Start Earning Now. Etherium to Litecoin
With the advent of cryptocurrencies, a lot has changed: business, communications and financial relations. Before the advent of decentralized blockchain technology, it was necessary to organize your own business in order to generate income from currency exchange. Moreover, institutions needed to obtain special licenses in order to conduct these and other transactions with currencies. Of course, nothing has changed in this regard, although with the advent of Internet technologies, the registration process has become simpler in itself. But it was cryptocurrencies that gave impetus to the formation of a fundamentally new market. Now, in order to make money on the exchange, users do not even need to leave their computers.
How cryptocurrency exchangers work: how you can make money
The operating principle of crypto exchanges is quite simple. There are two main types of exchangers:
· Centralized, in which users exchange cryptocurrency with the service itself;
· Decentralized or peer-to-peer, in which users exchange with each other, and the site acts as an analogue of a broker and guarantees the safety of transactions.
How centralized cryptocurrency exchangers work:
- You transfer money to the service details and pay a commission (it can be taken into account when calculating the purchase rate);
- After the money has been credited to the account of the exchanger, a pre-agreed amount in cryptocurrency is sent to you.
Currency and cryptocurrency exchange through P2P platforms is as follows:
1. You choose a seller and leave a purchase request;
2. The seller sends you the details for the transfer of funds;
3. At this time, the amount specified in the application is frozen on the seller’s account until he confirms the payment. Thus, the cryptocurrency exchanger ensures the safety of transactions;
4. You send money to the seller’s details;
5. The seller confirms that he received money from you;
6. The cryptocurrency is automatically sent to your internal P2P exchange account.
As you can see, this is not difficult. It remains to figure out how to become this very seller and make money on the exchange of cryptocurrencies.
How cryptocurrencies are exchanged in online exchangers
You do not need to perform any specific actions to start making money on the exchange of digital assets. However, there are a number of rules and guidelines to help you get started. It should be borne in mind that when using P2P exchangers, you will need to go through full verification (mail, phone, passport and selfie). This will expand the limits for transactions and increase user confidence. Potential clients will be more willing to work with verified accounts than with anonymous ones.
To start making money on exchanging cryptocurrencies online, you first need to get a good reputation. The better the reputation, the higher the chance that users will turn to you. To do this, you need to complete multiple trades, get reviews and get a high rating. It is necessary to respond quickly to customer requests and avoid mistakes. The first trades can bring you a small loss, but consider this as payment for the reputation of a reliable counterparty.
What are the services for the exchange of cryptocurrencies that allow you to earn
You can make money on eth to ltc exchange with the help of P2P exchangers. Or you can organize your own exchanger yourself and make money with it. Popular exchangers for earnings are listed below:
Ø Binance (P2P section);
Ø Sky Crypto.
There is another way to make money on cryptocurrency exchange services: many crypto exchangers offer an affiliate program that allows you to earn a percentage of the commission when buying / selling by invited users.