How to earn money on cryptocurrency from scratch in 2023

Cryptocurrency is not only a modern way to pay on the Internet, but also an opportunity to earn money in the growing market of digital assets. There are many different ways to earn money on cryptocurrency, which are suitable for different levels of knowledge and experience.

Ways to earn cryptocurrency

Mining is the process of creating new units of cryptocurrency using special equipment or software. Miners are rewarded for keeping the network running and confirming transactions. Mining can be profitable, but it requires high electricity and equipment costs. The most striking example of a cryptocurrency where mining is popular is bitcoin.

Trading is the buying and selling of cryptocurrencies on special exchange platforms. Traders are trying to capitalize on the difference in the price of cryptocurrency at different times. Trading can be highly profitable, but it also comes with a high risk of losing money due to market volatility.

Holding is the long-term storage of a cryptocurrency in the hope of its growth in the future. Holders do not sell their assets when the price fluctuates, but wait for the right moment to exit the position. Holding can be a reliable way to earn money on cryptocurrency, but it requires patience and faith in the prospects of the project.

Crypto lotteries are games of luck in which participants place bets in cryptocurrencies and get a chance to win a jackpot or other prizes. Crypto lotteries can be a fun and easy way to earn money with cryptocurrencies, but they also carry the risk of losing all your funds.

NFTs are non-fungible tokens that represent unique digital objects such as images, videos, music, games, etc. NFTs can be created, bought and sold on special platforms. NFTs can be a valuable source of income for artists, developers, and collectors.

Airdrops are the free distribution of cryptocurrency or tokens to new users or existing holders of other assets. Airdrops are held to promote new projects.

Retrodrops are the free distribution of cryptocurrency to users who already own certain coins or tokens. The purpose of a retrodrop is to draw attention to a new project, expand the user base, or reward loyal holders. To receive a retrodrop, you need to register on the project website, confirm your wallet address and fulfill some conditions, for example, subscribe to social networks or pass KYC verification. Examples of successful retrodrops: Uniswap, 1inch and Stellar.

Staking is a way to earn money on a cryptocurrency that works on the Proof-of-Stake (PoS) consensus algorithm or its modifications. The essence of staking is that users block their coins in a special wallet or on an exchange and receive a percentage of their amount for maintaining the network. Staking allows you not only to earn passive income, but also to participate in project management by voting for development proposals. Examples of popular cryptocurrencies for staking: Algorand, Cardano, Polkadot, and Tezos.

ICO is a way to earn money on cryptocurrency, which consists in participating in the initial placement of tokens of new projects. ICO (Initial Coin Offering) is when a project sells its tokens on the open market at a fixed price.

A launchpad is when a project sells its tokens on a special platform that conducts a preliminary check and selection of projects. The goal of participating in the ICO/Launchpad is to buy tokens at a low price and sell them at a high price when they appear on the exchanges. Examples of successful ICOs/Launchpads: Binance Launchpad, Solana Launchpad and Polkastarter.

Borrowing/Lending is a way of earning from cryptocurrencies based on giving or receiving loans in digital assets. Lending is when a user lends his cryptocurrency to other users or platforms and receives a percentage for using his funds. Borrowing is when a user receives a loan in digital assets from other users or a platform, securing their assets as collateral. In both cases, the goal is to earn interest on a loan, or to use the borrowed funds for trading or other investment activities.

Examples of platforms that provide borrowing and lending services in cryptocurrencies include Compound, Aave, and MakerDAO.

Cryptocurrency ambassadorship is an effective way to earn money based on participation in the promotion and support of projects and cryptocurrencies. Ambassadors tend to be enthusiastic and passionate about a specific project. Their task is to actively promote the project in the community, attract new users, organize events, participate in conferences and conduct educational events.

Ambassadors are rewarded for their activities in the form of tokens or other digital assets. This can be either a fixed amount or a percentage of the total funds raised through their efforts. In addition, ambassadors may have perks such as access to exclusive events, feedback from the project team, and the ability to influence the development and direction of the project.

