When you, respected viewer, saw the title of the video, you maybe thought, that whole our team got little bit crazy. Income from cryptocurrency? Are you kidding? Did you see how it was going down during previously year?
Of course, we saw. At first, it was last year. Who says that the next one will be the same? Second, nobody canceled the record straight that the crisis in any market it`s the best time for earning. Today we will talk how to get money in cryptoworld and where it's better do not even try.
Investing
If you think that cryptocurrency investing implies a simple scheme: buy today and get more tomorrow, this way of earning is exactly not for you, no offense. It was not like this in the last year when crypto market was falling during all 365 days and it was not like this even in 2017 at the end of which bitcoin got its present record in 20 thousand dollars.
For incoming from crypto investing three points must done. First – have enough time, a couple hours of your time every day to get to know the market, to understand how stocks and exchangers work, to choose perspective points and follow them. The best choose for beginners is bitcoin and if you prefer a lot of X, then look at altcoin, especially out of top ten. But remember, the more potential income means the higher risk to end up with nothing.
The second condition - free availability of funds to buy cryptocurrency. Don't lend money under any circumstances, spent last few cents or sell something important. Crypto market is not a bank where you can get your money back even without any percent. There is a big chance that investing in the short term will be worthless and incoming will be waiting for half year, year or even a couple years.
The third condition for crypto investor is psychological resilience. It is needed to not become a victim of market manipulation and to keep previously scheduled investing plan. It implies the enter into the market for a certain price and exit when you get planned profit. You should not be too greedy, it makes a risk to lose a right moment and have been well down.
You have watch till this moment and you sure that you fit the parameters. All that's left is to get to know when bitcoin should be bought. We can recommend you to watch our other videos on the channel with analysis of value bitcoin and outlook for the next 2019 but it's only analytics, not a precise plan of action. Information in such videos is not financial recommendation, it just helps you to learn understanding and making your own decision.
Trading
If there is no wish to wait for a long time potential income and you want to get money there and right now, you could try to trade cryptocurrency on stocks.
Traders can earn as on up as on down. For them it's important the prices vary constantly. That's why cryptocurrency with high volatility, when the price can change on 5, 10 or even 15 percent during the day. This is an ideal choose. They make deals aimed for the short items (from a couple hours to the few days). The income can be very modest but owing to a numerous of trades income must be pretty good. Of course if only trader has enough money on the deposit and it's possible to close positions earning a profit.
Important to remember, if you are not well in investing there is no sense to think about crypto trading. Because this occupation needs more time and knowledge. And the percent of traders that get constantly income is very small. Mostly of they think only they know everything and lose the money regularly, in the best case breaking even.
Mining
Miners are in the really difficult situation now. Only few of them keep floating and get some income. A lot of them have been forced to stop cryptocurrency mining at the end of last year and the beginning of 2019 doesn't augur well. But it is not ready to be put out to pasture. It didn't die, just start to look like long-term investment. As we said, it's not possible to get income right now but it's possible to save up with a view to future market up.
For the right measuring let`s divide miners into present ones and a part who thinks about such way of incoming. For the first group it's important to ride out a hard time and find out the optimization of mining. We showed it in details in one of our videos, use the URL.
But for beginners it's quite good time for creating detailed business-plan and mining-farms gathering. The cryptocurrency is on the bottom or close to it and it good time for measurement cost effectiveness as accurately as possible. The prices of media cards ASIC-miners felt down obscenely. Sell-outs are not only at the on the secondary market but also from the factory. But don't hurry up to the shops before you count all accurately to be sure you will get the income.
There is no money
We have told about the ways to get income. Let's tell now where is not money in the crypto market, at all. Let's start with ICO. Because of crypto market down and also because of scram, incompetence of startups this area was wiped out completely.
Tokensales are rear and fees all below. The main thing is that now even good project has very low chance to finish its work and to make the investors happy with X on tokens. At the market there are only the most lucky and the most experienced members. Even they try to buy coins after entrance to the stocks, it's cheaper. Then they sell them out for the first good case.
Crypto airdrops and faucets are one more relic of last year. They are still theoretical working and it's possible to get some digital coins to the wallet. But practical they give very little and mostly useless lame. That's why maximum from such things is getting practice of using wallet.
And the last one place without fish and, pardon, without money is fiduciary management and the channels with signals. We don't say that all of invitation to take your crypto currency and multiply it or sells of trading strategy are just scammers. But mostly of them are exactly!