“I’m here for the technology, not the money”. If you have been in the crypto space for a while, you should come across that phrase as those who have adequate knowledge in crypto mock those that came in to make profits from explosive tokens.
A lot of people get into the crypto market to make money but not everyone gets this right. Some believe that trading especially in futures is the key to making Lambo money in the market. Sadly, this is not the case. In the course of their journey, some people give up after losing all their capital or some lose money to scammers.
There are a few ways you can make money from cryptocurrencies without trading. We will explore three ways you can make money with cryptocurrencies today. Do you want to find out more? Buckle up, we’re about to head for the moon.
Five Ways To Make Money From Cryptocurrencies Without Trading
1. Buy and HODL
This is the most common and easy way of making money in the crypto market. According to CoinMarketCap, there are more than 13,000 cryptocurrencies today such as Bitcoin, Ethereum, BNB, Solana, Cardano, Dogecoin, and so many more. How can you make money from buying and hodling cryptocurrencies?
Cryptocurrencies are volatile. This means that the prices of most cryptocurrencies are not stable. They rise and fall. You can take advantage of this by looking out for cryptocurrencies that maintain a regular price fluctuation. These kinds of cryptocurrencies are regarded as safe investments. Crypto assets such as Bitcoin and Ethereum fall under such a category. There are also hundreds of altcoins that follow a similar pattern. You buy such assets and hodl in a crypto wallet like HaggleX for as long as you can while waiting for the asset to rise in value. When this happens, it’s up to you to keep hodling or sell off your profits.
2. Staking
Staking is another way you can earn money from cryptocurrencies. This involves holding a particular token or crypto asset in a wallet, thus allowing you to earn passive income in crypto for staking that particular crypto asset.
Cryptocurrency staking is a process by which your crypto assets are committed to supporting a blockchain network and confirming transactions.
It applies to cryptocurrencies that use a Proof-of-Stake model to process payments. This is a more energy-efficient alternative to the Proof-of-Work model, which requires mining equipment that uses computing power to solve math equations.
Staking offers the potential for you to double your crypto assets through the extra coins gained and when the price of such crypto-asset appreciates. It is also a great way to use your crypto to generate passive income, especially because some cryptocurrencies offer high-interest rates for staking
HaggleX will soon launch the Staking feature where users can earn extra income by staking HAG on the HaggleX app.
3. Arbitrage Trading
The crypto market is largely unregulated. This allows for differences in the prices of cryptocurrencies and how each crypto asset is valued in different exchange platforms. Most crypto exchanges decide what the price of a crypto asset is and list them on their respective platforms. This has brought about a slight difference between crypto exchanges about the price of a crypto asset. You can take advantage of this difference to make money off cryptocurrencies through arbitrage trading.
Arbitrage trading is a strategy where you aim to generate profit by simultaneously buying a crypto asset from one crypto exchange and selling it in another. This is possible by trading the same crypto asset on different exchanges. The challenge with arbitrage trading is that the price difference between exchanges is very small and thus profits made from arbitrage trading are small except in situations where you trade large volumes of cryptocurrencies.
Another challenge is not only finding these pricing differences but also being able to trade them quickly. Since other arbitrage traders are likely to see this difference in price (the spread) as well, the window of profitability usually closes very fast.
For example, if you notice that the price of Bitcoin on a crypto exchange is $65,522 and the price of Bitcoin on HaggleX is $65,535. You can buy Bitcoin from that crypto exchange and sell them off on HaggleX and make profits from the slight difference in price between both exchanges.
If you get your timing right, you can find anything between 5% — 30% in price spreads across various exchanges. Consider signing up on different secure crypto platforms such as HaggleX and take advantage of this opportunity in the crypto market.
4. Swapping Cryptocurrencies
There are thousands of cryptocurrencies available for you to choose from. With so many choices, you might want to try another cryptocurrency but may not have extra funds to do so.
The good news is that you can still get those without depositing new funds into your wallet. You can easily do this by swapping. This means that you exchange the cryptocurrency you already have with the new one you want to own. For example, you want to own some Tron (TRX) but don’t have money to buy some. Well, thanks to this feature, you can swap the Ethereum you have for Tron for roughly the same value. You may be thinking, how can I make money from swapping cryptocurrencies?
The volatile nature of cryptocurrencies allows you to make profits through crypto swap. Let’s say you own $100 worth of Ethereum tokens and you are worried about losing the value of your Ethereum tokens, you can swap your Ethereum for a more stable crypto asset like USDT. Buy Ethereum tokens when the price is low and swap them to USDT when the price is high. You can increase your Ethereum holdings following this simple process of swapping cryptocurrencies and even more money from the profits when the price increases.
Another way is by swapping your crypto asset to one that allows for staking. When you have increased your crypto holdings from staking, you can always swap back to your favorite crypto asset.
With the launch of HaggleX Crypto Swap, you can swap your favorite crypto assets for HAG tokens and vice versa. It is one great way to make more money in the crypto space. You could swap your crypto to give this a try.
5. Leverage your Skills in the Crypto Sector
There is no debate that we live in a digital age where honing a skill is becoming more important. There are so many digital and soft skills that one can learn and earn. Anyone can be a content creator, digital marketer, front-end developer, programmer, motion designer, product designer, and many more. There are also soft skills you can learn such as problem-solving skills, adaptability, interpersonal skills, communication skills, and so much more.
All these skills are problem-solving skills that one can use to help a company or brand grow. All you have to do is identify what a company needs and use your skills to solve that problem.
Today, there are hundreds of crypto startups created to solve a problem in the crypto sector. All these companies are looking for skilled personnel to hire into their workforce.
One advantage of working for crypto platforms is that you’re more likely to work remotely which gives you the benefit of having flexible hours and working from the comfort of your own space. You also get to work for one of the high-paying sectors in today’s economy. These companies offer their compensation in terms of cryptos; this, therefore, means that the value of your earnings can more than double in value within days if not hours.
Conclusion
If you’ve ever wondered about how you can make money off cryptocurrencies without taking the long journey of trading, now you have the answer to your question. You now have five ways you can make money in the crypto space. You can take advantage of these, including those that involve using the HaggleX app.
Sign up on the HaggleX app today and try any of the methods mentioned above. With the HaggleX CryptoSave feature, Staking feature, and ease of transactions, you can make profits from cryptocurrencies using a secured and easy-to-use crypto platform.
Start making money off cryptocurrencies today. Download the HaggleX app on your Google Play Store or Apple Store for free.
Google Play Store: https://play.google.com/store/apps/details?id=com.hagglex.hagglex
Apple Store: https://apps.apple.com/ng/app/hagglex-buy-sell-btc-and-eth/id1535046179
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