P2P arbitrage (peer-to-peer arbitrage) is a way to earn money on cryptocurrency, which is based on the use of price differences between different sites or exchanges.

The idea is to buy assets such as cryptocurrencies or tokens on one platform at a lower price and sell them on another platform for a higher price. The difference in prices allows arbitrageurs to make a profit.

For successful P2P arbitrage, it is important to have access to various platforms and exchanges, as well as use automated trading bots or programs to track and execute transactions with minimal delays.

Liquidity providing is one of the ways to earn money on cryptocurrency. This method is based on participation in the so-called liquidity pools, which are used in decentralized exchanges and exchange protocols.

The provision of liquidity is based on the concept of exchanging one cryptocurrency for another using automated systems and algorithms. Pool participants send their assets to the pool to ensure its liquidity. For this, participants receive commissions or rewards in the form of protocol tokens.

Tips for earning cryptocurrency for a beginner

In the world of cryptocurrencies, there are various ways to earn money, and it can be difficult for beginners to understand them all at once. It is important to choose the right niche and understand it - with the right strategy and knowledge, you can succeed. Here are some tips to help you start earning cryptocurrency:

1. Do research about different cryptocurrencies, projects and ways to earn money. Assess their growth potential, stability and reputation.

2. Invest in different cryptocurrencies to reduce risks and increase potential profits. Spread your funds between trading, staking, landing and other methods.

3. Avoid scam projects and dubious quick profit schemes. Do your due diligence before investing and stay alert for suspicious offers.

4. Learn the basics of cryptocurrencies and blockchain to understand how they work and their potential. Join communities, forums and blogs to get up-to-date information and advice from experienced traders.

5. Set reasonable goals and limits on losses. Use stop loss orders to protect your funds from significant price drops.

6. Consider investing in cryptocurrencies as a long-term strategy. Do not try to get instant profit, but focus on the fundamental aspects of projects.

7. Explore new methods of earning money, such as providing liquidity or participating in retrodrops. This can provide you with additional sources of income.

8. Use secure wallets and exchanges to store and trade cryptocurrencies. Keep your accounts secure with strong passwords and two-factor authentication.

9. When profiting from cryptocurrencies, save some for reinvestment or diversification into other projects. This will allow you to expand your portfolio and increase your potential profit.

10. Cryptocurrencies and blockchain is a rapidly evolving field, so keep learning and staying up to date with the latest trends and news. Use available resources such as webinars, courses, and publications to improve your skills and knowledge.

11. Try different earning strategies to find the one that best suits your goals and style. Experiment with trading, staking, landing and other methods to determine the most effective approaches.

12. Making money with cryptocurrencies takes time and patience. The market can be volatile, so don't panic about short-term price fluctuations. Keep your focus on your long term goals.

Instructions for earning cryptocurrency

Do you want to learn how to earn cryptocurrency step by step? We will analyze each type of earnings in more detail and consider useful tips for achieving success.

Mining

Steps for a beginner in cryptocurrency mining:

1. Research and choose a cryptocurrency.

2. Prepare specialized equipment.

3. Create a secure wallet to store your cryptocurrency.

4. Join a mining pool to increase your chances of earning rewards.

5. Install the software corresponding to the chosen cryptocurrency and hardware.

6. Set up and test hardware and software.

7. Track progress and get rewards through the pool control panel.

8. Manage the mining process and adjust the settings if necessary.

9. Be prepared for the financial and technical risks associated with cryptocurrency mining.

10. Follow the news and updates in the cryptocurrency industry.

Remember that cryptocurrency mining requires investment, is competitive and depends on many factors.

Trading

Steps for a Beginner in Cryptocurrency Trading:

1. Get basic knowledge about the cryptocurrency market and trading. Learn the concepts, strategies and analytical tools of trading.

