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There are several key ways to profit in the field of digital money. Some assume fast income and high risk, others are designed for a long period, but more stable earnings. There are four main ways to earn money on cryptocurrency: investing, trading, mining and DeFi. To make a profit of a million rubles and above, each of the options requires special knowledge and experience, and most importantly, large start-up capital.
Despite the fact that cryptocurrencies are extremely volatile, investing in them is a process designed mainly for a long time. At a time interval of several years, for example, Bitcoin shows a high yield. Five years ago, BTC traded at $242. Since then, its rate has grown by almost 4340%.
But past growth does not guarantee the future. The probability that the cost of Bitcoin in the next 3–5 years will rise by a similar, even close, value is extremely small. Now the capitalization of Bitcoin is already $200 billion. This means that growth of even 500% will raise the market value of the asset above $1 trillion. Finding such liquidity will be extremely difficult. The higher the cost of the asset, the more difficult it to increase multifold.
There are supporters of cryptocurrency who believe in such an increase in its value, and even more. For example, according to analyst Willy Wu, there are currently 35,000 public companies, whose total free reserves are $5 trillion. Wu claims that if such companies decide to place 1% of their capital in Bitcoin, this will be enough to increase the capitalization of cryptocurrency to $2 trillion.
At the same time, companies have already begun to actively invest in bitcoin. On October 8, Square, a payment company founded by Twitter creator Jack Dorsey, invested 1% of the total value of its assets in Bitcoin — $50 million. Shortly before that, the company MicroStrategy invested $425 million in the first cryptocurrency.
Speculation, especially cryptocurrency, is an extremely difficult and risky path. Many users begin their acquaintance with the digital money market through trade. However, most often the first lesson is the complete or partial loss of a deposit. To earn such an amount as 1 million USD, trading with a credit shoulder may be suitable. It allows you to borrow capital from the exchange, however, in case of an error, it burns the deposit.
Many traders do not recommend working with the credit shoulder, as it turns trading into a gamble. The higher the credit shoulder, the smaller the price movement is needed to get rich or lose everything. A volatile market such as cryptocurrency involves constant strong exchange rate movements within the day. If you are lucky, then with a high shoulder you can earn a million rubles extremely quickly. But in most cases, the exchange will work rather than the trader.
CEO Xena Financial System Anton Kravchenko, in addition to trading, called the search for a promising project a way to earn a million rubles. This means finding a strong team with funding from market leaders. The main difficulty will be to find a way to buy tokens before they hit the exchange. In this case, get $1 million will come out with a starting capital of $0.5–1 million.
“The second way is to join a good algorithmic cryptofund with reliable people and a legal structure. Then you can count on $1 million. income with a capital of $4–5 million” advised Kravchenko.
The most controversial and risky way to earn money on cryptocurrency is decentralized finance. In the summer, DeFi tokens showed an increase of hundreds or even thousands of percent. Now many traders have opened a hunt for DeFi tokens in search of the same opportunities as YFI. To earn a large amount, you need to buy a promising coin as early as possible, preferably immediately after its release. To do this, you can use special services, for example, astrotools.is and dextools.io.
The main risk of such a strategy is that no one can guarantee growth, and in most cases after it the value of coins drops to about zero values. For example, this happened with a Hotdog token. It appeared on September 2 and grew by 120,000% per day, from $5 to $6200. After a few minutes, it practically depreciated.
Mining
Bitcoin mining is considered one of the easiest and most stable ways to earn money on cryptocurrencies. It does not require knowledge in the field of trading or investment abilities. Miner can immediately sell all mined coins, thereby fixing the profit. The most important rule is that the BTC price should be higher than the break-even point. And it is different for everyone and depends on many factors. For example, from the cost of renting a room, the price of electricity, maintenance, and so on.
According to the company BitCluster, for modern devices S17 Th/s, the break-even point is about $6000, for the top model S19 110Th/s — about $4000. The stronger the difference between this amount and the average market rate of cryptocurrency, the higher the profit. However, you should not count on quick and easy earnings. Now the average payback period for mining is 15 months.
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