How to make money in crypto

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6 Jan 2024

I have been interested in crypto since 2021. My authority is not to bring any money in. I lost many opportunities because of this mistake. Today, when they ask me, I do not give clear answers to anyone.

Anyway, let's get to the point: How can we make money in crypto?
No one can answer this definitively. If they say there is profit, don't believe it. I will tell you the story here. Crypto markets are very active and very inactive. This means that we divide it into two, we call it 1 bull and 1 bear season. So what is bull ? The term we call bull means that the market is very good and is constantly rising. What we call bear is a period in which the transaction volume has decreased and everyone's money stays inside, and that is why most people commit suicide. Anyway, let's get back to our topic, how can we make money in this market?

Airdrop farming
nft trading
Buy and Sell
Trading

Now I will explain these to you in detail.
Let's get started, don't forget to take a cup of smuggled tea with you. :)

Airdrop farming generally refers to the distribution of cryptocurrencies and is used to receive tokens of various projects for free. However, it is important to be careful with this type of activity because the risk of fraud is high. Here's some general information on how to do a general airdrop farming process: Get Accurate Information: The first step should be to get accurate and up-to-date information from reliable sources. You can follow airdrop information through the projects' official social media accounts, websites or forums. Create Wallet: You will need a crypto wallet to receive airdrops. Ethereum-based airdrops may often require an ERC-20 compatible wallet (e.g. metamask). Other projects may require a specific type of wallet. Follow Social Media Accounts: Airdrop announcements are usually made through the official social media accounts of the projects. You can get updated information by following these accounts. KYC (Know Your Customer) Procedures: Some airdrop projects may require KYC for identity verification purposes. In this case, you may need to provide the documents specified by the project. Check Airdrop Conditions: Each airdrop may have different conditions. For example, you may be asked to post on social media or be active in a particular forum to promote a particular project. Carefully review the terms of the airdrop and be sure to meet the requirements. Requesting Airdrop: Once you meet the airdrop conditions, you may need to fill out a form or request your tokens to a specific address, usually specified by the project. Reliability Check: When looking into airdrops, be wary of the risk of fraud. It is important to get information using the official communication channels of reliable projects. Remember that the cryptocurrency market and airdrop projects can constantly change, so it is important to stay up to date. Also, remember that there are risks in activities like cryptocurrency investing and airdrops; Therefore, it is important to proceed carefully.

Not: In short, newly released networks are divided into Layer 1 and Layer 2, and Layer 1 can be tested free of charge. Layer 2 is fully paid. and expensive

2. nft trading
NFT (Non-Fungible Token) trading is a field where digital assets (e.g. digital art, collectibles, gaming items) are represented by a unique token on the blockchain. Here are some steps you should consider when trading NFTs:

Research the NFT Market: The first step is to understand and research the NFT market. Consider which platforms can trade NFTs, what types of digital assets are popular, and other trading trends.

Create a Convenient Wallet: A crypto wallet is often needed for NFT trading. For Ethereum-based NFTs, wallets such as MetaMask or MyEtherWallet are often used. Research and create suitable wallets for other blockchains and platforms.

Choose an NFT Market Platform: There are many platforms available for NFT trading. Prominent platforms include OpenSea, Rarible, Mintable and NBA Top Shot. Choose a suitable platform by determining which platform the digital assets you are interested in are popular.

Add Ethereum or Other Cryptocurrencies to Your Wallet: NFT trading is generally Ethereum-based. So, add Ethereum or other available cryptocurrencies to your wallet and make it ready to trade.

Buy or Sell NFT: On the platform of your choice, you can buy an NFT you like or list your own NFTs for sale. The purchase process varies depending on the platform, but is usually made through your wallet.

Manage Your Portfolio: Monitor your NFT portfolio regularly. Track NFTs you've bought or sold to keep track of their values and market trends.

Be Careful and Research: NFT trading is an area at risk of fraud. Research the seller or platform carefully before making a transaction. Choose reliable and popular platforms.

