Udemezue John
Introduction.
The idea of making money online has exploded in the last decade, and cryptocurrency has become one of the most talked-about ways to do it.
With more people exploring digital currencies like Bitcoin, Ethereum, and others, there’s a lot of curiosity about how to turn this interest into income.
This isn’t just about jumping on a trend; crypto has opened up new ways to make money that didn’t exist before.
I’ll break down some of the best ways you can earn online with crypto, explain how they work, and help you figure out what’s right for you.
Why Is Crypto a Big Deal?
Cryptocurrency is changing how we think about money. Unlike traditional currencies controlled by banks, crypto is decentralized and runs on a technology called blockchain.
This makes transactions faster, more transparent, and accessible to anyone with an internet connection.
Since the first Bitcoin was mined in 2009, the crypto market has grown massively. In 2021 alone, the global crypto market was worth over $2 trillion, with millions of people investing and trading every day.
What’s even better? You don’t need to be a tech genius or have a ton of money to start making money with crypto.
What is Crypto?
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
Cryptocurrency networks run on what we now know as blockchain technology which is a distributed ledger enforced by a disparate network of computers.
Are you new to cryptocurrencies? I wrote a comprehensive guide on investing in cryptocurrencies for beginners. Check out the link to the article below to learn more.
Why should I Invest in Crypto?
Cryptocurrencies are built on top of a trusted technology called a blockchain. The real-world value of cryptocurrency is finding reinforcement in more than just the retail and service establishments that now accept Bitcoin.
Here are some major reasons why you should invest in cryptocurrencies.
1. It’s easy to get started in Crypto.
Anyone with functional knowledge of cryptocurrencies can invest in them without having to fear.
While the technology and concept behind cryptocurrency might seem complex, perhaps even a little esoteric, the truth is that it’s very easy to explore this mode of investment.
One thing you should understand about cryptocurrencies is that there are many tokens to choose from. Do your research and learn about those that interest you.
With these considerations in mind, you need to sign up for an account with a trusted exchange forum like Coinbase, or Binance, deposit a few dollars, and start to familiarize yourself with the basic crypto landscape.
Are you new to cryptocurrencies? I wrote a comprehensive guide on investing in cryptocurrencies for beginners. Check out the link to the article below to learn more.
2. Cryptocurrencies allow you to diversify Your Portfolio.
Are you seeking brand new assets to diversify into other than stocks and real estate? Investing in crypto provides you with an asset that exists in a separate sphere from the behaviour of the traditional financial marketplace.
By adding crypto to your portfolio, you are adding an asset that, because of its global interchange and the decentralized nature of its transactions, is frequently insulated from the types of sweeping events that permeate every other part of the centralized financial market.
3. You gain a very high Return On Your Investment in crypto.
Bitcoin Started at an initial price of less than $1, and only a few people were able to acquire it, in less than a decade, those people are worth millions in Dollars.
Even if you missed out on the Bitcoin train, you still have another chance to become successful in cryptocurrencies, by investing in brand-new token assets.
This means that you have the opportunity today to prospect any number of tokens at an extremely modest cost with the potential for rapid and robust growth.
4. Cryptocurrencies offer More Transparency in Transactions
Because all cryptocurrency transactions are encrypted on a publicly distributed ledger that cannot be altered or manipulated, there are fewer likely investment risks as a result of regulatory obfuscation, internal falsification of financial data, incorrect valuations and the countless other discrepancies that cost investors billions on traditional exchanges.
5. More Places Are Accepting Digital Currency
Just a few short years ago, cryptocurrency seemed like a joke, but with education, a few lot more businesses are willing to accept it.
However, perhaps the reality that most drives home the actual value of cryptocurrency is the fact that a growing number of merchants—both online and in brick-and-mortar establishments—now accept Bitcoin and several other prominent tokens.
You can do the same at a growing number of e-commerce websites as well. Some more businesses and establishments accept cryptocurrency all the time, a fact which has attached actual, meaningful, real-world value to digital tokens.
How do I Make Money Online With Crypto?
There may be more risk in failing to seize this opportunity today. That’s because all evidence suggests blockchain technology and cryptocurrency are becoming increasingly intertwined with traditional finance.
As more businesses large and small adopt cryptocurrency, more e-commerce operations build their entire infrastructure on certain tokens, and more everyday investors add virtual tokens to their portfolios, cryptocurrency only solidifies its position in the marketplace. Do you want to make money online with Crypto? Here is how it can be done.
1. Join a crypto affiliate program.
Affiliate programs reward you for referring customers to their business. This means the more people you refer, the greater your reward. When you join a cryptocurrency affiliate program, you will most likely get paid in Bitcoin.
This method of making money is especially great for individuals who own blogs, run YouTube channels, or have some following on social media.
Instead of having to explain the same thing a dozen times, you can very easily refer those potential crypto downlines to your website, YouTube channel, or social media page for more information.
I wrote a comprehensive guide on how to start a successful affiliate marketing program. Check out the link to the article below to learn more.
