How to get rich with cryptocurrency

Cryptocurrency is digital currency in which value are stored and are a means of transactions, records which are maintain by a decentralized system using cryptography on the blockchain network.

"The crypto industry is a billion dollars worth industry ,the price growth cryptocurrencies over the years such as bitcoin, etherume,bnb, litecion now provide an avenue for wealth creation "

Cryptocurrencies are not a get rich quick schemes but there are several ways of making life changing money with cryptocurrency

Investing

Trading

Mining

Staking and Liquidity

Airdrops

lending

Content creation

Investing and HodLing

HodL is a crypto slang that means Hold for your dear Life,this term is aim at crypto investors who tend to aquire crypto assets at dirt cheap prices and hold on to it over months and years to cash in on impulsive price growth of crypto assets. This a long term strategy of earning with cryptocurrency.

Over there time this is most populous and the easiest path to life changing money in the crypto industry.

Trading

Trading is an act of exchange one goods for another for profit and it is the one of the oldest profession in the world,these same concept of buying lower and selling higher applies to cryptocurrency.

In cryptocurrencies trading coins and tokens are means of exchange, there are several type of trading in cryptocurrencies such as day trading, swing trading, position trading,over the counter (otc) trading and abitrage trading. all this types of trading are used to generate profit over time.

Crypto trading platforms are called exchanges.

There two types of crypto exchanges.

Decentralized exchanges

Centralized exchanges

Decentralized exchanges (DEX) are non custodial exchanges that users are in full control of their assets without interference of regulations such Pancakeswap, Uniswap and Anyswap.

Centralized exchanges (CEX) are custodial trading platforms that unlike decentralized exchanges,this exchanges are fully regulated, this exchanges offers a good liquidity and ease of transaction like Binance, Kucoin,Ftx etc.

Mining

Mining is the extraction of solid mineral from the mother earth such as gold, ore, coal and gem stones.

Crypto mining is a process solving numerous cryptographic problems, verifying transaction on the Blockchain network to earn rewards.

Cryptocurrency that can be mined are known as the proof of work networks such as Bitcoin, Ethereum classic,ravencoin etc.

Staking and liquidity

Staking in crypto industry is a way crypto owners or user give or lockup their assets or cryptocurrencies for a certain timeframe to earn new or more tokens or coins.

Liquidity is another means crypto users earn more money.

Liquidity in crypto is ease in which a coin or token can be exchange with one another without impacting the prices.

ln Liquidity pools users are meant to provide equal amount of coins or tokens for easy transition on defi platforms.

There are several decentralized platforms user can provide liquidity on such pancakeswap, uniswap, anyswap.

Liquidity providers earns from transaction fees for providing liquidity in the network. Most new crypto projects often reward older projects liquidity providers with their cryptocurrencies as airdrops ie making liquidity providers more money.

Airdrops.

Airdrops are incentives which new crypto projects give out to its early users and community members as rewards for their time or value added to the projects, Often times this may come as a means of marketing or to create an attention.

Airdrops might worth some pennys at first but over the time they tend to worth some good doe.

Over the years there some crypto airdrops that are worth life changing amount such the uniswap 2000$ worth tokens ,the 1000 BNB coins for early binance users ,the likes of axie infinity and lastly the 19000$ SAMO airdrops.

There several website to find this airdrops such defilamma, airdrop.io,coinmarketcap, coinmarketcal,medium and Twitter.

Lending

Lending is a process of giving out money to borrowers to earn interest.

Just as traditional way of lending, in crypto lending is giving out one coins or tokens to earn interest. There several crypto platforms that offers wide range of crypto lending services that one can leverage on such as nexo,celsuis,Aave,coinloan and blockfi

Content creation

Content is something that hold great significance of an item,works.

Content creation is the act of creating something of importance that is of value to it's audience,it can be in writing,audio,visual formats etc.

In the crypto industry content creation is a vital aspect which help in delivering crypto project to its a wider audience or market.

Content creators such writers,bloggers ,vloggers,podcast and voice over artist and developers are been paid or rewarded for their effort or skills in building and promoting a crypto projects.

Final thought

In the crypto industry opportunities to make life changing money abound, I sure with this guide you have the magic keys to open the doors of success in the crypto industry.

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