8 Simple Ways to Make Money From Crypto
How to make an extra buck on Blockchain?
The rise of the digital currencies as one of the most sizzling new investment assets has stunned many who once thought it would never have real-world value. Moreover, it has produced tremendous amounts of interest from those who had either never heard of cryptocurrency running on blockchain before or who knew almost nothing about it.
So, there are now literally endless ways for making an extra buck from this industry.
In this article, we are sharing eight of the most popular ways to make money through blockchain. Read on.
1. Consider becoming a crypto miner
Perhaps, the most obvious way to start earning from cryptocurrencies is becoming a miner. I mean, producing magic Internet money from your home computer? Is there anything better?
Still, no matter if you focus on mining Bitcoin, Etherium, or cloud mining, you should consider all the linked CONs, such as expensive mining equipment, available physical space to store it, as well as insane electricity costs, and a solid hardware configuration knowledge. Make sure you do your homework and research what is a profitable cryptocurrency to mine. My suggestion is Monero or æternity. Read more for the mining specs of AE on whattomine.com.
Risk — Fairly high
Income — Medium to High
2. Alter to a crypto trader
Trading crypto on exchanges is surely one of the fastest ways to make money with minimum efforts. Still, it is pretty risky, you’d agree.
The key aim is to buy cryptocurrency when the price is low and to sell it when the price goes high, however, there is no place for gambling when it comes to trading.
As a matter of fact, successful traders spend a considerable amount of time learning how to trade and how to avoid the risks associated with this process. Moreover, they prefer to invest time and money in precise education, since they are aiming to trade crypto for long term.
Hint: Why don’t you check out TraDEXsocial — a futuristic product, initially designed to attract the best minds in the crypto trading world and sharing their experience with anyone desiring to tune in the market.
Risk- High
Income — High
3. Become a crypto content writer
Becoming a crypto writer is another way to make money from the industry, however, it surely requires a solid knowledge on the matter and a knack for words.
Due to the ever-growing significance of the crypto, more and more information websites, as well as official pages of blockchain-based platforms, are popping up. Which means there is an increasing need for writers who can produce great content in no time.
When it comes to finding well-paid, long-term gigs, the best way is to build a content writer profile in some universal freelance marketplaces, such as Upwork. Checking out the “Careers” section in the official websites of crypto platforms also might be an option.
Risk — Low
Income — Medium
4. Exchange a relevant product or service
If you are not a natural-born writer, you can still offer a related product or service in exchange for crypto coins.
Here, we are talking about building a website, being a translator, community manager, or marketing an online product and many more.
Check out BitcoinTalk services thread for more currently available options.
Risk — Low to Medium
Income — Varies
5. Promote crypto affiliate programs
One of the most neglected approaches to make money with crypto is by enrolling in and being an advocate of multiple affiliate programs.
In essence, you promote a specific business for free but get a commission if manage to bring in paying customers.
When it comes to promoting, your creativity is your best bud! You can share it on social media channels, as well as run ad campaigns on various websites or even build a crypto blog or informational website and insert your links in the written content.
Risk — Fairly Low
Income — Medium to High
6. Loan your crypto coins for interest rate
Nowadays, lending your coins is a very popular, however extremely risky, approach to increase your crypto wealth.
Further, there are several platforms, such as SALT Lending and Nexo, which bridge borrowers who want crypto with owners who lend their coins for an interest rate.
Making up to 20% a year on your coins, doesn’t it sound lovely?
In the end, keep in mind that, since there is no actual insurance that keeps the borrower liable for the crypto loan, there are multiple situations when the lenders are left without their money.
Risk — Extremely High
Income — Medium to High
7. Sign up to crypto faucets
If you are not that keen on risking too much but you still want to make some quick buck, there are several Pay-Per-Click websites that are paying in crypto if you perform some “micro tasks”, such as watching an ad or clicking to a particular page containing ads.
However there isn’t loads of risk in this, bear in mind that you will need to sacrifice a significant amount of time in order to make good money.
As a reference, BTC4ADS pays around 100 satoshis (0.00000100 ฿) and Coinadder pays around 25 satoshis per click.
Risk — Low
Income — Low to Medium
8. Start teaching others about cryptocurrencies
Once you gain a piece of solid knowledge and valuable connections in the ongoing crypto world, you can start getting paid for teaching others about cryptocurrencies. Being timid? Well, don’t! Wondering from where to start? Here is a bunch of ideas on how to make money from teaching crypto:
- Making Youtube vlog on crypto investment strategies, how to set up a miner or any other topic. Then monetize these videos with Google’s Adsense program to make some ad revenue.
- Organizing paid evening courses
- Sharing your expertise about the industry in paid written articles
Risk — Low
Income — Medium to High
To wrap it up:
The methods of gaining profit from cryptocurrencies are now practically limitless. Still, there are many aspects to consider: are you a risky player, how much you can afford to lose, what are you good at, etc. In the end, the choice which opportunity to take is yours.
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