With Covid-19 ripping its way through the world, many people have been in the sad situation of losing work. However, just because we cannot go out to find more work doesn’t mean that we can’t make any money. Cryptocurrency is a perfect way to make some extra cash whilst staying safely inside, making it perfect for these trying times. Want to give it a try? Here are a few ways you can go about it, from gambling with CasinoFair to staking and others in between.
Gambling Online
Gambling online takes some skill, patience, and capital. Maybe, the most important element of online gambling is that you have to enjoy it. You have to enjoy seeing how random luck and some skills can be combined to earn some money.
The next step is to practice endless hours, without any money, just for the fun of it. Fortunately, many online casinos offer free introductory offers or bonuses so you can learn some betting techniques before using any of your own money. If you need some help finding where the deals are, this website compiles all the casinos where you can get 50 free spins, enabling you to try a few out and see which one you like the best.
If you need to learn how to place bets, there are many places where you can learn a few lessons and strategies for free. Here is an article on 5 strategies for online casinos that could be of some use: www.the360mag.com/5-strategies-for-online-casinos/. Once you become comfortable playing for free, then, it’s time to move to a place where you can play for real money.
Then it’s time to try some real money. The best thing is to try with small amount. The hardest part is to control your emotions. Like Kenny Rogers said in his song “The Gambler.”
“You got to know when to hold ’em, know when to fold ’em, Know when to walk away and know when to run
Kenny Rogers
Fortunately however, it’s entirely possible to get some easy practice in first. Many casinos will offer free practice demos where you don’t have to stake any real money and can begin to get a feel for the game. After that, you can try something like the King Billy 50 Free Spins for $1 many times until you feel that you truly understand the game. Once you’ve reached that stage, you will then be able to go a little bit higher if you feel that you are ready.
Gambling with Cryptocurrencies
Yes, this is a method you can use to make money with any Crypto option out there, much like you can do it with your hard-earned cash. As always, the usual risks and rewards are on the line if you choose to spend your coins in these places, so make sure to find a respectable outlet and quit when you’re ahead. To many, this is a key way of getting started in the world of cryptocurrencies, but it is not the only entry point, and it is up to you to decide if this is the route you want to take.
Staking Options
So you’ve got your crypto in a wallet from the first option, or by simply buying in. What now? If you want a gentle start, then staking could be for you. The concept for this one is relatively simple compared to others out there. Staking means, in layman’s terms, taking your existing crypto and locking it into a crypto coin for a specific period of time. In turn, that coin then generates additional cryptocurrency in terms of interest, and once the contract period is over you may be able to sell this, plus the original coin amount, for a profit. This depends on the market value at the time of course, but it is a flexible and safe option compared to some of the others available.
Buying and HODLing
This is an interesting one. The intent with this method is to buy powerful cryptocurrencies with good concepts behind them, and hold onto them for a very long time. The goal? To hope that the price goes up so you can make some good profits. It’s risky, but it can pay off in the long term. Sadly though, you won’t get any interest in that waiting period from this one.
Dividends
This is the option that you may have heard about, as it has made big waves in the investment world. For some this is controversial, for others it is no different from playing the stock market. It works in the same way as well: You invest in a specific cryptocurrency dividend and then hold onto your stock for the period dictated when you enter the holding. BNB and NEXO are strong contenders in this market, though there are other options available.
Trading
Similar to the option above, except that this is a more direct imitation of the standard stock market trading. This too made waves when Bitcoin has reached incredible heights beforehand, but nowadays has become more accepted and understood than before. You can use day-trading and standard trading options, depending on your needs.
These are just a few of the options on the table. Don’t be deterred if it seems confusing. Spend a little more time with it and you’ll soon be making sense of everything, and hopefully making some good profit too! After all, considering how some companies have turned crypto into big currency, you could potentially do the same. It is all a matter of time and luck.