Many Ways To Make Money in Cryptocurrency

[Dr.Bitcoin_Strange]

I got to know cryptocurrency when Bitcoin price reached 63,000 USD and I was interested in knowing how to get Bitcoin for free and it turned out that the steps to get Bitcoin were very difficult. I noticed many people trading, investing, airdrops, bounties, testnets and various ways to get Bitcoin.
Maybe I can only conclude for now that getting Bitcoin is very difficult unless you want to get altcoins, it is very easy and the risk is that altcoins are often scams.

The most reliable ways to get Bitcoin for free is through mining, but like you said, it’s not something everyone can do, setting up a good mining equipment, plus the amount of power to consume, not everyone would have the luxury of going through such difficult process. Another way I believe people can earn free Bitcoin is through staking your BTC, some exchanges and establishments makes availability for people to stake their Bitcoin for a period and earn annual interests, although this may not completely be a very safe way to earn free Bitcoin due to the level of risk involved. Since you’re trusting your coin in someone’s hands.

The best and reliable way to earn Bitcoin is through gradual and steady buying using the DCA strategy, you can buy in sats and HODL for the long term while you allow it to grow overtime.

[Report]

I got to know cryptocurrency when Bitcoin price reached 63,000 USD and I was interested in knowing how to get Bitcoin for free and it turned out that the steps to get Bitcoin were very difficult. I noticed many people trading, investing, airdrops, bounties, testnets and various ways to get Bitcoin.
Maybe I can only conclude for now that getting Bitcoin is very difficult unless you want to get altcoins, it is very easy and the risk is that altcoins are often scams.

The most reliable ways to get Bitcoin for free is through mining, but like you said, it’s not something everyone can do, setting up a good mining equipment, plus the amount of power to consume, not everyone would have the luxury of going through such difficult process. Another way I believe people can earn free Bitcoin is through staking your BTC, some exchanges and establishments makes availability for people to stake their Bitcoin for a period and earn annual interests, although this may not completely be a very safe way to earn free Bitcoin due to the level of risk involved. Since you’re trusting your coin in someone’s hands.

The best and reliable way to earn Bitcoin is through gradual and steady buying using the DCA strategy, you can buy in sats and HODL for the long term while you allow it to grow overtime.

I will summarize your statement as below:

• Mining Bitcoin
• Stake Bitcoin di Exchange
• DCA system

Of the three that you mentioned above, all of them are paid and use capital, while for my own capital I do not have money to buy Bitcoin. Many say that other members get Bitcoin from Bounty or Airdrop. But they also say that Bounty is now difficult and Airdrop also very rarely produces Bitcoin.
If I have capital and funds, I think I will use the method that you said is "Stake Bitcoin", I will prefer the local market to secure my assets and even better if the head office of the exchange is near my house.

[Dr.Bitcoin_Strange]

I will summarize your statement as below:

• Mining Bitcoin
• Stake Bitcoin di Exchange
• DCA system

Of the three that you mentioned above, all of them are paid and use capital, while for my own capital I do not have money to buy Bitcoin. Many say that other members get Bitcoin from Bounty or Airdrop. But they also say that Bounty is now difficult and Airdrop also very rarely produces Bitcoin.
If I have capital and funds, I think I will use the method that you said is "Stake Bitcoin", I will prefer the local market to secure my assets and even better if the head office of the exchange is near my house.

Yeah right now, Bounties and Airdrops are currently the most difficult options to consider for people who wish to earn free crypto, because lots of fake and scam projects have flooded the crypto market, and with tons of them out there, it’s pretty difficult to tell which is for real and which is fake, you may end up participating in over 10s and 20s of airdrops and bounties and still end up getting nothing but disappointment and regret for wasting your precious time.

And, you really don’t have to wait till you have so much money before you can go into Bitcoin, if you’re working or have a stable income, you can set aside just a small sum to DCA, it’s just like saving money on a piggy bank or something, and if you continue consistently, you’d be pretty surprised with how much progress you’d make in the long run.

[albon]

First of all, investment strategy should be kept in mind Investing in cryptocurrencies for the long term is an ideal strategy buying and holding one of several popular cryptocurrencies is a good strategy. Coins like bitcoin and ethereum are volatile in the short term but profitable in the long term.
On the other hand, you can earn money from crypto by working on various airdrops, bounties. Then there are social media platforms and many of those companies reward those who create and host content for them with the platform's native crypto coins.
There are also mining related strategies and currently the most discussed topic is the strategy of earning money from telegram tap tap game. If you practice some strategies to make money in crypto you will get good profit.

[Report]

I will summarize your statement as below:

• Mining Bitcoin
• Stake Bitcoin di Exchange
• DCA system

Of the three that you mentioned above, all of them are paid and use capital, while for my own capital I do not have money to buy Bitcoin. Many say that other members get Bitcoin from Bounty or Airdrop. But they also say that Bounty is now difficult and Airdrop also very rarely produces Bitcoin.
If I have capital and funds, I think I will use the method that you said is "Stake Bitcoin", I will prefer the local market to secure my assets and even better if the head office of the exchange is near my house.

