Crypto currency has become an increasingly profitable market to invest your money in. Since the rise of Ethereum and Bitcoin many people agree that crypto currency is our future currency. While there is risk involved with all trading and investing it can be an easy way to grow passive income allowing you to free up your time to spend with your little ones as a SAHM or escape the 9-5 rat race.
Is crypto currency the new age way of making money in your spare time? Can it be the new stay at home mom dream job? Where are we really headed in digital currency?
Although here at Modern Housewife we are not financial advisors, and you should always do your own research when deciding to invest money in stocks or digital currency, I will say there are many folks out there that are benefiting from what the crypto market has to offer.
The benefit to most crypto trading right now seems to be the ability to get in at rock bottom prices! With the majority of investors in crypto reportedly having a salary of around 40K its becoming a great option for middle class investors that can't afford expensive stock. You also don't need a hefty investment to make money in crypto, as you would in most stocks on the stock market, of course, I'm not talking about bitcoin which has grown to 50k+ per coin (although I wish I bought that at $1 back in the day...) I'm talking about tokens or coins that have potential for growth. Coins that are solving business and lending issues and creating new accessible products to make our lives easier.
It wasn't too long ago that Doge coin went from almost no value to a jump well over the .50 mark, so if you would have been watching the crypto buzz you may have been inclined to invest. Lets say you invested about $50 when Doge was listed at .0025 which would have given you a 20,000 share stake. Your return if you held on and cashed out at .50 cents per share.... $10,000.
This is just one realistic example of what Crypto can do if you're willing to take small risk and hold. The truth is the buck did stop at Doge, there are new "tokens" raising in value all of the time if you just keep your eye on what hype is being pushed and do a little research that big break could be yours...as we also just recently saw with Shiba Inu which is still trading at fractions of a penny and set up for growth over the next year or two.
Is Crypto the future?
More and more people now believe that we will be making purchases and borrowing money completely digitally in 20 years! that's huge! it also means the money invested today could pay you off big time in the distant future- imaging having hundreds of thousands or even millions of shares at the cost of less than a penny and trading it when it hits $1, $5 or even $3,000 (which is what Ethereum is trading at in todays market btw).
But. buying and holding for the long haul isn't the only way to make money. There is also a way to generate ongoing income weekly, monthly or as needed - that being swing trading on the crypto market or investing in crypto that pays regular dividends (such as the very popular and promising Algorand).
Where to Invest
Coinbase: designed for crypto trading- they offer a wide variety of crypto currencies including the newest hot token - Shibu Inu
Webull: gives you the option to trade on the stock market and crypto but may have a more limited selection.
Robinhood: A new platform that also allows you to trade on the stock market and on crypto and offers free trades.