Let's dive into this super interesting article on how to make money with cryptocurrency.
Technology never fails to surprise us every single time and this time it has brought us cryptocurrencies. You must know about different paper currencies from different regions of the world. Still, this currency is usable by anyone from any area globally.
Cryptocurrencies are digital coins, tokens, or any digital assets you can use to trade. Their best characteristic is not having a special price since their prices frequently fluctuate due to their volatile nature.
Crypto space is a new entry in the trading industry with remarkable growth potential. They can make you a billionaire in minutes and still, on the flip side, they can make you poor in seconds.
This technology offers many methods like you can trade, lend, borrow, or even create your crypto coin with ease and make money.
All cryptocurrencies are based on the blockchain technology introduced by Satoshi Nakamoto in the Bitcoin white paper.
Blockchain technology keeps all cryptocurrencies safe and secure by making them unique and different. Having a lot of features excites me a lot about digital coins.
The crypto industry has its risks and flaws like there are possibilities of fraud, and its volatile nature is the biggest risk. But in my opinion blockchain technology is the future of finance and not only.
Furthermore, taking risks in life keeps us moving. Don't you think that way?
Can you make money with Cryptocurrency?
Yes, you can make money with Cryptocurrency. Cryptocurrency would result in a short road for you, which leads you to make a huge amount of money. All cryptocurrencies come with risks like volatility, but you can easily make it work if you know about them properly.
You can easily buy, sell or do trade with cryptocurrencies. Doing trade with crypto coins or token will increase the chances for more profit. According to the daily average volume of cryptocurrency, trade is just 1% in the international market. But don't go for that fact because being in crypto today is still early.
There are many types of crypto coins available in the market. You can easily have them to trade. And these are:
- Shiba Inu
Don't be afraid that you will only trade them on your own.
There are many platforms online, just like Binance and Coinbase etc., to assist you in this journey of earning.
How do you make money with Cryptocurrency?
Old days are gone when we have to do a lot of physical work to earn money. It was time-consuming and required a lot of physical energy to perform a task. Thanks to technology, now we are making money while putting in less effort.
Anyone can get into the cryptocurrency field to make money, but not all will end up doing that. Many people either simply give up along the way or fall into some sort of trap with the rising cases of crypto scams.
Making myself clear here, I would like to share a couple of legitimate methods for earning money using cryptocurrencies. However, we all know that it is still a growing industry, but it shows great potential for its growth.
To better understand how to make money from cryptocurrencies, I suggest reading the article.
1. Investing in Crypto
Investing in anything requires time and patience. The same is the case with investing in Crypto assets. It asks for a good strategy for long-term investment, and you are supposed to hold on to crypto assets for quite a time.
Let me tell you this clearly that investing in Crypto is an exciting journey because of its volatile nature. Still, they have the remarkable potential to provide you with great profits in the long term if you have a studied investing strategy
If you wish to invest in Cryptocurrency, I suggest you make a deal with Ethereum and Bitcoin. Both show high charts of profits, and there are good to put trust in if you are looking for a long-term and safe environment.
Crypto assets mainly work on the Buy-and-Hold strategy. Let’s learn about this strategy together.
Cryptomarket's buy-and-hold strategy involves buying any amount of Cryptocurrency or any digital asset and holding it for a long time to make a profit. Because as time passes, it will show an increase and a decrease in its worth.
This strategy works on the rule of patience; in my opinion, this strategy will test your patience and sometimes make you feel anxious about your decision. However, it will get you the jackpot if you make moves wisely and select the asset that brings you a lot of amounts.
Good and Bad stuff about Buy-and-Hold strategy:
- This strategy is cost-effective and simple to use because you don't need to keep on checking, and also it is only a one-time investment.
- It shows the reduction in risk because it competes with other Cryptos, and there will be no human errors.
- The bad thing about this strategy is that it will cause price risks. The Crypto marketplace is unstable that means there is no guarantee that your asset will remain at the same price if the price changes. It will make you loose money.
2. Trading Crypto
Trading crypto brings many benefits in a short time in this era. However, it is volatile because it shows dramatic changes in the prices. At one time, the prices are going up, and it is belike Boom! after some time. You lose money due to a decrease in value.
