How to make money off cryptocurrency?

[WhyAmIAroundHere?]

I have been reading about exchanging sites. all of them have people who lost their money due to hacks, or investors got their accounts closed, frozen (Coindesk) without proper explanations, usually exchange sites let them deposit money, but they don't let them withdraw their money.

Kraken(some review sites list this is as one of the best exchange site, what a joke) is also a shit hole, the same thing, money and coins missing, buggy laggy website, no customer support.

How do you make money of cryptocurrency when the exchange sites are predators to hunt people's money? Decentralized trade sites maybe? If I read positive reviews about these centralized exchange sites , they doesn't seem genuine at all, most of the time, it looks like someone ordered them from Fiverr. Binance, Bitfinex with the Tether fiasco, Coinmama.... All of them looks like scummy attempt to get your money.

[1714737657]

1714737657

[aussiesloth]

Paranoid much?

Look, seriously, if exchanges did nothing but steal people’s money, they’d lose popularity quicker than a politician in a sex scandal (we’ll, maybe that analogy doesn’t work since Trump). 

Sure there are occasional incidents, and in the past there have been a few serious scams/breaches (averaging 1 per year, maybe), but in the main, the popular sites are popular because they provide acceptable levels of service for the majority of their users.

You may also be mistaking issues with certain coins rather than the exchanges that we’re hosting them.

[odolvlobo]

It might be harder than you think. You assume that you can make money by trading. The reality is that most traders lose money, or at least they make less money than by just holding and not trading.

[ungongbuotan]

It might be harder than you think. You assume that you can make money by trading. The reality is that most traders lose money, or at least they make less money than by just holding and not trading.

Yes you are definitely correct. Some newbies thinks that trading is like a walk in a park which is not. Lot of traders lose lots of money, sometimes they lose more than they actually earn.

[Kakmakr]

Try using one of the regulated exchanges, because they have to report to the government and they have to adhere to strict KYC/AML regulations. I do not trust any centralized service with my bitcoins, but if you had to chose between a unregulated or a regulated exchange, then I would rather opt for the regulated exchanges.

You might feel a bit more safe, if you withdraw your coins to a hardware wallet after you have traded them. Just factor in the extra miners fees, if you are going to do this on a regular basis.

[BillCoin]

That's not right.
Most of the major exchanges(Bittrex,Poloniex,Binance,Bitstamp,bitfinex,coinbase) and much more, won't do any problem when you request withdrawals, some of them may ask you to verify your identity, but you can know about that in advance, and if you are not okay with revealing your identity then choose exchanges that won't ask you for that such HitBTC.
The chances of you to get scammed by an exchange that moves thousends of bitcoins on a daily basis is close to zero.

[Andrey Kozia]

Very broad question, a lot of ways! You need to understand which one is most suitable for you!  For example, you can trade, buy and keep mining, bounty, development...
You need to learn all about the cryptocurrency, and choose a more convenient way to earn money, by the way many people are doing everything you can earn money!!!

[cizatext]

I don't think trading is a good option now because of the difficulties in withdrawing your coins in time of emergency or even being hackers this have made is very difficult for traders in the cryptocurrencies market to trust most of the exchange site even with the KYC many still lose they money. The best we can do now is to buy and hold in a blockchains wallet.

[abhishek_bittu]

Since bitcoin’s recent highs, the cryptocurrency has once again awoken the interest of the media, regulators, and speculators. Both the reputation and the regulatory environment for bitcoin is turning for the positive around the globally and speculators are once again investing heavily in the world’s first decentralised digital currency. In this post, you will discover ten ways to make money with bitcoin to help you get started with becoming a part of the bitcoin community or, at the very least, earn a bit of extra money by leveraging everyone’s favourite cryptocurrency.

Buying and Holding Bitcoins

If you want to start earning bitcoin you first need to obtain a bitcoin wallet, which is used to send, receive and store your bitcoins. You can obtain one from an online based service such as Coinbase or Blockchain.info. These are two of the most used bitcoin wallet and come with an online and a mobile version. Having said that, the safest way to store your bitcoins would be offline. For that, you could use a so-called “cold wallet” such as Trezor.

Once you have a wallet service, you can establish multiple bitcoin addresses, which allow you to receive bitcoins from others. No real life addresses are necessary, just your bitcoin address will suffice for any digital currency transfers. All transaction can then be viewed on the blockchain at Bitcoin Block Explorer - Blockchain. This is why bitcoin is considered as a semi-anonymous digital currency as transactions are linked to bitcoin addresses but who is behind those addresses is unknown.

