HOW TO EARN EXTRA INCOME THROUGH Crypto & NFT's

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.

Crypto Craze

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.

What are NFT's

NFT stands for Non Fungible Token - which means that it is an item of a monetary worth that does not hold a constant value. Its unlike currency which can be exchanged for the same quantity of worth with other like money (trading in $20 for two $10's or four $5's etc.). However, in essence NFT's have unique qualities that make that equal trade impossible- the most similar example is in reference to the art world, or even jewelry. With items that have an artistic flair the value changes due to interest and uniqueness. Although NFTs are Digital works of art (which typically would mean that they can be duplicated over and over again) they are created in such a way that they are bought and sold with a digital certificate those certificates hold ownership rights which can be bought and sold. All that said, think of NFT's as digital collectable playing cards (ex. baseball cards, Pokemon cards etc.) you purchase with dollar or more commonly with crypto and trade them making a profit from each sale.

How to create and sell NFT's

Another way to make money with NFT's is to create your own and list them for sale using apps like OpenSea and Meta Mask. Here is how to to create and sell NFT's

Create

Creating your own NFT is the fun part - all you have to do is get your creative juices flowing and create a work of art in your favorite medium... 3D, Photoshop, Microsoft Paint - you name it, it just needs to be a digital work- heck it could be your hand written signature if you want!

Upload

Next Sign up for a digital wallet, Meta Mask or Coinbase are 2 popular ones. You may need to deposit crypto into your new wallet.

Open an Opensea account and connect your new digital wallet to your open sea account. create a new collection and click add to add your digital work of art.

Sell

Now its time to sell, you can join NFT forums on Reddit to advertise your NFT's for sale.

Note: Because NFT's are unique they must be minted on a blockchain which does come with some upfront fees.

Doing your research - Avoiding Scams

There is no fool proof way to avoid the crypto scams. Some good advice? Don't get wrapped up in the next best thing off of a single opinion that you found online. If you find good information dig deeper and find more credible information before putting your hard earned money into a coin. Forums on reddit and twitter handles do spread a lot of positive momentum and there are some people posting legitimate research but I'd advise you take it with caution and make sure you read the white page the coin offers, stay current on the news, only invest what you're willing to lose until you are sure that there is a solid foundation. Keeping perspective in mind, you may miss out on the first jump in price that netted your peer hefty profits, but if you take the safe route you could hedge agains major losses as well.

So tell us, do you have experience making money in the crypto market share your experience in the comments ?