When you live in a biscuit world its your responsibility to get a piece of that biscuit. And in the case of getting rich with crypto there are some things that you can apply to give yourself an edge. In life its all about edges and there usually small but add up over time. Keep in mind this is not financial advice, but if you want to get rich in the cryptoverse its time to listen up.
Also, if you’re looking to play some crypto poker, we’ve got 5 of the best apps to check out right here.
Tip 1. Try Play To Earn Games
Our first tip is to get involved in the play to earn crypto community. When thinking about how to make money on cryptocurrency, you might be surprised to learn that this can be done by playing games. Make no mistake about it – the play-to-earn crypto game marketplace is now worth billions dollars. There are lots of titles in this space such as Decentraland, Axie Infinity, and Plant vs Undead.
For example, Decentraland offers a metaverse that enables players from all over the world to create a virtual avatar, chat with other people, and most pertinently – buy plots of land. Once you have purchased a plot of land and built your own real estate project, this is then represented in the form of a unique NFT.
Tip 2 . Swing Trading
The second way you can get rich with cryptocurrency is by swing trading. Basically, swing trading is all about buying on market dips and then quickly selling on a rebound. Typically the percentages you try to make doing this are around 3 to 7 percent, but when done right these amounts start to add up. Obviously swing trading takes a lot of practice to get good at but it is a viable way to get rich in crypto. Try saving up a minimum of $2000 if you decide to go this route.
Tip 3. Staking
Our third tip is to try out staking. While staking and interest accounts will not necessarily enable you to get rich unless your holding millions of dollars of cryptocurrency already, it is a viable way to earn passive income doing nothing. This investment product typically offers investors the choice of fixed or flexible terms. The latter enables investors to withdraw their cryptocurrencies at any time, albeit, the interest rate on offer will usually be lower. To get the highest interest rate possible, investors might consider a fixed term – which could be anything from 30 days to an entire year.
Tip 4. Day Trading
Fourth, and ultimately our least favorite way is to try day trading. If you’re looking for the highest risk reward option when trying to get rich via cryptocurrency, consider day trading. Cryptocurrency is so volatile that in the course of even a single day you can often earn significant sums. Just realize that it’s also highly likely that you’ll lose a significant amount of your investment. Just be careful if you decide to give this method a try.
Tip 5. Long Term Holding
Lastly, you can try and go the safe route and just do the old school buy and hold. Crypto assets are generally well suited to a buy-and-hold strategy. They are extremely volatile in the short term but have tremendous long-term potential for growth. The investing strategy requires you to identify more stable assets that will be around for the long term. Assets such as Bitcoin and Ethereum have been known to show a long-term price increase and can be considered a safe investment in this regard.
Top 4 Long Term Cryptos
We would actually now like to recommend 4 coins for you guys to get in on that we believe have some seriously good long term potential.
First up we have Metacade. This is one of the best cryptos to buy right now. It will become the biggest ecosystem of play-to-earn arcade games on the blockchain, delivering vast earning potential for gamers across many different online games and changing the crypto space. As well as this, Metacade aims to be a central location for Web3 users to socialize, share information, and collectively drive progress for the GameFi movement.
Metacade’s social hub will pay contributors using MCADE tokens. Content creators can earn cryptocurrency by posting game reviews, sharing alpha, and interacting with other members of the Metacade crypto community, as Metacade’s Create2Earn mechanic is specially designed to incentivize knowledge-sharing and community involvement. The platform will also advertise jobs for crypto and Web3 enthusiasts looking to start their careers in Web3. Jobs can include gig work, freelance roles, and full-time positions from 2024 onward, as well as unique beta-testing roles that reward gamers for providing feedback to development teams before new games are launched.
Metacade is community-driven and enables developers of games to get a kick start of financial support during their early stages. Developers will submit investment proposals to the community, who will vote to decide which new games should be funded. The winning projects will be brought into the Metacade when they are completed for the community to play.
MCADE will be used for several core functions within the Metacade ecosystem. It will be used to gain access to paid entry tournaments, where gamers can test their skills against players from all over the world. It will also be used to pay cryptocurrency rewards in Metacade’s primary features: Play2Earn, Compete2Earn, Create2Earn, and Work2Earn. While it’s still in its presale stage investors have had a chance to win real world rewards such as mini arcade machines. Bottom line keep an eye on this and grab some of it asap.
Second, we have Tron. Tron is a fast-growing blockchain network shaking up the dApp development world. Its secure Smart Contract functionality and decentralized platform structure have many similarities to ethereum, another leading smart contract protocol. However, what really sets Tron apart from other popular blockchain networks is its emphasis on content creators. Tron aims to give content creators more control over their work by cutting out intermediaries such as YouTube and directly connecting them with their audience. This exciting shift in the landscape could mean great things for content producers and consumers alike, allowing users to benefit from innovation within the space truly.
Tron also has a pretty forward-looking consensus mechanism. With its highly-liquid Proof-of-Stake model and compatibility with the Ethereum Virtual Machine, Tron has become a significant player in the blockchain world. And with recent high-profile partnerships with companies like Samsung, Tron’s credibility and potential are skyrocketing.
And third we have Stellar. Stellar lumen is an influential cryptocurrency that was created to provide financial services to those underserved by the traditional banking system. By utilising its cutting-edge blockchain technology, this innovative digital currency has been able to break down the boundaries that traditionally limit access to essential financial services. Thanks to stellar lumens, millions of people around the globe now have more significant opportunities for pursuing their dreams and ambitions. Whether you need money for your business or want to send funds back home, stellar lumens has you covered. With rapid transaction speeds and ultra-low fees, it is quickly becoming the preferred payment method for those looking to bank the unbanked and enable economic growth worldwide.
However, its KYC feature truly sets it apart from its competitors. Unlike many other digital currencies, which anyone with an internet connection can use, stellar requires its users to go through a process to determine their identity and verify their transactions. This mechanism helps reduce fraud and increase security, making stellar a more trusted payment method for consumers and businesses. Furthermore, this feature gives stellar the potential to be integrated into existing banking infrastructures and financial systems, further enhancing its appeal as a payments currency. Overall, stellar’s KYC features make it an attractive option as a future-forward payments solution.
Fourth we have that good old xrp. Hype matters when it comes to a cryptocurrency’s growth potential. We have included XRP in the list of top cryptocurrencies to explode in next year. There is so much expectation that if the case between SEC and ripple ends in ripple’s favour, FOMO could take this cryptocurrency to a new all-time high.
Besides the potential hype around the SEC case, there is a lot of expectation around integrating XRP into ripplenet products that target the banking industry. At its core, XRP is designed to facilitate fast and low-cost currency exchange. Ripple has created an innovative payment system that gives users access to an extensive network of global currency exchange partners. Moreover, thanks to its decentralised structure and peer-to-peer transactions via distributed ledger technology, transactions on ripplenet can process very quickly with low processing fees relative to traditional banking systems. And although many skeptics doubt whether or not such a novel approach will prove successful over the long term, there are plenty of reasons for investors to be optimistic about XRP’s chances of success. One of them is that banks, especially in Asia, are already adopting ripple’s technologies, including those that use XRP for cross-border payments.
With demand for cryptocurrencies continuing to soar, many believe that XRP is set up for big things shortly. Whether it’s from its growing adoption in banking, gaining market share from traditional banks, or simply riding the interest in cryptocurrencies, there’s no doubt that XRP has a lot of growth potential. Given that XRP is currently at a significant discount from its all-time highs of 2017, there is a good chance it is a cryptocurrency that could explode in value in a big way soon.