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And, you really don’t have to wait till you have so much money before you can go into Bitcoin, if you’re working or have a stable income, you can set aside just a small sum to DCA, it’s just like saving money on a piggy bank or something, and if you continue consistently, you’d be pretty surprised with how much progress you’d make in the long run.

Unfortunately, to use this DCA system requires a stable income and this is very difficult for me because I only work as a private laborer whose daily income is uneven or uncertain. Unless maybe my job is stable and I get a flat salary every month then I can definitely do DCA to buy Bitcoin. It's also hard now because getting free Bitcoin is not easy and may be very different from a few years ago when Bitcoin was still cheap, with a nominal of 10 dollars you can get 10 Bitcoin.

[Dr.Bitcoin_Strange]

Unfortunately, to use this DCA system requires a stable income and this is very difficult for me because I only work as a private laborer whose daily income is uneven or uncertain. Unless maybe my job is stable and I get a flat salary every month then I can definitely do DCA to buy Bitcoin. It's also hard now because getting free Bitcoin is not easy and may be very different from a few years ago when Bitcoin was still cheap, with a nominal of 10 dollars you can get 10 Bitcoin.

You’re right. You need a stable income source because you’ll need to first of set up an emergency or back up fund before you proceed into your Bitcoin accumulation journey, the reason for this backup fund is to, as the name implies, offer backup for your investment against future and subsequent emergencies that may likely arise in the future. Emergencies are inevitably part of the human lives and whether we like it or not, they’ll arise and we need to prepare for them. If we fail to set up a backup fund and proceed into Bitcoin accumulation, we’ll be forced to dip into our investment for financial support whenever these emergencies arise, and this is definitely bad for the growth of your investment.

[Gurujebs]

Unfortunately, to use this DCA system requires a stable income and this is very difficult for me because I only work as a private laborer whose daily income is uneven or uncertain. Unless maybe my job is stable and I get a flat salary every month then I can definitely do DCA to buy Bitcoin. It's also hard now because getting free Bitcoin is not easy and may be very different from a few years ago when Bitcoin was still cheap, with a nominal of 10 dollars you can get 10 Bitcoin.

DCA doesn't really mean you need to have a stable source, you can have your money with you to buy Bitcoin but because the price is probably high, you might want to wait to buy if the price get lower. It's best you just buy small for that time and then keep the rest of the money when the price get lower because Bitcoin can't go up forever.

However, DCA is best suitable for long term, there is no way you can enjoy making money with DCA because you have to wait for any opportunity to buy Bitcoin and that retention time might be monthly even quarterly, this will make it longer time before you will get back your money you invested.

[taufik123]

-snip-
Emergencies are inevitably part of the human lives and whether we like it or not, they’ll arise and we need to prepare for them. If we fail to set up a backup fund and proceed into Bitcoin accumulation, we’ll be forced to dip into our investment for financial support whenever these emergencies arise, and this is definitely bad for the growth of your investment.

Everything really has to be managed well about the reserve money you have, but of course it is not easy when the reserve money has run out to buy every accumulation that occurs.

The support of additional money will only be done when it is really in an emergency or when the price of the coin we are buying drops drastically.

But when I don't have any spare money or extra from my income, I won't buy it anymore.
I will just look at the market and pray that a reversal will happen soon.
It really takes funds to be used for such an emergency.

[Dr.Bitcoin_Strange]

Everything really has to be managed well about the reserve money you have, but of course it is not easy when the reserve money has run out to buy every accumulation that occurs.

The support of additional money will only be done when it is really in an emergency or when the price of the coin we are buying drops drastically.

But when I don't have any spare money or extra from my income, I won't buy it anymore.
I will just look at the market and pray that a reversal will happen soon.
It really takes funds to be used for such an emergency.

When I say Emergency Fund, I'm talking about funds kept aside for emergency buys or unexpected dips (if that's what you're insinuating) I'm talking about money kept aside, not for investing or buying more Coin, but kept specifically to take care of real life emergencies, like paying for hospital bills, car repairs and other unexpected turn of events that may require immediate financial attention to avoid using money from your investment to sort out those emergencies, thereby providing back up for your investment. That's what I mean by backup or emergency fund.

[Tribalchief]

~snip

DCA doesn't really mean you need to have a stable source, you can have your money with you to buy Bitcoin but because the price is probably high, you might want to wait to buy if the price get lower. It's best you just buy small for that time and then keep the rest of the money when the price get lower because Bitcoin can't go up forever.

It sounds like waiting to buy a dip, which is not a DCA strategy IMO. DCA simply means buying something with a fixed amount, and we all know how the market works in terms of volatility. The reason why I might not want to encourage waiting for a lower price is because it sometimes leaves us stranded in making decisions on the perfect time to buy. Even if someone gets a lower price, there would be an urge to wait for something lower than the lower price, which at the end.of the day, the person might fail to take a decisive step, and ends up spending the money.

