A student in the community asked, in the currency circle, besides speculating on coins, what are the other ways to make money?

Today I will share with you the ways I have participated in making money in the currency circle. We have sorted out about nine types. Let’s see which one is more suitable for you?

The first type is currency speculation.

Coin speculation is divided into spot speculation and contract speculation. I think it is more appropriate to call currency speculation trading. The essence of trading is an act of gaming between you and the market. So how to play the game better requires mastering certain technical methods. Yes, otherwise, if you don’t know anything, then you are just giving fuel to others in this market. For newcomers, if you want to learn trading, it is recommended to start with spot trading instead of doing contracts directly from the beginning.

The second type is to hoard valuable coins

When it comes to hoarding coins, many people think that it is a job with no technical content at all, but this is not the case. We have heard many stories from old people in the currency circle. Many people got involved in this circle 5-6 years ago, but there are very few who are still in this circle and can keep their coins.

There are several such cases around me, so it is not as simple as we think. There is a community in China with tens of thousands of members. The founder of the community is an early buyer of Bitcoin and a loyal believer. He wants to allow members to hold Bitcoin and to allow members to correctly understand investment and Bitcoin. Regarding this matter, I will regularly provide psychological development for everyone in the community.

Of course, the core of hoarding coins is actually the selection of the target. If you don’t choose the right target, your hoarding will be in vain. The most classic case here is actually EOS in 2018. In my circle, many people actually exchanged BTC for a large amount of EOS in 2018. Some people were indeed very good at it, and they kept it until the second half of 2020. Later, I found that the situation was not right, so I gradually exchanged EOS for the big pie, but at this time I found that the assets had shrunk a lot.

Therefore, before hoarding coins, you must choose an asset that can stand the test of time. So far, perhaps only Bitcoin has passed the market test for more than 10 years, followed by other mainstream value currencies such as Ethereum.

The third type, exchange arbitrage (IEO)

The exchange arbitrage mentioned here is actually a kind of innovation, that is, when the exchange lists certain new coins, it and the project team do a pledge reward activity. For the project owner, this kind of activity promotes his project, and for the exchange, it gets more traffic and empowers its platform currency.

Generally, to participate in this kind of innovation, you need to pledge its platform tokens to obtain new currency rewards.

And why is it called exchange arbitrage? Because generally we cannot directly buy the platform currency of the exchange in order to create a new currency, especially in the later stages of the bull market. If we buy it directly, the risk is relatively high.

Then at this time, we can use some lending platforms to pledge our existing currencies and borrow this platform currency (such as pledging BTC, ETH, USDT, etc. to borrow BNB and FTT), so as to obtain the qualification to play new coins. After the event is over, return the platform currency, and your profit will be the income from the new currency minus the interest income from your loan.

Currently, the exchanges with a relatively high frequency of new releases are Binance, Huo’bi, Gate, and FTX. However, since the second half of last year, Binance and Huobi have often required you to have an overseas account to participate in many activities, so this requirement has shut out many mainland users.

As for this kind of new investment with nationality restrictions, the rate of return is generally good. Generally, you can get a return of 2%-10% by staking for 5-15 days. It mainly depends on the market conditions at that time and the fundamentals of the currency. So are there times when you lose money? There are, but less. Therefore, this kind of new investment is relatively low-risk arbitrage behavior.

The fourth type, airdrop

Regarding Lu airdrops, I have shared them in several previous articles and in the voices of the Himalayan program. In the past 2021 and 2020, the profits from Lu airdrops have been quite generous, but as the number of people participating has increased, this field has begun to become more and more popular. Involved. Therefore, if you still want to participate in airdrops at the moment, everyone should try to participate with the perspective of product experience. For details, please refer to the previous article.

The fifth type, DeFi mining

Regarding DeFi mining, students who have been listening to the program should be familiar with it. In July 2021, we had more than 10 consecutive video programs, specifically recorded about DeFi operations.

So what is DeFi mining, that is, a coin that does not generate any income for you, because you provide liquidity for the platform, and the platform gives you a reward. Generally, this reward is the platform token of the platform.

Regarding DeFi mining, if the platform chosen is reliable, you will generally have relatively good and stable returns. There are many platforms where the income from stablecoins can reach an annualized rate of around 10%-15% (floating). However, it is still recommended that you choose some head platforms, which are relatively reliable. If the amount is relatively large, it is recommended to directly choose the DeFi platform on the Ethereum chain.

The sixth type, physical mining machine mining

The living space of physical mining machine mining in mainland China is getting narrower and narrower, because this is not allowed in the country. Therefore, it is generally recommended to find reliable domestic mining companies that host machines overseas, preferably established ones. of.

Of course, the timing of purchasing a mining machine is also very important for mining. When many people first enter this market, they are often easily deceived or fomoed by the words of marketing staff of some mining companies, and it is easy to buy at a high price. If you buy at a high price, the time to pay back your investment will be relatively long.

At the same time, there are many other factors to consider regarding mining. I recommend everyone to follow Shenyu’s Twitter **@bitfish1**. In December, there was a tweet specifically talking about mining machines.

The seventh type, GameFi gold mining

GameFi is a very popular track in the second half of 2021. There are currently many chain games on this track. But overall, it is still in a period of chaos, and its model is more similar to a fund-raising method. Therefore, for novices, it is not recommended that you invest large sums of money in this field.

The eighth type is to participate in the primary market

Earlier we talked about the arbitrage activities of exchanges, which is a kind of innovation. In addition to the exchange's arbitrage and innovation, there are also some third-party platforms that also provide innovation. For example, Coinlist, Public DAOmaker, etc., there are more and more such platforms now. However, with the tightening of domestic policies, many such platforms now prohibit mainland China from participating. Therefore, if you want to participate, you still need to have an overseas identity.

Type 9: Donations to early-stage projects

In the blockchain world, there is a platform called the Arsenal of Ethereum. This platform is Gitcoin. It is called the Arsenal because there are many early projects on the Ethereum chain. If the project parties want to raise funds, they can use Gitcoin. published on.

Generally speaking, if you have donated money when this project was financing in the early stages, then if this project issues coins in the future, then there is a high probability that those who have donated will receive airdrops from the project.

The above are the nine ways to make money in the currency circle that I have experienced and participated in in the past. Of course, all the ways here have different levels of risk, some are high risk and some are low risk. Then each of us needs to choose a suitable way to make money in this circle based on our own personal circumstances.

Of course, besides these, there must be others. If you have other ways to make money, please share them in the comment area.

Disclaimer: None of the content in this article constitutes any investment advice. Cryptocurrency is a high-risk investment type and may return to zero at any time, so participate with caution. #荣耀时刻 #崛起