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In a previous article here on Cryptosavvy we discussed the many different ways to make money online. We detailed how you can work remotely as a content writer, influencer, or even an online coach. In this article, we are going to talk about a more specific industry that could provide you the opportunity to earn money on the side
The cryptocurrency market is a very popular investment medium, thanks to Bitcoin's rising popularity. Currently Bitcoins are very expensive to own, but investors looking to get into the cryptocurrency market now have the option to invest in alternatives. If Bitcoin is too expensive for you, below are 6 cryptocurrency investment mediums that you can use to make money through cryptocurrency.
Bitcoin Cash
Bitcoin Cash is one of the hard forks of Bitcoin. It addressed one of the biggest flaws of the cryptocurrency by providing miners bigger block sizes, which allowed more transactions to be processed. Bitcoin Cash hasn't been around for long, but it has already established itself as one of the top cryptocurrencies for investors on the market. The Coin Telegraph claims that it is the world's fourth most popular cryptocurrency, and it trades at approximately $770 per share as of this writing. Bitcoin Cash's prices have a positive correlation with Bitcoin so when the latter's prices go up, so does the former's value.
Litecoin
Like Bitcoin Cash, Litecoin is one of the forks of the Bitcoin ledger. It was created in order to address the cap on the number of Bitcoins that can be mined. Bitcoin only has a total of 21 million mineable coins, while Litecoin has 84 million. When Bitcoin has long been depleted, miners will still have the option to mine and make money out of Litecoin. Currently, the cryptocurrency is currently valued at $130 per coin. Apart from a higher mining cap, what makes Litecoin attractive to investors is the fact that transactions are 4 times faster. A Bitcoin transaction takes 10 minutes to finish, while a Litecoin exchange only takes 2.5 minutes.
Ripple
Ripple is a cryptocurrency that has enjoyed remarkable growth in the past few years. The Independent states that it has continued to gain traction, appearing on an increasing number of exchanges and being adopted by several merchants and financial institutions. Unlike Bitcoin Cash and Litecoin, Ripple isn't generated by mining. The units are limited to 100 billion, and 99 billion have already been mined as of January 2018. Once Ripple reaches its cap, its holders can focus on trading them at a market value that reflects the popularity of the cryptocurrency market. Currently, each Ripple costs $0.60.
Blockchain ETFs
The popularity of Bitcoin and other cryptocurrencies have opened up a new avenue for investing in the form of exchange-traded funds (ETF). Basically, ETFs are like mutual funds in the sense that they offer blockchain-specific stocks. These stocks are usually being offered by companies that are furthering the use of blockchain for the advancement of the financial and tech industries. The biggest corporations in the world are heavily investing in blockchain technology as it has the potential to revolutionize multiple industries. If you want to invest in the future, blockchain ETFs are a good place to start.
Bitcoin Spreads
Bitcoin spreads are investment vehicles that allow investors to get exposure to Bitcoin. Nadex states that traders don't need to hold actual Bitcoins in order to trade spreads; instead, traders only need to purchase contracts to start trading. In spread trading, traders track the price movement of Bitcoin and make money by correctly guessing whether or not the price of the cryptocurrency will go up or down at a certain time. Bitcoin spreads allow traders to take short-term positions, which give them a risk-reward protection that not all assets provide. Selling assets is as easy as buying them, which gives traders the opportunity to make a profit every time the prices of Bitcoin go up.
Bitcoin Futures
Bitcoin futures were first launched by the Chicago Board Options Exchange (CBOE). This type of investment gives people a chance to buy Bitcoin at a certain price, and receive them at a later date. Futures are perfect for Bitcoin because of the cryptocurrency’s volatility. Investors purchase Bitcoins when their prices are low, and receive them at a later date for the same price. Even if Bitcoin prices have increased since the contract has been made, investors will still only pay for what was written into the contract.