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Can You Earn Crypto by Mining/Staking If You Are Not a Programmer?by@nonamec3po
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Can You Earn Crypto by Mining/Staking If You Are Not a Programmer?

by No_name_c3poApril 17th, 2021
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Can You Earn Crypto by Mining/Staking If You Are Not a Programmer? Read this article by No_name_c3po and write in Twitter. There are over 7,000 cryptocurrencies on the market today. Staking is the process of investing in cryptocurrencies and making a profit in the form of interest. The easiest way to make money on cryptocurrency is to trade it on well-known cryptocurrency exchanges. The best cryptocurrencies for long-term investments are Bitcoin, ETH, BNB, Free TON.

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More than a decade has passed since Satoshi Nakamoto created Bitcoin, the first and by far the most popular cryptocurrency in the world. Despite its fame, Bitcoin is not the only cryptocurrency of its kind – new cryptocurrencies are constantly emerging, such as altcoins and stablecoins, which outperform BTC. There are over 7,000 cryptocurrencies on the market today.

In order to make money on cryptocurrency, you do not need to be a professional specialist. Of course, programmers consistently make huge amounts of money on cryptocurrencies, just like other specialists. However, anyone can start investing and making a profit. In the long term, you can make money on any well-known cryptocurrency, which has been proven in practice.

Staking

Staking is the process of investing in cryptocurrencies and making a profit in the form of interest. In addition to interest, profits increase in proportion to the increase in the price of the cryptocurrency. There are a large number of cryptocurrencies that allow you to get good income through staking. Among the best cryptocurrencies for staking are WISE, PIVX, Tezos, DASH, NAV. For example, WISE is an ERC-20 token that allows you to receive good income from interest. With WISE, you can earn up to 5% per annum through staking in addition to regular bonus offers. What’s more, WISE staking is a safe way to make money, with low risk and high flexibility, as you can withdraw interest or stop staking at any time.

Long term investment

Long-term investment is a process in which a person acquires several powerful cryptocurrencies with good potential, and then holds them for a certain time, expecting a significant increase in prices. Once the price of the coin is high enough, the investor sells it. Long-term investments do not provide for earning interest. The best cryptocurrencies for long-term investments are Bitcoin, ETH, BNB, Free TON. For example, those people who bought the BTC cryptocurrency in early 2020 and held it until February 2021 increased their investments at least 2 times. The situation is the same with those who bought the ETH cryptocurrency in March 2020 and held it until February 2021 – the invested capital was increased at least by 4 times.

Trading on cryptocurrency exchanges

Cryptocurrency trading is similar to stock trading where a person buys and sells tokens / coins for profit. Trading on exchanges is mainly a short-term investment in cryptocurrency. It is enough to buy a cryptocurrency and wait until its price rises, and then sell it. Unlike staking and long-term investments, cryptocurrency trading is a daily activity. If staking and long-term investments are passive income, then cryptocurrency trading is active. The most popular coins on cryptocurrency exchanges are those that just appeared on them.

How profitable can cryptocurrencies be?

Bitcoin is the cryptocurrency that has allowed a huge number of investors and traders to earn millions of dollars. Few expected in 2013 that an investment in bitcoin would pay off at least 10 times.

The easiest way to make money on cryptocurrency is to trade it on well-known cryptocurrency exchanges. Those people who bought bitcoins in 2013, when the price for 1 coin was up to $ 100, today are real millionaires, because in February 2021 the price for 1 BTC fluctuates in the range of $ 40,000- $ 48,000 – the price of bitcoin has increased by more than 71 in 7 years 826.8%.

Earning in the short term is indeed very risky due to the high fluctuations in the price of BTC. However, in the long run, your investment will definitely generate income. There are other cryptocurrencies that can bring good profits in the short term.

For instance:

  1. Cryptocurrency 1inch (1INCH) has risen in price by 614.9% in 2 months.
  2. DeFi-token Alpha Finance (ALPHA) has risen in price by 6434.6% in 3 months.
  3. DeFi token 88mph (MPH) has risen in price by 730.7% in 3 months.
  4. The yearn.finance (YFI) token has risen in price by 141,195.2% in 7 months.
  5. Cryptocurrency Rarible (RARI) has risen in price by 9228.7% in 7 months.
  6. Cryptocurrency Sentivate (SNTVT) has risen in price by 2210.37% in 10 months.

There is a sharp question – which cryptocurrency to invest in? Now there are a lot of coins on the market, so choosing the most promising one is difficult. In the short term, it is difficult to make good money and it is easier to lose it, but in the long term, income will be guaranteed. Below are the top cryptocurrencies to invest in 2021.

