• Blog
  • News
  • Possible Ways of Making Money with Ethereum Crypto
Possible Ways of Making Money with Ethereum Crypto - Binaryx
News

Possible Ways of Making Money with Ethereum Crypto

Ethereum cryptocurrency (ETH) is a digital asset based on an updated decentralized blockchain system. It is considered as a profitable option for long-term investments and in terms of popularity is second after the Bitcoin, but unlike it, it has a lower cost today. Moreover, the initial purpose of this project was to create a decentralized system on a blockchain, as well as a platform to create decentralized applications, better known as dApps.

Since this project has started, many cryptos- and blockchain enthusiasts were waiting for outstanding results. Indeed, Vitalik Buterin and his team did tremendous work, and nowadays, Ethereum is one of the most popular cryptocurrencies and blockchain platforms. 

There are several ways how to make money on Ethereum, including investing, trading, buying/selling, as well as mining. In this post, we will review the most convenient ways. 

How to Get Ethereum by Investing No Money

Unfortunately, most people like to waste their time on some questionable activities which allow them to earn or make a small amount of money. In terms of cryptocurrency activities, we can underline one and the most toxic – the cryptocurrency crane. 

What is that? A cryptocurrency crane is a specialized advertising website that gives out a user small amounts of cryptocurrency. Most often, this is satoshi, which is one hundred millionth bitcoin (0,00000001 BTC). Access to this website is free and open for any user. When it comes to ethereum crypto, a similar approach already exists. 

People create websites, where you can earn a small amount of Ethereum coins by performing small tasks. While many people proved that this process is not a scam, yet this is the latest way to earn money with Ethereum.

HODL is The Best Tactics for Many Cryptocurrency Fans

The cryptocurrency community is a special and unique place where many ideas, phrases, and concepts can exist without any doubts. Many users by trying to understand the cryptocurrency market made a lot of mistakes, and later they knew how to continue investing in digital money. Of course, the main process was around Bitcoin. For example, one user once stated that he bought enough Bitcoins and now his main strategy is HODLING. 

It was obvious that he made a mistake by typing the word, but the community did not even give a single chance to let it go. The viral effect of this phrase instantly created an independent process or activity rather than a word. From those days, HODLERs are people who are buying cryptocurrencies and waiting for the price to up, regardless of timing. Some are ready to wait for months just to make a profit.

Ethereum cryptocurrency hodlers had their best time during 2017-2018 – when the price reached the highest level in the current history – $1,432.88 USD (January 13, 2018). Those who bought it at the price level of $200-300 made huge profits, however, the price, under the influence of further circumstances of the cryptocurrency market decreased significantly. 

Trading Ethereum on Exchanges

The eth cryptocurrency trading is a traditional way for most crypto traders, and nowadays they can trade on many exchange platforms, regardless of their location.

The bottom line is to buy coins at the lowest cost (during the decline) and sell at the maximum (during the rise). However, such a process only at first glance seems simple and accessible to each user. In fact, before you can earn Ether by trading, you need to carefully study all the nuances of this work, as well as constantly monitor the course, the ethereum index and anticipate its fluctuations depending on economic, political and other factors. 

In addition, you need to choose a reliable exchange and understand the rules of work on it.
The latest trend which is popular among many traders is social trading. This way allows users to analyze the ethereum price 2019 by using professional traders and their opinions.

For example, while many users are looking for coinbase ethereum trading, Binaryx is a cryptocurrency exchange that allows users not only buy and sell Ethereum but also follow the best cryptocurrency traders by using their profiles and market’s performance. 

Mining Ethereum

Since cryptocurrencies exploded the community by entering the market in the most stylish way, mining was one of the ways to get digital coins. Apart from traditional mining activities, later some companies came up with an idea to provide with cloud mining services. In a nutshell, instead of buying mining hardware – you could rent it from third-parties by signing an agreement, in which you were obliged to pay fees based on your earnings.Nowadays, the status of mining has decreased since many miners explain that it is not worth to invest in hardware. Moreover, several experts tend to believe that the cryptocurrency ethereum price is expecting to face many consequences after the upcoming fork – or the halving of the Ethereum system’s blockchain.