Cryptocurrencies are known as a form of investment with high returns, which come with much greater volatility than other assets, as they can increase or decrease dozens of times in a short period of time. The high level of risk makes many people hesitant to participate in the market without knowing that in addition to buying and selling crypto, there are other ways with much lower risks but still extremely promising profits.

Let's learn about methods of making profits in the crypto market through this article.

It should be noted that you can implement the methods below individually, or combine methods to maximize profits.

1. Spot Trading

2. Futures trading

3. Save money

4. Staking

5. Airdrop

6. Play games to make money

7. Walk/move to make money

8. Receive dividends and profit sharing when holding crypto

9. Arbitrage trading

10. User referral

1. Spot Trading

Buying low and selling high is the most popular method, as well as bringing the greatest profit when participating in crypto investment.

This sounds simple, you choose and buy a token and sell it when the price increases. However, buying when the price is low and selling when the price is high is a complicated journey, requiring you to understand the market, understand the token, and have the knowledge and courage to buy when the price drops and hold it. it comes when the price increases.

There are 2 options for you to trade and buy and sell tokens: Centralized exchange or decentralized exchange. These two options have different advantages and disadvantages, suitable for each individual's preferences. However, for newbies, decentralized exchanges require you to learn the operations to use many related applications. Therefore, a centralized exchange may be the optimal initial choice when you first enter the market.

You can refer to Nami Exchange, where you can quickly trade in VND, suitable for Vietnamese people.

Read more Spot trading instructions on Nami Exchange

2. Futures trading

Futures trading is an activity that uses leverage to maximize profits. This type can bring in dozens of times more profit than Spot, but the risk level also increases accordingly.

What newbies need to do when participating in Futures trading is that you need to clearly understand the knowledge of technical analysis, fundamental analysis,... to predict the correct price path when entering an order.

In addition, your trading floor also needs to ensure safety, transparency, and always be ready to support. FTX is a case where everyone should be careful when choosing their exchange.

Nami Exchange fully meets the above criteria, and also provides ~ 10 USD for you to trade and can withdraw when you reach a certain trading volume threshold.

Read more Futures trading instructions on Nami Exchange

3. Save money

This method is similar to when you deposit savings in traditional banks. Once again, it is necessary to reiterate that the platform on which you deposit your savings must be truly safe and transparent, because there is a high possibility that the platforms can use your deposits for other purposes, which may be possible causing loss of property as in the case of FTX.

With an interest rate of 12.79% with no locking time for stablecoin VNST - a token anchored to VND, especially without requiring asset locking, you can hardly find an interest rate with a similar time period. You can deposit and withdraw or use for trading on Nami Exchange at any time, because savings do not require locking.

Learn more about earning interest every day on Nami Exchange

4. Farming

Farming is when users use tokens to provide liquidity for decentralized applications, in return users will receive rewards from those applications, which can be in the form of project tokens, or the tokens that users own. used to provide liquidity.

This method's profits fluctuate greatly, when interest rates can range from just a few percent to thousands of percent, but the associated risks also fluctuate at a corresponding level.

Defi is one of the most important areas of blockchain and it is continuously improving over time, and currently defi projects are not really friendly to new users. Meanwhile, farming is closely related to Defi. To start making profits with farming at an effective level requires users to have quite a bit of knowledge, from using decentralized applications, to choosing how and which applications you want to provide liquidity and especially knowledge about farming.

5. Airdrop

Airdrop is a project that rewards supporters, usually in the form of project tokens. Backers in this range often use the product before the project launches its token.

The rewards for users who "hunt" for airdrops are also very generous, as projects can award tokens worth thousands of dollars to each account. Meanwhile, the cost users have to spend when interacting early with the project is not too high, can only range from a few dozen to about 100 USD.

Some typical examples are Arbitrum, Optimism, Aptos, dydx, Maverick and many other projects all spending tens, hundreds of millions of dollars to reward tens of thousands of dollars for each user.

To talk about the process and how to hunt for airdrops, we will probably need to write a separate book. However, in this article, what needs to be emphasized when doing an airdrop is that you first need to learn how to find projects with airdrop potential. Then interact and use the project like a real user to be rewarded appropriately.

6. Play games to make money

The trend of playing games to make money, also known as gamefi, has flourished in the previous "uptrend". Gamefi is also an important driving force in attracting new users to the world of cryptocurrency because of its friendliness, ease of participation and high profits.

Currently, most gamefi projects apply the model of playing games to make money, with a bit of a "ponzi" feel. Each project has different ways for users to make profits such as winning matches, or gathering resources. Gamefi is still considered a potential piece of the puzzle and is still attracting investment funds and organizations to put resources into this field.

7. Walk/move to make money

Walking for money is probably a variation of the money-making game model, when you need to buy items and move to receive tokens and sell them for money. This model developed strongly when it was first launched but declined later, when it failed to prove its sustainability over time.

The reason is that the more users participate, the more tokens are rewarded, and when there are no new users to absorb those tokens, their price will drop rapidly causing profits to drop suddenly.

8. Receive dividends and profit sharing when holding crypto

This is often referred to as a revenue sharing model, where the project shares revenue with its token holders.

Many projects with millions of dollars in revenue each month are applying this model such as GMX, dydx,...

To profit from this method, users will have to hold tokens and may need to lock tokens to receive revenue shares.

Advice for new users is to choose reputable projects with sustainable revenue and a clear revenue sharing method, because this way when the token price increases you will receive benefits.

9. Arbitrage trading

Currently, most coin prices always have differences between exchanges or between markets. Leaving aside the fraudulent behavior related to FTX, perhaps making a profit from the price difference of BTC by Sam Bankman-Fried in Japan and Korea is a classic example.

Arbitrage can be leveraged by users themselves, or it can be applied by projects themselves to ensure token prices are kept at a fixed level, such as with the price retention mechanism of stablecoins.

10. User referral

All projects want to attract as many users as possible, therefore launching a lot of user referral programs. In return, the referrer gets to share the revenue from the referred person.

This method is probably currently very popular with MMO (make money online) users. You can make money from this method in many ways, such as directly introducing products to people online, offline or forming groups, sharing knowledge, experience and introducing products to your groups. me.

With this method, you can receive tens or hundreds of millions of VND each month. Currently, Nami Exchange is applying a 20-40% transaction fee sharing for referrers, you can refer to it here.

Conclusion

Above are 11 ways to make profits in the crypto market in 2024 that you can apply. Each method has its own advantages and disadvantages and all have high profits when done properly. What you need to do before starting is to equip yourself with full knowledge of each method.

VNST, with the mission of providing safe, stable and convenient financial solutions for users, helping them easily participate in the financial technology market, will continue to contribute to the community to improve understanding of electricity money. electronics and blockchain technology.