How To Start Crypto Business Without Capital
Eric Schmidt said, “the ability to create something which is not duplicable in the digital world has enormous value. Lots of people will build businesses on top of that”. There goes the power of cryptocurrency, a currency without a government with enormous value.
A form of digital asset that is based on a network that is distributed across a large number of computers. The whole crypto space has evolved right after the first emergence of the first crypto asset, Bitcoin.
There are over 10,000 listed cryptocurrencies, and this number is only bound to increase. Out of this, Bitcoin has the largest share in terms of market capitalization.
As of 2021 according to Triple-A, it is estimated that global crypto ownership rates at an average of 3.9%, with over 300 million crypto users worldwide. And over 18,000 businesses are already accepting cryptocurrency payments.
Related: All you need to know about cryptocurrency
So why do you think there has been a massive adoption of cryptocurrency? Apart from just being a digital asset, trading crypto is an avenue of making money.
Cryptocurrency is the main deal and there have been several success stories of people making millions of dollars from it. People look for a way to diversify their source of income and the crypto space provides that.
The truth lies in the fact we all need money, we all want money and most of us feel we don’t have enough of it. So what does the Crypto business really entails and how do we make more of this money in the crypto space? After this, we will look at how you can start crypto business without capital.
How to Make Money From Cryptocurrency
Trading:
The biggest risk of all is not taking one and the higher the risk the higher the returns. Trading comes with its own risk but despite the volatility of the crypto space, trading has proven to be an effective strategy for making money.
The volatility of the market implies that the prices of assets can decrease or increase over a short period of time. Trading involves having a form of cryptocurrency by buying and selling these digital assets in a short term.
Profit is made when you buy a cryptocurrency such as Bitcoin at a lower price and sell it at a higher price. To be a successful trader, one has to be knowledgeable about the market and have technical and analytical skills.
Investing:
Robert G. Allen said “how many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.”
The traditional approach to investing has always been saving in a bank but in the long run, does this payoff? Why look for a needle in a haystack when you can buy the haystack? Investing is a long-term strategy that involves buying and holding crypto assets for some time.
Imagine you bought BTC when it was valued at $10 and held it for years till it got to over $30,000. Not only have you gotten double your money but way more than you can imagine.
That is the power of investing, putting money into what you believe in, and watching it grow over time. To invest in the crypto market, one has to spot digital assets that have potential and can be considered a safe investment in the long run.
Dollar-Cost Averaging(DCA):
Dollar-cost averaging (DCA) is a strategy where an investor invests a total sum of money in small increments over time instead of all at once.
The goal is to take advantage of market downturns without risking too much capital at any given time. This helps to reduce the impact of volatility on the purchase of an asset, so instead of buying a lump sum of an asset, you invest little by little at lower prices so as to hedge risk.
Staking:
Staking cryptocurrencies is a way of earning passive income on digital assets that investors plan to hold for the long term. It’s akin to an interest-bearing savings account, in that when you stake your holdings, you receive a yield percentage on those assets over time.
When you stake your cryptocurrency holdings, you put them to work. In the case of staking, you’re talking about anywhere between 5% to 15% in passive income per year.
Lending:
Just as banks lend money to people and earn interest on this, you can also lend out your cryptocurrency at a particular interest rate.
Similar to staking, investors who have accumulated a large portfolio of cryptocurrencies can lend those tokens, cash, or stable coins to borrowers in exchange for interest payments. Unlike getting a loan from a bank, crypto lending is typically peer-to-peer lending
NFTs:
These are non-fungible tokens. They are digital works of art and collectible that are one of a kind. People collect these works of art as a way of investing. Collectors have the chance to buy digital art or other NFTs at a low price and potentially benefit from that work’s appreciation over time.
OTC Trading:
Crypto over-the-counter trading is simply the trading of crypto assets directly between two parties. In an OTC trade, two parties agree on a price and then work out the transfer of assets between themselves.
OTC trading provides an easy way to get your hands on some crypto. Making money via OTC trading is primarily accomplished through arbitrage- the process of buying/selling a product or service in one location and then selling/repurchasing it in another area at a better price to secure a profit.
All these cited above are the many ways one can make more money in the crypto space. Noticed I wrote more money, well “more money” because for you to do all this, you need capital which is funds. It is a case of your money working for you. Money begetting more money. Without enough funds, all these strategies can’t be carried out.
The Best Way to Start Crypto Business Without Capital
So what is the faith of those that do not have the capital i.e funds to even venture into the crypto market? Well, all hope is not lost. The Truzact referral scheme is up to the task.
What is the Truzact Referral Scheme?
Truzact is a safe and secure crypto wallet that allows one to store, save and invest crypto assets. The truzact referral scheme is one that a reward-based scheme that rewards you in dollars based on the people you refer to using Truzact. For every referral, there is a reward. This is why it is arguably the best way to start crypto business without capital
So let’s say you need $500 to start your crypto business, what do you need to do?
- Download the Truzact app on the google play store or the Apple store
- Sign up on the app using a valid email address, this automatically gets you a referral link
- Copy your unique referral link and start sharing it with friends and family. Now, this is the start of your journey to get your needed $500 capital.
- You refer 50 people who successfully sign up on the app and make their first deposit. For each of these 50 people, you get $10 each.
I am a lover of mathematics, so basically, a basic calculation done will give you a total of $500. Viola! You just made your first $500 without even having to trade or invest. Finally, you get to start your crypto business. This is what the Truzact Referral Scheme does for you.