2. Day-trade cryptocurrencies.
Apart from the traditional buying and holding tactics, day-trading crypto is one way to make money with cryptocurrencies.
Day trading involves several strategies such as shorting Bitcoin, leverage trading, and so on.
To minimize the risks involved, we recommend learning the fundamentals of becoming a profitable trader and how to develop a successful trade mindset.
It’s worth mentioning that there are lots of risks associated with day trading crypto. The reality nonetheless is that there are also huge profits in it.
Additionally, do not trade more than you can afford to lose. Over time, your trading skills will improve, and you’ll be able to analyze the market better.
I wrote a comprehensive guide on how to day-trade crypto. Check out the link to the article to learn more.
3. Mine Bitcoin.
The relevance of miners to the sustainability and security of any decentralized blockchain technology can not be undermined.
As compensation for their invaluable contribution to the network, miners receive ‘block rewards’ – a technical term for coin rewards.
If you’re willing to put in the efforts, monetary and otherwise, mining can help you skyrocket your profits in no time.
To mine Bitcoin (and many other cryptocurrencies) and derive benefits, you need mining rigs.
These mining rigs cost thousands of dollars, aside from the electricity bill you will incur in the process.
I wrote a comprehensive guide on how to mine cryptocurrencies successfully. Check out the link to the article to learn more.
4. Work and earn in crypto.
Do you have some high-in-demand digital skills? Now’s the time to increase your earnings because cryptocurrency companies are looking for you.
Whether you’re a content creator, digital marketer, web developer, or data analyst, there’s something in for you. You only need to be sure that you have the perfect solution for their needs.
Individuals and cryptocurrency platforms are willing to pay you to help them carry out microtasks. If you have some extra time, executing these microtasks can be a great way to earn more bitcoin.
These tasks cover a wide range of fields, including app testing, link clicking, advert viewing, surveys, watching videos, and many more. Examples of these platforms that offer these tasks are Bitcoins Rewards, Fiver and many more.
I wrote a comprehensive guide on how to become a freelancer. Check out the link to the article to learn more.
5. Stake Your Crypto.
The process of crypto staking is similar to locking your assets up in the bank and earning interest.
You can even stake crypto from some hardware wallets. The lowest risk option for staking would be to stake stablecoins.
8. Buy and Hold cryptocurrencies.
This is the most traditional way of earning money from cryptocurrencies is to buy and hold it.
Most investors buy coins such as Bitcoin, Litecoin, Ethereum, Ripple, and more and wait until their value rises.
Once their market prices rise, they sell at a profit. This investing strategy requires one to identify more stable and volatile assets that can shift in value rapidly, resulting in regular profits.
Assets such as Bitcoin and Ethereum have been known to maintain regular price fluctuations; they can, therefore, be considered a safe investment in this regard.
Also, you don’t need to buy the most expensive assets for you to make profits. Thousands of small altcoins have decent price shifts.
9. Create your cryptocurrency.
Another way to make money online with crypto is to create your own crypto. Once you created your crypto all you have to do is bring together a group of people to help promote it and push for its mainstream adoption.
You can also create your cryptocurrency by building it on an existing blockchain. For example, the Ethereum blockchain offers an easy step-by-step process that you can follow to build your cryptocurrency.
I wrote a comprehensive guide on how to create your crypto. Check out the link to the article to learn more.
10. Subscribe to an Airdrop.
A cryptocurrency airdrop is a marketing method employed by crypto startups to promote the debut of a new cryptocurrency.
Here startups offer crypto wallet holders in their platform free coins or tokens either for free or in exchange for a small promotional service.
Once such a task is carried out, you earn a chunk of their crypto which can be saved till appreciation.
11. Play-to-Earn Games
Some online games reward players with crypto. For example, Axie Infinity lets you earn tokens by playing. If you love gaming, this could be a fun way to combine a hobby with earning.
- Pros: Fun and engaging.
- Cons: Rewards can be small unless you invest a lot of time.
How to Get Started
- Research First: Learn about different cryptocurrencies and decide which ones interest you.
- Choose a Platform: Select a crypto exchange like Binance or Coinbase to buy and sell crypto.
- Secure Your Investment: Use a secure wallet (like Ledger or MetaMask) to store your crypto.
- Start Small: Invest what you can afford to lose and grow your knowledge over time.
FAQs
Is Crypto Safe?
Crypto can be risky due to its price volatility. Use trusted platforms, avoid scams, and invest only what you’re willing to lose.
How Much Money Do I Need to Start?
You can start with as little as $10 on many platforms, but the amount depends on the cryptocurrency.
Can I Lose Money?
Yes. Prices can drop, and there’s always a risk of losing your investment.
Is Crypto Legal?
Crypto is legal in most countries, but the rules vary. Check your local regulations before investing.
Final Thoughts
Making money online with crypto offers incredible opportunities, but it also comes with risks. The key is to educate yourself, start small, and stay consistent. There’s no “one-size-fits-all” method, so explore what works for you.
What’s your favourite way to earn with crypto, or is there something you’re curious to try?
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