2. Define your goals and develop a strategy that matches your goals.

3. Choose a reliable crypto exchange and open an account. For example, the ATAIX Eurasia crypto exchange is the first licensed crypto exchange in Kazakhstan.

4. Study the market and use technical and fundamental analysis to predict prices.

5. Set a stop loss and take profit to protect your capital.

6. Start with small amounts and gradually increase investments.

7. Constantly monitor the market and update your strategies.

8. Maintain discipline and control emotions when trading.

9. Join the community of traders and communicate with experienced people.

10. Constantly develop and learn new strategies and tools.

Be aware of the risks and start with small amounts. Over time, you will be able to develop your own trading style and achieve success in the cryptocurrency market.

Holding

Instructions for a beginner on holding cryptocurrency:

1. Study the project and its prospects.

2. Create a secure wallet to store your assets.

3. Define your holding strategy, taking into account risks and goals.

4. Invest carefully and diversify your portfolio.

5. Stay tuned for news and updates in the cryptocurrency industry.

6. Evaluate regularly the performance of your investments.

7. Manage your emotions and stay calm during price fluctuations.

8. Keep your assets safe and use secure wallets.

9. Stay informed about your tax liability.

10. Connect with the community to share experiences and ideas.

Holding cryptocurrencies can be profitable, but it also carries risks. Be careful, informed and make your own decisions.

Crypto lotteries

Instructions for beginners in crypto lotteries:

1. Research the reliability of the platform before playing.

2. Set a budget and don't exceed it.

3. Understand the rules of the game and the probability of winning.

4. Diversify your bets to increase the chances.

5. Manage your emotions and don't overdo it.

6. Use reliable wallets and platforms.

7. Play responsibly and don't count on guaranteed income.

Remember that crypto lotteries are games of luck and may have risks of losing funds.

NFT

Milady - NFT collection, known for its community, shows phenomenal growth even in the bear market

Steps to understand and get started with NFT:

1. These are unique digital assets representing digital objects.

2. Explore platforms where you can create, buy and sell NFTs.

3. Install a wallet to store and manage NFTs.

4. Buy cryptocurrency to use it to buy NFTs.

5. Explore available NFTs and choose the ones you are interested in.

6. Use cryptocurrency to buy and sell NFTs.

7. Verify the authenticity and authorship of NFTs to avoid fraud.

8. Join communities and forums to communicate and learn.

9. Create and sell your NFTs or collect valuable collections.

10. Use your creativity and explore new possibilities in the NFT world.

Remember that the NFT market can be volatile, so be careful and do your own research.

Airdrops

AISHIB token has been airdropped to those who received an airdrop from the Arbitrum project

Steps to earn money through airdrops:

1. Look for reliable projects with airdrops and evaluate their reputation and potential.

2. Prepare a wallet for airdrop tokens and ensure full control over private keys.

3. Get information about upcoming airdrops by subscribing to project mailing lists.

4. Fill out surveys, register on platforms, complete tasks on social networks and other activities to earn tokens.

5. Invite friends through referral links and get bonuses for their participation.

6. Participate in airdrops on time and complete all required activities.

7. Keep the tokens in your wallet or withdraw them to the exchange for trading.

Do your own research and be careful to avoid scams and remember that token prices can change.

Retrodrops

Steps to earn with retrodrops:

1. Study projects.

2. Prepare your wallet.

3. Register on the project website.

4. Fulfill the conditions of the retrodrop.

5. Check the status of the retrodrop.

6. Manage received tokens.

Remember, do your research, be careful, and be prepared to take risks.

Staking

Examples of annual returns on staking

Steps to earn money with staking:

1. Choose reliable cryptocurrencies based on Proof-of-Stake and with high potential.

2. Install a wallet or use a staking exchange.

3. Buy your chosen cryptocurrency on the exchange.

4. Stake your coins or leave them on the exchange.

5. Get interest from locked coins for supporting the network.

6. Be active and vote for the development of the project.

7. Withdraw or add coins to staking according to your goals.

Be aware of the risks and do your research before staking.

