Making money in CryptoCurrencies

So you want to make money in cryptocurrencies? A lot of people want some coins but a majority are not willing to work for them.

Photo by Moses Vega on Unsplash

Work might mean learning about blockchain technology. Work also might mean doing your own research on the altcoin projects and reading their white papers. Finding a project you're passionate about and you feel is undervalued. And finally work might mean learning how to trade in cryptocurrencies, reading charts, learning about candlesticks. Understand what "a falling knife" is, and why you shouldn't buy when a cryptocurrency is going up "Don't buy into the hype".

Bitcoin and cryptocurrencies to me is kind of like when the internet started up in the early 90s, there was a lot of learning involved, like modems and installing netscape on Windows 95, URLs etc. There is a lot to learn in cryptocurrencies, it is like
we are in the early days of the internet, so be on the lookout for the amazon, facebook and google of cryptocurrencies, be an early investor.

Photo by Ben Rosett on Unsplash

One way to make some money is mining. I like the below comment on this bitcointalk.org post asking how long it will take to earn 1 bitcoin here

There is no magic here. You give something of value (product, time, service, etc) and in exchange you get something of value (bitcoins). That's the way the world works."

So what product, time or service do you bring? I like mining because it's kind of like a service you provide. Another way to make money is to value invest in cryptocurrencies by buying undervalue coins. Do you have time to research or time to hold on to a long term position.

Personally I only know only a surface level in these cryptocurrencies. I've been really interested in watching youtube channels of people talking about bitcoin, trading, been a fan of DataDash and video on building mining rigs. I'm a computer geek by heart so I feel like I should crack open some open source projects and learn a little deeper.

At some point this year I want to build a mining rig, it's been 8+ years since I've built a computer but I'm looking forward to saving up some money and building something hopefully there will be some affordable GPUs by then.

Good luck making coins.