For successful crypto trading, you need logical thinking patterns, a lot of research, and, most importantly, an awareness of market trends to predict the right results for yourself. These things will help you earn profit regardless of the crypto market's downfall.
While doing trading, there are two options for everyone, either to take a short position or a longer one. These positions depend upon your expectations of the prices of assets. Either they will go up or down.
Let us learn together a little bit more about Crypto day trading.
How to start trading?
To start Crypto day trading, you need to have some cryptocurrency in your wallet. There are many coins in cryptocurrency like
- Stellar and others.
You need to know that these crypto coins have different market values. Choose wisely while buying anyone of them. Websites like Coinbase provide a centralized crypto exchange where you can easily buy and sell your cryptocurrencies.
Trading is similar to gambling, but there is a fine line between them known as strategy. Following a good plan according to the market and the company's demand will earn you a lot of profit in no time. Talk about some strategies to follow while doing crypto day trading.
- Pick a Coin with High Volatility: Your first concern will be selecting highly volatile coins and having high liquidity. It means that that will bring a lot of cash flow. Bitcoins are high in both volatility and liquidity. If you are interested in doing day trading with smaller cryptocurrencies, you should consider bringing higher risks. However, they are a lucrative business but remember there are dramatic rise and fall in the trading market.
- Regulating Money Flow Indicator: The next strategy uses a simple yet unique technical indicator known as the Money Flow Index. This indicator will help you understand and track down the buying and selling Crypto activity. It recommends applying the Money flow indicator on the 5 minutes chart.
- Wait for Indicator to reach 100 level: If someone is investing a big amount in Crypto day trading, then Money Flow Indicator (MFI) will show a rise to the 100 level. Please wait for it to reach the 100 level twice before deciding.
- Time to buy Crypto if MFI=100 along with Bullish Candle: We have already talked about MFI=100; now it's time to learn about the bullish candle. Seeing all the things in the chart, you need the candlestick to structure the chart. Whenever you get MFI=100, the reading must be a bullish candle to earn you a lot of profit.
- First 60 minutes profit: Lastly, it is time to hide your protective Stop Loss below the day's low. A break below the chart will signal that there will be a shift in the market prices or any reversal day, then you must know that it is the right time to take the profit out of the market.
Trading is best right when you know how to do it. Techniques and strategies will bring more profit and reduce the risks of loss.
Here are a few Crypto Trading Techniques:
- HFT: It is a Crypto Trading technique that allows you to grasp all price changes since it can show thousands of orders in fractions of a second. In general, people who follow the great speed of execution are more successful than those who are slow. Therefore, HFT is here.
- Scalping:This technique allows its users to earn a small number of profits from a large number of investments. It will typically take seconds or long hours for it.
- Range Trading:Just like its name, Range Trading allows you to set a range in which prices will fluctuate, and if the prices go up or down with analyze market charts.
3. Create Your Own Crypto, Token or ICO
Making money with Crypto is to create your own Crypto Token or ICO (Initial Coin Offering). Many people are not taking risks in this field; as a matter of fact, it is not that easy as you will start making money the minute you create your own Crypto token.
But if you master the skill of how to do it, nobody will earn more than you. Before creating your token, the most important is to define your future goal. Let's dig in to find out about it.
- Things to consider while creating your token: There are many things to keep in mind while creating your own Crypto token. I guarantee that it will bring huge revenue if you make smart moves and select the right niche for your Crypto token.
- Define your Goal: Making your token is not an easy job it requires a lot of time, energy, and patience, so you need to set your goal for what you want. I will suggest you go on that road which leads to your interest. In this way, you will take full advantage while monetizing your token because you will be aware of its aspects.
- Look at the market trends: Besides considering your interests, try to catch up with the market where your Crypto token will survive. You should be well aware of changing trends. Catching people's attention is all you need to do with your Crypto tokens.
- Educate people about your Crypto token: Once you have made your Crypto token, you need to educate people around you about it. People are not going to buy your crypto token because you made it. Get yourself prepared for it and answer a few questions about your token that your audience will probably ask you. It will help you increase the demand for your Crypto token.
- Picking a Blockchain Platform: Each Crypto coin has a unique blockchain that ensures its security. Picking a good and reliable platform for your Crypto token will keep you in peace. Many blockchain platforms like Ethereum, IBM Blockchain, BigChain, CoinList, etc.