[sergeykravcov177]

You can earn money by advertising (Bounty) It's not bad if you work for a company and earn

[gayan7788]

i am new one in crypto world ,but I like invest cryptocurrency explain this how to invest

[BrewMaster]

use decentralized exchanges to trade.
but know that trading is not the only method of making money from cryptocurrecnies! if you pay attention to the name it is called cryptocurrency. it is money. well at least bitcoin is like money and you do a job and get paid in bitcoin. it can even be a business that you run on your own.
these: https://bitcointalk.org/index.php?board=84.0 are all businesses that are making money off crypotocurrencies, mostly bitcoin.

[Victorycoin]

It might be harder than you think. You assume that you can make money by trading. The reality is that most traders lose money, or at least they make less money than by just holding and not trading.

But then if one is looking at trading as his thing, he definitely has to pay his dues otherwise, he may never get it right - to eat omelet, you must break egg and if you are terrified to venture anything because of fear of loss or failure, then there's not any chance for success today or anytime in the future, this thing takes getting used to and dedication. At any rate, trading is not suitable for everyone - know yourself!

[Cryptalking]

bad things happening to some exchanges but stuff like that always happens. I mean in real life banks get robbed everyday and scammers always trying to get in your digital accounts but thats part of life. It does not mean most exchanges are scammers. Keep your coins in your desktop wallets or even a Nano S, seek the most reliable exchanges and when the price is right trade.   

[bitfocus]

You seriously need to think several times before you jump into crypto. You need to learn what is crypto first.

[countryfree]

Op is complaining about exchanges, but exchanges are innocent. I've used a dozen for the past 5 years without an issue.

The problem is that some people are trying to make money off cryptocurrency. Don't try to make money off cryptocurrency, and everything will be fine.

[odolvlobo]

Op is complaining about exchanges, but exchanges are innocent. I've used a dozen for the past 5 years without an issue.

You have been very lucky or very careful. Here is a partial list of sites that have been hacked or have lost (or stolen) customer money in the last 5 years:

Bithumb
Coincheck
NiceHash
BTC-e
Bitfinex
Gatecoin
ShapeShift
Cointrader
Bitstamp
Bter
Exco.in
Kipcoin
796
Cavirtex
Mintpal
Cryptsy
CryptoRush
Inputs.io
Mt.gox
PicoStocks

[ManaMan]

I have been reading about exchanging sites. all of them have people who lost their money due to hacks, or investors got their accounts closed, frozen (Coindesk) without proper explanations, usually exchange sites let them deposit money, but they don't let them withdraw their money.

Kraken(some review sites list this is as one of the best exchange site, what a joke) is also a shit hole, the same thing, money and coins missing, buggy laggy website, no customer support.

How do you make money of cryptocurrency when the exchange sites are predators to hunt people's money? Decentralized trade sites maybe? If I read positive reviews about these centralized exchange sites , they doesn't seem genuine at all, most of the time, it looks like someone ordered them from Fiverr. Binance, Bitfinex with the Tether fiasco, Coinmama.... All of them looks like scummy attempt to get your money.

First of trading is not an easy game to play you can profit but can also lose money. Exchanges get hacked you got to live in this reality and thus should trade portions on exchanges, at least this is what I do to minimize my risks. Many people simply go there and buy some altcoin and hold it than simply trading and trying to make a profit out of markets volatility, because it is easier and if you choose the right one you could look at profits like 5x and way more, this is why ICOs are somewhat popular nowadays.

But because many people hear the stories of people becoming millionaires they think it is easy, it was hard to buy back few years like 5+ and simply wait for bitcoin to hit higher and higher as most of the people sold or lost their coins since they haven't cared much about how will it will be worth in the future. It is not easy to flip money on exchanges but not impossible if you know how to look at price movements and notice pumps that are happening like everyday.

Other ways to earn would be betting, casinos (I mean exchanges and buying coins is somewhat a gamble and exchanges are casinos). Offer your skills for crypto etc.

[UsernameBitcoin]

It is not easy to make money of cryptocurrency.

Buying at a low price and selling at a higher price can make you good profits.

[ManaMan]

It is not easy to make money of cryptocurrency.

Buying at a low price and selling at a higher price can make you good profits.

This is easier said than done as you will always end up double questioning yourself if you've made the right move. Plus technical analysis can't help you much it can give you some good indicators but still. When there are pumps and dumps happening it's hard to know highs and lows of the price per day. I've been reading about some trading bots as well but I am not sure if they can even use volatility in that matter to gain mass profits.