Making Money

[Ownee]

How exactly does the money making process work?  You buy some cryptocurrency for a certain price then sell it for a higher price and the difference is the money you've made?  This would mean that the money you've made is still in terms of cryptocurrency.  Then can that money be converted into the whatever kind of cash your country uses?  How does it work?

[1713926487]

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[1713926487]

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[nydiacaskey01]

How exactly does the money making process work?  You buy some cryptocurrency for a certain price then sell it for a higher price and the difference is the money you've made?  This would mean that the money you've made is still in terms of cryptocurrency.  Then can that money be converted into the whatever kind of cash your country uses?  How does it work?

Depends on the Country if there is a local exchange for BTC to their local currency but if there's none, there are other ways to cash out you BTC since USD is acceptable world wide. There are exchange sites out there that accepts BTC to be converted to USD, then USD to Western Union, Money Gram or Paypal.

[APICEMTECH]

You have got the idea right. The process really depends if you are in for the long haul or just want to make the most of the hype situation that is going on in crypto right now. For me I am trying to accumulate as many bitcoins as I can till it really hits mainstream, for me that is 1 btc = 100,000 USD atleast. This is when I will take the money out and maybe invest in metals.

[semobo]

How exactly does the money making process work?  You buy some cryptocurrency for a certain price then sell it for a higher price and the difference is the money you've made?  This would mean that the money you've made is still in terms of cryptocurrency.  Then can that money be converted into the whatever kind of cash your country uses?  How does it work?

You can only earn money in the form of USD because the price of cryotocurrency is not stable and change too often so when you buy low and sell high which means yiu made money from cryotocurrency.But you can't grow your cryptos it will be as it is that how much you bought it.

[Asiong]

How exactly does the money making process work?  You buy some cryptocurrency for a certain price then sell it for a higher price and the difference is the money you've made?  This would mean that the money you've made is still in terms of cryptocurrency.  Then can that money be converted into the whatever kind of cash your country uses?  How does it work?

Trading or investing in cryptocurrencies doesnt work just like that,you need to do a lot of research first so you can choose which coins would give you a lot of gains in the future,you need to eliminate most of the shitty coins in the market,theres a lot to be consider like the coin's working product/services does it has any use to the real world? development team should be good so they can achieve their plans whether it is short or long term plans,this is not a buy and sell investment you need to familiarize how the market works,and how these fundamental and technical analysis can be a big factor to coin's price improvements,do not focus in making money instead how to learn things most of the basics things you need to know.

Converting your cryptocurrency assets to a fiat currency would be more easier when you convert your altcoins to bitcoin or ethereum first.

[Prodigan786]

Buy bitcoin ethereum or any major currency  from local exchange of your country send it exchange trade it using that crypto currency let’s say bitcoin and sell it for bitcoin profit that’s how money making process works.

[SrEasts]

Basically you can just buy the two big coins aka bitcoin and ethereum and just hold them for a long time hoping for big price increases during 2018 like many people do, you can also do the same with alt coins, even though it is more riskier but can be more profitable since some of them 3x-10x in small amounts of time. If you're not interested in holding you can simply day trade bitcoin for alt coins and the other way around. The principle is buying low selling high like you said, but in order to do that successfully you need to learn technical analysis, watch youtube videos/research about it, it's hard to be successful at it though.

Usually people use coinbase to obtain bitcoin with fiat, most likely by bank transfers. So when you wanna sell your crypto you do the same process as you did when you bough just the reverse of it.

[berrygood]

It depends on how you calculate your profit? in btc or usd. I personally calculate my profit in usd, now in btc most people trading altcoins have no profit.

[Auralea]

If I were you or anyone else in the cryptosphere right now I would not be focussed on making money through investing. I think it is way more appealing to figure out a use case of cryptocurrencies that is close to you and expand on that instead of just investing. If you can make a website, go do webdesign or make your own webshop that accepts crypto. If you see a perfect use case for blockchain or crypto in your home country, go for that! I don't want people to get disillusioned by blockchain and crypto just because most people lose money on investing in it. Try to think of another way to incorporate crypto into your life. Even telling people about it in a small country not really up to speed yet should be able to make you some money. I hope anyone finds something of value in these remarks.

Greets,

Auralea

[Sexton]

How exactly does the money making process work?  You buy some cryptocurrency for a certain price then sell it for a higher price and the difference is the money you've made?  This would mean that the money you've made is still in terms of cryptocurrency.  Then can that money be converted into the whatever kind of cash your country uses?  How does it work?

Cryptocurrency trading doesnt work like that you need to be familiar with the coin you are investing to,because there are thousands of shitcoins out there and you might pick those and thats your end,you will lose a lot of money.Cashing out would be easier when you converted your alts into major coins like bitcoin and ethereum,you can convert these two into usd,then convert your usd to your local currency.

[Nariza]

Yes. Some are buying crypto currency in a low price and sell it into higher price to gain profit. It depends on your country because there are some markets exchanges allowed to trade your coins and cash out your money.

