There are many ways to net some gains online with crypto, with varying degrees of risk and reward.
Cryptocurrencies are more than just currencies, some have additional utilities that expand on their inherent function as a medium of exchange. Some altcoins such as Ethereum, Cardano, and Solana are able to be staked to earn passive income with varying degrees of returns.
Before we get started, you should know that holding crypto itself is has considerable risk. Its price can change drastically, so make sure you only put money that you’re ready to lose into cryptocurrencies – and also, with high risk comes higher rewards as well.
Also, gambling involves an element of luck, therefore it’s important to always be aware of your risk levels and limits.
That being said, let’s begin!
Use crypto to make gains through online gambling and trading
Many people earn profit and gains by buying crypto at a lower price, and then selling them at a higher price, in an activity known as crypto trading.
Crypto trading can take various amounts of time. You can trade within the hour or within the week — it depends on how much you are willing to risk.
In general, in the shorter timeframe, crypto trading can be much more risky because the price can seem to move at random. However, at a higher timeframe, you may identify patterns and wait patiently for the right time to buy and sell.
Of course, trading can seem like gambling for beginners. If you are planning to gamble anyway, why not have fun at the same time?
At Gambulls for example, you’ll have access to a diverse library of crypto casino games like you would at a real world casino, like Bitcoin roulette, crypto slot machines, and many more.
Make profit online with crypto by staking
If you believe in the long-term value of crypto, and you want to earn crypto with your existing crypto, you can do what’s known as staking. In a nutshell, staking is like depositing your crypto in a special wallet that gives you interest in crypto.
The interest rate on staking varies depending on the network, but anywhere between 2% to 5% is considered normal.
We admit that it doesn’t seem like a lot. But consider this — many people lose money because they sell their crypto in fear.
Good crypto networks are valuable over time, and so what long-term investors like to do is to buy crypto on a regular schedule.
Whether it’s weekly or monthly, or even bi-weekly, the effect is the same. These long-term investors will end up buying crypto at a low average price; they can then sell the crypto when the market “pumps”.
While they wait, they could stake and earn a little bit of free crypto on the side.
Participate in crypto airdrops
Crypto airdrops are another way crypto can be introduced into the world. Companies that issue them can reward volunteers in the crypto token that is being airdropped.
You can do small things like share a social media post or do other quick errands to market the company’s products.
You’ll then receive the crypto token, and after a while, you can sell them for cash. Of course, you can also not sell the token, and wait until its price rises — just be aware of the risks, because not all airdropped cryptos become successful.
Crypto mining
Some cryptocurrencies, such as Bitcoin, can be “mined” by using specialized computer hardware to solve complex mathematical problems. Miners are rewarded with a small amount of the cryptocurrency for each problem they solve.
We admit that Bitcoin isn’t the easiest crypto to mine, but there are many mineable cryptos that can be mined using a PC with regular specs. Some companies even dared to create tokens that can be mined using a mobile phone.
You need to do a lot of research on this, particularly the technical bits — which we won’t get into. But if you set up a mining rig correctly, you can essentially sell excess power (if you happen to have a solar panel) for money!
Selling products and services
As of this writing there are over 10+ countries (and counting) that have legalised cryptocurrencies, such as the U.S., Canada, Denmark, El Salvador, Australia, Germany, and even most of the European Union (EU). That means you can easily charge accept crypto as an alternative payment option for your products and/or services.
Another way to sell products and earn crypto directly is to mint NFTs or non-fungible tokens. If you can produce digital works — photographs, music, videos, digital paintings — you can upload that into OpenSea or SolSea, and turn them into NFTs.
Then, on these marketplaces, you can put them up for sale for however much crypto you want!
Takeaways
As you can see, there are a few good ideas on making making profit and gains online with crypto. You can trade or gamble crypto. You can invest in crypto for the long-term and staking them for a small amount of interest.
You can participate in airdrops. You can sell products and services online and payments can be made in crypto.
If you are technically inclined, you can try having a go at crypto mining using the hardware you can afford to set up. Happy earning!
Lastly, it’s important to keep in mind that should you choose to participate in online gambling, any casino game will always have an element of luck. Despite the RTP claimed in the casino games, you still should be aware of your limits and set a target for when you want to fold and cash in your gains.
Gambulls is not responsible for any loss in funds caused by personal errors, such as but not limited to, transferring crypto assets to the wrong wallet address.
Additionally, crypto assets are highly volatile with price and market fluctuations that vary greatly depending on many factors. Be sure to assess your risk levels and do your own research on the crypto coins you decide to use before proceeding.
