Josemendez
Verified member
When it comes to cryptocurrency , some people believe that the way to make money from it ,is all about buying the dip and holdl the coin till the price rises. Well , it is not quite a bad idea but could be better if one puts those coins into use while waiting for the rise in price to come.
There are several ways to do this which includes ;
1. Staking of tokens: most people do not known that by staking your tokens , one stands a chance to earn reward from his tokens without his token depreciating in number. When the price of the token has risen , one can then unstake , claim the reward from staking and still sell his token for profit.
2. Providing liquidity: This is similar to staking in the sense that one can benefit from it ,but unlike staking you have to supply two coins . These two coins are called LP tokens . The challenge is that there is an impermanent loss . If the price of the token rises , you will withdraw the token base on the price and not quantity ,but your reward is hourly and comes from transactions.
There is another one called yield farming which is also a great way to make money online passively but have risks associated with it.
There are several ways to do this which includes ;
1. Staking of tokens: most people do not known that by staking your tokens , one stands a chance to earn reward from his tokens without his token depreciating in number. When the price of the token has risen , one can then unstake , claim the reward from staking and still sell his token for profit.
2. Providing liquidity: This is similar to staking in the sense that one can benefit from it ,but unlike staking you have to supply two coins . These two coins are called LP tokens . The challenge is that there is an impermanent loss . If the price of the token rises , you will withdraw the token base on the price and not quantity ,but your reward is hourly and comes from transactions.
There is another one called yield farming which is also a great way to make money online passively but have risks associated with it.