Everyone wants to make money.
It means freedom. Do whatever you want to do. When you want to do it.
It doesn’t save you from terminal diseases (mostly) and it won’t make your crush fall in love with you.
But it can keep a lot of struggles away from you.
For most average citizens, the majority of problems revolve around money. Rich people will tell you, that once you make money, you realize it wasn’t what you were searching. And this might be right. But how about we figure this out once we are there?
And on top of that, I think the best way to make money is while doing nothing. So you can already start focusing on what you really want while the money works for you.
Following are my top picks on how to make money the easiest in 2019. With cryptocurrencies only for this post.
Third place: Referrals
Hot topic because for some reason people in the cryptotweeter-sphere don’t like the shilling of referral links very much.
It’s somehow frowned upon, despite being a great and easy way to make passive income.
If they use your link to sign up there and start trading via this link, you’ll get a percentage of the fees they have to pay.
For the person referred, like you if you click above, there is absolutely no difference whatsoever. Nothing changes, except you do me a favor. I really don’t get the hatred towards these links.
You might already notice that there is an issue to this. You will need a lot of people to use those links. And they need to be new people. Shilling ref-links in a bear market like right now isn’t helping much. There just isn’t enough new meat to sign up on exchanges.
However, since we expect an influx of new people in 2019, I would recommend setting these links up and shilling them to your Twitter following, or e-mail list or whatever.
And ignore the haters. People will shittalk you, but there is a reason for that:
Second place: Trading bots
You don’t need to be an expert trader. And unless you really thoroughly enjoy looking at charts 24/7 and checking the market all day, I wouldn’t recommend becoming one.
That’s why I am not trading. I rather write a whole lot. I check the charts occasionally and I am a lot on Twitter for sentiment. But I never trade intraday movements. Ever.
Thankfully, for people like us, there is a solution. Trading bots.
There is a multitude of different versions, but the one I like the most is the bot trading on human signals. There are platforms like Cryptohopper, where you can set up your bot, and other people will send signals which trigger your bot to buy or to sell.
You can do a lot more like setting stop-losses, trailing stop-losses and whatnot. Or trading based on your own TA.
But generally, I would try to keep it simple. Just buy signals, sell at small profits, etc.
You will have to consider that most trading bots require you to pay a monthly fee to use their service. So you will need to cover these costs with your average winnings.
There is a big but attached to this income source. Depending on where you live, the taxes for trading with a bot might wreck you. For example, if you are a US citizen, a trading bot might not be your thing. The Fed asks you to tax every single trade you do. Even if the bot trades on your behalf.
Not only is this a nightmare to file the report (although there are websites that do this, but still), it might also lower your profits again. Which means you will need to invest more to make bigger profits to cover the taxes as well.
Other countries, especially in the EU have tax-free limits of something like 600 EUR. In which case you are fine. Please check your countries tax regulations first!
First place: Staking
Staking is my personal favorite and in my opinion, the easiest way to make money with crypto. Also, you can easily calculate how much money you will be making this way.
While there are different forms of staking, they don’t really matter from the money-making perspective. Technically, there are differences to set up the staking. But in most cases, it’s stupidly easy.
What you do is this:
- Buy coins which are eligible for staking
- Move them to your software wallet
It really is just this. Now, obviously, there are more variables to this. For example, if you buy a staking coin which is complete jackshit and dies. Welp, in this case, your investment was a grand mistake.
So the coin you choose for staking should be a proper one. A long-term proper one since you will be holding this coin for a while.
How to actually choose staking coins isn’t so easily explained in this short blog post. But I am here to help. You can either join the FREE e-mail course where I cover this shortly. Or you get the full-blown passive income greatness with the passive WINcome course.
Sixty pages (eBook within the course) going over 7+ passive income sources with crypto. How to set them up. If they are for you and what to expect from them. Get it now!
These are my passive income sources for 2019, all of which I am actually invested in. Currently, I am running a test to see if you can be profitable with a trading bot with just $100 invested.
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