How to Invest in Cryptocurrency: Make Passive Income

Everything you need to know about cryptocurrency.Photo by André François McKenzie on UnsplashThis is probably one of the newest forms of passive income to date. As of now, the majority of people on the planet have no idea of what cryptocurrency really is. By now, they may have heard about it on the news but still have not yet grasped what a great investment tool it really is.Like the stock market, investing in cryptocurrency comes with its own share of risks but if you’re careful about choosing profitable coins to invest in, you could generate quite a bit of income in the process. For instance, if you had invested $1000 in Bitcoin only a few years ago in 2013 and simply held onto it until now, those coins would now be worth at least six figures today.But as exciting as cryptocurrency really is, it is also just as scary. You’ve heard about the recent rise in the price of Bitcoin, jumping nearly $16,000 in a matter of months only to see it plummet almost to the bottom in the same amount of time. Yes, this is a volatile market to get into. Those who choose to take this route are cautioned to do so very carefully. However, that doesn’t mean that cryptocurrency is a money trap. There are still quite a few opportunities to turn a profit in this new way of generating income. If you’re not brave enough to put your money in Bitcoin, there are more than enough alternative coins that could be worth considering as investment opportunities.Photo by Aleksi Räisä on UnsplashIn its simplest of terms, cryptocurrency is digital money. It is money that exists only in the cyberworld. If you’re having difficulty wrapping your head around that, think of the automatic deposit of your paycheck. The…