New blockchain technologies have brought new earning opportunities. Interest in cryptocurrencies has spread to all corners of the planet, but many do not fully understand how to use them. This article will briefly review the basic principles of making money in the crypto field, using useful facts and vivid examples.
Ways to Make Money in Crypto
The number of cryptocurrencies has long crossed the 10,000 mark. Each platform releases its product and brings its unique features. Despite this, several categories are implemented on almost every top platform.
Crypto Mining
The most popular way to earn is Mining. It’s the process of creating new Blockchain blocks. Earlier, it used to be possible to get a huge amount of BTC and other currencies. Unfortunately, nowadays, you can’t get away with one pick… High power consumption and expensive equipment that performs complex calculations complicate the process. To enter the Mining market effectively, you need at least 50 units of modern devices with a total value of more than $500,000! Therefore, many crypto enthusiasts are involved in Staking, as this alternative suits beginners and experienced investors.
Crypto Staking
It’s a currency lock for security in the Blockchain network. The more you hold cryptocurrencies, the more you help the system. Then, you receive various rewards in the form of passive income.
Choosing a reliable platform with excellent conditions for Staking is the main goal. There are some important criteria: the minimum threshold, profit, and the number of currencies. The minimum threshold is the amount of crypto on the balance required to start Staking. Profit is calculated based on APY (annual percentage of net income with compound interest) and APR (annual percentage with fees).
For example, on BetFury – an ecosystem of crypto products, Staking is implemented with up to 50% APY, and passive income is paid daily. You must have 100 at least BFG (BetFury’s native utility tokens) to receive rewards. You can withdraw funds in BFG tokens and five popular coins (USDT, ETH, BTC, BNB, and TRX). When you choose BFG, your payout increases each time you wager more BetFury tokens. You can trade cryptocurrencies like BFG on popular exchanges and win them by playing on the platform. In addition, BetFury has Fury Wheel – a free wheel with rewards of up to 1 BTC.
Such a staking system is quite profitable and simple since you can quickly start the path of an investor and withdraw funds at will.
Blockchain Games
In 2017, CryptoKitties was launched. It was the first game related to Blockchain technologies. Many companies around the world picked up this baton. Crypto enthusiasts quickly mastered these entertainments and learned how to earn money by playing! Then, the Metaverses were created, and Blockchain games related to the casino theme appeared. Someone played Poker for cryptocurrency, and someone liked Slots. This industry has gained momentum and has become a great option to make money while enjoying the process.
For example, BetFury, which we discussed above, is also an iGaming platform. It offers over 8,000 Slots and Original games with one of the highest RTPs on the market (up to 99.02% RTP). Regarding the variety of crypto, you can choose BTS, ETH, TPX, USDT, and other top currencies for the game.
Affiliate Program
If you are an influencer and have a wide audience in the social media space, take advantage of the Affiliate Program. It generates income for each attracted user. Although, the conditions of the system also depend on the choice of platform. Affiliates on BetFury receive up to 60% RevShare. It is the case when working together brings excellent benefits to both parties.
In conclusion, earning on cryptocurrency has become much more interesting and easier due to the huge variety of options. The most important thing is choosing the right currency and platform because your profit depends on it. Start your journey right now, invest in crypto smartly, and enjoy making money!
