Millionaire Mindset Here Are 4 Real Ways to Become Rich Investing In Cryptocurrency

1. Millionaire Mindset: Here Are 4 Real Ways to Become Rich Investing In Cryptocurrency because they do not properly understand how to make money with cryptocurrency investments. Crypto Business Whether you are a beginner or a seasoned investor, you can get into the cryptocurrency field and make money. However, lots of people either simply give up along the way or lose money Like several other investments, crypto presents the opportunity not only to earn a return through trading virtual assets but also by putting your investment to work to earn passive income. But people’s problem is always how to put the plan into action. Here are four simple ways an investor can make serious money with cryptocurrency. 1. Investing and trading Investing is a long-term strategy of buying and holding crypto for some time. Digital currencies are generally well suited to a buy-and-hold strategy. Right investment and patience can deliver extraordinary benefits and make a user super rich in the long run. For a person who invested $100 in Bitcoin in 2011 and remained patient for a decade, that investment would be worth $4.1 million today. world The investing strategy requires a user to identify more stable assets that would operate in the market for the long term. Besides taking advantage of investing as a long-term buy-and-hold strategy, you can leverage trading to exploit short-term opportunities. Any user can become a crypto trader without difficulty so long he develops proper analytical and technical skills. But he will need to analyze market charts on the performance of the listed assets so that he makes accurate predictions about price declines and rises. While trading crypto, he can sell or purchase, depending on whether he expects the asset’s price to increase or drop. This means he can make a profit when the price goes down or up. 2. Staking and lending Users can also use cryptocurrency to earn passive income without involving themselves in trading. Crypto staking allows users to lock their existing crypto holdings in a wallet for a specific period to secure a blockchain network and validate its transactions.

2. In this way, blockchain uses the Proof-of-Stake consensus algorithm to select validators to verify new information before it is added to a block or to create a block. Validators are users who invest their cryptocurrency for use as blockchain verification. This process is known as staking. The blockchain selects stakers randomly or by the number of tokens they’ve staked. Selected stakers obtain cryptocurrency in exchange for participating in the blockchain validation process provided that they confirm the correct information. Investors can get an annualized yield as high as 12.3% by staking their crypto. For instance, an investment of $100,000 in cryptocurrency could easily generate an annual passive income of $12,000. However, since prices of cryptocurrencies are highly volatile, more-conservative investors find staking stablecoins more appealing. Crypto Business Investors can also use cryptocurrencylending to get immediate returns without having to sell any coins. You can use DeFi crypto lending platforms to lend out your crypto holdings to borrowers and receive regular crypto interest, similar to interest payments earned in a traditional savings account. Crypto lending platforms can be either decentralized or centralized. As a lender, you can get extremely high-interest rates—up annual percentage yields (APYs) of 15% or even more, depending on the platform and other factors. world 3. Join cloud mining pools: Those looking to earn decent money in the crypto landscape instead of speculating directly in the market can become miners. However, nowadays most mining is done by firms with huge resources and powerful servers processing extremely complicated mathematical equations, which require extensive computing power and thus make it difficult for individual miners to compete. The best way for smaller miners to make any profit today is to participate in mining pools, which have more chances of succeeding. Today, the only way retail users can make significant returns through crypto mining is by joining a mining pool, which is something like a mutual fund for miners. With a small investment, a user can join forces with other investors and use the combined capital to participate in a mining operation. As an individual investor, you pool your resources together with other miners in a mining pool, thus improving your chances of mining a block and earning crypto rewards. When a block gets mined, the rewards are split up among different miners depending on the amount of computing power (known as hashing power) they contributed.

3. Mining pool owners normally charge mining fees for maintaining and participating in the pool. Users can choose to work with a variety of pools, each operating with a different mining structure. The mining operation normally takes place via the cloud, therefore miners do not need to worry about energy bills, heat, noise, or computer equipment maintenance. You just need to select a reliable cloud mining service provider based on your preference and select the type of contract to sign and the desired duration. Then you make an upfront payment, either in fiat currencies or crypto, after which the provider sets up everything you require for the operation. As a user, you can choose between contracts for 500 and 1,000 gigahashes per second, with a duration running up to one year. Some providers also offer short-term cloud mining contracts, 6- month or even 24-month contracts. Crypto Business 4. Airdrops and forks: Forks and airdrops are a great way that users can take advantage of accumulating excess cryptocurrency that can help them build long-term wealth. Commonly known as a token giveaway, a crypto airdrop is normally a free distribution of a cryptocurrency coin or token to existing token holders. The free giveaway is usually associated with a launch of a new cryptocurrency or project to seed the token among the user base and therefore spread awareness and increase ownership of the currency startup. world A hard fork refers to a radical change to the protocol of a blockchain network designed to create a new blockchain that runs in parallel with the original but differs in terms of the usage it offers to users and token holders. In August 2017, the first hard fork occurred and consequently split Bitcoin Blockchain into two cryptocurrencies that is Bitcoin and Bitcoin cash. Just like airdrops, hard fork events normally distribute free tokens to users who meet eligibility requirements because of their active participation in a particular blockchain ecosystem. The rewards depend on the amount a user holds or contributes to a particular blockchain project. Airdrops and forks are marketing strategies used to generate awareness, popularize blockchain- based projects or startups, create a large user base for such projects, and promote their native tokens to gain more traffic for those digital projects. orginally article published at Crypto Buisness world source : https://cryptobusinessworld.com/ArticleDetail/16721/crypto-business-world- millionaire-mindset-here-are-4-real-ways-to-become-rich-investing-in-cryptocurrency