1. Bitcoin (BTC)

Bitcoin is the first and most famous cryptocurrency on the market. It is one of the most highly traded cryptocurrencies, providing high liquidity in the short term. Bitcoin has great potential to become the most popular payment cryptocurrency in the world.

Bitcoin has dominated the market since the first coins were mined in January 2009. Bitcoin is known for its sudden drops and surges in prices. For example, the price of BTC peaked around $ 20,000 in December 2017 and then crashed in 2018, reaching $ 3,234. Then the situation changed, but not significantly – the price rose and fell around $ 10,000. However, in December 2020, it began to grow sharply – reaching a record $ 24,000, and the growth did not end there.

In February 2021, its price was $ 48,000 and a market capitalization of over $ 800 billion – this indicates that BTC accounted for over 69% of the cryptocurrency market. Bitcoin has huge potential, and its price could exceed $ 100,000 over the next 5 years. This is why BTC is considered the best investment for aspiring crypto investors.

2. Ethereum (ETH)

Ethereum is a blockchain-based software platform where users can exchange cryptocurrencies. Ethereum has become one of the most popular cryptocurrencies in the world, with a market capitalization of over $ 200 billion, making it the second largest cryptocurrency on the market after Bitcoin.

The Ethereum cryptocurrency has seen tremendous growth since its inception in 2015. At the moment, in terms of market capitalization, Ethereum is second only to Bitcoin, thanks to its versatility, the Ethereum project has become one of the most widely discussed in the world. It was he who made “smart contracts” an integral part of the modern cryptocurrency world.

One of the main philosophies behind cryptocurrencies is decentralization. The project set itself an even more weighty goal than the decentralization of cryptocurrencies – the decentralization of the entire Internet. The platform itself has become very popular as a platform for other cryptocurrencies – anyone can create their own cryptocurrency.

Given the dynamics and market enthusiasm behind the Ethereum project, you can be confident that Ethereum’s price will exceed $ 3,000 in the long run. In February 2021, the price of ETH reached $ 1,800, although at the beginning of 2020 it was at the level of $ 300.

3. Ripple (XRP)

Ripple is very different from the vast majority of cryptocurrencies in a number of ways. Ripple is an invention of Ripple Labs, and XRP token is used in high-speed and low-cost money transfers around the world.

This is a very promising coin, since the project management is constantly increasing its popularity and introducing it into real life. Of the achievements, Ripple Labs has entered into a number of partnerships with leading money transfer service providers. In the future, the company is expected to expand cooperation in the financial market.

Unlike many cryptocurrencies that trade in hopes and dreams, Ripple is already being used in the real world today, demonstrating its widespread use in the financial market. In proportion to the increase in popularity of Ripple, the price may return to the $ 2 range. In 2017, Ripple gained more than 36,000%, which greatly stunned investors. A similar growth is unlikely to happen in the future, but it is one of the best cryptocurrencies to invest in.

4. EOS (EOS)

Another cryptocurrency with smart contracts (like Ethereum) that is gaining popularity is EOS. EOS is considered the first blockchain operating system to offer decentralized applications and parallel transaction processing. This provides faster transaction speeds and better scalability than other competing cryptocurrencies. Transactions on the EOS network are free.

Many competitors, including Ethereum, have a transaction fee for transferring coins from one cryptocurrency wallet to another. In May 2020, EOS completed its ICO, raising a total of $ 4 billion. This indicates the growing popularity of the project, because a huge number of investors interested in an operating system on the blockchain helped to raise $ 4 billion.

EOS is less volatile than other cryptocurrencies. However, this project has huge potential, EOS is one of the most actively traded cryptocurrencies on exchanges.

5. Bitcoin Cash (BCH)

Bitcoin Cash (fork of Bitcoin) is the tenth largest cryptocurrency in the world by market capitalization. The Bitcoin Cash cryptocurrency was developed using a modified Bitcoin code that allowed for increased block sizes, facilitating faster transactions and better scalability.

Despite the fact that Bitcoin Cash is still not widely accepted by society and is not as widely known as Bitcoin, it is still a promising alternative to Bitcoin, which the entire market is following with enthusiasm.

Cryptocurrencies such as Bitcoin are based on a blockchain that stores information about cryptocurrency transactions in “blocks” of data. They can contain as little as 1 MB of information. As the popularity of cryptocurrency grows, these blocks of data fill up, slowing down the speed of BTC transactions and increasing transaction fees. Some Bitcoin developers have proposed a solution that would reduce the amount of data required in each block, but others believed that this would compromise the integrity of the cryptocurrency – so a new version of Bitcoin was created in August 2017 called Bitcoin Cash. Bitcoin Cash has blocks that can store 8MB of data, allowing for faster and more frequent transactions with lower fees.