What is ICO:
ICO is short for Initial Coin Offerings. Just like traditional businesses give rise to the capital with different techniques, we use ICO in Crypto to raise the capital of our company.
A new company or any company in the Crypto market will launch an ICO to gather funds. Eventually, the host company can use these funds in the blockchain environment to create a new coin, app, or service.
If you are interested in investing in ICO, some companies offer ICO as stocks. Remember the important thing that sometimes ICO brings you a lot of revenue, but on the flip side, it will be just a loss, fraud or scam.
There are many mixed reviews about doing trading with ICO. Still, in my personal opinion, they are good for giving rise to your business capital. However, you need to be very careful and lucky at the same time while investing in ICO.
Mining is considered a pioneering method of making money from cryptocurrencies. In simple words, mining in the crypto world is a process comprised of mathematical operations known as hashing over & over until you get the hash value.
A hash is the main key in cryptocurrency mining. Hash is like any ID number for a particular data set. A slight change in the data will get you a completely different hash.
On the flip side, the other key of crypto mining is finding a hash. Finding a hash is tough, but checking it is completely simple and easy.
Cryptocurrency mining works on the mechanism of Proof of work. This mechanism makes sure to agree all the independent computers on one thing that is something true which is important in Crypto mining for making money.
How to start Crypto Mining?
Everyone can start making money with crypto mining. All you need to have are three things:
- Swift internet speed
While doing crypto mining, you need to have a great computer to do all the work done because blockchain files run on computers having quality components.
Your mining computer must have heavy-duty Ram, Motherboard, CPU and storage. Graphic card is also an essential part of it. How can we forget about GPU because GPU will accelerate the mining? You may need more than two GPUs for mining.
You can easily connect multiple graphic cards with your computer used for mining. Still, it must have a great motherboard to support it properly. These Crypto mining computers are also known as ‘Mining rigs'.
The best software for doing Crypto mining depends on the coin you plan to mine with. Each blockchain has its protocol and tends to have specific software, also known as hashing algorithm on which the miner runs.
So, it would be best to do a little research about it when you are going for some specific coin for mining.
Last but not least, here comes the most important part to consider. All your efforts will be vain if you don't have a good internet connection. All the blockchain processes require a good internet connection to perform Crypto mining at its best so, you better have it.
Various Methods of doing Crypto Mining:
Cryptocurrency mining can complete in more than one way. Are you curious too? Let's find it out together:
- GPU Mining: This method of Crypto mining increases the computational power as more than two GPUs are working in your mining rig. A cool system and a durable motherboard are essential for doing GPU mining.
- ASIC Mining: Mining with an ASIC is a method specifically designed for mining cryptocurrencies. Compared to the GPU mining method, ASIC mining generates more cryptocurrency units. The only disadvantage is that it is expensive and quickly outdated, eventually increasing mining difficulties. It is used for bitcoin mining
- Cloud Mining: The most popular method of crypto mining is known as Cloud mining. Being an individual miner, you will get an opportunity to have control over the power of dedicating crypto mining facilities and major corporations using the cloud mining method.
Here comes a unique and reliable way of doing Crypto mining. Mining pools allow a couple of the miners to combine their computational resources for doing better Crypto mining. In this way, they have quality resources for finding and mining on the blockchain.
Those who join forces and combine their components for pool mining share the rewards if the pool is successful. It is way better because pools upgrade and have technical support to guard any difficulty.
Staking is a unique method to make money with cryptocurrencies. Staking provides a way for many cryptocurrencies to verify their transactions. Moreover, people will earn rewards on their holdings with staking.
Staking works with only those cryptocurrencies which use the proof-of-stake model and is energy efficient. Every Cryptocurrency offers different interest rates on their transactions, and some of them provide higher rates with staking.
Staking would be a great choice for earning some extra bucks because it can double the earnings depending upon the price appreciation of different coins.
How Staking Works?
It would help if you had a live wallet to put all your crypto coins in while staking. Staking encourages crypto coins that supports the proof-to-stake model and add new transactions to the blockchain. Many people pledge their currencies to the cryptocurrency protocol.
