How to make money by investing in cryptocurrrencies?

1. Choose an Exchange: First and foremost, choose a reliable exchange to buy and sell cryptocurrencies.

2. Research Different Cryptocurrencies: Take some time to read about different types of cryptocurrencies and understand their features. Consider the current market cap, trading volume, price movements and other factors before investing in any coins.

3. Start Investing: Once you have decided which coins to invest in, transfer funds from your bank account (or other funding source) to the cryptocurrency exchange. Buy the amount of coins you want and store them in an online wallet or even on paper wallets.

4. Set Up a Trading Strategy: It’s important to set up a trading strategy, which will help you manage your entry and exit points. If you are new to trading, it’s advisable to use a simple trading strategy with clear risk/reward parameters.

5. Diversify Your Portfolio: Don’t put all your eggs in one basket – diversify your portfolio by investing in various different coins, so you don’t suffer major losses if one of them tanks in value.

6. Monitor the Market and Prices: Keep track of the market trends and the prices of your chosen coins. Consider using automated services (like bots) for keeping tabs on the markets and for setting trading rules.

7. Cash Out: When the time is right, cash out and take profits by exchanging them back into fiat currency.