Bitcoin Cash is less popular than Bitcoin, but its scalability shows incredible growth potential. Very soon, this cryptocurrency may “shoot” as much as BTC did in its time.

6. Litecoin (LTC)

Cryptocurrencies seem incomprehensible and complex to those who do not understand the underlying technology. Litecoin was created to fix this. The founder of the cryptocurrency, Charlie Lee, wanted to create a “light” version of Bitcoin and develop a cryptocurrency that could play the role of silver (LTC) in relation to gold (BTC). Charlie Lee made his idea come true by creating a cryptocurrency that borrowed the best features of Bitcoin. For example, it takes about 10 minutes to confirm a BTC transaction, while LTC transactions are much faster, taking less than three minutes. In addition, mining BTC requires specialized hardware and impressive processing power, Litecoin has much lower system requirements – regular PCs are quite capable of mining LTC.

Practice has shown that long-term investments in LTC can pay off investors up to 20 times. Suffice it to recall the jump in the LTC price to $ 350 at the end of December 2017.

Litecoin is currently trading at around $ 84 and is periodically ranked among the top ten cryptocurrencies by market capitalization. Litecoin boasts faster transaction speeds than Bitcoin, thanks in large part to the use of a different type of algorithm to add transactions to the blockchain. The increased transaction speed also improves scalability. This coin has a huge potential to reach the $ 300 mark.

7. Chainlink (LINK)

Chainlink (LINK) is an Ethereum token that powers the Chainlink oracle decentralized network. This network allows Ethereum smart contracts to securely connect to external data sources, APIs and payment systems.

The Ethereum platform is based on smart contracts or agreements between two parties in a blockchain network with transactions being recorded in blocks of data. The problem is that such transactions can only take place on a platform like Ethereum, and certain conditions must be met in order to execute smart contracts. Chainlink has come up with a reputation system that guarantees data accuracy, ensuring the validity of smart contracts.

Chainlink entered the market in 2014 under the name SmartContract.com. The name was changed to Chainlink shortly after launch. In 2019, Chainlink announced a strategic partnership with Google. The agreement formalized the Chainlink protocol as part of Google’s SmartContract strategy. The move was seen by investors as a major win as it allows cryptocurrency users to connect to Google’s 2 most popular cloud services.

Chainlink ranks 9th in terms of capitalization among all cryptocurrencies. This company can achieve huge success, which will significantly affect the price of LINK cryptocurrency in the future.

8.Polkadot (DOT)

Polkadot (DOT) is an open source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset type, not just tokens, and thus allows a wide range of blockchains to be interoperable with each other.

Polkadot was born on November 14, 2016 thanks to Gavin Wood, co-founder of the Etherium project.

After the addition of the Polkadot (DOT) token to the Poloniex exchange, in the first minutes of the opening of trading, the cryptocurrency rate was near the market value of $ 350. But then it skyrocketed to $ 11,300. It is not known how much the user was able to sell coins at this price, but the profit margin exceeded 3000%.

At the moment, polkadot has a market cap of $ 31 463 933 655.74, which puts it in 6th place in the “market rank” rating.

9. Free TON (TON Crystal)

The Free TON project is based on a flexible blockchain platform called the TON Blockchain capable of processing millions of transactions per second. Initially, this project was developed as part of the popular Telegram messenger, but the SEC imposed an injunction on the basis that it considered the Gram cryptocurrency to be securities. Later, a federal court in New York upheld the decision, barring the transfer of coins to investors, which hit the project hard. Gram was banned from distributing not only in the United States, but throughout the world, since in this case, US citizens would be able to acquire this cryptocurrency.

After the project was closed by Pavel Durov, a team of enthusiasts took on it. Free TON has tremendous potential. In less than a year, the project has formed a strong community around itself, which no project has yet managed to gather. Free TON is something more than just a project and most cryptocurrency fans understand this. In 2021, the project plans to raise its capitalization to $ 1 billion and increase the number of users to 50 million. Achieving these goals will greatly affect the price of TON Crystal.

Conclusion

The cryptocurrency market is still in its infancy. Any newcomer to the cryptocurrency field is better off building a portfolio of widely traded cryptocurrencies – this will minimize risks. 2020 has shown that the cryptocurrency market is very unpredictable and profitable. No one expected that BTC would break its record in the shortest possible time, and with it the price of other cryptocurrencies would start to grow rapidly. In 2021, the price of BTC could really reach $ 100,000, it’s only a matter of time. There are so many promising coins that will bring profit to their investors in 2021.