From Affiliate Marketing

There are several companies that pay in Bitcoin when you promote their services. For mining companies, they include:
Genesis mining: Genesis offers Bitcoin, ether and Zcash cloud mining affiliate program with 3% discount on hash power
HashCoins: The referral fee starts at 10% of their revenue from customers that you refer.
And Miners gate: You earn up to 0.75% from referrer's profit.

Others include coinbase which offer $10 as referral fees. Another great site is Rocketr.net. They have lots of products you can promote especially the e-book genre.

4.Make Money from Writing

I love writing as it makes me express myself in words and also to provide value to people. Steemit is an excellent way to make money from writing. There are people on steemit who earn $300 per article in less than one week. Imagine making that amount of money and knowing that the money continues to increase as people continue to visit you.

5.Make Money Selling Bitcoin (Cryptocurrency)

Imagine buying Bitcoin for $4000 and selling it at $4200. There are people who sell cryptocurrency to people without using an official exchange. They do this by having built their integrity. So people trust them to deliver.

This is a veritable way to make money especially from people who are just getting started in cryptocurrency investment.
However, understand that it is very dangerous for you buy crypto currency be it Bitcoin, Litecoin, Bitcoin cash, Ethereum, just to mention but a few from normal people as there are a lot of people who have been scammed this way. Instead, purchase from a credible exchange company like Luno, and Remitano.

6.Buy and Hold Strategy

The savvy entrepreneurs don’t just make money by trading they take it a notch higher by looking at the future. So they purchase early at the launch of the currency through ICO, or they can also enter the market at the early stage of the company’s existence.

They take out time to study the market before launching, and once they buy –they keep for a long time.

Clear examples are those who bought Bitcoin when it was less than $200. Today these guys are millionaires, that is why I advice people to grab this Bitcoin and altcoin revolution with both hands now as it takes you nothing but few cash to invest in potential billion dollar companies from anywhere in the world.

7.Make Money From Mining

I mentioned mining earlier in the article. Mining is a veritable way for you to make money off cryptocurrency. You need some good software and laptop if you want to start on a small scale though. And you should make show you have steady power supply. This advice is especially true in developing countries where you may need to purchase an alternate power source.

So I hope you now know a few ways to make money off crypto Currency. If you know other methods people can make money please share in the comment so that we can all learn and earn and so we can all smile to the bank and leave the life we want to live.