5 Easy Ways to Make Money on Crypto in 2024
Summary
TLDRThis video introduces five primary methods to earn money in cryptocurrency, suitable for beginners. It covers air drops and R drops, which offer rewards for simple actions or early engagement with projects. Trading, including spot and futures, requires market knowledge and risk management. Investing in crypto for long-term returns involves portfolio assembly and secure storage. Crypto games like Axie Infinity and Top Swap allow users to earn tokens through tasks and gameplay. Lastly, NFTs offer opportunities for creators and investors, with caution advised against scams.
Takeaways
- 💰 Cryptocurrency offers multiple ways to earn money, including air drops, trading, investing, crypto games, and NFTs.
- 🌱 Air drops and R drops are opportunities for beginners to earn tokens by performing simple tasks or being early supporters of a project.
- 🔍 The success of air drops depends on the project's financial ability to distribute rewards and can vary in value.
- 📈 Trading involves buying and selling cryptocurrencies to profit from price fluctuations, with spot and futures as the main methods.
- 📚 Knowledge of market analysis and risk management is crucial for successful trading.
- 🏦 Investing in cryptocurrency is a long-term strategy with lower immediate returns but potentially higher stability.
- 💼 Building a diverse investment portfolio and choosing the right exchange are important steps in cryptocurrency investing.
- 💡 Crypto games like Axie Infinity and Top Swap allow users to earn tokens by completing tasks or participating in game mechanics.
- 🎮 Earnings from crypto games can vary widely, and strategies like joining promising projects and using referral programs can increase earnings.
- 🎨 NFTs are unique digital assets that can be created and sold for profit, with examples ranging from digital art to tweets.
- 🔒 Investing in NFTs requires caution to avoid scams and to understand that high-value sales are the exception rather than the rule.
Q & A
What are the five main ways mentioned in the video to make money on cryptocurrency?
-The five main ways are: 1) Participating in token air drops and R drops, 2) Trading cryptocurrencies, 3) Long-term investing in cryptocurrency, 4) Engaging in crypto games, and 5) Working with NFTs.
What is an air drop in the context of cryptocurrency?
-An air drop is the distribution of a project's token for performing simple activities like subscribing to the project's social networks, using the blockchain, reposting posts, and liking.
What is the difference between an air drop and an R drop?
-Air drops are issued for certain actions, while R drops reward early users for their early activity in a project.
Why do crypto projects give away tokens for simple actions or early participation?
-Crypto projects give away tokens as a marketing strategy to attract new users and show prospects to potential investors, which helps to attract attention and make the project known.
What are the risks associated with participating in air drops and R drops?
-The risks include the possibility that not all projects are financially capable of distributing tokens to every user, leading to some participants receiving nothing despite their activity. Additionally, users may not always know the conditions under which they will receive tokens or the quantity they will get.
What are the two main methods of trading mentioned in the video?
-The two main methods of trading are spot trading and futures trading.
Why are beginners advised against futures trading and to focus on spot trading?
-Beginners are advised to focus on spot trading because it is simpler, involving buying or selling assets for immediate delivery, whereas futures trading involves contracts for asset delivery at a future date and can be more complex and risky.
What is the main difference between trading and investing in cryptocurrency?
-Trading involves frequent short-term purchase and sale transactions aiming to profit from price fluctuations, while investing is a long-term approach where money is invested with the aim of making a profit or income in the future, over months, years, or even decades.
What are some tips for starting long-term cryptocurrency investing?
-To start long-term investing, one should research various projects, construct an investment portfolio, select a suitable exchange for trading, and consider using a secure offline crypto wallet for storing the investments.
How do crypto games like Notk and Hamster Combat allow users to earn cryptocurrency?
-Crypto games allow users to earn cryptocurrency by performing various actions such as clicking, completing tasks, or participating in game mechanics, which can be as simple as subscribing to social networks, watching videos, or reposting posts.
What is an NFT and how can one make money from it?
-An NFT is a certificate that confirms ownership of a digital asset using blockchain technology. One can make money from NFTs by creating and selling them or by investing in them, similar to trading cryptocurrencies.
Outlines
🚀 Cryptocurrency Earnings for Beginners
This paragraph introduces the video's focus on five main ways to earn money in the cryptocurrency space, even for beginners. It highlights the concept of air drops and R drops as an ideal starting point, explaining that they require no initial investment and involve simple tasks such as social media engagement. The difference between air drops and R drops is clarified, with air drops being rewards for specific actions and R drops for early project support. The importance of research and understanding project legitimacy is emphasized to mitigate risks, as not all projects can financially support their promises. Examples of successful air drops from the optimism and arbitrum projects are given, illustrating the potential earnings, but also noting the variability and uncertainty inherent in this method.
💼 Investing and Trading in Cryptocurrency
The second paragraph delves into the methods of trading and investing within the cryptocurrency market. Trading is described as short-term transactions aimed at profiting from price fluctuations, requiring market knowledge and risk management. Two main trading methods are discussed: spot trading, which involves immediate asset delivery, and futures trading, which involves contracts for future asset delivery at a set price. The importance of fundamental and technical analysis for successful trading is stressed. Investing is contrasted with trading, being a long-term approach with lower immediate returns but potentially greater stability. Key steps for starting in long-term investing include researching projects, assembling an investment portfolio, choosing a trading exchange, and securing assets in a crypto wallet. The paragraph also addresses the misconception that large capital is needed to start investing, asserting that even small amounts can be a good starting point.
