How to make money online A to Z guide - part 2 - Cryptocurrency

                           

                         Money is just pieces of papers and pieces of metals but everyone commonly believe they have a value so they got a value. Now a days digital money is more prominent than physical money. Most of our wealth is stored in bank as a digital number. We do not keep all our money in our hand and it has become just a number stored in banking computer system. Cryptocurrency is also something similar to that. But the specialty is, it is decentralized not centralized like banks and government.

                              Money in countries is centralized. Government and banking system can increase or decrease the money supply in the country. All the records of our wealth is stored in government and banking computer systems. This is centralized because a person who has access to these systems can manipulate those records. These two limitations are overcome in Cryptocurrency because it uses decentralized system. Records are recorded all over the network in many places so it can not be manipulated by a single person.(Block-chain technology) Also for Cryptocurrency there is a definite number of supply which can not be change later.

                     Like in share markets Cryptocurrencies also have their own markets and exchanges. The plus point is these markets are highly volatile not like traditional share markets. So like you trade in share markets you can trade on cryptocurrency exchanges and earn profit.

                  But the down side is because of this volatility there is high risk associated with these markets. As you can earn good profit there is also high risk you can make losses. So you should never invest money that you can not afford to lose in cryptocurrency.

                 To trade in Cryptocurrency first you need to buy some Cryptocurrency using your credit or debit card. I use CEX.IO because it supports my country and it is a well established reputed company from U.K Be cautious when choosing an exchange because there are many newly built sites that steal users money, credit card information and vanishes.


In this video it is nicely explain how to register and verify your  CEX.IO account.

How to trade in cex.io

              After you get them sorted out, you can trade Cryptocurrencies in cex.io platform. Cex.io is one of the few exchanges that support fiat currencies(USD, EUR etc) to trade with Cryptocurrency. But there available list of  currencies are few. So I recommend you to transfer some of your crypto assets to binance.com They have a big list of Cryptocurrencies and their trading fees are lower. They also have a good healthy volume.  When transferring crypto assets from one exchange to another like cex.io to binance or vice versa, transfer crypto like XRP or XLM because their transaction fees are much lower. Do not use ethereum or bitcoin. You will end up paying hefty transaction fee.

All of this information may seem overwhelming at first but with time you'll understand things and everything will feel like walk on park.

• Bitcoin the first Cryptocurrency was initiated in 2008. At that time it doesn't cost anything. Anyone can mine(helping the network) and accumulate coins. Later they started to have a value. It is about 50 cents. In 2017 January value of a bitcoin is about 19,000 USD!!! Just imagine. Now it has gone down to 4000 USD. This is the both beauty and risk of Cryptocurrency. If you can identify and accumulate next big coin you can become millionaire or maybe billionaire after 5 years time.   

What If I don't have any money to Invest?

                       Don't worry! You still can make money from cryptocurrency without investing a cent. This is also called making money out of thin air! When a new project started and issuing coins they also give free coins to people who promote their project.

                         To promote you only have to do very simple stuffs. Like sharing Facebook posts, twitting, joining their telegram group etc. In return for doing those stuffs they give you free coins. To receive those coins you have to have an ethereum wallet. 

How to make an ethereum wallet?

Where can I find airdrops?

                             After you created your wallet you can find airdrops from airdrop websites. I personally recommend airdropalert.com. They only show good quality air drops. So you don't have to waste your time completing poor quality airdrops that will probably not hit exchanges.
                         Also you can earn more tokens by participating in bounty programs. In bounty programs projects give you additional tasks to earn more coins. Like writing a blog post about their project, making a short video or translating their white paper(project proposal) By doing these bounty programs you earn a lot tokens than simply completing airdrops.  Later once the project is listed on exchanges you can sell those tokens and earn money.
                               In this article I didn't explain each and every minor detail because I do so,  then I would end up writing a book. You will learn of things while actively doing those stuffs. Don't worry they are not hard. You will catch up. If you need any assistant please leave a comment below. Thank you for reading.