Since the creation of
Bitcoin a little over 10 years ago until today the main question on the minds of those who come in contact with the cryptocurrency market for the first time is how to use it in order to be able to make money.
While in the earliest days of the cryptocurrency market the answer to that question was relatively limited and consisted of two or three real options for generating an income with cryptocurrencies, in 2021 that has been a huge amount of development of the infrastructure in the cryptocurrency industry over the past 10 years and today there are dozens of different ways to be able to make money with crypto assets.
This guide breaks down how to make money with
cryptocurrencies in 2021, starting with a look at whether it's harder or easier to make money with crypto this year nowadays foot, full looking at three good ways of making money with cryptocurrency in 2021, for finishing off with a few of the best platforms for making money with crypto.
Is It Harder to Make Money with Crypto in 2021?
As the cryptocurrency market has continued to evolve over the past 10 years there has been a dramatic expansion of the number of opportunities that are available and the tools which have been created in order to make the process of interacting with the cryptocurrency market easier for crypto uses.
While it was relatively easy to make money with cryptocurrency in the earliest days of the industry by simply buying and holding at that point in time, there were significantly less opportunities available for being able to open up new ways of generating profit and revenue, and therefore it is fair to say that in fact today it is easier than it used to be to make money in the cryptocurrency market in 2021.
What is important is keeping an open mind to new technologies and tools that may be used in order to be able to generate profit with cryptocurrencies, with many of these leading to use is being able to gain an edge over the rest of the market.
The Crypto Market Has Ballooned in the Past Few Years
In while the crypto market has been growing progressively since its launch in 2009, it's been in particularly been over the past four years since the 2017 bull run that we have seen a huge level of growth in the cryptocurrency space, both from the point of view of the amount of trade volume and also the number of people using cryptocurrencies every day.
As this has largely been as a result of two main factors, the first being 2017’s bull run impact on pushing cryptocurrency into the mainstream and that leading to large amounts of growth of the past years, and the second one is the significant uptick in institutional interest in cryptocurrencies in the recent past as well.
It is predicted that in the coming years the cryptocurrency market will continue to expand as well and the exponential growth in the value of cryptocurrencies is likely to continue as we move into the 2021 bull run and beyond.
3 Good Ways to Make Money with Cryptocurrency
Crypto Trading
Crypto trading is the core way of making money with cryptocurrencies in 2021 as it has been throughout the life of Bitcoin, and today there are more opportunities than ever before to generate an income using cryptocurrency trading with that being hundreds of different platforms to choose from.
While the basic aim of all forms of crypto trading is the same, there are many different flavors of crypto trading that will lend themselves to people that have different resources and skill sets including crypto Algo trading, crypto scalping, and crypto day trading.
While crypto trading remains a risky way of making an income, as well is this the potential opportunities for generating revenue are significantly higher than many other kinds of activities and this has led to millions of people every day buying and selling cryptocurrencies speculatively.
Crypto Referrals
For people that want to make money with cryptocurrencies but don't want to risk that funds in trading or investing, a good option instead is becoming a crypto affiliate and taking part in crypto referral programs in order to be able to generate revenue from any referrals sent to cryptocurrency platforms.
In order to be successful as a crypto affiliate it is important to be able to effectively navigate social media platforms and to be able to get attention on posts in order to have the highest chance possible of people using a referral link to sign up to platforms and then earning a percentage of what they spend there.
In crypto referrals are a good way to be able to supplement an income generated from trading or investing as well, with it being relatively easy to sign up to different referral programs and to get started straight away with earning by referring traders to different platforms.
Crypto Copy Trading
And crypto copy trading has only been available in any kind of significant way over the past four years since the launch of Covesting.I/O and the introduction of that pioneering new form of copy trading to the cryptocurrency market, however even with only a relatively short period of time that it has been available crypto copy trading has grown exponentially in popularity.
Today Covesting is used by millions of traders around the world each day in order to be able to form collaborative partnerships where experienced traders allow others to be able to copy the trades and execute and in doing so they can earn a 20% success fee on all profits.
At the same time, their followers are able to leverage the knowledge and skills of veteran traders in order to dramatically reduce the risk in the cryptocurrency market and increase the likelihood of executing successful trades with the capital, with this being an optimal situation for both experienced traders and photos.
3 Best Platforms to Make Money with Cryptocurrency
PrimeXBT PrimeXBT is world's leading multi-asset margin trading platform, having launched in early 2018 to bring cutting-edge margin trading tools to the cryptocurrency market for the first time, and growing exponentially throughout the last few years to today managing up to $7 billion of global trade each and every day.
PrimeXBT has become a leader within the cryptocurrency space as a result of continually integrating new tools that allow users to be able to make money with cryptocurrencies in new ways, and being an innovator with in the market that has revolutionized the way that margin trading is perceived and is largely responsible for the popularization of margin trading cryptocurrencies of the past few years.
PrimeXBT provides up to 100X leverage on a range of cryptocurrencies that included BTC, ETH, LTC, and EOS, while providing up to 500X leverage on a range of the world's leading traditional assets like stock indices such as S&P500 and FTSE100, for expense such as USD/EUR and AUD/CAD, and commodities such as gold and oil.
PrimeXBT also charges the lowest fee schedule of any major cryptocurrency trading platform in the market with a low flat rate of just 0.05% being applied to all trades on the platform, irrespective of the asset being traded or of the size of the trade.
Binance Binance has billed a reputation for listing a wide range of different cryptocurrencies and providing innovative tools for interacting with the cryptocurrency market as well including many financial tools and more recently margin trading tools as well.
Because of this, Binance opens up a number of opportunities to be able to profit from cryptocurrencies in unique ways, and this has allowed its users to be able to make money with cryptocurrencies in a diverse range of different ways.
Binance does charge significantly higher fees than many other trading platforms, and in fact Binance charges up to 10 times more than trading with PrimeXBT and other platforms and therefore it is important to consider this before using Binance to trader invest in cryptocurrencies.
Coinbase
Coinbase is been in the cryptocurrency market for many years and is seen as a mainstay of the industry, in particular catering to the institutional side of the cryptocurrency market who favor Coinbase because of the tools that are available on the platform and its relative safety in comparison to many other crypto exchanges and brokerages.
Coinbase is an expensive option as well, like by Nance, and does charge higher fees than even Binance, with this being prohibitive for many retail traders that would like to trade with the lowest fees that they possibly can, however for many institutional investors this is not such a big problem.
Coinbase does provide a professional trading environment with a range of different cryptocurrencies to be able to trade against, and is seen as one of the more secure trading platforms that are on the market in 2021.
In Conclusion
Crypto trading, crypto referrals, and crypto copy trading off three of the best ways to make money with cryptocurrencies in 2021 and are still three of the least saturated methods for being able to generate an income, with there being plenty of opportunities available right now to be able to use the strategies and techniques to make money.
PrimeXBT, Binance, and Coinbase are three of the largest and most well-known crypto trading platforms in the market and provide excellent environments for safely trading with a range of tools on each platform allowing for many different opportunities to generate profit and revenue.
You like to learn more about the three platforms we've listed in this guide and how to get started with them, check out PrimeXBT, Binance, and Coinbase.