Bitcoin cryptocurrency how to earn – I will try to tell you so that it is clear to everyone how to earn bitcoins in 2022, in the context of the coronavirus pandemic.
Investors and specialists believe that at this point in time, investments in cryptocurrency, in particular bitcoin, are very popular, and therefore such questions are –
Read below how to handle cryptocurrency correctly, how to trade, how and where to invest, which cryptocurrency to choose, how to save your money and more.
Step #1: Decide on goals and priorities – why do you need to invest in cryptocurrency and what do you expect from it.
Why did you ask such a question bitcoin cryptocurrency how to earn? Not all, but many investors think only about their earnings.
Others trust innovation, blockchain technology. They are happy to invest their accumulated funds in virtual currency (bitcoin, ethereum, etc.)
So, bitcoin cryptocurrency how to earn in simple terms
Are you just a newbie trader? Then you should study very well the field of activity in which you are going to invest your hard-earned real money.
Many, especially beginners, completely forget when entering the cryptocurrency business that this work is associated with very high risks.
- So big that you can lose everything just trying to answer the question, how to earn cryptocurrency.
The sphere of virtual currencies, trading – all this does not give you any guarantees, it is a very risky business.
The main advice of traders is that it is better to invest the money that you are ready to lose, and if you have domestic problems with paying your electricity bills, then you better postpone buying cryptocurrencies.
Do not be upset if you have lost some revenue, you just need to remember that the cryptocurrency industry is a great potential, and everything can turn for the better.
Step #2: You need to study this topic very well and scrupulously. It will be hard to learn, but then it will be easy!
You should understand this area very well, prepare yourself if you want to learn where to earn cryptocurrency. Since you will find a huge number of “pitfalls”, various questions and so on.
Try to calculate everything to the smallest detail, evaluate all the risks, predict the approximate profit, and so on.
Suppose you have already chosen a virtual currency for yourself, then ask yourself the following questions:
- What will I get from this investment, what will be decided?
- Which famous people have already invested in this business?
- What methods are involved in the mining of bitcoins and other cryptocurrencies and how does it all happen?
- What kind of programs or applications are needed to operate with virtual currency?
- Security or utility token?
Have you answered all the questions above? What’s happened bitcoin cryptocurrency how to earn the whole truth – perfect!
Now you have an idea about what a cryptocurrency is and how to work with it, that is, earn money on it. If you don’t get an answer, don’t worry, keep looking!
Step #3: Start with those exchanges that have already established themselves in the market
If you want to earn cryptocurrency, then you first need to buy it on one of the exchanges (there are several of them). They are slightly different from each other.
All exchanges are different. Some have 5 cryptocurrencies, others have 250. There are no exchanges where there are absolutely all existing virtual currencies.
One of the most successful services for selecting currencies and exchanges is coinmarketcap.com.
You need to select a cryptocurrency and go to the Markets section to select an exchange where there is a selected crypto asset. The most trusted ones are Bittrex / Coinbase / Binance and Bitfinex.
Those exchanges with which you will extract virtual money must be completely safe. And check all limits on withdrawal and deposit of funds. It is very important.
Step #4: How to make money on the cryptocurrency exchange – must be purchased first
When choosing an exchange for yourself, the most important thing is to pay special attention to the interface. It should be simple and understandable.
You should immediately understand which buttons to press and where to look. If nothing is clear, close and look for the next one.
Buying cryptocurrency is not difficult. Look for the desired asset, click on the Buy button. You also need to have your own personal crypto wallet, because when you store tokens, you cannot take full control of your assets.
Step #5: Create your own personal wallet to store your assets in.
You can access your personal wallet using a special private key. With it, you can manage all the funds in the wallet.
There are two types of wallets in nature: online and offline. Type 1 is browser add-ons or in the form of mobile applications.
Type 2 is the physical form of wallets that are always with you, such as Ledger Nano S. These wallets look like a USB flash drive.
Step #6: Secure all your data, don’t flash your keys and email addresses.
You need to instantly do two-factor authentication when you log into accounts that are connected to your cryptocurrency funds.
- Do not console yourself with hopes that by adding only one new character to your old password, you will thus protect yourself from hackers hacking … ..
You will be hacked in a matter of hours, thanks to modern technology. Come up with a complex and strong password that only you will know.
If you want to answer a question Bitcoin cryptocurrency how to earn bitcoin from scratch without attachments, then read on this article.
Be sure to include a notification that the exchange was entered from your account. Since if someone hacks you, you will receive a notification about this, that is, you will not enter the exchange on your own behalf.
Step #7: Once you secure your personal account, secure the devices you use (tablet, laptop, desktop, etc.)
All devices: desktop computers, ultrabooks, netbooks, tablets, smartphones – everything must be very well protected. Set a password at the entrance to Windows, Linux
If you have a smartphone, be sure to set up your fingerprint login. This is the most reliable way to secure your gadget.
Step #8: Keep a record of all income and expenses.
It seems like unnecessary red tape, but trust me, it’s important. So you will know how much has come, how much has gone. Get yourself a spreadsheet in Excel, for example, and keep your records of all funds there.
Step #9: Bitcoin cryptocurrency how to earn – Install an application on your smartphone that will show all the statistics and the value of your portfolio of cryptocurrencies.
There are such applications as for example – Blockfolio, Coincap. These applications have one advantage – there is no need to confirm data at the entrance and there is no push-pull authentication.
You just need to enter the state of your portfolio and monitor future changes. Don’t forget about the security of your smartphones. Do not leave them anywhere, make sure that gadgets are always with you.
Step #10: Make a competent trading strategy. This will help you start earning faster
Always check the accuracy of any information in the world of cryptocurrencies and bitcoins. Even question messages and notifications from official websites.
There are 2 main strategies in the world: 1) Trading, 2) Holding.
- Trading is trading for just a few days or a week. Holding is something that can hold tokens for a long time, for a year or even more. And then, at the right moment, to sell the most profitably.
Think in advance of the scenario when your chosen cryptocurrency will decline and depreciate. Know how to get out of this market in time.
One piece of advice – never deal with only one cryptocurrency, always keep several types, one will decline – the other will increase in price. By the way, I think a quite relevant article is where it is better to store cryptocurrency.
If you are interested in reading about mining, in this article I talk in detail about what it is and what it is eaten with.
Now you know Bitcoin cryptocurrency how to earnon the stock exchanges. That’s all I wanted to tell, thank you for your attention!