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How to Create Wealth through Cryptocurrencies - All You Need to Know

Contrary to popular belief, trading isn’t the only way to earn with cryptocurrencies. There are other, less risky but more profitable ways to earn good returns by engaging with these innovative digital currencies. When looking to get success in the crypto market, remember that choosing the right coin and transacting at the right time is the key.

Here’s how you can earn more through cryptocurrencies.

Even if you are trading digital currencies, you should not limit yourself there. Beyond trading, there are many other ways to earn with crypto. HODLing, for instance, is a popular method for earning through crypto for those who are not ready to take a lot of risks by day-trading or want to profit from the long-term potential of their favorite coins. Other popular methods to earn crypto include staking, token sales, airdrop, crypto lending, mining, among others.

Let’s find out how you can still get rich from crypto even without trading.

Risk-less Methods to Earn with Cryptocurrencies

Choosing the right coin

Some cryptocurrencies are good for short-term trading and others are perfect for long-term holding. There are also coins that are good for nothing. You can call them ‘spam’ cryptocurrencies. So, choosing the right crypto is the first key to success in this market. Do your own research, ask around, participate in community discussions, talk to the team, and acquire a coin only if you are really sure about it.

Then, you should also know which coins to hold and which to get rid of when the time comes.

Understand how cryptocurrencies work

In other words, get a hang of the crypto market before you decide to jump into it. Read about cryptocurrencies, including how they work, how (or whether) they are regulated, how their value increases and decreases, etc. This will help you evaluate a potential coin and make the right choice.

Know the risk

The crypto industry and assets are full of risks. Some coins, often called volatile coins, are high-risk assets than others. It’s better to know and understand your risk appetite before you start dealing in crypto assets. For people with a low-risk capacity, coins with good long-term potential are ideal as they can offer significant returns in the long term at a limited risk. Dividend-paying crypto such as the SEEK COIN is also good for long-term holding, as it will double your income through recurring dividends plus high growth potential.

Trade Vs. HODL

Normally, people looking to make quick returns in the crypto market will acquire a coin with the hope to get rid of it as soon as the value increases. On the other hand, long-term investors would acquire high potential coins and keep holding them for a considerable period (at least a few years) to exchange at a much higher price on a later date.

SEEK COIN, for example, is designed such that it will give outstanding returns to those who hold it and wait for the value to increase considerably over a long period. Meanwhile, the coin will continue to pay real-time dividends to the holders for every transaction that occurs in the system, creating a win-win situation for those who hold SEEK COIN.

Another great way to make good returns from cryptocurrencies is to acquire them at an early stage, such as the initial token sale (ICO, ITO, etc.). At the pre-sale stage, the coins are sold at a relatively lower price, which gives ICO participants a better chance to get higher returns from their coins when they trade them later.

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