The global pandemic has left the world in turmoil and posed a high risk in its economy. Unemployment services might get extended as the source of income is slowly going down. For the people who are dependent on a daily wage, the challenge is even harder and bitter.
If you are struggling to make ends meet and are always hit by questions about where to go and what kind of help is available, cryptocurrency might be your answer. You can buy cryptocurrency online, then sell and earn profit from it. You can invest some of your extra hours sitting at home and safely earn passive income. Here are some practical ways to make cryptocurrency online during the lockdown.
1. Stake Mining or Bitcoin Mining
Have you ever thought of earning money through virtual currency? Bitcoin, or BTC, is a virtual currency whose value depends on its demand and supply.
Now the question might be, how does one earn money using Bitcoin? The simple and straightforward answer to this is: buy Bitcoins when their value drops and sell them when their value rises. The extra amount that remains will be your profit. Go check out Bitcoin Era Online Sweden for more in-depth information regarding the money of the future.
Cryptocurrency mining is an excellent way to add a passive income source to your life. One of its many benefits is its seamless way of acquiring cryptocurrency. In addition to this, online purchasing has made it easy to buy.
Mass online investment to earn cryptocurrency determines the price of Bitcoin. When the number of transactions per day increases, its value rises due to the rise in demand. Now unless there is an absolute increase in this value, the investors won’t get any profit. Hence, there won’t be any selling of Bitcoins, and their value drops as a consequence. This is the simplified algorithm of the basic structure and functioning of Bitcoin.
Research the coins you want to stake. The more coins you have, the higher the probability of stakes. Keep in mind to buy Bitcoin according to your capacity. Due to the advancement in technology and more tech dependency, some online stores also accept Bitcoins as payment. You can also transfer the amount to your bank account.
2. Day Trading
One of the most popular trading strategies out there is cryptocurrency day trading. It is quick-paced trading that takes place over a single day. Though it is not for beginners and would require a lot of concentration, do not get taken aback by this.
In day trading, traders have to conduct their trade during the day and close them by night. There are several different strategies when approaching day trading. Keep in mind to buy crypto from a safe exchange, stick to your policy, and keep your portfolio diverse. The uncertainty of the market is too high to only stick with one plan of action.
YouTube is another source of earning cryptocurrency. If you have a passion and want to share it with the world, then YouTube is just the platform you are looking for, and lockdown is the best time to invest in your videos. To top it off, you can earn from this as well. All you need is a YouTube channel, a decent number of subscribers, and as many views as possible.
Pick a topic. Your content can entirely be according to your interest and taste. For instance, if you are a tech enthusiast, start with gadget reviewing. If you have a nag for cooking, you can arrange your home-cooking show. If you are keen on throwing puns and making people laugh, shoot an entertainment video. If you are passionate about traveling, you can also create your travel vlog.
Traffic will eventually rise once you regularly start posting videos. When your channel reaches out to more people, the number of subscribers will increase, increasing views. Thus you can earn online from YouTube.
To be more specific, the money that YouTube gives mainly comes from AdSense, which is an advertising publishing company. The more popular the channel, the more advertisements were shown, and thus the more your income.
4. Affiliate Marketing
Amazon, Snapdeal, Flipcart, Ali Express, and many other shopping websites all have an affiliate program. You can refer anyone, a family member, a friend, or even a stranger, and then if he or she buys the product from your generated link, you can earn a percentage from this.
Books, fashion accessories, and gadgets can get your percentage higher. If you already have your online community, then you already have an audience. You can utilize the platform for affiliate marketing and also become an affiliate member of Amazon or any other diverse shopping websites.
5. Website, Blogging, and Freelancing
Do you have a nag for logo designing, video editing, or maybe data compiling? If you can do some extra work online, you can earn money.
To simplify this, start blogging or freelancing by creating your website. Freelancing offers flexibility. You can either create the site free of cost through Google Blogger or spend some money and start your blogging network. From there, you can choose any service. Later, the blog can be linked to Google AdSense. With daily posts and an increase in traffic, AdSense will show advertisements, letting you earn money online.
6. Short Links Earning
You may have seen a lot of users post short links. Usually, the size of any URL link is quite lengthy, but if you put a quick connection, it can help you earn cryptocurrency even by staying at home.
The main idea here is to get your link shortened by some dedicated websites. Once the user clicks on the short link, they will be directed to an advertisement page first. From there, the user can skip the ad and go to the actual website.
In short, to beat the financial crisis stroke started by pandemic, passive income in cryptocurrency can be a breath of fresh air. You can earn some extra money by utilizing your time at home during the lockdown. And within a short time of being constant, you can master the ins and outs of this. Online income allows the general mass to slightly cope with the economic standstill.