A guide to making money for people with patience.
Everyone loves to make money and it becomes more interesting when the money is coming from less effort and less investment path. There are very few ways in the world in which you can earn money without investing or investing little time and money. One of the most famous ways is to invest in stocks and wait for the stocks to go up. There is another way to invest a little amount of your money and time and earn a good profit in return that is in cryptocurrency. But only if you understand how it works and how you can earn a good amount of money without investing too much into it.
I know many people still believe that Bitcoin and cryptocurrency is a scam. I used to believe the same before 2017. I had no knowledge about the crypto world and I always looked into it as a scam thing. But when I started looking into it, I learned so many new things about how I can earn money and use cryptocurrency in many useful ways. In this article, I will try my best to share with you how I got into the crypto world and how I made $5000 without investing no money in 2017.
Photo by Austin Distel on Unsplash
How I get into Cryptocurrency
In 2017, I was doing my Masters in Electrical Engineering. I was doing a full-time degree so it was really hard to find time for a job. I was looking for different ways to earn money online. At that time one of my close friends told me about cryptocurrency, especially about Bitcoin. He told me about How bitcoin works and what is blockchain.
If you want to learn about Bitcoin and Blockchain please check my recent article in which I explained the working of Bitcoin and how scammers use it.
Back to the story. My friend told me how to buy bitcoin and other cryptocurrencies (altcoins). Also, he taught me how to trade cryptocurrency and earn money. But the problem was, I was a student and I have no money to invest in anything. At that time price of a bitcoin was around $1200. Then my friend told me about a social network website that is quite the same as Facebook and twitter but with one special feature. A social network based on blockchain technology. People can share there life moments and experiences and earn some cryptocurrency in return when someone likes their content. The name of that social network is “Steemit.”
Introduction to Steemit
Steemit is a blockchain-based blogging and social media website, which rewards its users with the cryptocurrency STEEM and Steem dollar for publishing and curating content, and is owned by Steemit Inc. They have a policy that you can withdraw your earned Steem dollar straight away as soon you received in your wallet but Steem can be withdrawn in a time period of 3 months. When my friend told me about this website I started posting my life moments and experiences on to it. I started posting from 2nd June 2017, at that time the price of Steem was around $1 and Steem dollar at $1.50. The price was low at that time but not so bad to start working on Steemit.com.
Price details from coinmarketcap.com
*I want to share my Steemit account with you guys but I still have some earning on my account and I don’t want to get hacked… haha
I started posting my content on steemit and started getting attention from people. If I am not wrong I worked on steemit for around 4 months. From June till September 2017. I earned 300 Steem Dollar coins and 150 Steem coins. At that time the price of Steem Dollar coin was $1.05 and the price of Steem coin was $1.22.
According to the price in September 2017 I made around $500. This is not a big amount to earn in 4 months but for a person like me who is not working and only studying, for me it was a big amount. I discussed with my friend that I made these coins in 4 months of sharing content on Steemit.com. He told me to send my coins to Bittrex.com exchange and keep holding the coins because he told me that there are rumors that Bitcoin price will go up in near future and these altcoins (Steem and Steem Dollar) depends on the price of Bitcoin. So I did the same. I sent my coins on Bittrex exchange and started waiting for a good time to come.
The price of Bitcoin touches all-time high
I was holding my coins on Bittrex exchange and started looking for an increase in the price of Bitcoin and all the altcoins. Suddenly in October 2017, the price of Bitcoin goes up from $3000 to $5000. I was shocked at that time and wanted to sell my coins but my friend told me to wait for some more time. In November 2017, the price of Bitcoin touches $7000 and on 08 December 2017, it touches $17,000 mark. At that time I discussed with my friend and he told me maybe the price of bitcoin will go up but don’t be so greedy you invested nothing and you have made a big amount so exchange your coins for dollars.
At that time price of Steem coin was $8, I have around 150 coins and they turned to $1200. The price of the Steem dollar coin was higher than Steem coin at that time. It was around $12, I have around 300 coins and they turned to $3600.
The total amount I made from Steem and Steem Dollar was $4800.
That was a huge amount for a person like me who is studying full time and not working. This is all because of my friend who told me about steemit and guide me when to sell the coins.
Why I am sharing my Story with you
I am sharing my story with you guys so that you can get some motivation and realize that Bitcoin and Cryptocurrency is not a scam. Yes, people do use these ways to scam but you have to be smart if you really want to do something. The main purpose of my story is to tell you that the price of Bitcoin is again going up these days, at the time of writing this article the price is around $11,480 and hopefully it will go up to $40,000 in near future.
So I think it is a good time to start looking for some ways to earn some cryptocurrency. “Steemit.com” is still working and available to use but the team working on steemit is moved to a new project called “Hive Blockchain.” You can learn more about Hive here.
Also, there is a new coming network called “The Capital.” The Capital is a financially incentivized social micro-publishing business platform. It is the same as “Medium.com” and other content sharing platforms to earn some cryptocurrency reward. You can learn more about this network here.
These are just 2 examples. I am sure there are so many more networks like these to earn money online. All you need to do “Be Smart” and you will be rich one day.