Thursday, September 23, 2021
cryptocurrency

Trading and other ways to earn a living with cryptocurrency

Crypto trading means buying and selling cryptocurrencies on crypto exchanges, with a number of these service providers offering unique products and services for global investors and traders to leverage.

A number of crypto exchanges are currently working tremendously to optimize, improve and advance technologically by offering a robust suite of standard trading mechanisms — such as derivatives like spots, futures, options, staking, and margin trading.

These crypto trading platforms position themselves as being built “by traders for traders,” and though they are sophisticated enough to accommodate professional trading firms, they strive to be straightforward enough for basic usage and everyday trading.

They also design mechanisms to increase the utility of exchange tokens for the exchange users. For example, on leading crypto exchanges like FTX, token holders earn fee rebates on the exchange platform depending on the amount of token they hold, with trading fee discounts ranging from 3% all the way to 60%.

The token holders also receive a discount on OTC prices in proportion to their existing token holdings, up to 0.02%.

Crypto exchanges also give users the option to stake their exchange tokens on the platform in order to gain certain benefits which include, higher referral bonuses, maker fee rebates, bonus votes in community governance, waved blockchain fees for certain withdrawals, and additional airdrop rewards.

Another critical way to earn a living with crypto is by accepting it as a form of payment. Small business owners who offer goods, services or both can accept payments in the cryptocurrency of their choice.

After receiving such payments, business owners can either use it to purchase something or hold onto the crypto assets until it rises in value, thus earning a premium, particularly when the value of the crypto asset goes up. The entrepreneur could see a solid profit by selling for U.S. dollars later.

Like many financial instruments, business owners need to be cautious and not be over-exposed because cryptocurrency prices fluctuate very often, meaning you need to pay attention to its macros, and considerably spend time tracking crypto asset prices.

A significant number of blockchain enthusiasts also use their skills to earn crypto income without having to risks their money trading crypto assets. Skills such as blockchain programming, crypto-coding, community and business development, and mining are presently in high demand in the crypto economy.

With many crypto projects taking shape and a number of initial offerings on exchanges or decentralized platforms coming to play, this further gives people with such skills the opportunities to leverage the ever-changing financial asset class.

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