How to make money through cryptocurrency

Cryptocurrency, also known as crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies are digital assets people use as investments and for online purchases.


Cryptocurrencies can be used to buy and sell things, and their potential to store and grow value has also caught the eye of many investors. There are thousands of different cryptocurrencies available today.


They don't have a central issuing or regulating authority, instead of using a decentralized system to record transactions and issue new units.


 


CRYPTOCURRENCY PROS AND CONS

investing in cryptocurrency yields a great value, experienced investors are investing in crypto because of its profit, it is also one of the most popular income generators, but it is risky because of its volatility; likely to change suddenly, especially for beginners.

However, with the tips below, you would be able to trade crypto like a professional


1. Understand what you’re investing in


Cryptocurrency is on fire, but it is not for novices, understanding everything that entails it before investing is the only thing that can push through, crypto trading is not always predictable, you have to know what you are doing by studying the pros and cons of the business.


2. Watch that volatility


Volatility means something to change suddenly, an unpredictable thing.


Crypto is highly volatile, you have to watch its volatility, you can watch its volatility with CVI( crypto volatility index), almost all crypto platforms have high volatility.


3. Choose a cryptocurrency exchange

choosing an exchange is the first step in starting cryptocurrency, there are many platforms where you can trade crypto, platforms as Binance, Bitcoin, Ethereum, and others. you must be extra careful while choosing a crypto exchange.


4. Don’t invest more than you can afford to lose

Investing more than what you can afford to lose is a common problem among traders because trading crypto involves you using your insight and foresight.


5. Store your cryptocurrency in a “wallet”

The most secure way to store your cryptocurrency is via wallet. A wallet also called cold storage is a program software designed for cryptocurrencies, some of the most trusted wallets are tremor, ledger, exodus, coinbase wallet, trust wallet, and so on.


6. Manage your risk


Risk Management, managing risk is an important thing to take note of while trading, because cryptocurrency is a risk-taking business, its volatility makes it unpredictable.



7. Use trading bots

trading bots are efficient and profitable as long as you configured them properly, you don't have to worry about human error and delays, for as long as you input the right data you are good to go. it is important to learn how they work for effective results, trading bots are costly but effective, some of the best trading bots are pionex, crypto hopper, and bits. gap




TOP 5 CRYPTOCURRENCIES YOU SHOULD INVEST IN


1. BITCOIN

Bitcoin price:$29,130

Market cap: $555 billion


Bitcoin is the no 1 innovative payment network, and a new kind of money. 

it is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. 

it is one of the most productive crypto exchange platforms, click the link to sign up, https://bitcoin.org/en/getting-started.


2. Ethereum


Market cap:$215B

ETH Price: $1,790


Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, Ether is second only to Bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin.


3. TETHER

Market cap: $72B

Tether price: $1.00


Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies digitally. Tether works to disrupt the conventional financial system via a more modern approach to money. Tether has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies (a familiar, stable accounting unit), Tether has democratized cross-border transactions across the blockchain.


4. U.S DOLLAR COIN

Market cap: $53B

USDC Price: $1.00


USD Coin is a digital stable coin that is pegged to the United States dollar. USD Coin is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase and Bitcoin mining company Bitmain, an investor in Circle.


The fastest, easiest way for businesses to access and use USDC is through a free Circle Account and via our leading suite of Payments, Payouts, and Accounts APIs. This innovative, digital-native payments and treasury infrastructure can power businesses of all sizes across multiple blockchains, reducing costs and settlement times while expanding reach to millions of new customers. 


5. BINANCE

Market cap:$47B

BNB Price:$290

BNB is the cryptocurrency coin that powers the BNB Chain ecosystem. As one of the world's most popular utility tokens, not only can you trade BNB like any other cryptocurrency, but you can also use BNB in a wide range of applications and use cases.


As mentioned, BNB has many use cases both within the BNB Chain ecosystem and elsewhere, so it is up to you to decide how to use your BNB. For instance, you can use BNB to pay for your travel expenses, buy virtual gifts, and much more. We estimated that millions of BNB had been consumed by users for travel expenses, payment of goods, lending, rewards, creating smart contracts, and other transactions.






HOW TO BUY CRYPTOCURRENCY 



Buying cryptocurrencies is one of the most crucial steps to take because tons of crypto platforms are not okay to trade with.


1. select a broker or crypto exchange

The first to buy a cryptocurrency is to choose a broker or crypto exchange, there are many crypto exchanges, A crypto exchange is a platform on which you can buy and sell cryptocurrencies like Bitcoin, Ethereum, litecoin, and others.


2. create an account:

The next thing to do after choosing a crypto exchange is to sign up on the platform, take Bitcoin for an example after signing up, a verification link will 

 sent to the Gmail you signed up with, so make sure your details are correct.


3. Deposit cash for investment:

Depositing of cash is the next step, on your device after you have created an account choose to buy crypto and select cash deposit you can pay through any means like bank cards, then enter the amount you wish to deposit.


4. place your order and choose a storage method: 

After you deposit your cash, place an order on the amount you wish to purchase and choose a storage method, how to keep your crypto will be explained below.



HOW TO STORE CRYPTOCURRENCY


Storing your cryptocurrency is important, and the most secure way to store is via wallet also known as cold storage, your cryptocurrency also rises and decreases during storage.

Here are the best wallets to store your crypto.

1. Ledger

2. Trezor

3. Exodus

4. coinbase

5. Spectrum

6. Mycelium


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