[prince05]

How exactly does the money making process work?  You buy some cryptocurrency for a certain price then sell it for a higher price and the difference is the money you've made?  This would mean that the money you've made is still in terms of cryptocurrency.  Then can that money be converted into the whatever kind of cash your country uses?  How does it work?

If you are trading altcoins, it should be traded to bitcoins first before it is converted to fiat currency. Depending on which country you are in there should be like online wallets wherein they buy your bitcoin and exchange you directly with fiat currency depending on what is their current buying rate. Also check if they accept other alts such as ETH directly to fiat currency and that is the time you can take out your profit as cash.

[LeroyBro]

Speaking of money, how/when do you guys decide to cash out? If ever? Is it worth it usually or are the fees super high?

[kristii]

How exactly does the money making process work?  You buy some cryptocurrency for a certain price then sell it for a higher price and the difference is the money you've made?  This would mean that the money you've made is still in terms of cryptocurrency.  Then can that money be converted into the whatever kind of cash your country uses?  How does it work?

Cashing profits is one of the most difficult and intricate issues that depends heavily
 on the laws of your country, as well as on the way in which you want to withdraw funds.

[kennyy2929]

How exactly does the money making process work?  You buy some cryptocurrency for a certain price then sell it for a higher price and the difference is the money you've made?  This would mean that the money you've made is still in terms of cryptocurrency.  Then can that money be converted into the whatever kind of cash your country uses?  How does it work?

what you are describing is trading, some people do trading to accumulate more and more bitcoin, and then when bitcoin hit for example 1BTC = 20k usd, then they withdraw it to USD, so that's how you make money.

but trading will be risky and you might lost you coin, so be aware if you wanna do trading.

another way is you buy in some coins let's say 1BTC at 10k usd, and you do not trade it and just hold for 3 years, bitcoin rises to 1btc to 30k usd, so in two years you have earned 20k and you withdraw when you want it. BUT there is no guarantee that you earn in two years, if let's say you but an alt coin, it can crash and dissapear.

BITCONNECT is very good example for crashed. it once go up to 4xxusd, but bitconnect shut down and it's now lower than 10usd and so many people losing their money.

so u need to do a good research about the coin you wanna hold.

[sotoshihero]

How exactly does the money making process work?  You buy some cryptocurrency for a certain price then sell it for a higher price and the difference is the money you've made?  This would mean that the money you've made is still in terms of cryptocurrency.  Then can that money be converted into the whatever kind of cash your country uses?  How does it work?

Trading or investing in cryptocurrencies doesnt work just like that,you need to do a lot of research first so you can choose which coins would give you a lot of gains in the future,you need to eliminate most of the shitty coins in the market,theres a lot to be consider like the coin's working product/services does it has any use to the real world? development team should be good so they can achieve their plans whether it is short or long term plans,this is not a buy and sell investment you need to familiarize how the market works,and how these fundamental and technical analysis can be a big factor to coin's price improvements,do not focus in making money instead how to learn things most of the basics things you need to know.

Converting your cryptocurrency assets to a fiat currency would be more easier when you convert your altcoins to bitcoin or ethereum first.

Nice info...Actually I am.also looking for ICO's to possibly invest and trade.Trading is one way to gain or earn in cryptocurrency.Another one is through joining campaigns. When you convert your crypto to btc,its easy now to be converted to fiat in your local exchanges.So far most are using localbitcoins afaik. You may opted also for  local meetups but be careful it is very risky.

[Boybugwal760820]

Well my version of making money here is quite different from others because in order for me to buy altcoins or any crypto currency is at first I have to join a lot of crypto currency paying activities and also a lot of AIRDROPS so that if I am payed by them in the form of cryptocurrency or tokens, I will convert those tokens or crypto currency into a real money and then invest them again into those low value crypto currency and wait for the time until those crypto currency that you had invested will increase its market values again.

[Matrond]

Yes once the value of the cryptocurrency which you are holding goes up, you have the potential to make money. The only way you can secure that added value is by converting it back into Fiat via an exchange.

[RodneyKings]

How exactly does the money making process work?  You buy some cryptocurrency for a certain price then sell it for a higher price and the difference is the money you've made?  This would mean that the money you've made is still in terms of cryptocurrency.  Then can that money be converted into the whatever kind of cash your country uses?  How does it work?

Buy low, sell high. It means whenever there is a dip on the prices of your target coin, you buy it (wallet or exchanger) and wait for it to rise again to have your profit. You can withdraw a portion of your profit and convert it on fiat via some btc to local currency exchangers. Since everything depends on the country, I think it is for you to find out how to convert crypto currency to local money.

[felipe04]

Actually i think of it like that OP if some users earn money in crypto and some also got lose here too but i really don't understand so i continue to believe we always earn here and have benefits to every users of it because if you lose here of course you will leave in crypto,I think also the best example of this are china and korea because they leave crypto because it's not good for their economy