Cryptocurrency is bigger than ever today, with more and more people investing all the time.
It’s certainly not an easy way to make a quick buck, however. Learning exactly how to invest properly and make worthwhile decisions takes time, and with so many different methods available, it can be difficult to know where to start.
If you’re new to crypto or are simply looking for some new ways to increase your investment portfolio, this article is for you. Here are eight great methods to maximise your cryptocurrency returns.
Staking
Staking is pretty simple. It’s a way of earning crypto simply by holding onto what you already have and putting it to work on the network. You’re essentially locking your coins in your wallet, which helps you earn extra coins while supporting the global framework.
It’s a great option for beginners as there’s no real risk involved – you can’t actively mess anything up. Dollar-Cost Averaging (DCA)
Dollar-Cost Averaging (DCA) is a great way of taking the complexity out of engaging with crypto. It works by buying just a small amount regularly, such as five or ten dollars each week, regardless of the price. It takes the stress away, as you don’t need to worry about getting your timings perfect: you buy regardless at that set time, irrespective of the current price, and because it’s such a small investment, the risks are low.
You can also automate the process, making it as quick and easy as ever; many of the best investment strategies have you doing very little!
Online Games
Another method is to participate in online games. Many of these work a lot like traditional online gambling: you can join a Bitcoin poker site(s), for example, and start playing immediately. The stakes are high, but there’s a significant amount of risk, of course. This can be a great way to earn crypto, but make sure you do your research first and fully understand what you’re getting into.
There are also other types of traditional online video games you can look into. Titles like Gods Unchained and Axie Infinity have become particularly popular over the last few years, allowing you to earn through battling against others and trading. Play-to-Earn titles like these make the process of earning crypto fun, and it stands to reason that when something is enjoyable, you’re more likely to invest time into it.
Rewards Cards and Cash Back Methods
One way of earning more is by integrating your crypto into your everyday life. Many websites are now offering crypto rewards for online shopping in the same way traditional cashback cards do, and because you’re essentially just living your life and earning passively, this can be a great method.
The Crypto.com Visa Card is one of the most popular options, as you can get up to 5% back in crypto whenever you spend at a variety of online and offline stores, and at cafes and restaurants (just remember to read the terms and conditions before signing up). Most of the major coins are accepted, too, so you shouldn’t have to worry there.
You’ll never earn a huge amount this way, but while the return is relatively small, it’s so easy that it’s worth pursuing. Every little helps, after all.
Educational Platforms
There are some truly unique ways to earn crypto, one of which is via educational programs.
These websites offer you a small amount of crypto for watching videos, playing games, and participating in quizzes on crypto-related topics.
There’s Coinbase Earn, for example, which has become particularly popular recently, but there are new platforms popping up all the time.
Crypto Airdrops
Airdrops are special promotional events hosted by crypto projects that have just started. They gift free crypto tokens by way of generating interest.
It’s as simple as signing up to a given platform or page, most of the time. Over time, these tokens gain value, with the potential to become much more valuable the longer you hold onto them. Depending on how lucrative a given project becomes, you have the potential to make a lot of money from the process, so keep your eyes peeled on social media to find new airdrops.
Using Crypto Safely
As is the case with any type of investment, cryptocurrency is a risk, and a big part of maximising your investment potential comes from mitigating that risk as much as you can. As you explore new ways of enabling your investment to grow, it’s critical to keep your wits about you to avoid scams and to employ the necessary basic security measures at all times.
For example, you should always be using strong passwords and two-factor authentication (2FA) for all of your activities, and don’t ever share your private keys with anyone. You should also be storing your crypto within a dedicated wallet (either soft or hard), avoiding temporarily placing funds within online platforms.
Hold for the Long Term (HODL)
Hold for the Long Term (HODL) is one of the simplest ways to grow your crypto. It’s even simpler than the stake method, as all you’re really doing is holding your investment and not doing anything with it, on the assumption that it will grow in value (which has historically been the case).
The method is commonly, and comically, abbreviated to HODL, which in this case stands for ‘Hold on for Dear Life’. Naturally, this is a great option for beginners as it’s low risk, but many of the most knowledgeable crypto investors also follow the way of the HODL method. Sometimes, simply storing your coin and forgetting about it is the best course of action.
Wrapping Up
Ultimately, there are dozens of ways to earn crypto and keep your investment growing, with the above eight methods representing only a handful. Part of the fun is discovering your own way forward, but hopefully, you’ve now got a good idea of what options are available and can make a start. Good luck!