However, DCA is best suitable for long term, there is no way you can enjoy making money with DCA because you have to wait for any opportunity to buy Bitcoin and that retention time might be monthly even quarterly, this will make it longer time before you will get back your money you invested.

Maybe this is why the stable income works well with it. As long as ones income keeps coming with no constraints, then it is suitable for long term. And again just like others have said, the most important thing is planning(management of income).

[Gposas]

The Crypto world is a very large space and there are many ways of making money from it wether massively or little by little as the case may be.
The most popular way of making money is what OP stated which are; trading and Holding. But it's obvious that the trading is based on knowledge about market trends.. holding seems more friendly but one still have to comprehend what kind of asset worth holding.
Investing on presales is another medium of making money even massively but where the issue lies is to see a genuine project to invest on its presale.
It's certain that 95% projects presale price are far lesser than the listing price on Centralized Exchanges and those who were able to buy on presale are to increase their portfolio on listing.
Another is launchpool where users can stake a particular tokens which is mostly the native tokens of a certain Centralized Exchange or stable coins like USDT in order to earn new tokens entering the Crypto market for trading.

[Z-tight]

holding seems more friendly but one still have to comprehend what kind of asset worth holding.

That is true, so many people talk about holding and go on to hold just any coin, in the hopes that they will become rich through it. The truth is that only a few coins are worth holding, BTC and maybe one or two others, you might be lucky with new coins, but it is not smart to hold them for the long term.

[Report]

Unfortunately, to use this DCA system requires a stable income and this is very difficult for me because I only work as a private laborer whose daily income is uneven or uncertain. Unless maybe my job is stable and I get a flat salary every month then I can definitely do DCA to buy Bitcoin. It's also hard now because getting free Bitcoin is not easy and may be very different from a few years ago when Bitcoin was still cheap, with a nominal of 10 dollars you can get 10 Bitcoin.

-
If we fail to set up a backup fund and proceed into Bitcoin accumulation, we’ll be forced to dip into our investment for financial support whenever these emergencies arise, and this is definitely bad for the growth of your investment.

As far as I know, something that is forced will not be able to provide beautiful memories or produce something profitable. In this life, if we work for real but are full of coercion, the results will certainly not be satisfying. For investing in Bitcoin, we also cannot force it with the funds we have and I also don't want to force myself to force buying Bitcoin for investment.

Unfortunately, to use this DCA system requires a stable income and this is very difficult for me because I only work as a private laborer whose daily income is uneven or uncertain. Unless maybe my job is stable and I get a flat salary every month then I can definitely do DCA to buy Bitcoin. It's also hard now because getting free Bitcoin is not easy and may be very different from a few years ago when Bitcoin was still cheap, with a nominal of 10 dollars you can get 10 Bitcoin.

-
However, DCA is best suitable for long term, there is no way you can enjoy making money with DCA because you have to wait for any opportunity to buy Bitcoin and that retention time might be monthly even quarterly, this will make it longer time before you will get back your money you invested.

As far as I know, DCA is also used by investors for long-term investment so that for investment in Bitcoin with the DCA system, everyone must know what the risks are. Although it will feel very long, it will certainly provide satisfactory results and profits because as far as I know, Bitcoin's supply is limited, while there are many enthusiasts.

[Z-tight]

As far as I know, DCA is also used by investors for long-term investment so that for investment in Bitcoin with the DCA system, everyone must know what the risks are.

Yeah, dca is a strategy used by long term investors, and the risk in terms of market or price volatility is low. I usually recommend dca to anyone who is just starting their BTC journey, there is no reason to by everything all at once, when you can buy slowly and still build up your portfolio.

[LogitechMouse]

Unfortunately, to use this DCA system requires a stable income and this is very difficult for me because I only work as a private laborer whose daily income is uneven or uncertain. Unless maybe my job is stable and I get a flat salary every month then I can definitely do DCA to buy Bitcoin. It's also hard now because getting free Bitcoin is not easy and may be very different from a few years ago when Bitcoin was still cheap, with a nominal of 10 dollars you can get 10 Bitcoin.

Nowadays, there's no such thing as "free lunch" already. What I'm saying is, there's no such thing as "free Bitcoin" right now because we're not in the years where faucets are big enough for us to get free tokens.

DCA is really hard for somebody that doesn't have a stable income "UNLESS" his income despite being unstable is more than enough to cover your monthly expenses plus you have spare money that you can use to invest into Bitcoin but aside from that, you will be having a hard time doing this strategy. If you really want to invest into Bitcoin, I guess this is the time for you to find a more stable job instead of being a private laborer. I'm not saying that your job isn't good especially if it feeds your family, but if your desire to buy Bitcoin is way bigger then maybe find a more stable job, or you can also stay as a private laborer, but find another income source.

Anyway, good luck with you and I hope you find a way to do DCA.