Making Money from Cryptocurrency in 2022

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In cryptocurrency a lot of early adopters managed to make a killing because they got involved early on. This meant they managed to get their hands on Bitcoin or other cryptocurrencies when they were still cheap. When the 2017 bull run happened they became overnight millionaires. The same could be said of bitcoin miners, those who got involved early made a killing as it was easier to get involved, by this I mean the difficulty levels were lower and the rewards were bigger (that's because the bitcoin block reward halves every few years). The more people that got involved the harder it became to mine.

Making money in cryptocurrency in 2020 and beyond

Crypto Trading

As far as bitcoin trading is involved, it's a matter of skill, self discipline and a bit of luck as you gather all the information possible through technical analysis and market sentiment analysis to see which direction the markets are likely to move in and when. At the end it’s like gambling, timing is everything. After the 2017  bull run and subsequent crypto winter in 2018, there was a mini bull run in the first half of 2019 which provided an opportunity for those who bought low in 2018 to make massive profits. Trading requires discipline and rules that you set for when you sell and when you buy so that you don’t make emotional trades. Emotional trades lose you money. There will be other opportunities to make money trading crypto but not necessarily as big as December 2017.

The Alts market has diminished since 2017 and early 2018, with Bitcoin being the most dominant. The original crypto and the more established altcoins are still in play though, the smaller and newer alts have lost traction because they had no actual value or real-world application.

Crypto Mining

Bitcoin mining is not easy nor is it cheap, the cost of electricity alone would depend on where you live in the world. Being a solo miner has never been harder, but there are ways to be profitable even in bitcoin mining such as joining established mining pools (Miners pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed) . Another example is investing in companies who set up mining rigs for the most profitable cryptocurrencies in location around the world where electricity is cheaper. One such company is Australia’s leading blockchain mining company NGS Crypto which has recently set up shop in South Africa. They offer bitcoin mining as an investment.

Making money from BTC is not as easy as it used to be but there are still ways to make a profit for those who want to get involved. You just need to find create ways to make a profit, and adapt to the current market.