🎮 Earning Through Crypto Games and NFTs
The final paragraph explores the emerging opportunities in crypto games and non-fungible tokens (NFTs). It explains how users can earn cryptocurrency through games that require simple actions like clicking or completing tasks, citing examples like 'notk' and 'top swap'. The potential for earnings varies, and the paragraph advises joining promising projects, using referral programs, and consistent daily play to maximize earnings. It also introduces NFTs as unique digital asset certificates, created on the blockchain, and discusses the two main ways to profit from them: creating and selling NFTs, or investing in them. The paragraph cautions about the risks of scams in the NFT market and the importance of safety in transactions. It concludes by highlighting the exceptional cases of high-value NFT sales, such as a tweet from Twitter's co-founder, while noting that these are not the norm.
Mindmap
Keywords
💡Cryptocurrency
💡Airdrops
💡R drops
💡Risk Management
💡Spot Trading
💡Futures Trading
💡Investing
💡Crypto Wallets
💡Play-to-Earn Games
💡NFTs
Highlights
Making over $1,000 per month possible for beginners in cryptocurrency.
Introduction to five main ways to make money on crypto by Will, a 10-year veteran.
Air drops and bounties as an investment-free entry point to crypto.
Difference between air drops and bounties explained.
Crypto projects use air drops as a marketing strategy to attract users and investors.
The need for a crypto wallet and free time to participate in air drops.
Examples of successful air drops from the optimism and arbitrum projects.
Risks associated with air drops, including the possibility of receiving nothing.
Importance of researching projects before participating in air drops.
Free advice on evaluating projects by looking at investors and potential token listings.
Trading as a method to make profits from price fluctuations in the crypto market.
Differences between spot trading and futures trading for beginners.
The necessity of market analysis and understanding for successful trading.
Investing in cryptocurrency for long-term profit or income.
How to start long-term investing with a focus on portfolio assembly and exchange selection.
Crypto wallets as a secure method for long-term cryptocurrency storage.
Discussion on the low capital requirement for starting crypto investment.
Crypto games as a way to earn money by performing simple tasks or actions.
Examples of popular crypto games like Axie Infinity and their earning potential.
NFTs as unique digital assets with ownership certificates using blockchain technology.
Ways to make money from NFTs, including creation and investment.
Risks and safety considerations when dealing with NFTs.
The potential but also the exceptions in the high-value sales of NFTs.
Call to action for a second part of the video and engagement with the channel.
Transcripts
after watching this video you will be
able to make more than $1,000 per month
even if you're just a beginner hello
everyone my name is Will and for the
past 10 years I've been making money on
cryptocurrency So today we're going to
talk about five main ways how to make
money on crypto so the first method is
bre drops and air drops this is an ideal
option for starting in crypto since this
type of activity doesn't require any
Investments an air drop is the
distribution of a project token for
performing simple activities such as
subscribing to the project social
networks using the blockchain reposting
posts and like a r drop is the type of
air drop that gives a reward in tokens
to those users who have been with the
project from the very beginning so what
is the difference between R drop and air
drop air drops are issued for certain
actions R drop rewards early users for
their early AC ity in Project a logical
question that you might have is why the
project will give you money for simple
actions and early activity at the
beginning of its Journey a crypto
project needs to attract as many new
users as it possible this is kind of
marketing strategy it is important for
the project to show prospects to
potential investors so you need to
attract the attention of the audience
and make yourself known to start you
only need a crypto wallet and free time
you can search for projects on popular
crypto sites or telegram channels for
example if you were to join the optimism
project in 2022 you could get an average
of 500 to $1,000 per account and in 2023
there was a large drop from the arbitrum
project in which users received 1,500 or
more per account pretty good for such
simple tasks however there are risk here
too not all projects are financially
able to distribute money to each user so
some are shaved that is left with
nothing even if these users were very
active sometimes drops are not disab to
anyone at all you can spend a huge
amount of time and end up with nothing
it is worth noting that very often users
do not know exactly whether a drop Wass
them under what condition it will be and
in what quantity therefore it is
important to do research before entering
the project here my top free advice for
you look at the investors in the project
when the project token will be listed
and on which exchanges the more
well-known investors and Partnerships
the better the project and the more
likely it is that you will be given a
drop but again there are exceptions for
example this month there will a drop
from zkc and many users complained that
they received very few tokens or nothing
at all although at the start the project
seemed very promising and the number of
audience exceeded 1 million for example
even the not coin which has more than 30
million users distribut more tokens
although all you had to do was tap on
the screen but we will talk about
slippers later in this video method
number two trading this are frequent
shortterm purchase sale transactions
with the aim of making a profit on price
flexation in simple terms I bought a
coin cheaper and I S it for more however
in order to buy and sell correctly you
need to have special knowledge and
understanding of how the market and it
participants work risk management
patterns and the like there are two main
methods of trading spot and Futures
beginners shouldn't bother with lot it's
better to get their teeth into spot
trading spot trading is the process of
buying or selling financial instruments
assets for immediate delivery that is
