Over the last few years, cryptocurrencies have proven to be great investments and a trading market. And as the crypto market continues to develop and evolve, there are also new ways and strategies for retail investors to make money.

“Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.”

Cryptocurrencies have become one of the most actively traded assets in recent years. The reasons are diverse: first, they are affordable, and you can buy millions of tokens by investing as little as $100. Another reason is that building a diversified portfolio with cryptocurrencies is easy.

While, in most cases, people simply buy and sell cryptos to speculate on price changes and generate money, there are multiple other options to make money with a cryptocurrency.

8 Best Ways to Make Money With Cryptocurrency in February 2024

1.- Investing Early in Brand New Projects at the Presale Stage

For those who can’t afford to invest in well-established crypto projects, there is an excellent alternative: the New crypto projects. As the market proliferates, more projects are introduced regularly. Not all of them are promising or legit, but if you can find the best and invest in their development’s early stages, you can make massive money from brand-new projects. Before their official launch, it is common among the new crypto projects to conduct private and public presales. During these events, their native tokens are not yet official, but the developing team offers to buy them in the presale stage at low prices once the crypto is officially launched and sent to the presale buyers’ wallets.

2.- Buying Established Crypto Coin Like Bitcoin and Holding Long-Term

Perhaps, the best and the most popular method to make money with cryptocurrency is simply investing in a well-established or promising crypto project in the long term. Established crypto projects are backed with sophisticated plans, introduce new features into the industry, and try to solve real-world problems. These cryptocurrencies are not like speculative assets, which will lose their value once the trend ends. They are quite well-established and will gradually draw attention, growing their demand. If more and more people are interested in a crypto project and invest in it, its value will increase. Consequently, you will benefit from the increased price and generate good rewards in the long term. It is incredibly profitable to invest in assets with low supply. It works perfectly with cryptocurrencies as long as they are decentralized, and no single party can decrease or increase their supply.

3.- Creating a Mixed Crypto Portfolio and Holding Mid-Term

Another great way to make money with crypto is to build a cryptocurrency portfolio that is especially useful in risk management. Building a crypto portfolio means investing in some different crypto assets, including Bitcoin, the best altcoins, and even NFTs which are an emerging asset class of their own. One of the most crucial things to consider when creating a crypto portfolio is to make it diversified. If you invest all your money in one coin, there is a higher risk of losing your capital when the asset crashes. But if you invest in multiple cryptocurrencies, you can reduce the risks of losing money even if some of your assets lose their value. If no massive crash in the market affects all the cryptos, your diversified crypto portfolio will go through minor crashes associated with two or three coins.

There are two ways of building a diversified portfolio: investing in coins with different market caps and investing in versatile crypto projects or competing projects. Classified by market capitalizations, cryptocurrencies fall into three large groups: small, mid, and large-cap. Large-cap cryptocurrencies are the most well-established cryptos: they are less risky, but the rewards are lower. In contrast, cryptos with small market caps include higher risks, and the rewards are higher too.

When selecting a crypto exchange or a platform that will fit best to build a diversified portfolio, you need to select the one that supports many crypto coins, provides diversifying tools, and is secure to hold your cryptos.

4.- Staking Crypto in an Exchange

If you have invested in cryptocurrencies that operate on the Proof of Stake blockchains, you may want to use them for extra rewards instead of keeping them idle. This process is known as staking and is one way to earn crypto using your assets for the time you will be holding them. You lock away a certain amount of your tokens for a specific time to participate in the network securing and transaction validation process. When you stake cryptocurrencies, you earn interest rates for the period you have staked them. Hence, when looking for a staking platform, you must pay attention to how much interest rates the platform pays.

Security is another top priority to consider in a staking platform if you lock your assets and need to keep them secure. Among the most popular staking platforms is OKX, and the decentralized platform Defi Swap which will support staking with high-interest rates. 

Besides staking, there is another way to generate extra money through your idle assets. It is called landing. Some decentralized cryptocurrency exchanges have a pool where users can lend tokens for a specific time, and others can borrow cryptos if needed. Those who lend tokens are granted some rewards, and the borrowers pay interest rates to them for borrowing their money. So, lending is another way to make money with crypto, where you again lock up some tokens to gain interest rates.

