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There are MANY ways to make money. As a good way to start, I recommend getting your Scanner fully upgraded and scan plants and animals.
Pretty much anything you can collect or build can be sold. At some point, work on a base. There are a lot of steps, but once you get what you need you can farm. Farming is a good passive way to gain credits while you are out doing other things to earn credits. Once you reach a certain level in farming, you can create things that sell for millions of credits. Having a base also gives you a safe place to putter about and think about next steps.
Nanites are always good to collect and probably the most useful currency in the game. You can take some of the easier missions from the space station to gain nanites and things that can be sold. As noted, upgrading your tool and suit are done via nanites and will help you gain credits and stay alive.
Don't get too hung up on the classes (C, B, A ,S). A fully decked out C class ship with C class upgrades can hold up well in most situations. As time goes on, you will desire upgraded everything, but the basics will get the job done until you progress to ways to earn credits easier.
The biggest challenge is inventory management when you first start out. Drop boxes are a relatively cheap way to upgrade your suit slots. You can buy slots at the station, but it will seem pretty spendy when you are starting out.
I fully upgraded a long time ago, so I am not sure of all the ways.
At Space stations, buy the upgrades from the vendors on the same side you exit your ship, Pay with Nanites.
Get Nanites by Scanning animals and plants and uploading the scans from the Discoveries page (i think). Keyboeard 'P" > Discoveries.
Other ways to get Nanites but this is a simple way
If you find tetra cobalt, don't sell it, but expand it to ionised cobalt (1:150 ratio). This is worth more than the tetra cobalt.
Do missions that give money
Improve your scanner, and scan stuff (I make 70k per flora, 100-450k per fauna (still just 200 per mineral though))
I have bought the game a week ago and went through like 40 youtube videos and guides on how to make money, yet, most of them doesn't work anymore. The "fuel strategy" is nerfed as the traders do not offer Di-H jelly anymore and multiplicating it is tedious, farming is not as profitable as it used to be because of reduced prizes and growth time, trading is still very good but it got nerfed as well, especially the commodity generation rate, etc. Most of the videos and guides are for NEXT update, not VISIONS.
For the Visions update I think most profitable are fleet missions and trading, but for both you need initial investment. For missions you need 5 decent frigates (10M), for trading you need decent (large inventory) upgraded (hyperdrive range) ship (10M) and some initial cash (10M).
It is also true that once you have all the stuff, the money is worthless, but you still need about 250M for S class Freighter, Frigates, Tool and Starship or two.
So. Where is one to start then?
At the beginning, I would suggest what others are saying. Very profitable are missions, the upgrade for multi-tool for scanning costs like 1200 nanites (for 3x S tier), so you can get it early, the trick is to find the vendor who sells it. Buried tech is a very easy way of earning money. Rare resources (yellow mark on visor) are also very good. I would say "just play the game".
The problem is that you won't earn much this way. It will certainly set you up, but when you want to save for the big stuff (Freighters are up to 400M, S class ship around 50-60M), you need something more.
I could say something else describing exactly what to do to accelerate things, but why should I go parrot and repeat all this...Go look in the Search if really you are interested.
Seems that your suggestion is not strict accurate, because farming is still profitable.
'Know how' in my guide - but u need to translate it by self.