How to earn from scratch on crypto in 2024

The first question everyone is interested in is how much money is earned on cryptocurrency? 🤫 The answer to this question is ambiguous: you can both make money quickly by investing in crypto assets and easily lose it. It largely depends on the skills and ability to analyze the situation on the crypto market!

1️⃣ Understand the basics of cryptocurrencies!

There are several points to consider before making money on crypto:

What is a cryptocurrency? A cryptocurrency is a digital or virtual asset that uses cryptography to ensure the security of transactions.

A blockchain is a decentralized database that records all transactions in the form of blocks.

Major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and others.

2️⃣ Choose an earnings strategy

Here are examples of cryptocurrency earnings, and each of them has its pros and cons:

✅ Investing 

This is the purchase of cryptocurrency for a long-term period in order to sell it at a higher price. To do this, you need to:

✅ Open an account on a cryptocurrency exchange (for example, Binance, Kraken, Coinbase).

Purchase cryptocurrency and keep it on your wallet.

➕ Advantages: High profits.

Disadvantages: High volatility.

✅ Trading.

This is the active sale and purchase of short-term assets with price fluctuations. 

Earnings on short-term fluctuations.

❌ Spending time on market knowledge.

✅ Staking and farming

This is the freezing of cryptocurrencies to maintain the functioning of the blockchain, for which you receive a reward. 

Passive income.

❌ Possible loss of money.

3️⃣ Learn to analyze the market

This is the key to making money! The more you know, the less risks and losses you will have.

4️⃣ NFT 

These are digital assets that can be bought and will belong to you. These are pictures, music, etc.

Earnings are possible, but they require time, patience, and readiness. The main thing is to take your time. Good luck on this exciting journey! 🚀