How to make money on cryptocurrency in 2023 from scratch

Do mining or invest in staring? Conquer a NFT market, trade on the exchange or finance the upward project? All these are ways to make money in cryptocurrency in 2023. They prepared instructions for those who are pouring into this market from zero. New oil, virtual Eldorado, the money of the future, which is already very expensive now - describe cryptocurrencies with such metaphors and comparisons.

Over the past couple of years, the number of people who have earned the first condition on digital coins are multiplied by almost zero. It is no wonder that newcomers also think how to enrich themselves on this. But they do not know where to start. From mining, investment, trading, creation and sales NFThttps://www.mexc.com/price/HEC  - there will be a dozen options.

What is cryptocurrency

Cryptocurrency - digital money, which is based on the program code - it was calculated by the computer. Virtual payment systems with own currencies, which are also called coins. All operations in this system are protected by a cipher - a cryptographic way.

The cipher is based on the blockchain - the colossal database from identifiers and control amounts. A new approach, the essence of which is in decentralization and general control. Blockchain can be explained by an example.

What is it for? The most popular answer is that the money no longer depends on the authority of the central banks, financial institutions. Only mathematics that guarantees safety.

Most cryptocurrencies are not supported by real currencies, gold reserves, but get their value only due to the trust of their holders, which, in turn, trust the blockchain system.

Step -by -step instructions for earnings on cryptocurrency for beginners

1. Mining

Produce existing cryptocurrency by calculating new blocks to the computer capacities. Previously - in the early stages of the appearance of crypts - for mining there was enough power of the home PC. Over time, new blocks are more difficult to get.

After all, everyone is associated with the previous one, and he is associated with another and so on. To make calculations, you need a lot of equipment. Therefore, now miners create farms - complexes with a large number of video cards (they faster than processors make calculations).

How to start: to assemble a mining farm or purchase a ready -made, choose cryptocurrency for production, launch an application for mining.

Advantages and disadvantages

+ Low risks: Make coins that already have value.

- A large entry threshold - equipment for production is expensive, you have to pay for electricity.

2. Cloud mining

Passive cryptocurrency mining. As we have already said, the equipment is expensive, and the market is a shortage of powerful video cards - everyone is buying miners. But someone buys them and gets them with a crypt! Farms need money for development, payment of electricity. They accept investments. In return, they share with you mined coins.

How to start: choose a cloud service, conclude a contract with it (as a rule, there are clear tariff plans) and wait for its execution.

Advantages and disadvantages

+ You can pay mining with crypto or ordinary (fiat) money, you do not need to plunge in the wisdom of the creation of farms, to rob them, other people are busy with this.

- There are fraudulent projects on the market, miners can cunning and not reporting real numbers, how many cryptocurrencies they actually got for your money.

3. CryptoTreding

“You buy cheaply - you sell at a peak” - simple rules, in a very difficult game. From classic trading, the cryptocurrency market is distinguished by even greater volatility - price inconstancy. Is it bad or good? For the layman, bad. And for the investor, it is a real way to get 100% in a matter of hours and even 1000% on the difference in courses.

How to start: to register on one of the large crypto -streaks.

Advantages and disadvantages

+ High income, you can trade 24/7.

- Great risks, you need to invest in yourself, constantly improving knowledge of trading, be able to read and feel the market.

On the website mexc.com/ you can read about ways to make money on cryptocurrency in 2023.