ICO/Launchpads

Steps to earn money on ICO / Launchpad:

1. Study projects conducting ICOs or participating on Launchpads. Assess their potential, team and business model.

2. Create a wallet to hold your tokens and make sure you are ready to invest.

3. Subscribe to the official channels of Launchpad projects and platforms to stay up to date with upcoming ICOs or new projects.

4. If there is an opportunity to pre-purchase tokens, take part and purchase tokens at the offered price.

5. When the ICO or Launchpad starts, follow the instructions and purchase the tokens according to the offer.

6. After receiving the tokens, keep them in your wallet and follow the management instructions.

7. When the tokens become available on the exchanges, you can sell them or trade them for profit.

It is important to remember that ICOs and participation on Launchpads are associated with high risks, so do your research, assess the risks and invest only the funds that you are ready to lose.

Borrowing/Lending

How to earn money on borrowing and lending

1. Explore platforms that provide lending and borrowing services in cryptocurrency.

2. Create an account on the chosen platform and replenish your wallet with cryptocurrency.

3. Decide whether you want to lend your funds or receive borrowed funds.

4. Specify the required terms or loan amount and confirm the operation.

5. Keep track of your transactions, interest rates and maturity dates.

6. Review your operations regularly to optimize profitability and manage risk.

Keep in mind that lending and borrowing have their own risks, such as the borrower's insolvency or loss of collateral. Do your research and choose the platform that suits your goals and preferences.

Ambassadorship

Brief instructions for earning on ambassadorship in cryptocurrency:

1. Choose a project that interests you and that you share the same values with.

2. Join the official community of the project on various platforms.

3. Actively promote the project, share information and create content.

4. Attract new users to the project community.

5. Participate in educational activities and educate newcomers.

6. Be active at events and conferences related to the project.

7. Get rewarded in the form of tokens or digital assets for your activity and contribution to the development of the project.

Keep in mind that being an ambassador takes time and dedication to the project. Be ready for active work and constant updating of information.

P2P arbitration

Instructions for earning on P2P arbitrage in cryptocurrency:

1. Explore platforms and exchanges.

2. Identify price differences.

3. Register on the selected platforms and create an account.

4. Use automated trading tools.

5. Monitor prices and arbitrage.

6. Manage risk and profit.

Please note that P2P arbitrage has risks and requires thoroughness and promptness.

Liquidity providing

Instructions for earning money on liquidity providing in cryptocurrency:

1. Study decentralized exchanges and exchange protocols.

2. Identify the liquidity pools suitable for your participation.

3. Create a wallet that supports the tokens with which you want to provide liquidity.

4. Transfer your assets to the selected liquidity pool.

5. Set the exchange price and the share of assets you want to provide.

6. Receive commissions or rewards for your participation in the liquidity pool.

It is important to remember that providing liquidity involves risks, such as loss of assets or unforeseen price fluctuations. Do your research and assess the risks before participating in liquidity pools.

Conclusions 

Use these tips as a starting point for your cryptocurrency journey. Remember that the cryptocurrency market has its own risks, so be prepared for possible losses and make investment decisions consciously and based on your own analysis. It is important to constantly update your knowledge and keep abreast of the latest trends and developments in the world of cryptocurrency. Join communities and connect with experienced traders and investors for valuable advice and guidance. Don't forget about security: use reliable wallets and platforms, set up two-factor authentication, and be careful of suspicious projects and schemes. Your success depends on your hard work, constant learning and strategy. Follow your financial goals, don't let your emotions influence your decisions, and believe in your abilities. Good luck on your journey into the world of cryptocurrencies!

This information does not constitute individual investment advice and may not reflect your investment objectives, expectations and acceptable risks. ATAIX Eurasia is not responsible for possible losses in case of making transactions or investing in the financial instruments mentioned in this information, and does not recommend using it as the only source when making an investment decision