Most online cryptocurrencies are extremely volatile and should be researched before you put any dollar amount into the world of crypto.
I was extremely cautious of cryptocurrencies in the beginning because they were highly unregulated and most of these coin platforms were designed to rip people off.
Now there are many reputable firms that have proven that they want to help individuals and organizations with purchasing, selling, and/or converting cryptocurrencies.
It’s a good sign that a lot of these reputable crypto companies are expanding into the mainstream like WWE, NFL, UFC, and many major brands are being endorsed via crypto.
Platforms like Gemini and Coinbase are making it easier for people to signup for accounts instantly, these platforms are helping the expansion of cryptocurrencies.
Taking Cryptocurrencies More Seriously
Now that there are coins that are called “stablecoins” that actually have a good backing like the USD (United States Dollar), you can purchase a stable coin like USD-Coin and make about .15% in APR. There are some other stablecoins but they might fluctuate throughout the day though the percentages paid are higher (2-4%).
Many reputable crypto platforms are investing the money they have attained into mainstream products and services, for example, it’s amazing how Crypto.com was able to take over the name-rights to the Staples Centre for the next 20 years, this 800 million investment has already paid off for the company as their Crypto.com coin raised rapidly.
I was able to invest in the Crypto.com coin over the last few days and made some decent money, I finally understood why people would purchase Cryptocurrencies and just sell them after they rise in a few pennies to make a great profit, this must have been how the stock market used to be like when it first started! People were making money!
I bought over 100 Crypto.com coins at about $46-48 and was able to convert a bunch of them back and forth, I would convert to dogecoin on Coinbase, once the price would drop on Crypto.com coin then I would convert back and make a decent profit once the coin raised, I was able to cash out a few times and made about $20-30 each time.
Imagine if a person just sat down and traded cryptocurrencies throughout the day based on pennies? You could make an easy $10-100 without a big investment, people are hoping on any coin that comes up and the market goes crazy for that coin as the momentum builds, you can make money on literally every cryptocurrency available.
Do Your Cryptocurrency Research
Do your research before you purchase anything, I would join online forums to see if new coins are being planned for release or if any information is available before it hits the mainstream.
By knowing this information then you can hop on a coin before it’s getting steamy, you can put down a few hundred dollars and watch it go up a few pennies, sell it.
That’s how you’re really going to make money off Crypto, don’t be greedy, just try to hop on a good coin and cash out when it goes up 2-5% which can happen in seconds!
If you want a free $5 Bitcoin ($10 if you spend $100), you can signup with Coinbase here, I use Coinbase right now and my only complaint is that the Coinbase fee could be lower but I’m still making money so I’m not complaining. I got a free $5 worth of Bitcoin for joining Coinbase in the first place a week ago.
The only thing I can see negative about Bitcoin is that a lot of the money is unaccountable, for example, 9% of Bitcoins are held by the Chinese government, mostly forfeited or seized.
I feel like people can make a decent living by just selling cryptocurrencies, most people wouldn’t need more than a thousand dollars for decent returns.
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