Cryptobase ATM is a terminal that allows users to convert fiat currency to cryptocurrency. Fiat currency refers to the general government currency such as dollars or Euros. Cryptocurrency, in specific bitcoin, has grown tremendously since its small beginnings in the late 2000s. The early 2000s financial crisis inspired Bitcoin’s growth, which was caused by a financial model with a few irresponsible individuals at the top of the economic food chain. On the other hand, Bitcoin is decentralized and automated, and its transactions are secure, ensuring misconduct is not rewarded, and due diligence is followed.
Bitcoin, after thirteen years since its beginning, performed well. Today, bitcoin’s popularity has tremendously grown. Investing in bitcoin as a short-term, medium-term, or long-term strategy is to make money.
The following are some of how one can make money from bitcoin.
- Storing crypto in software wallets
A cryptocurrency wallet is a digital wallet that allows holders to store unique digital codes needed to send and receive crypto assets. Cryptocurrency software wallets enable users to store their crypto in one place securely. The software wallets allow holders to buy, lend, swap, and earn cryptocurrency.
- Keeping crypto in saving protocols
Storing cryptocurrency in a saving account will guarantee you a specific percentage of interest no matter the fluctuations in the crypto value. If one agrees to lock up their crypto for a longer time, most crypto-saving accounts will offer better interest rates. Crypto saving is a relatively safe method for one to earn passive income from crypto assets. Crypto savings accounts are similar to bank investment or savings accounts which earn interest for the money saved.
- Lending and borrowing
Crypto lending is decentralized commerce that allows crypto holders to lend their cryptocurrencies to borrowers. In exchange, crypto lenders get interest payments which are called crypto dividends. Crypto lending allows one’s crypto to appreciate while holding them with no plans of selling them.
A third party, usually a crypto lending platform, connects lenders and borrowers, thus facilitating crypto lending. The steps involved in the crypto lending process are as follows; The borrower requests a loan from the crypto lending platform. After the crypto lending platform accepts the loan request, the borrower stakes the crypto security. The lenders via the platform automatically fund the loan and receive regular interest as payments. The borrower gets back his collateral after paying off the whole loan.
- Buying and selling
Buying and selling bitcoin is the long-established and most precise method of making profits from cryptocurrency. To buy crypto, one needs to decide on the type of platform to use to buy the crypto. The two most common platforms are crypto brokerages and crypto exchanges. After choosing a platform, one needs to create an account with the platform account by providing the required details. The next step is funding the account with fiat currency used in the next step of purchasing cryptocurrency. Cryptocurrency prices keep on fluctuating; thus, it’s wise to wait for a price dip to make a purchase, after which one waits for the right time to sell when one feels that the profit can justify cashing out.
The constant and very high appreciation of cryptocurrency over a year or two-year period renders the regular daily, weekly, and monthly fluctuations insignificant and makes crypto investment a solid investment with huge benefits.
A Cryptobase ATM is another platform that enables the cryptocurrency’s purchase and selling process. The Cryptobase ATM is user-friendly, has a faster processing time, and is secure. You only need a smartphone to receive messages and a digital wallet to store the purchased crypto.