Here, I would be explaining some proven methods on how to make it big in the crypto niche
Investing- Generally, crypto products are suited to function in a buy-and-hold strategy. So investing is a long-term method of buying and hodling crypto assets for potential financial growth in there long run.
Trading- is the opposite of investing, as it deals with the short-term opportunities in the crypto space. The Crypto market is very unstable so to be successful in trading, you need to have great analytical and technical skills.
Staking and Lending- This can be explained using an average banking setting, when you keep certain amounts in a bank or lend money out, after a while, you get a certain amount of interest fee after a particular time. Staking and lending are simply owning a coin and not spending them, but locking them in a wallet or giving it out to bots for a particular time. It makes use of a proof of stake network to validate your transactions, and then give rewards.
Crypto social media- for just creating and curating content for a blockchain-based social media platform, you gain rewards in terms of their native coins on the platform.
Mining- is a vital part of the proof of work method in the crypto space, where you earn money with cryptocurrency like the original pioneers of the project. It's where the value of a cryptocurrency is generated.
Airdrops and forks- is a big marketing project to generate a target audience for a crypto project, as crypto works with the hype generated for it. So, one of the ways to create hype is to exchange an airdrop or free token for this.
No one can decide what cryptocurrencies you should have in your wallet because of their volatility, but after expertise research, but if you want my candid advice here are a few ,cryptocurrencies you should try and get, especially during a dip.
1.Bitcoin- $880 billion revenue
Ethereum- $415 billion revenue
Tether- $79 billion revenue
Binance BNB- $68 billion revenue
USDC- $53 billion revenue
Solana- $44.5 billion revenue
XRP- $40 billion revenue
Cardano- $34 billion revenue
Terra(Luna)- $37.5 billion revenue
Avalanche- $26 billion revenue
Here are some disadvantages of cryptocurrency;
Understanding cryptocurrency as a whole takes a lot of time and effort.
Cryptocurrencies are very unstable investments as there are tendencies for rising and falling.
Cryptocurrencies are yet to be proven as long-term investments for investors. They have been only around for just a decade, so no one is sure of their stance in the future.
Cryptocurrencies have issues with limitations. They tend to have capacity limitations, so cannot be transacted on a large scale.
Anyone new to the crypto space is at high risk of being vulnerable to security issues like; hacking, phishing, and entire loss of startup capital, especially without the help of a mentor; which is quite expensive to get these days.