Entrepreneurs all over the world, including teenagers, such as Eddy Zillan, are making fortunes by investing in cryptocurrencies. Zillan started by making a 10% return daily on an initial investment of $100 and now boasts a multi-million dollar fortune in just under six years since he started trading crypto in 2015. Today, he even offers consulting services to like-minded investors.

Although crypto volatility poses a significant investment risk, you can leverage the same and turn your investment into a fortune, sometimes even overnight. Yes, you heard us right, provided you know what you’re doing in the first place. Justin Wright, the Co-Founder, Group CFO, and COO of Yield App, together with Angus Lo, the Co-Founder of CoinUnited.io, helps shed light on the best way to earn money daily through cryptocurrencies in a recent interview with the Human and Machine channel.

Set Your Rules and Objectives

Investing in cryptocurrencies can be pretty risky—something you’ve probably heard reiterated by different experts. However, with no central regulation, there are no rules to this game; you have to create and abide by yours. “You have to set your objectives. And again, doing your research is critical,” says Wright.

Unlike half a decade ago, there are now many online resources for crypto investment. For example, Crypto companies like Yield App have a dedicated blog section that educates users on the basics of crypto investment, starting from the simple definition of what cryptocurrency is, what wallet is, and how wallets work. Getting insights into these basics will help set a clear objective before putting your first funds into a crypto wallet.

“So there’s such a wealth of information you could probably spend the next two weeks trying to catch up with just stuff that’s on the website first of all,” advises Lo.

You Can Make Money Overnight, But Think Long-Term

A solid crypto investment built over time can guarantee you daily income generation. “If you look at the institutional awareness of decentralized finance across different verticals of that, it will be hard to think that we aren’t on the edge of something that’s sustainable and is going to be much bigger in time because there are valid applications, '' says Wright.

For instance, if you chose the NFT investment approach, try to focus on individual ownership of what you do with the assets instead of letting a giant tech manage it for you. Moreover, although NFTs are proliferating to the mainstream, they are still in infancy. Furthermore, the value of the markets is dynamic. They go up and down, making it somewhat challenging to tell who is right about what at this stage.

“I think long-term there is a legitimate value in what the industry is doing, and it’s about being able to take that time horizon and not making too much of an emotional move in the short term,” says Wright.

Diversify Your Investment Portfolio

Making money through cryptocurrencies is easier if you diversify your investment portfolio to mitigate the market’s volatility. Moreover, “a lot of decentralized financial opportunities are on other networks outside of BTC, of course,” advises Wright. Typically, nearly every beginner on crypto investment starts with Bitcoin.

It will help if you find a way to safely wrap your BTC around multiple investments. After that, research the internet to find out how you can grow these assets. If you’re into a long-term investment, employing capital preservation strategies sounds like a prudent plan.

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Key Takeaways

Cryptocurrencies can help you amass a fortune in the near future if you trade. Better still, you can leverage innovative platforms, such as Yield App and CoinUnited.io, to access educational materials and insights into running your first trade. But, most importantly, invest in cryptocurrencies cautiously. “ Don’t go all in like any other investment, you first invest with the amount you’re comfortable with. Like maybe 5% of your total assets or investment portfolio to start with,” says Angus Lo.

About Yield App

Yield App is a leading global platform for wealth management that empowers users to discover the easiest ways to earn interest in crypto investments. Some of the assets available on the app include Bitcoin, Ethereum, USDC, and USDT. Users can also generate income through the YLDT loyalty and rewards program.

About CoinUnited.io

CoinUnited.io is one of the largest NFT collectors in Asia, currently operating over 1000 Bitcoin ATMs in the region. The online wallet allows users to hold more than 5,000 cryptocurrencies at 0% commission while also earning up to 15% in rewards. On top of that, users can trade their cryptocurrencies and earn interest 24/7.

About The Human and Machine Channel

The Human and Machine channel engages teams developing innovative technologies around the blockchain and DeFi worlds. The 30-minute podcast interviews feature Hikaru, the Machine, and Tlahui, the Human who help break down the complexity around DeFi projects to get simplified from the experts and educate the viewers.