The protocol selects validators to confirm transactions blocks from the people who pledge the coins. If you wish to be chosen by protocol, you must engage as many coins as possible.
The rewards that stakeholders receive come from new blocks added to the blockchain, which, in turn, create new cryptocurrency coins. All your coins in your digital crypto wallet are your complete possession. You only have to put them to work to gain passive income.
Here you can calculate how much you can earn by staking a specific cryptocurrency here: Crypto Staking Calculator
You are free to take out your coins anytime you want. There are no restrictions, but few cryptocurrencies require a little time before their withdrawal.
Why should we choose Staking?
- There is no need to use any physical equipment for crypto Staking like Mining.
- You will be contributing to the security and accelerating the efficiency of the blockchain.
- As compared to crypto mining, crypto staking is more environmentally friendly.
- Staking is an incredible way to support the blockchain of your Cryptocurrency in which you invested because you need Staking to do the transactions to keep the track smooth and hurdle free.
- Just like your credit card, you can earn some interest on your cryptocurrency coins holding.
Risks to consider for Crypto Staking:
- As we all know, all Cryptocurrencies are unstable, so if your Staked assets will face a large downfall, there is no need to worry. All the interest you had earned on that asset will compensate your loss.
- While doing Crypto Staking, you need to lock up your coins for a specific period, which refrains you from selling them.
- While taking Coins out of Staking, you must wait for seven days or longer, depending upon the nature of your Cryptocurrency.
Here is the best method used in the Crypto market to make money. Just the way we lend people money and take common interests, Lending works in the same way.
It is a form of decentralized finance in which you lend cryptocurrency to borrowers.
In exchange for that, you will get interested what is typically known as ‘Crypto dividends'.
In Lending, you lend your Crypto defi coins to various platforms and earn a particular amount of interest hustle free. Interest rates vary from currency to coin and rise and fall in their prices.
How does Lending Works?
Crypto Lending works typically involve three parties. First of them are those who are willing to lend Crypto for the boost up of interest from their coins. The second second-party is the platform that will select and regular a borrower who will take Cryptocurrency from the lender. Lastly, the third party is the borrower, typically businesses or people looking for funds for their business.
Crypto Lending works in the following steps:
- First of all, the borrower goes to a Crypto lending platform and request a crypto loan.
- Following approval of the loan request, the borrower stakes the crypto deposit. The deposit will remain on the platform until the borrower returns the entire loan.
- All the lenders automatically fund the loans without knowing where they are using the platform.
- All the investors will receive interest timely as payments.
- When the borrower pays off all loans ill, he will get the crypto deposit back according to his wish.
Crypto Lending Rates:
The crypto lending rates vary from platform to platform, depending on market rates and trends. Each one of them offers different rates for different currencies.
As I have mentioned earlier, it depends on the rise and fall of Cryptocurrencies in the market because of their unstable nature. You can research online for many platforms offering Crypto Lending and choose the best for yourself. You can earn less than 3% and high as 7%. You can also make up to 17% interest on your Cryptocurrency, but this is only a vague assumption. It would be best if you did your research.
7. Yield Farming
Yield farming allows you to earn while blocking your cryptos. In simple words, we can say that it is similar to staking with a few complicated strings attached, just like LP (liquidity pool). LP mostly funds the liquidity pool when needed.
So liquidity pools are like smart contracts in yield framing containing funds. Liquidity providers, LP, get some reward when they provide liquidity to a pool. You can lend your cryptocurrency and be an LP because, in yield farming, we lend cryptocurrency to earn money just like we do it in the bank.
In search of the high yields, yield framers typically move their funds rapidly between different protocols.
How does Yield Framing work?
Yield framing is also known as liquid farming because of its high expected rates. It allows investors to lend money to protocol by depositing them through a decentralized app.
Eventually, borrowers go directly to the respective app, borrow the crypto coins, and join the marketplace to earn profit.
Borrowers can take crypto coins from apps based on blockchain. These apps offer profit if the user agrees to provide liquidity by locking up their coins. This process is similar to staking.
Investors who lock down their coins in yield farming earn interest every time their coins or tokens are redeemed. If the price of the coins faces a downfall, the price will be compensated with the interest money.
Is Yield Farming safe?
