Believe it or not, Ethereum has the potential to give a tough competition to its forefather Bitcoin. After enumerating its growth in 2017, it is clear to many that this new altcoin is here to stay. This seems like good news for traders and investors who are up for a good return of investments in the coming years. There are a number of ways in which you can make money with Ethereum. The popular choice for online users is Ethereum mining and Ethereum investments.
Make Money with Ethereum Mining
In case you are a tech-savvy and are trying to weigh the pros and cons of Ether mining, let us tell you, it is one of the easiest ways to earn Ether without investing much. The way the price of this new cryptocurrency is surging every year, with more and more people using this platform for transactions, mining seems to be a great option for crypto lovers. Before you enter the field and dive deep into the process of mining cryptocurrencies, you should know what mining equipment to purchase and how much power consumption this process will ensue. If you are ready to bear the additional electricity charges (this is the only disadvantage of crypto mining), and are ready to wait for 6 months to recover your capital, you are definitely in for the game! However, there’s a small twist here. All your hard work will bear fruit only if the value of Ether remains more or less constant. With the increasing value of Ether, the mining fees will increase, thus benefiting Ether miners. But, if in case, the value of Ether goes down, then mining would not be a good option as the mining fees will also decrease. After paying for the exorbitant electricity charges that an online activity like mining demands, the net take home would be negligible. You need to invest both your time and money in this venture, so make sure that you have weighed the consequences carefully. Evidently, Ether mining is a profitable scheme for those who live in a place where the electricity charges are comparatively lower.
Make Money with Ether Investments
Another option to make money is by investing in Ether. You can simply buy Ether using your debit/credit card or exchanging your Bitcoin earnings for Ether and wait for the value of this cryptocurrency to reach the desired goal before encashing the same and earning a huge profit.