When it comes to cryptocurrency, most people are talking about Bitcoin, but another currency, Ethereum cryptocurrency has also recently had a massive rise in value.
I wanted to write about some of the different options you have for making money with Ethereum. Sure, you may have missed the recent growth spurt, but that doesn’t mean there isn’t money to be made.
Ethereum cryptocurrency has touched its highest point at the time of writing following the reveals of several new projects being developed on the Ethereum platform. You might have heard some people have made some good money due to the recent hike. However, before investing your hard earned money in Ethereum, one has to learn what exactly is Ethereum and how it works. If you are keen to know how to make money with Ethereum, read on and find out more.
HERE ARE 4 WAYS HOW TO EARN MONEY BY ETHEREUM:-
1. Trading Ethereum CFDs
The good thing about CFDs is that you can speculate on the price both rising and falling. The price of Ethereum cryptocurrency is very volatile and moves about much more than many other commodities. Volatility means there are opportunities to profit using CFDs. If you believe the price of Ethereum cryptocurrency would go down you would sell or go short, and if you believed the opposite you would go long or buy.
More brokers are starting to offer trading of cryptocurrency CFDs and i’m sure it will be commonplace soon. eToro is a large broker that offers both Bitcoin and Ethereum CFDs.
3. Exchanging the Currency
On a cryptocurrency exchange, you’re able to buy and sell currencies trading them against each other. Because these currencies move around a lot, there is opportunity to make significant returns. There are many different strategies to use when trading cryptocurrencies against one another, but i’m no expert in this, so won’t offer any advice. Just watch out for dodgy exchanges – in the past exchanges have shut down, taking everyone’s currency with them.
You can buy Ethereum cryptocurrency and use it as exchanging the currencies and can earn a lot of money.
4. Ether mining
If you are a bit tech-savvy then you should probably consider starting mining Ether. Especially if you think that this digital asset will keep increasing in value for the next year or two. This is important because depending on what mining equipment you buy and how much electricity costs where you live, it can take up to 6 months to pay back your initial investment. For this to happen it is very important for the price of Ethereum to remain at its current price. Of course, if it increases then this timeframe will be even shorter!
The people over at 99 bitcoins have built an Ethereum cryptocurrency mining profitability calculator. I highly recommend you to check it out before you purchase your equipment. This way you will know before hand if this little “venture” is going to be worth your time. Additionally, you will be able to predict how much money you will be earning from your mining rigs every month.
It’s definitely a nice side income to have! Especially if the electricity costs are low where you live.
5. Investing in Ether
Ether is short name of Ethereum cryptocurrency. Although this option may seem obvious, I thought it is a good idea to include it in this post along with some interesting facts. In 2016 alone, Ether increased in value by nearly 1.200%, and it is showing no signs of slowing down.
The creation of the Enterprises Ethereum Alliance in February has added a lot of credibility to the project and resulted in the price skyrocketing to new record highs. At the time I am writing this post the Ether price is around 350$. Many members of the ETH trader community on Reddit, including me, expect Ethereum cryptocurrency to hit 800 USD by the end of 2017. So there are still some profits to be made there.
While in most cases it’s not a good idea to do long-term price predictions, I do think that Ethereum might hit a market capitalization of 1 Trillion USD in the next 10 – 15 years. The current market cap is of 30 Billion USD. That would mean that every 1.000 USD you invest in Ether today, would be worth 30.000 USD in a decade.