Yield framing will be a good option if you plan to invest in it. Still, this method of earning money with Cryptocurrency also brings risks.
Some of them are listed below:
- Volatility: Volatility refers to instability or drastic changes in the prices of crypto coins and tokens. Nobody will give you a 100% guarantee that you will be gain a lot of profits through it. Your crypto coin's prices crash or rise while locked up in yield framing.
- Fraud: You have to remain alert while investing your money in yield framing. There are some chances that your Cryptocurrency will be involved in some fraudulent project without your consent.
- Rug pulls: This risk refers to a situation where a cryptocurrency developer collects all of your crypto funds for a particular project, which seems good to you. Right after taking your funds, he smoothly abandons you from the project. It also has no intentions to return the investor's funds.
- Smart contract risk: You must know about the bugs before aggreging to a smart contract. Many people place bugs in the smart contracts, which lead to hacking and fraud, ultimately putting your Cryptocurrency at risk.
Cryptocurrency is getting popular day by day. We are shocked and excited at the same time about it, and NFT, also known as Non-Fungible Tokens, will be our future of trading. NFTs are data added to any file to create a unique signature.
NFTs can be any song, photo, painting, tweet, gaming character, JPG file or anything. The NFTs are unique and they are end-to-end encrypted. Most importantly, they are associated in the blockchain only with one personal public key.
People are trading conveniently through NFTs and are making quite a lot of cash through it.
How do NFT works?
You can own NFTs, but they are intangible. NFTs are digital tokens or objects; you can own them, but intangible. NFTs can be digital assets like gaming characters or representatives of non-digital assets like your car's legal papers or any of your paintings.
NFTs are coded on the Ethereum blockchain, and all of them hold a unique identity. So, there is no need to worry about their security because they can have only one owner at a time.
Individuals have to validate information to create a new blockchain for mint NFT. Ultimately, all its data is added to the blockchain to transfer it to its new owner.
Create Your NFTs:
Is there any new music tune you have recently created and want to sell? Sell it as an NFT to earn some extra bucks through your talent. You can create your unique kind of NFTs and sell them online easily.
Please don't limit your earnings to intangible objects; it's time to earn through your comfort zone with your favorite hobby. You can turn your hobby of painting, logo designing, meme-making, gaming, and many others into a source of passive earnings.
Many websites link with a crypto marketplace that is always ready to assist you in this journey.
Tips to Earn through NFTs:
Investing in NFT gaming items or characters would be the best option for you if you are a crazy gaming fan. It will not only boost up your gamming but will get you a handful of cash.
NFTs also have rises and falls. Some days they have high worth and trending, and on the other side, they have low cost. The trick to success is that when your NFT is flying high in the market, sell it to gain profit.
All NFTs are not highly worth it. Few nft projects are millions of worthwhile few of them are useless and completely worthless. You need to do some research before going to invest in NFTs.
Impact of NFTs on Environment:
There is a rise in the number of carbon footprints associated with Cryptocurrency. Ethereum blockchain is making digital assets more secure, which requires a lot of energy.
NFTs one way ensures secure trading but, on the other side, is bringing negative climatic impacts. The developers of Ethereum are working hard to make the cryptocurrency more sustainable so that the environment suffers less while doing digital trading so for example Ethreum are going to use Proof-of-Stake instead of proof-of-work technology
Airdrop is the legal way to have some crypto without actually buying it. It is like a marketing strategy to encourage the audience to use a particular crypto platform.
The platform or project owners may reward you with some crypto, like Airdropping you in a Crypto wallet to promote their brand.
No matter the reason behind Airdrop, all the investors will always be rewarded with some cryptocurrency coins by the host, usually free or for small favors.
Different types of Airdrops:
There are four different types of Airdrops:
- Standard Airdrop: This type of Airdrop aims to promote the brands and some new coins to make people buy them. Moreover, standard Airdrop usually transfers a particular amount of native coins or tokens into an existing wallet just as a marketing strategy.
- Bounty Airdrop: Bounty airdrop is not a free marketing strategy. To receive digital assets as rewards, the recipients have to promote the brand potentially.
