Cryptocurrency Blog

Can I make money with Cryptocurrency daily?

There are two ways you can make money with Cryptocurrency. One is a quick way and another is slow but will give you long-term returns. I will explain both one by one.

1. Quick way to earn: This will need you to buy Cryptocurrency at first. You can buy Bitcoin, Ethereum, Litecoin or Bitcoin Cash at Coinbase. Once you purchased your preferred Cryptocurrency  then you can transfer that to GDAX which is the trading platform by Coinbase and same login details will work at GDAX as well. One need to do id verification before doing trading on GDAX. Once you are into GDAX interface you can sell your coin at one price and buy it at another price. People generally sell at the high price and buy at low price. “Buy low, sell high” strategy can make you earn quickly. At GDAX you can sell your coins with USD. As the price of Cryptocurrency is very volatile, the aim should be to catch a condition when the price is high at the time of selling and subsequently when price should be low at the time of buying. No one can catch all “buy low, sell high” combinations on a regular basis so you need to be very careful to gain maximally. Always remember trading is simply an exchange of cypto coins between two people on a trading exchange. So if someone is at profit then other will be at loss. Your aims should be gain at the end of the day. Sometimes when bad news is in market about Cryptocurrency then all bitcoin and all the Altcoins perform badly so you should avoid doing trading those tough day. It’s good to let some days going without any trading. But if there is some good news in the market it allows prices to go too high and you should not make mistakes during those times. The market will correct after some time and it will stabilize the price. Also, don’t sell too quickly at those times otherwise you may miss the major gains.
   Coinbase (GDAX) is not the only place to do Cryptocurrency trading. GDAX is limited in offering only 4 coins to trade (Bitcoin, Ethereum, Litecoin or Bitcoin Cash). But you can join Binance which has Bitcoin and 100s of Altcoins in its list. So you can trade for any of these. The benefits of trading here is that you can take benefits from rise and fall of prices of 100s of Altcoins. However, you can’t purchase bitcoin or any other Altcoins directly at Binance by paying in Dollar, Euro or GBP. First you need to buy other Cryptocurrencies like Bitcoin, Litecoin, Ethereum somewhere (maybe from Coinbase which is most popular and trusted worldwide) then you need to transfer that to Binance balance (which is very simple and both sites will give you the respective currency address to get the currency) and then you can buy any altcoin with that balance. In other words, this is just the exchange and not the actual buying with dollars. On Binance, all trading is done with BTC, ETH, BNB or USDT. Therefore even if you have any altcoin you need to purchase one of these currencies first to exchange it for other Altcoins like Ripple, IOTA, Verge etc. Once you want to convert your gain to USD or Euro then you can convert all your coins to one of the options available on Coinbase means Bitcoin, Litecoin, Ethereum or Bitcoin Cash. Subsequently, you can transfer that to your Coinbase account by withdrawal option available on Binance. You now can sell your coin against USD at Coinbase or GDAX. Coinbase provides option to transfer your USD balance to your bank account directly via bank transfer or wire transfer. You don’t need to transfer your daily gains but you can transfer your monetary gain weekly or monthly.
2. Slow way to earn (free Cryptocurrency earning): You can earn some free bitcoins and other Cryptocurrency collectively called as Altcoins by simply being an affiliate for companies who are willing to share profit with you if you drive customers to their business. For example, The Coinbase and Binance links here are also affiliated links and if anybody click (I request to do so if you like the article) on these links and create an account then I will earn $10 at Coinbase and 50% of the trading fee at Binance. Similarly, there are many options as many companies are doing business based on Cryptocurrency and I have listed those in another post on earning free Cryptocurrency. I have made a list where you can join and earn free bitcoin. If you join those companies then you can publicize your affiliate links at different places. Your personal website or blog is the best place but you can also use any social media or discussion forum where like-minded people are talking about these things. You will have highest chance to drive traffic through your affiliate link. If you are very popular on social media like Facebook, twitter, LinkedIn etc then your success is most like as your followers will join using your affiliate links after your suggestions.

However, you should know Cryptocurrency is a very volatile market and values of bitcoin or any other Altcoins can fluctuate a lot making big gain or loss. So invest your time and money wisely.