Cryptocurrency has skyrocketed in popularity over the past few years. There are many reasons to invest in cryptocurrency, but one of the most important is that it can increase in value as time goes on. But just be aware that not everyone is lucky enough to strike it rich. Many fall victim to scams and give up on trading altogether because they feel like crypto markets are too volatile. If you do decide that cryptocurrency investing might be right for you, use caution when choosing an exchange or broker from which to trade as there have recently been many reports of hacks and frauds.
But luckily, there are a few more ways to make money with crypto that don’t necessarily involve trading. In this blog post, we will go over some ways you can increase the value of your cryptocurrency portfolio and why it’s important to do so.
1. Earn Cryptocurrency Dividends
Are you tired of only seeing your cryptocurrency sitting stagnant in a wallet? Wouldn’t it be great if that money was making more money for you, just by being there and doing nothing? Well, don’t worry, because with the right coins this is possible! Some have fantastic investment programs, where simply purchasing their crypto will pay off dividends to holders over time as they grow bigger and better!
Some of the coins you can purchase that will pay off dividends include KUCOIN, COSS, NEO, AND CEFF, just to name a few. But be aware that, as with conventional stock trading, not all of these coins are going to be suitable for your portfolio. You’ll need to do your research and select those coins that appear to be consistent with your investment strategy and objectives. You can even consult an accountant or a cryptocurrency expert to make sure you are making the right decisions, especially if you are still relatively new to cryptocurrency.
2. Use Strong Passwords and 2 Factor Authentication
Of course, increasing the value of your cryptocurrency also means making sure your cryptocurrency is safe from hackers and thieves. You can’t grow the value if it’s stolen from you, and you can’t retrieve it, after all.
Simple security measures are the best way to keep your cryptocurrency safe. It is always a good idea to use different passwords for each site and make sure you do not reuse them! Be sure you have two-factor authentication enabled and set up a password rotation system, if you can, so that if one of your sites has been hacked, others will be protected.
Using a reputable password manager can make this process much easier. It automates the many steps in managing multiple accounts, eliminating any guesswork, and preventing you from accidentally forgetting one of your passwords.
3. Cryptocurrency Master Nodes
This suggestion is a bit technical in detail, so let’s explore first what a master node is.
Master nodes are the backbone of blockchain technology, as they reward node operators for performing the necessary functions to maintain a thriving ecosystem. You see, something called ‘full nodes’ verify transactions and make sure no one can tamper with data on it. But they cost a lot to run because you need powerful equipment that consumes expensive amounts of energy.
So then, how can you make money with master nodes? Allow me to explain. Master nodes are trusted individuals that operate as full nodes. They’re compensated for their services in the same way miners are, through a proof-of-work system where they pledge collateral to ensure against malicious activity on their part.
If this is something that interests you, Dash was the first currency to adopt this master node model. Thus, they may be worth checking out. Another one you can consider that uses master nodes too is PIVX. Note that master nodes are very technical in nature, as I’ve already stated, so you’ll need to have a good understanding of blockchain before you attempt it.
4. Staking
One way to make money is by staking your digital assets – or putting them up as collateral – while you wait out any possible fluctuations in the marketplace that might occur during their time on loan from you. This approach offers not only potential price appreciation but also has dividend payouts from selected coins. These can be reinvested back into more cryptocurrency projects down the line after purchase if desired!
Staking is like being the guardian of a fortune. If you stake, your coins will be locked in an address that only unlocks when specific conditions are met—like sending out a transaction or voting for protocol updates. The more blocks mined and transactions made, the more chances of earning new crypto tokens.
If you’re interested in staking, some coins that offer the option include Neblio and Decred.
5. Wait for Future Events
Although it’s true that cryptocurrencies haven’t been around long enough for us to establish a pattern of movement, some major global events could lead to their rise in the near future.
As it stands, governments don’t know what to do with cryptocurrencies, but that doesn’t mean they won’t figure it out. And while it’s true that this will likely mean investors will face more roadblocks and paperwork, it also means that trust in cryptocurrencies will rise. And if trust rises, you can expect more demand and higher prices.
For another possibility, let’s look to China. Chinese Bitcoin mining and development takes place in a tightly controlled environment. This has made it difficult for crypto to grow and expand freely because the Chinese Internet is one of the most regulated in the world. The release from these restrictions would likely create an enormous boost that could positively influence cryptocurrency prices worldwide by allowing more room for growth without restriction.
In a funny twist of fate, one of the factors that may drive up cryptocurrency prices is less volatility, either through regulation or increased volume generated by large investors. If demand increases and supply remains fixed, prices will gradually rise. This won’t be as exciting for traders, but profits are more likely to come their way in this scenario than if they faced a volatile market with wild swings on either side of trend lines.
Conclusion
Digital currencies are on the rise, and there’s no better time to get started. The future value of your cryptocurrency may be determined by how you choose to invest in it now, so it pays off for any investor to take precautionary measures like using strong passwords and 2-factor authentication, or even investing in a master node (if that interests them).
If you can wait patiently until events unfold with cryptocurrencies, such as government regulation or other circumstances which will likely increase demand for digital currency – then do just that!
But if patience isn’t one of your virtues, we have an account set up at Unbanked where you can start trading today. We’ll also introduce basic fundamentals about cryptocurrencies, such as what they are and why people trade. You’ll get your own crypto debit card and be one of the first people to get involved in the global cryptocurrency revolution!
