Different Ways to Earn Profits on Your Crypto Assets

Cryptocurrency is no doubt a highly profitable digital asset. Just like real money that you can use to earn profits, you can also make your crypto assets to earn profits for yourself.

 If you do not have cryptos and do not have funds to buy cryptos or do not want to spend real money to buy virtual money, you can start earning cryptos through various activities such as blogging, forum posting, micro jobs, etc. Crypto is a profitable niche for blogging but it is also very competitive. There are already many cryptocurrency-related blogs and websites that offer high-quality content, you will have to compete with them. You also need to be up to date with your blog content, which means, you need to publish new content every day or might even have to publish a couple of content every day.

 If you already own crypto assets, here are a couple of ways to earn profits on your crypto assets.

Earning with staking

In a layman’s term, staking cryptocurrency means, depositing your cryptocurrency in an account on an exchange platform to earn fixed rewards for a fixed tenure. Staking cryptocurrency is just like depositing money in a fixed deposit account for a fixed term to earn higher interest rates. Just like with your fixed deposit bank account where you cannot use your funds until the fixed deposit term ends, you cannot also use your staked cryptocurrency. However, some platform allows you to use your staked cryptocurrency.

There are a lot of platforms that you can use to earn from my cryptocurrencies by staking. Binance is one such platform that you can use for staking. Another platform that I can suggest is Exodus. You can stake your cryptocurrency on Binance and Exodus and make extra money from your cryptocurrencies.

Yield farming

Yield farming means freezing your cryptos in a certain platform and earning fixed interest.  Yield farming is just like depositing your funds in a fixed bank account for a fixed term and earning fixed interest on your deposit.

Crypto Bank

Crypto banks are virtual platform (registered with the government in the countries where they operate), that allows users to deposit cryptos and earn interest on cryptos. You can also borrow against your deposit. .Nexo.io pride itself as a cryptocurrency bank, it not only provides interest on your crypto deposits but also offers loan by using your cryptos as collateral. Celsius is also another good platform that offers interest on crypto deposits.

Cryptocurrency Mining

You can earn crypto through the process of mining. You need to spend a lot of money to set up your mining rig or invest in a cloud mining program.

Well, theoretically speaking, you can make crypto mining your primary income source. But practically speaking, you cannot. For of all if you choose free mining programs, your earnings will be so low that you can't even earn $20 by mining for the entire month. If you choose cloud mining and buy hash rate, you will have to pay a lot of money for the hash rate to mine, when you calculate net income, it will not be much. The only way to mine a lot of cryptos is through your own mining rig, but you will have to spend thousands of dollars.

New Blockchain Projects That You Need to Try

If you are interested in investing in a new blockchain project, or cryptocurrency project, you might try some of these. I have provided a brief description of these blockchain projects but you can always do some research on these projects before investing.

Ubex: Ubex is a global decentralized public trade dealing especially in the field of advertisements and tokens.

Tripbit: This is a blockchain platform for the travel industry

DAOstack: DAOstack’s offers GEN Tokens. It is another good platform to strengthen decentralized coins.

Dbrain: Dbrain has revolutionized the Artificial Intelligence business. It is one of the most trustworthy blockchain-based projects.

Developeo: It is another multi-project company based on the blockchain system. It is quite different from other cryptocurrency projects regarding services. It works on EdTech, FinTech, and BankTech.

First published on Trendri, in author's name