- Exclusive Airdrop: This type of Airdrop works uniquely. Exclusive Airdrop tends to transfer coins to only those who follow a specific third party website. Those websites usually share news about their upcoming airdrop events and new crypto events.
- Holder Airdrop: Those who already own cryptocurrency have access to the holder airdrop. They will receive extra coins or tokens by justifying the coins in their wallet.
- Easy and simple.
- Free coins and tokens.
- Helps in making diversely portfolio.
- Not all airdrops are free.
- Risks of prices of coins going down.
- Risk of giving sensitive info to the fraudulent platforms
A decentralized Autonomous Organization (DAO) is the best way to make money using Cryptocurrency. DAO is like an internet community having a shared bank account. Many people fund from over the globe to support one person's startup.
‘Decentralized' means no proper authority, just like the banking system. ‘Autonomous' points to the freedom to govern oneself. ‘Organization' refers to the group of people sharing the same motive.
Like Cryptocurrency, DAO is set up on blockchain and is completely on the internet. As people in the form of organizations from different parts of the world, they can easily send money from anywhere in the world.
Blockchain in DAO ensures transparency and shows all its users the money transfers without any scam. In simple words, you will know where your money is going. DAOs can be of various types like charity, a venture fund or any startup.
How do DAO works?
Researching how DAO works came to my knowledge that it works through smart contracts. These smart contracts are like agreements or forms of self-executing code between all the group members.
To become a member of DAO, you need to buy some crypto tokens, which eventually gives you voting and other decision-making rights. Like where to invest money and where to not.
If you are planning for a startup, DAO will surely help you find a couple of investors willing to provide funds for your startup after viewing your proposal. DAO is a completely lucrative option. For the security of your business, you need to design your smart contract with special clauses.
Furthermore, the DAO group decision is the only good decision for everyone. No one is the controller of a particular company.
How does a DAO make money?
People make money with DAO in the form of dividends from their investments. Those who come up with startup ideas, those who fund them, and the person who starts the DAO will benefit from this process.
DAO faced a downfall back in 2016. Thanks to NFTs and rising cryptocurrency trends, DAO is again getting popularity in the modern days.
According to my, DAO is the best option to consider if you dream of starting your own business. There will be fewer mistakes because a community of people worldwide will assist you in your business. Do you never know who will get you expert business advice?
11. Crypto Arbitrage
Crypto Arbitrage is another way to earn some extra bucks involving cryptocurrency. In simple words, people buy crypto coins from one website at lower rates and then immediately sell them on another website to gain profit.
It is important to remember that crypto arbitrage will generate high liquidity with cryptocurrencies. Still, on the flip side, little exchange of coins or tokens will bring not much profit to you.
It is not wrong to say that crypto arbitrage is a strategy that allows investors to stay alert and immediately seize the moment to gain profit.
Types of Crypto Arbitrage in 2022:
There are different types of crypto arbitrage:
- Spatial Arbitrage: The simplest way to arbitrage crypto is spatial arbitrage. This type involves trading between two different crypto exchanges with the help of cryptocurrencies. While spatial arbitrage can earn you some cryptocurrency, it exposes you to transfer times and cost risks.
- Triangular Arbitrage: Just like a triangle, this type of Arbitrage works the same. Investors can use this strategy by buying one cryptocurrency then trading it for another. After the first trade, investors will trade the second Cryptocurrency with the third Cryptocurrency, whose value is upward compared to the first trade. In this way, the circuit is completed with extra bucks. This strategy benefits investors as they will profit from undervalued Cryptocurrency.
- Spatial Arbitrage Without Transferring: Many investors use this type to avoid the risks of transfer costs and time that is a flaw of spatial Arbitrage. In simple words, investors go on long Bitcoin on one exchange and short bitcoin on the exchange on another. Then investors wait till the prices on the two cryptocurrency exchanges come together.
The service enables investors to transfer tokens and coins between two platforms. Moreover, the trading fee is still applicable.
How to find Crypto Arbitrage:
Crypto digital assets do not all follow the same pattern. Therefore, there are two methods to find Crypto Arbitrage:
- Method 1: New Software: The first method to find crypto arbitrage is to use different software. There are a lot of different cryptocurrencies on so many exchanges in the digital market. However, the software will make it easy for you. Many companies online are always on standby to help you automate crypto arbitrage with all their quality tools. You just have to choose one that is offering great deals for you.
