If you're lucky with your cryptocurrency investment, you could make a fortune, even if you haven't invested much, and even if you've only owned the assets for a short time. The reason this is possible with cryptocurrencies is that they can be very volatile. Yes, you can make money with cryptocurrency. Given the inherent volatility of crypto assets, most involve a high degree of risk, while others require knowledge or expertise in the domain.
When she was a substitute public school teacher in New York City, Rachel Siegel lived in a dark apartment on the Lower East Side where every window faced a brick wall. One job consisted of blogging for a platform that paid him in cryptocurrencies. Its benefits were enough for Thompson to quit her tech job and become a full-time crypto content creator. Under the name Girl Gone Crypto, she now publishes “educational entertainment videos on cryptocurrencies and blockchain.
Another option is the mining of Bitcoins, since as long as the markets remain active, you can basically make money for nothing. But the problem is that mining is such a difficult job now that it's barely worth it. Turning your computer into a miner will probably make it loud and warm up. It's likely to take you a long time to mine a single Bitcoin, at which point you've probably spent more on electricity.
Experts say you can allocate up to 5% of your total assets to riskier investments, such as cryptocurrencies. Just make sure you don't expect to become a millionaire overnight, and that the money you invest is money you can risk losing. Many people just give up on the road or lose money because they don't quite understand how to make money with cryptocurrency. Essentially, there are quite a few methods to make legitimate money with cryptocurrencies, apart from the obvious way to trade.
But with cryptocurrency, it's even more dangerous, because instead of buying companies with profits, you're basically buying someone's idea, there is no way to fundamentally value coins. If you think that the use of cryptocurrencies will become more and more widespread over time, then it probably makes sense for you to buy some cryptocurrencies directly as part of a diversified portfolio.