Making money, your own money, was the promise with which Satoshi Nakamoto launched Bitcoin to the world. Imagine the surprise of early techies to find that they could actually “make” digital currencies with their computers just by downloading software. Although, of course, at the beginning that could not be called “making money”, far from it. When Nakamoto mined the first bitcoins, their value was zero.
According to the history of Bitcoin, the first time BTC came out of “absolute zero” was in October 2009. On the 12th of that month, programmer Martti Malmi, a Nakamoto collaborator, sold 5,050 bitcoin coins for $5.02. Doing a simple calculation, we will see that each bitcoin was worth only USD 0.0009. Just like all those cryptocurrencies now that are worth pennies on the dollar.
Make Money The Crypto Way
The truth is there are several ways to make money when it comes to cryptocurrencies. At one time you didn’t have to do anything, or almost nothing, to earn a few satoshis. The so-called Bitcoin faucets (faucets) were places where they practically gave you cryptocurrencies. Before receiving them, you only had to perform a simple task. Solve captchas, for example.
Currently, there is still one or another cryptocurrency faucet out there. One of the best known is Freebitcoin. The site offers to engage in various activities with the idea of earning fractions of BTC. Or modest amounts of other cryptocurrencies. In the labyrinth of the internet, we can find faucets of currencies like Ripple, Steam, Tron, Cardano and others.
To make money with a crypto faucet you have to be patient and not be convinced by offers to multiply your earnings. Patience, because the amounts you earn are minuscule, but you start with something.
Crypto faucets also often offer tempting options to double the satoshis earned or bet on bigger prizes. Before risking, remember that “the house always wins”. Another way to get hold of cryptocurrencies is to receive their thanks to airdrops. Airdrops of digital currencies are a less frequent practice now.
For advertising purposes, some cryptocurrency startups used to do these massive free coin distributions. To be eligible, you had to register a wallet address and wait for your luck. Airdrops generally give out much larger amounts of crypto, compared to what you get on faucets.
Making Money in Serious Way
Now, this is a slightly more serious field, where making money with cryptocurrencies requires a minimum of skills. Crypto trading, as they say, “is not for everyone”, although many are attracted to it. It just so happens that trading virtual currencies are the best and most risky way to make money with crypto. Exchange platforms are, in fact, the epicentre of all activity in the virtual currency ecosystem. According to CoinMarketCap, there are some 431 exchanges in operation today.
It is in them that it is decided whether the price of a currency goes up, or goes down. “It is decided” metaphorically since there are several factors that influence the market value of crypto. But then again, making a profit from crypto trading takes time.
Digging For Crypto
Contrary to what some think, home cryptocurrency mining has not disappeared yet. But crypto mining at home is not what it used to be. Now, it is not possible to mine Bitcoin using your desktop computer. To make a profit by mining at home, you need to invest in specialized equipment, have the right space, and have the knowledge to manage the mining operation.
There are different types of cryptocurrencies in the market at present time. The regular cryptocurrencies are being followed by some fun cryptocurrencies known as meme coins or meme tokens. These are a fun part of the crypto world that is based on jokes and memes floating on the internet. They have the potential of earning a handsome amount of money in a fun way.
Making money in the crypto market has gone through a long way and now has multiple directions to it. Meme tokens are one part of this huge money-making market. The meme token have a few cryptocurrencies that do not require as much initial expense to start the activity. Check out the market and also visit hokk.finance to follow the market trends and get informed of the latest ups and downs of the crypto world.