5.- Day Trading Cryptocurrencies

Due to their volatility, cryptocurrencies can be highly profitable even for one day. Hence, day trading is one of the most popular ways of making money with crypto. It is called day trading because you take advantage of the frequent price changes of crypto assets to open and close multiple positions during the same trading day. In this way, you make a little profit from frequent trades and can generate massive money throughout the day. However, day trading is not a straightforward process. To be able to day trade cryptocurrencies, you must have at least a basic understanding of the market and learn how to analyze crypto charts and graphs. In this way, you can understand if the value of the asset you want to benefit from will increase or decrease over time.

6.- Free Crypto Drops and Crypto Faucets

Crypto faucets and airdrops are two alternative ways to earn free crypto if you don’t want to risk your money. These methods enable you to earn cryptos without investing anything in them, but the rewards are small too. At least, you don’t put anything at risk and don’t need to develop any special skills, but you can spend some of your free time on it and earn little rewards. Airdrops are events carried out by new cryptocurrency projects during which they send a certain number of tokens to different wallets. In most cases, you will have to do interaction with their project. For example, if it is a decentralized exchange, they may airdrop cryptos to those wallets that have conducted transactions on their platforms. Even though the cryptocurrencies airdropped to your wallet may not be that valuable initially, they may increase over time. Once the cryptocurrency is officially launched, it will gain more value and even reach high prices if the project draws massive attention from investors.

Faucets are another easy way to generate small crypto rewards. These mobile apps or platforms allow you to play games or accomplish tasks and get small rewards in cryptos. Hundreds of platforms are designed for this purpose, and the tasks significantly vary from platform to platform. Sometimes, it can be extremely simple, such as solving the captchas. On our list of all the ways to make money with cryptocurrency, this is one of the easiest; however, the rewards are also small. Other platforms may require playing games and reaching a particular milestone, after which you will be rewarded. It is important to note here that money earned from faucets is relatively low, but it is the safest way of making money with crypto. Play-to-earn games are like faucets: you play and get rewarded for winning competitions or completing specific tasks. But the difference is that those rewards may be higher than with the faucets, and you will need some initial investment to access the platforms.

7.- Going All-In with Altcoins

Altcoin stands for alternative coin, and the word is coined to describe all the other cryptocurrencies created as alternatives to Bitcoin. If you think it’s already too late to invest in Bitcoin, it’s never too late to invest in altcoins. Hundreds of new altcoins are created monthly, and you have a vast selection of assets with thousands of options to purchase. New exciting altcoin projects occasionally spring up in the market, along with some well-established altcoins. These projects refer to different aspects of the DeFi ecosystem, including blockchain gaming, decentralized exchanges, programmable platforms, payment systems, etc. Investing in such promising altcoins during the early stages of their development can be a huge success for you once these projects have finished their presale stage and start to catch investors’ attention.

8.- Crypto Lotteries and Casinos

Like traditional casino and lottery platforms, cryptocurrency casinos incorporate blockchain technology with gaming and lottery elements, giving online gambling a great experience. As with traditional lottery platforms, blockchain lotteries enable you to purchase tickets and participate in competitions. When the drawn lotto numbers match with the numbers of your lottery tickets, you get rewarded from the jackpot pool. The most significant difference between traditional and blockchain-based lottery platforms is that the latter use cryptocurrencies for the ecosystem. You need to buy tickets through cryptos, and the rewards you get are in cryptos. 

Risk Disclaimer

Cryptocurrencies stand out with high volatility, meaning their prices change quite often and fluctuate extensively. On the one hand, it is advantageous if you can quickly generate high rewards. The higher the rewards, the higher the risks. This is because, in most cases, cryptocurrencies are not governed by a single authority or company. They are decentralized, and their value is influenced by the supply and demand ratio. It means that the risk of losing your money is relatively high. Even though you can make money with crypto, you can never be sure your investment will succeed. The least you can do to manage the risks is to explore the project carefully, read its white paper, and get familiar with the team behind the project and its roadmap.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Business &Corporate Strategist

Systemic Strategic Planning

Quality Assurance, Occupational Health & Safety, Environmental Protection, Regulatory Compliance, Crisis & Reputation Management

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.

Over the last few years, cryptocurrencies have proven to be great investments and a trading market. And as the crypto market continues to develop and evolve, there are also new ways and strategies for retail investors to make money.

“Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.”

Cryptocurrencies have become one of the most actively traded assets in recent years. The reasons are diverse: first, they are affordable, and you can buy millions of tokens by investing as little as $100. Another reason is that building a diversified portfolio with cryptocurrencies is easy.

While, in most cases, people simply buy and sell cryptos to speculate on price changes and generate money, there are multiple other options to make money with a cryptocurrency.

8 Best Ways to Make Money With Cryptocurrency in February 2024

1.- Investing Early in Brand New Projects at the Presale Stage

For those who can’t afford to invest in well-established crypto projects, there is an excellent alternative: the New crypto projects. As the market proliferates, more projects are introduced regularly. Not all of them are promising or legit, but if you can find the best and invest in their development’s early stages, you can make massive money from brand-new projects. Before their official launch, it is common among the new crypto projects to conduct private and public presales. During these events, their native tokens are not yet official, but the developing team offers to buy them in the presale stage at low prices once the crypto is officially launched and sent to the presale buyers’ wallets.

2.- Buying Established Crypto Coin Like Bitcoin and Holding Long-Term

Perhaps, the best and the most popular method to make money with cryptocurrency is simply investing in a well-established or promising crypto project in the long term. Established crypto projects are backed with sophisticated plans, introduce new features into the industry, and try to solve real-world problems. These cryptocurrencies are not like speculative assets, which will lose their value once the trend ends. They are quite well-established and will gradually draw attention, growing their demand. If more and more people are interested in a crypto project and invest in it, its value will increase. Consequently, you will benefit from the increased price and generate good rewards in the long term. It is incredibly profitable to invest in assets with low supply. It works perfectly with cryptocurrencies as long as they are decentralized, and no single party can decrease or increase their supply.

3.- Creating a Mixed Crypto Portfolio and Holding Mid-Term

Another great way to make money with crypto is to build a cryptocurrency portfolio that is especially useful in risk management. Building a crypto portfolio means investing in some different crypto assets, including Bitcoin, the best altcoins, and even NFTs which are an emerging asset class of their own. One of the most crucial things to consider when creating a crypto portfolio is to make it diversified. If you invest all your money in one coin, there is a higher risk of losing your capital when the asset crashes. But if you invest in multiple cryptocurrencies, you can reduce the risks of losing money even if some of your assets lose their value. If no massive crash in the market affects all the cryptos, your diversified crypto portfolio will go through minor crashes associated with two or three coins.

There are two ways of building a diversified portfolio: investing in coins with different market caps and investing in versatile crypto projects or competing projects. Classified by market capitalizations, cryptocurrencies fall into three large groups: small, mid, and large-cap. Large-cap cryptocurrencies are the most well-established cryptos: they are less risky, but the rewards are lower. In contrast, cryptos with small market caps include higher risks, and the rewards are higher too.

When selecting a crypto exchange or a platform that will fit best to build a diversified portfolio, you need to select the one that supports many crypto coins, provides diversifying tools, and is secure to hold your cryptos.

4.- Staking Crypto in an Exchange

If you have invested in cryptocurrencies that operate on the Proof of Stake blockchains, you may want to use them for extra rewards instead of keeping them idle. This process is known as staking and is one way to earn crypto using your assets for the time you will be holding them. You lock away a certain amount of your tokens for a specific time to participate in the network securing and transaction validation process. When you stake cryptocurrencies, you earn interest rates for the period you have staked them. Hence, when looking for a staking platform, you must pay attention to how much interest rates the platform pays.

Security is another top priority to consider in a staking platform if you lock your assets and need to keep them secure. Among the most popular staking platforms is OKX, and the decentralized platform Defi Swap which will support staking with high-interest rates. 

Besides staking, there is another way to generate extra money through your idle assets. It is called landing. Some decentralized cryptocurrency exchanges have a pool where users can lend tokens for a specific time, and others can borrow cryptos if needed. Those who lend tokens are granted some rewards, and the borrowers pay interest rates to them for borrowing their money. So, lending is another way to make money with crypto, where you again lock up some tokens to gain interest rates.

