A rising cryptocurrency market has created an environment where it is very easy to earn money passively, or without you having to actively work for it. With every new coin offering its users a way to start trading with them, and their portfolios built off of that starting stock, these beginner traders are earning passive income in the form of profits from their investments.
There are several ways to make money through this method, some more creative than others. By investing in all the right cryptocurrencies at the right time, your portfolio will keep growing and investors will notice!
The website KuCoin offers both experienced as well as novice traders a way to profit via what they call K-Trading. They have over 200 crypto coins listed under their platform, making it easy to invest in.
This article will talk about how to make extra cash by investing on Kucoin and other related sites like Coinwarz and Bter. We will also discuss some simple tips and tricks to increase your investment returns.
The second way to make passive income with KUCOIN is by investing in it directly through their exchange! They offer several ways to invest in KUCOIN via its website or app.
Their site offers information about how to buy KUCOIN tokens directly as well as how to purchase Bitcoin (or Ether) first and then convert them into KUCOIN.
There are also tools to create your own personal wallet which you can use to store your KUCOIN. And lastly, they have an educational section that covers everything from how to start investing, to what markets KUCOIN is available in, to basic economics.
As mentioned before, you can make good money by just buying and selling cryptocurrency directly. However, there is an easier way to do it!
There are several trustworthy crypto trading platforms that allow you to both deposit fiat currency (money deposited in the platform from another source) as well as cryptocurrencies, at very low fees for each transaction.
One of these sites is KuCoin.
It has its own token called KCS which works similarly to how coins such as Bitcoin work – users earn rewards points for investing in tokens in the form of either advertisements or direct giveaways.
By performing a few simple tasks, you will be awarded enough points to spend on advertising or get some KCS giveaway vouchers. You can then spent these rewards on advertisement spaces or new coin offerings through the site.
How to make passive income with Kucoin
The best part about Kucoin is that they update their website frequently to give tips on ways to make extra kucoins. Some of those strategies include writing a whitepaper or article, completing a bounty campaign, or simply creating and marketing a successful product or service.
As we mentioned before, cryptocurrencies are not currency of choice for most people. Most people choose to stick with Bitcoin as their cryptocurrency of choice. However, you can easily make money by investing in other coins as well.
There are many sites that offer crypto-trading services where you can invest in various cryptos. Some even allow you to start with as little as $100!
By investing in these different coins, your wallet balance will fluctuate depending on whether or not they go up or down in price.
This is how passive income works! You just need to be able to manage your investments well to earn big profits.
And there are plenty of resources available online to help you do this. So don’t feel like you need to be totally experienced in trading cryptocurrencies to get started.
As mentioned earlier, you will need to make sure that you have adequate resources for yourself to survive. This includes paying all of your monthly bills on time so that you do not suffer major consequences due to bill payments being late or non-payment.
It is very common to spend money on fun activities such as going out with friends or buying snacks while they are awake, but when sleep comes around it’s hard to remember everything!
Before bed, go through each area of your life (work, family, health) and see if there are any leftover items from before. Are you still spending money on energy drinks? Do you still use credit cards for everyday purchases? If yes, then this can be done in short stints until you have saved enough to stop it completely.
With every passing month, you will start saving more money which allows you to invest in additional ways to earn income.
With all of these strategies, one thing that can easily get in the way is debt. Credit cards make it easy to spend money, which may not be a good thing if you are trying to gain wealth.
If you have credit card debt, this should be a warning sign for how much we're depending upon external sources for our daily living expenses. It's understandable- while having a credit card with rewards makes it easier to buy things, you must remember that they also offer convenience fees for using the card.
It is important to evaluate whether or not this is a necessary expense given your income. If you know you will always have enough money for monthly bills, then you can eliminate this cost by paying either in cash or via various means of payment that do not require an account number.
Furthermore, consider talking to creditors about potential ways to lower your payments. Many times, people cannot manage their spending due to lack of income, so negotiating lower monthly installments is possible.
As mentioned before, you do not need to have lots of money to make good income with cryptocurrencies. While it is true that having a large amount of cryptocurrency can bring in more revenue, this is not needed to begin earning extra income.
The first step towards investing in cryptocurrencies is setting up an account at a crypto exchange. Most major exchanges offer some sort of referral program where they pay you for bringing new people into their platform.
By getting your friends, family, or colleagues to invest using their service, they will give you a small amount of cryptocurrency as a reward. This is typically referred to as airdrop rewards.
As mentioned before, you will need to know how to manage your money well to make it as a trader. This includes knowing where to invest your hard earned money and what types of investing are better than others.
For example, some people may not be able to afford buying Bitcoin so they decide to buy Ether instead. Both cryptocurrencies are equally valuable but one may be more affordable for them.
By choosing the right cryptocurrency for their situation, they can still reap all of the benefits from trading.
As of now, there is no way for you to make passive income with KUCOIN unless you are an investor or trader. This makes sense because KuCoin does not offer any types of investing or currency trading.
The reason why they do not is due to the regulations put in place by the U.S. Securities and Exchange Commission (SEC). The SEC has made it very difficult to run a crypto fund so most people just focus on doing cryptocurrency exchanges instead.
That being said, all traders have to pay high fees to buy and sell cryptocurrencies which cuts into their profits. And as we know, people are very expensive!
Another option that some people have tried is buying and selling individual coins but this can be tricky since not everyone lists their coin prices clearly and even less list them at cheap price points.
There are ways around this such as using third-party sites to determine the market value but again, these may not be totally accurate.