Anonymous

Do you make money from cryptocurrencies?

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10 Answers

Jimmy Taylor Profile
Jimmy Taylor , Crypto enthusiast since 2014, Web Developer, ICO Investor, answered

There are to main ways to make money in crypto if you are not a developer – by trading and by investing in ICOs (Public token sales).

Let me first tell you 2 ways you will NOT make money in crypto – by
trading and by investing in lending/staking platforms (blatant Ponzi schemes). Now, trading is a fools’ game, I know a lot of people will not agree with me and there are a lot of self-proclaimed trading experts out there, but cryptocurrency trading is not regulated, highly speculative, very, very volatile and subject to dozens of different market manipulation tactics.

If there are people that can make a lot of money trading – that are the
whales – the very wealthy guys with media influence, they form groups and can pump and dump different coins and markets, and take advantage of the regular traders. Increased usage of bots also doesn’t help the ordinary, normal type trader. If someone tries to tell you that you can predict anything on this
market, or that he can do any kind of adequate technical analysis – he is lying and very well could try to take advantage of you in the future – one way or another, could be only as a follower and audience.

For already well-known pyramid Ponzi schemes – there’s no much to say there, do NOT put any money in such scams.

The only way you can earn a legit amount of money in crypto space is investing (contributing) in ICOs (crowdsales). There are a lot of scams among the ICOs too, but if you do your own research (you should, EVERY TIME), check the team carefully and find as much info as you can – it can be very profitable, the ROI with ICOs are massive. The thing is, no matter what you do, a HUGE percentage of them are going to fail, as with any startup. Generally, when it comes to investing, crypto or not, the riskier is an investment, the more profitable it could be. That’s why I for more than 3 years I spent in crypto I only invested in few of them. It was very risky business.

However, there is a new type of service out there that I started to use –
investment insurance. ICO-Refund.com are the first ones to provide it, but I expect this niche to become competitive soon. Because of my experience in this area, I contacted the team (I insisted on being a Google Hangouts video chat) and they looked genuine and motivated young people with a great idea and clear goals and vision.

It is a platform for managing a collective pool of funds, used for refunding investments to failed ICO projects and protection against drastic token/coin drop in value.

So, what you do is basically the same as when you insure your car, but with a one-time fee. You choose from the ICOs they cover with refund option, make your investment in it (if you haven’t done this already) and pay your insurance fee which is a contribution to the collective pool of funds used to refund investments in failed projects. This contribution is 18% of the total investment you want to protect if you can find an affiliate (referral) link to register with and 20% without it, which in my opinion is more then acceptable having in mind that ICO investments are a very risky asset that you are ensuring, as I said earlier.

If the project that you have invested in fails, you will get a refund in the
amount of 88 to 95% of your investment. That is a game changer since you are able to make a big profit from your investments in the successful ICOs and to reduce your losses from the unsuccessful ones to a minimum.

One very important thing to note is that you are also able to cancel your insurance and withdraw 70% of your insurance fee (the contribution you made to the refund pool in order to protect your investment) in case you want to sell the tokens you got in the ICO. So let’s say 2 months after the end of the ICO the tokens of the project have reached 200% of their price during the ICO stage and you want to sell them – then you just trade them and cancel your insurance, making a very good profit with almost no additional expenses. In
the opposite case - a token falls in value – if it is 75% or more for at least 45 days you are also eligible for a refund.
This platform is truly a
game-changer when it comes to crypto investing.

One negative thing is that they don’t cover a lot of projects currently.
I wasn’t able to use their service for some of the ICOs I’d like to invest in, as they are not supporting them. On the other side, the ones that they do, appear to be very well known, and with a good reputation in the community, which I guess is to be expected if they really conduct extensive research, following and monitoring on the projects they cover, as they claim.

Overall, investing in selected and well researched ICOs and limiting your risk exposure to project’s failures with third-party service like ICO-Refund, in my opinion, is the safest and most profitable way to earn money in crypto at the moment.

Martin Garret Profile
Martin Garret answered

A lot of people do but I am not risky enough so I only track all the Cryptocurrency News and don't invest. Well, I may be wrong but you know, I am really afraid to lose money. So for me, it's enough just to watch the market.

David Patterson Profile
David Patterson answered

No, I make money playing https://slotuniverses.com/mobile-slots/

Hanna Whilson Profile
Hanna Whilson answered

I started using cryptocurrency not long ago, but I know that I can make money on it. I should say, cryptocurrency guides from https://cryptolinks.com/crypto-guides-and-courses-know-how-info help me a lot. What sources do you use to improve your knowledge and skills?

Karl Sagan Profile
Karl Sagan answered

Oh, I see you're mining bitcoins. If it's not a secret where do you exchange bitcoins? I have more than 100 bitcoins and it is quite a lot. I'm worried about the security of bitcoin exchanges. You heard anything about the exchanger 365cash.co? I think it looks safe and profitable. What do you think?

Chips Ters Profile
Chips Ters answered

Cryptocurrency, unconditionally the future, and the sooner it is to understand and master it, the easier it will be later, so I have been studying this topic for a long time, and after hundreds of articles, I decided to buy a couple of coins, started looking for an exchange, found a binance exchange, and immediately found myself profitable Binance referral code, just try it!

Peter Cohan Profile
Peter Cohan answered

I can tell you this, for successful trading a crypto trader must have a set of useful tools that will help him most effectively play the game on the market. It is also important to learn kraken crypto review  . This will help you choose a reliable broker

Kira Smart Profile
Kira Smart answered

Yes, I do earn on crypto. Crypto currency is a very lucrative concept especially when it's so much on social media. I've got interested in creating my own crypto exchange - in other words I want to start a cryptocurrency bbusiness so I have to learn about crypto regulation to rule my business effectively.

Miley Johnson Profile
Miley Johnson answered

If you want to make some money trading cryptocurrencies, I recommend you to read the blog from https://fintab.io/ I think you will find some really nice and helpful information on it for you. Good luck with it, hope I helped ;)

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