5.- Day Trading Cryptocurrencies

Due to their volatility, cryptocurrencies can be highly profitable even for one day. Hence, day trading is one of the most popular ways of making money with crypto. It is called day trading because you take advantage of the frequent price changes of crypto assets to open and close multiple positions during the same trading day. In this way, you make a little profit from frequent trades and can generate massive money throughout the day. However, day trading is not a straightforward process. To be able to day trade cryptocurrencies, you must have at least a basic understanding of the market and learn how to analyze crypto charts and graphs. In this way, you can understand if the value of the asset you want to benefit from will increase or decrease over time.

6.- Free Crypto Drops and Crypto Faucets

Crypto faucets and airdrops are two alternative ways to earn free crypto if you don’t want to risk your money. These methods enable you to earn cryptos without investing anything in them, but the rewards are small too. At least, you don’t put anything at risk and don’t need to develop any special skills, but you can spend some of your free time on it and earn little rewards. Airdrops are events carried out by new cryptocurrency projects during which they send a certain number of tokens to different wallets. In most cases, you will have to do interaction with their project. For example, if it is a decentralized exchange, they may airdrop cryptos to those wallets that have conducted transactions on their platforms. Even though the cryptocurrencies airdropped to your wallet may not be that valuable initially, they may increase over time. Once the cryptocurrency is officially launched, it will gain more value and even reach high prices if the project draws massive attention from investors.

Faucets are another easy way to generate small crypto rewards. These mobile apps or platforms allow you to play games or accomplish tasks and get small rewards in cryptos. Hundreds of platforms are designed for this purpose, and the tasks significantly vary from platform to platform. Sometimes, it can be extremely simple, such as solving the captchas. On our list of all the ways to make money with cryptocurrency, this is one of the easiest; however, the rewards are also small. Other platforms may require playing games and reaching a particular milestone, after which you will be rewarded. It is important to note here that money earned from faucets is relatively low, but it is the safest way of making money with crypto. Play-to-earn games are like faucets: you play and get rewarded for winning competitions or completing specific tasks. But the difference is that those rewards may be higher than with the faucets, and you will need some initial investment to access the platforms.

7.- Going All-In with Altcoins

Altcoin stands for alternative coin, and the word is coined to describe all the other cryptocurrencies created as alternatives to Bitcoin. If you think it’s already too late to invest in Bitcoin, it’s never too late to invest in altcoins. Hundreds of new altcoins are created monthly, and you have a vast selection of assets with thousands of options to purchase. New exciting altcoin projects occasionally spring up in the market, along with some well-established altcoins. These projects refer to different aspects of the DeFi ecosystem, including blockchain gaming, decentralized exchanges, programmable platforms, payment systems, etc. Investing in such promising altcoins during the early stages of their development can be a huge success for you once these projects have finished their presale stage and start to catch investors’ attention.

8.- Crypto Lotteries and Casinos

Like traditional casino and lottery platforms, cryptocurrency casinos incorporate blockchain technology with gaming and lottery elements, giving online gambling a great experience. As with traditional lottery platforms, blockchain lotteries enable you to purchase tickets and participate in competitions. When the drawn lotto numbers match with the numbers of your lottery tickets, you get rewarded from the jackpot pool. The most significant difference between traditional and blockchain-based lottery platforms is that the latter use cryptocurrencies for the ecosystem. You need to buy tickets through cryptos, and the rewards you get are in cryptos. 

Risk Disclaimer

Cryptocurrencies stand out with high volatility, meaning their prices change quite often and fluctuate extensively. On the one hand, it is advantageous if you can quickly generate high rewards. The higher the rewards, the higher the risks. This is because, in most cases, cryptocurrencies are not governed by a single authority or company. They are decentralized, and their value is influenced by the supply and demand ratio. It means that the risk of losing your money is relatively high. Even though you can make money with crypto, you can never be sure your investment will succeed. The least you can do to manage the risks is to explore the project carefully, read its white paper, and get familiar with the team behind the project and its roadmap.

Michel Ouellette JMD, ll.l., ll.m.

JMD Live Online Subscription link.

J. Michael Dennis, ll.l., ll.m.

Business &Corporate Strategist

Systemic Strategic Planning

Quality Assurance, Occupational Health & Safety, Environmental Protection, Regulatory Compliance, Crisis & Reputation Management

Skype: jmdlive

Email: jmdlive@jmichaeldennis.live

Web: https://www.jmichaeldennis.live

Phone: 24/7 Emergency Access

Available to our clients/business partners

Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.