Lockdown and Coronavirus/Covid19: Make Money with Bitcoin and Generate Passive Income with Cryptocurrencies
You can make money with cryptocurrency while staying at home, this article will cover the possibilities of making money online with cryptocurrencies during the coronavirus lockdown.
After the first wave of Coronavirus/Covid-19, confinement or rather lockdown is therefore back to the detriment of many people who find themselves again stuck at home sometimes with children to look after, on part-time work, working from home (telework), or unfortunately without a job and without income.
The economic crisis that the United-States, England, Australia, Europe and all countries in the world are going through is dramatic, it affects all sectors of activity and especially small businesses (restaurants, cafes, bars, nightclubs, florists, hotels, etc. ) who go bankrupt after all these months of financial losses following this health hold-up.
The lucky ones are teleworking remotely or getting unemployment checks supported by the state and unemployment benefits.
Donald Trump (soon Joe Biden), Boris Johnson, Scott Morrison, and other governments are certainly doing their best to help businesses, self-employed workers and shops who are in financial distress in the face of this difficult economic situation and this re-lockdown that will last for weeks, resulting in less income or even no income!
Confined at home with plenty of free time, there are several solutions for making money with cryptocurrency and generating passive income.
Staying at home and practicing social distancing allows many crypto-curious to sit down and learn more about Bitcoin and cryptocurrency.
In this article, we will therefore see the different possible solutions that can allow you to make money with Bitcoin BTC and cryptocurrencies.
1. Invest in Bitcoin and cryptocurrencies
Some cryptocurrencies are safe values such as:
There are many other cryptocurrencies available on the market, be careful to select the active crypto in which you want to invest your money.
The crypto exchange with the largest selection of cryptocurrencies is Binance.
2. Crypto trading
Trading Bitcoin and cryptocurrency can even be a full-time job, which provides enough income for an individual to live off but the profession can also be risky of course.
In order to make profits in crypto trading, you need to know how to buy digital assets and play the highs and lows correctly, knowing the right times to sell or buy BTC or other altcoins on the market.
So you have to learn the basics of trading and practice before switching to real mode in order to earn income from crypto trading.
Spot trading refers to the buying or selling of a cryptocurrency for instant delivery on a specified spot date.
Investors make profits based on the differences between the sale price and the current purchase price.
This takes time and concentration, it is indeed necessary to monitor the Bitcoin price or the price of other cryptocurrencies.
Futures trading (Bitcoin futures)
If you are good at analyzing charts, you can make profits by trading digital assets through bitcoin futures trading.
Compared to spot trading, futures trading allows you to profit from the difference in the price of Bitcoin in the future or for another cryptocurrency.
Futures trading is riskier than spot market trading.
To learn more about bitcoin futures, read our guide on it: click here.
3. Bitcoin robots and crypto trading bots
Crypto trading bots are increasingly used by professional traders as well as the general public who can rent Bitcoin trading strategies through copy trading and social trading.
The Kryll platform thus offers crypto bots and Bitcoin bots that are aimed at professional traders as well as novice traders.
These crypto trading bots will simply automate trading and automatically place buy and sell orders even when you are asleep so you don’t miss out on any opportunities in the 24/7 crypto market!
The Kryll trading platform offers many tools and indicators (Bollinger, Macd, RSI, Ichimoku, smart trading, etc.) which allow you to build a successful trading strategy on the crypto market.
If you want to use a crypto bot or a bitcoin robot, open a free account on Kryll: click here.
4. Rent a trading strategy and do copy trading
If you have no trading skills and want to benefit from Bitcoin trading, you can rent a trading strategy from a professional trader in order to do copy trading and social trading.
Here too, the Kryll marketplace offers trading strategies for rent that can be installed with a few clicks and which work immediately.
The Maya trading strategy is particularly successful with its Ethereum ETH trading pair.
Copy trading and social trading are also aimed at professional traders who do not have the time to develop other trading strategies and who may therefore choose to use ready-made strategies designed by others pro traders.
A novice trader can also hire a trading strategy in order to learn by following the trading of professional traders.
If you want to rent a crypto trading strategy, open a free account on Kryll: click here.
5. Cryptocurrency staking
Staking is more and more popular, it allows you to make money with your cryptocurrencies and generate passive income.
To do crypto staking, all you have to do is buy certain cryptocurrencies and hold them for a while in your crypto wallet like Ledger or on a specialized platform like Kraken Staking, Coinbase or Binance Staking.
This is a very cost effective method, without really working on it.
If you can hold a cryptocurrency for a while, you will be rewarded for holding the token.
Crypto staking is similar to a savings account in dollars for example, but the interest and return rates are much higher with cryptocurrencies.
For example, Kraken offers 12% interest for Polkadot staking (DOT) and 7% for Cosmos (ATOM): visit the Kraken website to find out more.
You have to hold them for a while, and you will be paid with additional tokens in the form of interest just for holding them.
You have several here solutions to make money with cryptocurrencies and Bitcoin, this article is not financial advice, do your own research before investing your money.
In lockdown at home for weeks, this is the opportunity to learn and train yourself in cryptocurrency.