Since NFT trading is a rapidly growing area in the cryptocurrency and digital asset markets, it is important to stay up to date. Therefore, constantly monitoring market trends and reliable platforms is important for a successful NFT trading experience.

3.Buy and Sell

Choose a Cryptocurrency Exchange:
The first step is to select a cryptocurrency exchange. Some prominent exchanges include Binance, Coinbase, Kraken, and Bitfinex. Choosing a reliable exchange is crucial.
Create an Account and Complete Verification Processes:
Create an account on the chosen exchange. The registration process usually involves email verification and identity verification. In some exchanges, you may not be able to trade without completing the identity verification process.
Create a Wallet:
To securely store your cryptocurrencies, you should use a cryptocurrency wallet. Even when trading on exchanges, transferring your cryptocurrencies to a wallet is a more secure approach.
Transfer Your Cryptocurrencies to the Exchange:
After creating your account and setting up your wallet, transfer the cryptocurrencies you want to trade to the exchange.
Conduct Market Analysis:
Before engaging in cryptocurrency trading, it's essential to conduct market analysis. By monitoring price charts and market news, you can gain insights into future price movements.
Place Buy or Sell Orders:
You can place buy or sell orders on the exchange interface. Use a "market order" for an instant transaction or a "limit order" to wait for a specific price level.
Monitor Order Executions and Transaction History:
Keep track of the orders you place and the transactions that occur in your exchange account. This is crucial for managing your portfolio and evaluating your trades.
Take Security Measures:
Prioritize security. Use features like two-factor authentication (2FA) to protect your account.
Define Your Trading Strategy:
When engaging in cryptocurrency trading, it's important to have a strategy. Understand fundamental trading strategies, such as risk management, setting take-profit and stop-loss levels.
Stay Informed and Keep Learning:
The cryptocurrency world evolves rapidly. Stay informed, and continue learning about new projects and technological developments.

Remember that cryptocurrency trading involves risks, and you should conduct your own research before making investments. Also, avoid risking more money than you can afford to lose.

4 .Trading

Selecting a Broker or Exchange: Choosing a brokerage or exchange is crucial for trading. These entities provide access to different types of assets and trading platforms.

Account Opening and Verification: Open an account with the selected brokerage or exchange, a process that typically involves email verification and identity verification.

Budget Determination: It is important to set a budget for trading. Allocating a specific budget for trading rather than risking money you cannot afford to lose is crucial.

Asset Selection: Determine which assets you want to trade. You can choose from various asset classes such as stocks, cryptocurrencies, forex pairs, or commodities.

Strategy Development: Define your trading strategy, which may involve technical analysis, fundamental analysis, or a combination of both. It is essential to establish risk management, take-profit, and stop-loss levels.

Placing Trade Orders: Execute your trades by placing buy or sell orders. You can use a "market order" for instant buying or selling at the current market price, or a "limit order" to wait for a specific price level.

Market Monitoring: Regularly monitor the market movements of the asset(s) you are trading. Analyze price charts to try and predict future trends.

Staying Informed and Continuous Learning: Financial markets are continually changing. Stay informed and continue learning about new trading strategies, market developments, and financial news.

Security Measures: Utilize security features on trading platforms to protect your account. Enabling security measures such as two-factor authentication (2FA) is crucial.

Not: Keep in mind that trading involves a high level of risk. Conduct your research, assess your risk tolerance, and approach trading with caution. Regularly review your trading strategy and transactions to adapt to market changes.

NOTE: Important Disclaimer: The information provided above is not intended as investment advice but for general informational and educational purposes. Before making any financial decisions, you should conduct your research, assess your risk tolerance, and, when necessary, seek advice from a financial advisor.
Trading and investing in financial markets involve a high level of risk, and there is a possibility of losing a portion or all of your capital. Past performance may not be indicative of future results. Cryptocurrencies, stocks, forex pairs, and other financial instruments are sensitive to market fluctuations, and their values can change rapidly.
Please exercise caution when making financial decisions, establish a strategy that aligns with your risk tolerance, and stay informed about market conditions. Additionally, be flexible in response to changes in the markets and continuously stay updated on relevant information.