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Arnaud
Oct 4, 2022 1:00 PM

Even if you have a secure nine-to-five work, it would be good to develop extra streams of passive income given the high level of uncertainty currently present around the world.

Today, we examine additional cryptocurrency-based wealth-building strategies outside of purchasing and holding tokens.

Automated Trading

Trading gives you the opportunity to profit from the cryptocurrency market in both bull and bear markets, as opposed to hoarding or retaining it, which is a one-way traffic. In other words, the trends in the industry won't hold you back. However, it is also true that when it comes to earning money, trading is one of the most difficult talents to learn. It takes time and work, but it is not impossible!

Trading may genuinely bring about a high degree of fulfillment and success that money cannot purchase for those who are prepared to put in the necessary resources to trade their way to success!

There are primarily two methods for trading: manual trading and automatic trading. By engaging in manual trading, you are assuming control over the process and choosing when and how to trade. Given all the moving aspects, including time commitment and emotional control, manual trading has the drawback that it is much more difficult to master and requires a longer period of time to become proficient in.

When trading automatically, you will rely on trading bots that have been built with trading algorithms to make buy/sell decisions based on a pre-programmed set of criteria. In other words, you can buy and sell using these trading bots even while you're asleep!

Manual Trading

Regardless of whether there is a bullish or bearish trend in the cryptocurrency market, trading allows you to increase your profits, as we said earlier. Consider how monotonous the current situation of the cryptocurrency market is, with BTC having been stuck around the $20K mark for some time. However, there are pockets of opportunity between these times for savvy investors and traders, and volatility is a good thing since there is money to be made wherever there is volatility.

Staking

The next option is to stake your cryptocurrency. You might be wondering how it functions. Simply block funds (USDT, BTC, ETH, or other) for a predetermined period of time and collect the interest is all there is to it, to put it succinctly. Examples of the aforementioned are ETH 2.0 and ADA.

As an illustration, consider Ethereum Staking. By locking a certain quantity of ETH for a predetermined amount of time, you will help to secure the Ethereum blockchain and receive network incentives.

Lending

Staking can be substituted with lending, which is one additional option. This strategy is far riskier than staking since, although staking carries risk as well, you can do it on significant exchange platforms like Binance. The danger is not zero, but it is not very likely that you won't find your money. Staking also contributes to the security of a network.

Since smaller DeFi platforms are more likely to be the target of a breach than larger ones, the lending strategy is riskier and can be used on those platforms. Additionally, when you employ loan, the collateral is sometimes a newly produced cryptocurrency, whose value may decline.

Invest in crypto assets – NFTs

NFTs are rumored to be a decent hedge during bear markets, however we're not sure if that can be said. The reason is that all NFTs are very speculative, and their volatility sometimes exceeds that of hodling or even trading.

But don't give up; if you're ready to do extensive study and put in the necessary time and energy, you can unearth treasures that will increase in value over time. In this situation, make sure you have the self-control and perseverance to stick with it.

Conclusion

These are some of the tried-and-true methods for making your cryptocurrency money work harder for you. You must conduct further independent research before making a choice based on your objectives and risk vs. reward profile.

Come see Superbots in action! In addition to using the DeFi algorithmic trading bot on DEXs with full automation, you can stake the UBXT token to earn attractive incentives and receive rebates on the trading bots' performance fees. Additionally, Superbots will introduce its own NFTs in the near future that integrate gaming and the metaverse!

Passive income generation and money-making don't have to be tedious processes. When you embark on the Superbots adventure, it's very enjoyable!

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