when you buy or sell an asset on the
spot Market the transaction is completed
immediately and the asset passes to the
new owner Futures Trading in the process
of buying or selling a contract for the
delivery of an asset in the future at
pre-agreed price that is instead of
taking immediate delivery of an asset
you're buying or selling a contract that
obligates you to buy or sell the asset
at a specific date in the future in spot
trading you can only make money by
buying low and selling High while in
Futures you can make money on both
rising and falling prices the basis of
trading is market analysis and forecast
of price movements a fortun teller or
tarot cards will not help you here you
need to conduct fundamental and
technical analysis fundamental and
technical analysis are the two main
approaches to assessing and predicting
the price behavior of cryptocurrencies
and other Financial assets however it is
important to remember that in addition
to the promising opportunities in
trading there are many risks you can
quickly earn $1,000 but lose it in the
next day therefore it is very important
to have solid knowledge a go head and
patience everything seems complicated
but with practice and continuous
learning you can achieve a stable income
the Third Way is investing many people
believe that trading and investing are
the same thing but this is completely
false investing is investing money in
cryptocurrency with the aim of making a
profit or income in the future and here
we are talking about months years and
even decades and not about hours and
days as in trading in passive long-term
investing there is no immediate quick
income however the risks are much lower
compared to trading with a properly
constructed trading strategy in a few
years you will be able to achieve decent
passive income how to start point one if
you decide to engage in long-term
investing then it is important to start
starting various projects and correctly
assemble an Investment Portfolio study
the project find out about the creators
capitalization
investors and after a soral analysis you
can start investing point two selecting
an exchange for trading nowadays there
are really a lot of different exchanges
in taste and color basically the
difference between them is only in
commissions and trading payers so there
is no clear One exchange on which
absolutely everyone trades point three
let's say you bought cryptocurrency but
where should you store it exchanges can
be vulnerable socaled crypto wallets are
ideal for a long-term option this is a
device or program designed to store
cryptocurrency offline this is the most
secure way to store cryptocurrency since
the wallet is not connected to the
internet and the four is not vulnerable
to Hawkers and viruses you can purchase
a similar wallet in online stores many
people ask the question how much money
is needed to start investing in
cryptocurrency you don't need a huge
amount of capital to start you can start
this type of activity even with $20 in
your pocket which is why this is an
excellent option for beginners it seems
to me that everyone has already heard
about the fourth method these are cre
games already every second School child
knows what notk hamster combat and top
swap are in a matter of months crypto
games have attracted the attention of
many people so I will tell you how to
make money on them it all start with
notk a crypto game from P Duro where
where you just had to click on the
screen in a short period of time not
became very popular as people wanted to
earn money without doing anything and
they really succeeded when the NCoin was
listed many people sld tokens for 100
500 and even
$1,000 after NCoin was released people
saw how much they could earn on Crypt
tops and began to join new projects
crypto games such as notk hamster combat
top SW and others are games and
applications in which users can earn
cryptocurrency for performing various
actions such as clicking completing
tasks or participating in game mechanics
usually the tasks are as simple as it
possible subscribing to the social
networks of the project and their
Partners watching videos reposting posts
and much more but you can also earn
tokens by simply clicking on the screen
and upgrading functions in the
application
one example of a good project is top
swap which is one of the most promising
crypto games as it has several
interesting Partnerships with other
projects and has already announced a
listing on exchanges players collect
coins by completing tasks the game has a
paid boost to speed up farming the
player's task is to accumulate the
maximum number of coins using the bot
and boosts as well as manually m coins
for the best result and we answer the
main question how much much can you earn
on these crypto games as practice with
not coin has shown earnings directly
depends on you you can earn both $10 and
$500 there are several recommendations
for increasing token earnings join
promising proven projects invite friends
through the referral program and play
every day you can try to create several
accounts but some projects May bun you
for this so you need to be careful the
last method of our video is
nft first let's understand what nft is
this is a certificate that confirms your
ownership of a digital asset such as an
image music or item in the virtual world
it is created using blockchain
technology making it impossible to
counterfeit one of the main ways to make
money from nfts is by creating and
selling them what kind of nfts can you
create which ones do you want and it's
not a joke here's the digital toilet
paper from the US brand Charmin that
sold for
$4,100 this first tweet from Twitter
co-founder Jack dorsy sold for $2.9
million there is another way to make
money from nfts investing the principle
is similar to point3 from our video but
only now we will trade not Bitcoin but
NF but don't forget about the risks
there are also scammers and scum in the
nft world so always think about the
safety and do not fall for dubious deals
also remember that not every toilet
paper or famous person's tweet can sell
for several million this is the
exception rather than rule in this video
we looked at the main ways to make money
on cryptocurrency however there are many
more so if you want to second part then
subscribe to our Channel and leave your
likes team token was with you see you in
the new videos
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