{"id":4271,"date":"2020-10-19T08:03:57","date_gmt":"2020-10-19T08:03:57","guid":{"rendered":"https:\/\/paybis.com\/blog\/?p=4271"},"modified":"2024-04-23T11:44:18","modified_gmt":"2024-04-23T11:44:18","slug":"how-to-make-money-with-cryptocurrency","status":"publish","type":"post","link":"https:\/\/paybis.com\/blog\/how-to-make-money-with-cryptocurrency\/","title":{"rendered":"How to Make Money with Cryptocurrency – 5 Best Ways"},"content":{"rendered":"

The exciting world of crypto offers money-making opportunities for all those that know where to look. While the industry as a whole is still very volatile, new investors are already taking notice of this trend, and start learning how to make money with cryptocurrency.<\/span><\/p>\n

We have previously talked in detail about the <\/span>passive income<\/span><\/a> opportunities, as well as the ability to <\/span>earn coins<\/span><\/a> in your free time. Today, however, the theme is different. In this article, we show you how to handle your cryptocurrency in order to increase its value.<\/span><\/p>\n

How to make money with cryptocurrency in 2020 and beyond<\/span><\/h2>\n

The following methods will help you increase the value of your investment by using cryptocurrency as a vehicle to get there. Let\u2019s get started.<\/span><\/p>\n

Method #1 – HODL<\/span><\/h2>\n

\"how<\/path><\/svg><\/a><\/picture><\/p>\n

HODL<\/span><\/a> is an acronym that describes the process of buying and holding onto cryptocurrency for longer time periods. The term originated in 2013 after a BitcoinTalk member wrote a semi-coherent <\/span>post<\/span><\/a> that ended up going viral. In the post, the user described that, in bad market conditions, the best strategy is to hold onto your coins, even though the majority of the market sells as a reaction to fear.<\/span><\/p>\n

How does this strategy help you earn money?<\/span><\/h3>\n

When looking at Bitcoin, Ethereum, and other popular currencies we can observe a long-term tendency for price appreciation. Even though the market goes through bullish and bearish cycles, the price of these cryptocurrencies ends up higher than its previous peaks when looking at <\/span>historic tendencies<\/span><\/a>.\u00a0<\/span><\/p>\n

You might have used a <\/span>Bitcoin return calculator<\/span><\/a> to estimate how much your Bitcoin would be worth, had you invested earlier. In most cases (unless you invested in late 2017) you\u2019d probably be up significantly. This is the essence of HODL. By buying and storing cryptocurrency for longer timeframes, you bet on the fundamentals of a cryptocurrency and the growth of the crypto industry as a whole.<\/span><\/p>\n

Is it difficult to HODL?<\/span><\/h3>\n

When looking at the process from an external perspective, HODLing is extremely easy. You simply, buy coins, store them in your wallet, and forget about them for a year or two – right?<\/span><\/p>\n

Well, those that actually HODL may tell you a completely different story. Due to the volatility of the market, investors go through a roller coaster of emotions, which can change by the hour. While you may get ecstatic when seeing a large price appreciation on one day, you may feel extremely stressed when a large drop occurs.<\/span><\/p>\n

To make sure that you can go through this process without feeling overwhelmed, it is important to set and stick to a price target. Once you adopt a goal-oriented mind, it will be easier to navigate through the emotional ups and downs.<\/span><\/p>\n

For who is this strategy best for?<\/span><\/h3>\n