How To Make Money By Trading Cryptocurrency In 2024

Over the past few years, crypto industry has seen prosperous development as it offers multiple investment options for investors to get massive return. In 2024, with the huge rise in the value of Bitcoin, Ethereum, and other cryptocurrencies, more and more people are seeking ways to capitalize on this new digital asset.

As the market keeps growing, new ones keep opening up. There are multiple ways to generate a passive income from crypto. This article will give a detail guidance about how to start making money by crypto trading and active methods that you can use, thus helping you earn generous return from crypto trading.

---

BTCC offers 300+ virtual currency contract trading pairs with leverage ranging from 1Χ to 225Χ. If you want to start trading cryptocurrencies, you can start by signing up for BTCC.

＼Trade On BTCC With 10 FREE USDT!／

---

Table of Contents

How to Start Making Money with Crypto?

Seven Proven Ways for Making Money with Crypto

Mining

Participating in Presales

Trading

Arbitrage

Staking

Yield Farming

Lending

Final Words

＼Trade On BTCC With 10 FREE USDT!／

How to Start Making Money with Crypto?

If you’re quite interested in making money with cryptocurrency, the first step you need to do is do enough research. If you have great knowledge about the different types of cryptocurrencies, the various methods of making money with crypto, and the pros and cons of each methods, etc., it would be easier for you to start investing.

Besides, finding a reliable and secure way to store your cryptocurrency is equally significant.  You can use a hardware wallet, a software wallet, or an online exchange. Whichever you choose, make sure it’s secure, and you can trust it with your money.

Download App for Android

Download App for iOS

Seven Proven Ways for Making Money with Crypto

Next, we will introduces seven proven methods for making money with crypto in 2024 and beyond. Whether you are a beginner or a seasoned investor, this article will offer you more insight and knowledge that help you to make money with your cryptocurrency investments.

＼Trade On BTCC With 10 FREE USDT!／

Mining

The most common way to make money with crypto is through mining. The backbone of cryptocurrency is blockchain, which requires many computers working in parallel to create a secure, working chain. Mining verifies transactions on the blockchain and adds new blocks of data to the chain. By doing this, miners are rewarded with cryptocurrency for their effort.

While it should be noted that mining requires a large investment and time cost, and the benefits are easily affected by market fluctuations and the difficulty of mining. Therefore, it’s essential to do your research before getting started.

Participating in Presales

Pre-selling is a practice performed by some crypto projects to raise fund ahead of an initial coin offering, in which tokens are sold to interested parties at a certain price. Presales of new crypto projects and dApps offer investors early access to tokens at discounted prices. Cryptocurrencies available in presales are often listed at discounted prices, which enables the investors to invest in promising projects at a lower cost.

However, it is worth noting that presale carries with risks. If a project fails or token depreciates , investors can find themselves owning worthless tokens, unable to make a profit from their investment.

Trading

Crypto trading is one of the most popular ways to make a quick profit. This method involves buying and selling cryptocurrency on a crypto exchange. Investors can basically buy cryptocurrencies at a lower price and then sell at a price higher than the buying price, thus making a profit.

Some common crypto trading strategies include day trading, future trading, long-term investment, bot trading, leverage trading, etc. However, investors should aware that trading cryptocurrency is risky and can result in losses. Investors, therefore, must carefully study the market trends and learn about chart patterns and other aspects of trading before flirting with the idea of making money via crypto trading.

Arbitrage

There often exist some price differences for the same assets in different exchange platforms. Arbitrage involves making profits from these differences. It requires constant monitoring of the price dynamics of each trading platform and capture arbitrage opportunities in a timely manner.

However, as arbitrage opportunities are fleeting and subject to transaction costs and slippage risks, quick execution is essential to enhance profits.

Staking

Staking crypto is widely popular in the crypto investment categories. Staking involves holding a certain amount of coins in a wallet or pool for some fixed terms. The process enables the working of Proof of Stake blockchain networks. And in return, the stakers earn rewards. Furthermore, the staking process contributes to network security and consensus.

Notably, the rewards for staking vary based on different factors, such as the platform used for staking, the staked crypto network, the number of coins you are staking, staking duration, etc.

Yield Farming

Yield farming, which is also known as liquidity mining, is basically providing liquidity to DeFi protocols. During the process, investors lend their cryptocurrency to a platform in exchange for interest. The amount of interest investors earn is solely depend on the platform and the type of cryptocurrency they are lending.

Although there are many platforms offering yield farming opportunities, It is crucial to pick a trustworthy platform as not all of them are safe or reliable.

Lending

Cryptocurrency lending is another method to monetize crypto. It involves lending your cryptocurrency to someone else in exchange for interest. There are multiple lending platforms to choose from – each has its own set of advantages and disadvantages, which largely depend on options like interest rates and other lending terms. Notably, the interest rate you receive would depend on the type of cryptocurrency you are lending and the amount you are lending.

＼Trade On BTCC With 10 FREE USDT!／

Final Words

Making money with crypto is a great way to generate passive income and grow your wealth. However, any investment carries with both opportunities and risks. As making money through cryptocurrency trading requires market analysis skills, risk awareness, and investment strategies, all investors are advised to fully understanding the market conditions and platform rules before choosing appropriate trading methods and investment strategies.

＼Trade On BTCC With 10 FREE USDT!／