- Method 2: Less Popular Cryptocurrencies: In this method, investors will find the cryptocurrency digital assets with higher prices amongst the less-popular and less traded forms of crypto. Cryptocurrencies have less popularity, making them susceptible to rapid price fluctuations. This type of instability may be good or bad news, but on the other side, it will be a risk upgrade to an arbitrage strategy.
What Are the Dangers of Crypto Arbitrage?
Where Crypto Arbitrage is offering many advantages, it has its bad stuff too. Having a complete understanding of them will keep you from taking any step towards your downfall. Dig in to know about them.
- Losses: To reduce the losses, an investor must not increase the purchase prices or decrease the selling prices of crypto coins.
- Volume: Low volume will surely make the trade, but it will take forever to seize the moment.
- Risk of hacks: Crypto tokens and coins are not properly regulated, which will lead to incidents like scams, fraud or even hacking your Cryptos.
- Transaction fee: All the transactions are not free, so you better check the transaction fee beforehand.
12. Work for Cryptocurrencies Companies
In my opinion, the best way to make money online from cryptocurrency is to work for one of the crypto companies. In this way, you will learn about the basic roots of the crypto world.
Working for a crypto company will help you stay on top of changing crypto market trends. You only need proper skills to be a part of the crypto company.
Working for crypto is quite a fulfilling job, and believe me, it is exciting too. Many crypto companies are offering a wide range of facilities for their workers. Moreover, they have a great salary package for their workers.
What type of skills are required:
To work for a crypto company, you need to offer your skills and prove in front of them that you will be able to solve problems effectively and efficiently. You need to have a couple of skills to be a part of a crypto company.
Here are a few of them:
- Digital Marketing.
- Web Designing.
- Content create.
- Understanding of blockchain.
- Data analyst.
- Financial analyst.
Once you master any of these skills, you are free to earn as much as possible in the crypto world.
Platforms offering crypto jobs:
Here I have gathered the information for your convenience and made a list of those companies who will provide you with digital assets when you give them your services:
These companies will all make payments using cryptos. The market trends will double your payment. You should try it.
13. Create Crypto Content
Creating positive content about crypto will be a source of passive income for you. From the last decade, it has been seen that content creation is the best way to communicate.
While launching any new brand, we all need some audience. Because without an audience, it will be a failure. For that purpose, you go for the ones (Content Creators) that are good at doing it. Crypto companies give a decent amount of cash or digital assets in return for their digital marketing.
Different social media platforms have given us some celebrities, and people love and follow their content. You can be one of them to make money from cryptocurrency.
Selecting a Platform:
Before making content about Cryptocurrency, you need to know about your interest to make your things go in a better way. Defining your goal and interests will be very helpful for you.
- If you love making videos, then YouTube will be the best option for you. You will be able to make dynamic videos about Cryptos. Besides telling about your reviews about crypto, you can also add other people's reviews.
- An interesting platform to writing about blockchain and crypto is Mirror.xyz which gives you free tokens for write content.
- If you love talking to people about different topics, you can go for podcasts that will cover things from the crypto world. A detailed discussion about the crypto world will help people understand more clearly about Cryptocurrency.
- Content creation on Instagram is also the best option. You need to put stories about cryptocurrencies and make posts about them to make people have a better understanding of them.
- Writing a blog post is also an effective way to communicate with an audience. In this way, people will see the crypto world through your eyes. It will help them clear all their doubts about crypto.
You can also purchase Crypto tokens or coins to show people your honest reviews about them.
Approaching the crypto companies:
Here comes the best part. After you are willing to create content about cryptos, you have two options:
- Option 1: You have an option to make videos or write articles about them and post them on your platform. This way, the crypto company will approach you considering your creative skills and ask you to post more content about them. They will make an offer according to the number of your followers.
- Option 2: On the other side, first, you make crypto content and propose it. You can directly send the proposal to the company through the mail and tell them about your interest in crypto.
If you are lucky, they would ask you for a proper job as their content creator or make offers to pay you for different content creation.
14. Crypto Faucets
Crypto Faucets is an old and unpopular way of making cash from Cryptocurrency. Many people used this method to earn money when the crypto world came. Faucets in crypto is a way of rewarding people in exchange for the tasks they perform.
