The world just witnessed Blockchain Week in New York City. This is a full week of blockchain technology and cryptocurrency related events where over 8,000 investors, developers, entrepreneurs and enthusiasts from all over the world will be in attendance. Everyone in attendance is present to find the answer to one big question: What are the some ways to make money with cryptocurrency and blockchain technology?
1. Buying Cryptocurrencies Directly
The time it takes to open a cryptocurrency trading account is minimal. Once the account is opened & you have a wallet (which is usually hosted by a trading platform) you can begin to trade cryptocurrencies like Bitcoin or altcoins like Ripple. This sounds simple but for the untrained novice, you could be looking at very long hours. Crypto trading is a 24-hour market so if you plan on sleeping, you’d better have a good idea on what your crypto positions are going to do overnight. There’s also significant risk that your standard retail crypto account could be hacked or breached.
2. Buy Stocks
Many of these companies either have large warehouse set-ups to support enterprise scale cryptocurrency mining operations or they are strategically investing in multiple digital assets.
Block One Capital USA Ticker: (BKPPF) / Canadian Ticker: (BLOK.V), for instance has taken a diversified investment approach. From its investment into Finzat, a blockchain tech built for the mortgage industry, to its 6-figure investment into one of the most popular ICO’s this year, Shopin Token, Block One Capital offers exposure for investors to opportunities that otherwise would not be available. In a recent conference call, Block One’s CEO expressed several key developments that will be coming during the upcoming weeks and months that could set the company up to become a real leader within the market.
3. Mining Cryptocurrency
A power source, some cooling units, connection to the internet and mining rigs get you set up to begin mining cryptocurrencies. Many people have already deployed a similar strategy to get rich mining Bitcoin, for example. With the average cost of power and the lower price of Bitcoin, mining operations need to scale up in order to adapt to the current conditions. Where 2011 saw people mining with their home computers, today’s mining requires large sums of capital and the ability to dramatically scale up operations. This being the case, if you have a few hundred grand burning a hole in your pocket, it may be an option.
The Choice Best For You
All the above have their pros and cons but it’s important to know that more public companies are entering this space and could be offering ways to make more money while mitigating the risk of directly purchasing cryptocurrency or creating your own blockchain technology. Some speakers and/or exhibitors of the 2018 Consensus include companies like FedEx, IBM and even Microsoft, which is why people are choosing the stock market over other options. In the end the choice is yours.