5 Ways to Make Money on Crypto in 2020 With and Without Investments

By Coinmatics on The Capital

Published in

Coinmatics

5 min readJan 13, 2020

Despite the fact the outstandingly high rates of 2017 are long gone, cryptocurrencies have been a perspective and profitable sphere. And legislation wise, many significant aspects of cryptocurrencies have not been regulated yet.

At the dawn of the new decade, you will hardly make a fortune on pumps of short-lived altcoins. Therefore, you’d better focus on less risky and more reliable ways of gaining money. Those ways are addressed in the article.

1. Working for a cryptocurrency project

To become an employee of a cryptocurrency project, one doesn’t have to be a professional trader. There is a steady demand for the following specialists:

Developers;
Designers;
Copywriters;
SMM specialists;
Marketing specialists;
Managers.

One should have basic cryptocurrency knowledge and, of course, good professional skills to be employed. An important advantage of the work for a cryptocurrency project is to have access to useful inside information.

2. Crypto freebies

No matter how the rules of the game change, the industry is inconceivable without airdrops, free coins, bounties, giveaways, and contests with cryptocurrency prizes. Cryptocurrency faucets are still dispensing little yet enjoyable rewards, especially for school kids and newbies.

The main thing is to remember that a freebie shall be free. The ‘invest-10-receive-20’ type of baits are most likely scams, frauds, and Ponzi schemes.

3. Creating a crypto-related media

The sources of income are quite obvious — ads, affiliate, and referral programs.

Pessimists may argue that people posting cryptocurrency ads are frequently banned, which is a policy that has been adopted on YouTube lately. However, if an opportunity is closed, another is sure to open somewhere near. So, DTube, an analog, and competitor of YouTube has been launched and is attracting finances. It is based on the blockchain Steem and pays in crypto.

Telegram channels are also a safe haven for cryptocurrency-related topics, as well as for creating bots, by the way. The promotion of a channel takes at least a few hundreds of dollars, but the spendings will be paid off.

4. Mining

“Uh, mining ain’t the same anymore. When Bitcoin was still young…” Leave this type of discourse for lazybones.

The attempts to mine using a PC in 2020 look like a joke. However, one can connect a small private mining set to a pool and enjoy a slice of the pie that Chinese and Iranian consumers of cheap electricity make a fest of. But before that, it is important to calculate your share in the pool, total initial costs, and supposed profits. It might still worth it.

Mining requires investments in the equipment. Fortunately, the prices for mining CPUs have reduced threefold comparing to the previous decade. Moreover, new cryptocurrencies with new mining technologies will allegedly be developed, which implies that the famous principle stating “first come, first serve” will come into play.

Other than mining itself, renting out the placement for miners is also possible. If you haven’t got a dilapidated candle factory, you can think of lending something else on condition that the electricity is cheap there.

5. Trading

Cryptocurrency trading is sure to be more conscious and thoughtful in 2020 than it was in the late 2010s. The main disadvantage of the way of earning is initial investments, which are quite significant.

To the delight of beginning players, many exchanges offer leverages. They are as follows:

Binance;
Bitmax;
Bitfinex;
Huobi;
Poloniex;
Bibox;
Some others.

The leverages can be very profitable for traders with decent experience and skills.

Moreover, successful traders can not only make money off cryptocurrency rate changes but also subscriptions for their signals.

The strategy prescribing beginning traders to repeat the deals after the professionals is called copy trading. By following it, the beginning traders are protected from wrong moves and increase the chances of profiting, while the professionals enjoy the benefits of being a ‘locomotive’.

Generally, various software is being developed and implemented in the field these days. The automation of the operations simplifies and speeds up trading, freeing up traders’ time and power; opens up brand-new opportunities for the non-homogeneous market.

Implementation of software reduces the effect of the human factor, making the volatile process more predictable, which is widely desired by all traders. One can make a significant profit by starting to utilize such software before it becomes mainstream.

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