In crypto, faucets are like running water, but coins and tokens replace the water. Faucets in crypto mostly pay their users to perform simple tasks like viewing an ad or captcha tasks.
From 2019 onwards, crypto faucets are drastically decreasing their value due to launching many other ways of making money from Cryptocurrency. Many websites offer crypto faucets if you want to give them a shot.
How do Crypto Faucets works?
As discussed earlier, cryptocurrency faucets work mainly on assigning different yet small established tasks to their users. Each task has a fixed reward, and faucet websites can set a time limit for users within which they must claim their rewards.
Users ask to register on the website first with their details before performing any task. Users receive rewards directly into their micro wallets upon completing a task.
Micro wallets hold micro cryptocurrencies. These micro wallets are automatically created for each user when they register on the website.
The rewards are moved to the main wallet of the user as soon as the micro wallet reaches its limit; in other words, it is filled.
Platforms entertaining Crypto Faucets:
Earning Faucets does not require exhaustive research or technical planning; all you need is to perform small tasks to earn rewards.
There are many websites to register yourself and start earning Cryptocurrency easily while performing little and easy tasks. Here is a list of them below:
- Allcoins. pw
Crypto Faucet: Passive Income, Or Waste Of Time?
As crypto faucets involve users' participation while opening the platform and performing the task, in return earning rewards. You can say that it is a source of passive income, but I think for those who have a lot of patience.
The income rate is very little, so it requires a lot of time to collect money if you intend to pay your utility bills this month. It is a good option as some extra pocket money but a complete no if you are looking at it as a source of passive income.
People have left using it because it is worth only a few pennies from the start. Just like Bitcoin, in the early faucet, was rewarded 5 BTC, which was only a few pennies. Still, now it is worth almost a quarter a million dollars.
It is not good to say that it is a waste of time because you never know when their worth will touch the sky. I don't think you want to miss this opportunity. Do you?
15. Play-To-Earn Games
I used to want to own the King's castle in my video game like a real boss, and guess what? Now I own an in-game castle worth a thousand dollars and living my childhood dream.
Thanks to Play-to-earn games which allows its users to purchase and sell in-game items like characters, gems, weapons, and many other in-game things through NFTs.
Crypto has changed traditional gaming by transferring games on blockchain technology, making them NFT games. NFT games are our future. Now earn while playing the game you love.
Few play-to-earn games are mentioned below for your instance.
- Axie Infinity
- The SandBox 3D
For more please read our article:15 Best NFT Games for 2022 (Ranked)
Pros and Cons of Crypto:
Cryptocurrencies have taken over the digital market in the past few years and brought us incredible trading patterns. Crypto have their bright and dark sides, just like any other product. Here are a few of them:
- There are no physical barriers in the world of cryptocurrencies. You can buy, sell and trade with cryptocurrencies from any part of the world.
- Now there is no need to wait for a couple of days to do international transactions because, in Cryptocurrency, there are no longer waiting hours.
- While Doing trading with Cryptocurrency, don't be afraid about leakage of your personal information.
- They use blockchain technology, so they are secure and safe to use.
- There are high risks of downfall in the price of your selected crypto coin because of its unstable nature.
- There is a risk that some scam sites may be able to access your personal information to steal your digital crypto assets.
- Not all cryptocurrencies have the same worth and differ in prices every passing hour.
- All cryptocurrencies use blockchain technology, but they lack regulation by authorities, which increases the risk of fraud and hacking.
Now it's time to wrap up this guide. Cryptocurrencies are making a prominent position from the last decade in our environment. And there is no need to say that it is the future of our finance. I have tried very hard to gather all the related and helpful information about Cryptocurrency in this guide.
Like many other things, Cryptocurrency does come with its flaws. Currently, this currency is not properly regulated, which increases the risk of fraud and scams. It is completely volatile, and you never know when it will rise or fall. It is a luck game with the hint of research and technical thing.
If the little flaws of Cryptocurrency is not a show stopper for you, then I recommend you to give it a try. Nobody knows if they would be a millionaire overnight. I suggest you give it a shot.
Want to Learn More?
Check the guides below to learn about making money online: