With there being so many options out there for obtaining cryptocurrency what do you think is the best? Would it be Cloud mining, trading with your own money, just buying and holding, spending the 2,000 plus dollars and buying a mining rig, I'm completely ignorant when it comes to these things and would love to know some insight from people who deal with this constantly. Thank you very much
Tried the following and these are my experience and results:
1. Cloud mining: 2 year contract - not profitable
2. Trading with own money: High risk but very good opportunity last year. Try to learn how to short so you can make money whichever way the market goes. Will take lots of time to learn.
3. Buy and hold: not profitable in this year's bear market
4. Mining / Masternode (staking): Haven't tried the GPU or ASIC mining. I've tried Masternodes (staking). Very profitable last year, this year not so much but I continue to run low cap MN's. Setting up a VPS is better due to less management than using own PC at home (
https://masternodes.online) . There are also Proof of Stake coins that only require a simple PC (
https://www.poslist.org/)
5. Bounty programs: earn while performing some task as specified on the campaign - translation, signature, twitter, etc. This is a hit or miss but if it hits, sometimes a very good pay.
6. Airdrops: Not worth it now. Most are trash (in terms of amount/value).
I recall last year that there were airdrops that gave 0.25 btc one time coin giveaway and some as high as 3-5 btc total (once converted) but distributed in several weeks while performing some task. This is also due to bull market last year.
Welcome and good luck on your quest in the crypto universe!
We all started as noobs! Just ask here and someone will surely reply with good quality info.