Cryptocurrencies are one of the most popular and profitable areas for earning money. There are various tools with which you can independently extract virtual money and subsequently dispose of it at your own discretion.
First of all, decide on which cryptocurrency you will earn. There are several different virtual currencies, among which the most popular and demanded are Bitcoin and Etherium. When choosing, one should take into account the current complexity of the production (mining) of a particular cryptocurrency, as well as the stability of its rate in the world market.
After choosing a direction, you need to decide on a way to earn money. The main thing is mining. To receive virtual coins, a special farm is required, which includes one or more computers with powerful video adapters and a high-quality cooling system. Mining is carried out using special software.
The costs of building and maintaining a farm are quite high. At the same time, due to the growing complexity of mining cryptocurrencies, the payback period of investments also increases. That is why cloud mining can be a good alternative, which is the rental of ready-made capacities. Investments are usually made by several people, which makes the corresponding amounts quite affordable.
You can take part in cloud mining on special Internet sites that are created by the owners of powerful farms. For example, hashflare.io, hashing24.com and some other resources have proven themselves well. Those wishing to dig in a certain package of capacities for a month or more, after which they observe the rate of obtaining currency and its amount through their personal account. There are also disadvantages, for example, a rather high commission for withdrawing earned funds to a bank account and frequent hacker attacks on servers.
An easy way to generate income on cryptocurrencies is to buy and resell them on exchanges. This includes platforms such as poloniex.com, exmo.me, and a few others. This requires at least a minimal knowledge of the mechanism of the foreign exchange market, which implies constant monitoring of fluctuations in the exchange rate and the choice of the right moment to complete the transaction. There are quite a few options for making money in this way, so you should study the theory so as not to be at a loss.
Another way of making money follows from the previous one. It consists in buying and storing cryptocurrency. Virtual money is in increasing demand in the world, and its value is gradually increasing. Having studied the current situation in the foreign exchange market, you can buy or extract a specific currency by mining, wait for its price to increase and sell it profitably. And yet, some experts believe that in the future, a collapse of virtual money is possible, so it is always worth weighing all the risks and being extremely careful.
