Can we consider Cryptocurrency to earn money online?

[sadi999]

Nowadays, I am doing research on cryptocurrency and I am a little bit confused about the crypto. Is it possible to earn money by mining or any other way to earn by investing in the crypto? If yes then what is the best digital currency available to invest

 

[Chancer]

what is the best digital currency available to invest

Sure, somebody is going to tell you that right?
Do not go around asking that because you will only get scammed.
As we say in crypto - DYOR!


Is it possible to make money with crypto?
Oh yes, a lot of it, but it is generally not easy - it takes a lot of work to make money in anything, especially in crypto!
You see the days where you made money with any coin you bought are over. So you have to put some work into it.
Every day I see newbies losing money with trading, because they think of it in the same way as they do about gambling...
Trading is not about luck, it is all about skill. You have to put in hundreds of hours of learning and practicing.

Same goes for investing. There are no guarantees here, just like there are no guarantees in stocks.

Nevertheless, there is still a fortune to be made with both crypto trading and with investing (i do both), but you MUST learn it instead of asking other people for what to buy.



Crypto mining: yes you can make some money with your CPU - $0.20/day to $1.5/day depending on how good your CPU is. You can also make some money with your GPU - $0.10/day to $5/day depending on how good your GPU is. Or you can buy ASICs with which you can make up to $10/day (AFAIK ATM) but of course they require an initial investment.
As a subset of mining you can also try stakeing (PoS system), but that also requires an initial investment.
However in all these options you also have to learn a little or you will spend more on electricity and gear than you will earn.


If you are adamant on going the lazy way and not learn anything, then just download yourself an ETH wallet and apply for airdrops


However if you are prepare to work (the harder, the better ), consider joining a project and helping them, or join "campaigns" listed on BCT. Or just join a crypto discord channel and tell people what skills you have - with just a little networking like that you quickly get drafted or hired for a gig.

I've done it all in the last 3 years, and the best advice i can give you is 'sell shovels during a gold rush'. Crypto is exactly that
I actually made a lengthy article about it a few weeks ago, it goes more in-depth than i can here, if you are interested: modern gold rush


If you have specific questions go ahead and ask me :smart:

 

[sadi999]

Would you like to suggest any platform where I can get technical analysis about it?

 

[Chancer]

It is best if you don't 'get TA, but rather make your own.

I use 'tradingview' - free plan, no need to throw money around.

3 years ago an experienced trader pointed me to www(.)babypips(.)com and it is a great resource to learn TA.

However i am primarily FA, i only use TA for finding more optimal entries.


If you want, DM me and i'll send you a link to a discord group i frequent (free group, paid groups are mostly scams). People there help each other with both TA and FA.

 

[sadi999]

sadi999

Thank You So much for the detailed guideline.

 

[100MDC]

Mining is dead. The cost of hardware and electricity doesn't suffice the income anymore.

 

[Sean78Black]

Sean78Black

I agree with you, I ask some people and they said same to you.