Cryptocurrency is insanely risky and amazing. As I’m writing this blog post, the market is going wild and people are surely making tons of profit.
It got me thinking how amazing it is when a new trending market emerges and the opportunities it represents to make money. For this post, I’m going to list all the ways to make money with cryptocurrency.
Some of these methods you’ll know all to well and others might be new to you. Either way, if you’re looking to make extra money either in crypto or fiat, this could be a good place to start.
Please keep in mind that I’m not going to go into lots of detail because I feel like each method deserves their own article. This is just to get the ball rolling and help you come up with a few ideas for your next venture.
Before we dive into the list, take a look at:
To make money from crypto you’ll need the following
-Knowledge: especially when it comes to investing.
-Traffic: like any other product or service that is sold online, you’ll need traffic to that offer in order to convert users into buyers or make money. This is put in very plain English, but I think you get the point. The way I see most people do it is through:
- Telegram groups: There are tons of crypto Telegram groups with thousands of users in them. One post about a project can result in insane exposure.
- Facebook groups: Same principle as with Telegram, just a different platform.
- Twitter: The bigger your following, the more exposure. Mcafee’s Twitter account remains insanely popular for crypto controversy.
- Reddit: on Reddit, it’s a bit different. Unless you’re an admin you’ll only get lots of traffic from subReddits that have tons of users or if you post something that goes viral.
- Blogging: This is another beast on its own. It’s not just a case of creating content and visitors will come. SEO, keyword research, targeting the right type of content and more goes into a successful blog. However, if done right, results can be great.
- YouTube: YouTube is a wildly popular channel for cryptocurrency enthusiasts. Channels with big followings draw in thousands of views in a matter of hours.
- Newsletters: This to me is very close to blogging, but it is possible to rent space on newsletters just as an example.
- Paid traffic: This includes Google ads, Facebook ads and more and is definitely an advanced way of generating traffic.
There are probably more ways, but these will be a good place to start with. So, now that you know that you need traffic or users, these are the methods you can choose from.
10 ways to make money with Cryptocurrency
#1 – Investing
The most basic method of making money with crypto and blockchain is through investing. The thing is that even though investing might be the first method to come to mind, it’s everything but basic. This would not be a complete list without mentioning it.
With this method you can do any of the following:
- Buy crypto, hold and sell at a later date at a higher price. This can also mean investing into an initial coin offering.
- Buy staking tokens and earn “dividends”. With staking you basically lock your tokens in (meaning you can’t sell or trade them) and earn interest because of it. Mostly that means earning more of the token you stake in the first place. Investors like to call it “passive income”.
- Set up a master node which is very similar to staking. However, in this case, you need to set up a server, own a certain amount of tokens and basically verify transactions on your server to earn tokens.
- Crypto arbitrage – at a very basic level you can buy crypto on one exchange at a certain price and sell for a higher price on another exchange.
- Day trading – need I say more?
#2 – Affiliate marketing
With affiliate marketing, you are basically promoting a specific service and getting paid a cut of income when a user does something. This could be getting paid when a user signs up to an exchange, buys ICO tokens or buys a specific product. The list is almost endless.
Binance offers a very popular affiliate program as well as Coinbase that allows users to earn $10 worth of Bitcoin for every user that signs up via their affiliate link and deposits $100.
Here’s a list of interesting cryptocurrency affiliate programs: https://makeawebsitehub.com/best-bitcoin-affiliate-programs
#3 – Sponsorships
Sponsorships go hand in hand with content creation and I personally believe that many crypto guru’s and celebrities that are active on the internet utilize it.
It basically includes being approached or approaching brands/businesses and creating content for them for some kind of fee. They can sponsor a blog post where you write a review about their token or create a YouTube video.
In order to make money with the sponsorship model, you’ll again need some kind of following, a blog with traffic or a YouTube channel with tons of subscribers.
I’ve even seen the model being used on email newsletters as well.
#4 – Display Ads
This one is very simple. If you have website traffic you can join ad networks that can help you monetize your content by placing their display ads on your website.
Google and Facebook have previously banned crypto related ads, but if I’m not mistaken, that ban has been lifted. I say this because Google AdSense is one of the most popular and simplest ad networks to use.
Be sure to check if they allow cryptocurrency related content. If not, here are some crypto specific ad networks to try out: https://www.mobidea.com/academy/crypto-advertising-networks
#5 – Crypto blogging platforms
Steemit was one of the first cryptocurrency blogging platforms where you can actually earn STEEM tokens for writing content. The better your content, the more followers you have, the better your chances for getting tips and earning money with your content.
Check out this screenshot for some of the top article featured on Steemit right now and how much each one of them is making. $500 in earnings for one blog post isn’t bad at all.
Here’s a guide to making money with Steemit: https://cryptosrus.com/make-money-on-steemit
#6 – Airdrops and bounties
I basically started this website because of airdrops. If you choose good projects and they deliver what is promised, you stand to make some extra money with airdrops. It probably won’t make you rich, but in the long term, it might bring some extraordinary returns.
Bounties and referral systems, on the other hand, can help you multiply the tokens you earn from airdrops and even possibly turn this method into a nice earner.
Learn more about bounties here: https://coinstelegram.com/2018/06/30/how-to-earn-money-in-crypto-without-investment-bounty-programs
#7 – Hosting crypto events
Now we’re moving onto the more complicated methods of making money with cryptocurrency. Hosting crypto events has become a very important part of the blockchain community.
Some of these events reportedly cost thousands of dollars to attend. If you are able to organize such events, get great speakers and market it correctly, it could be a fulltime business on its own.
It does not even have to be an international based event (one where you target a worldwide audience). It can be specific to your own city.
Take a look at all the cryptocurrency events over here: http://www.coincalendar.info
#8 – Launch an ICO & become an advisor
I’ve put both launching an ICO and becoming an advisor in one method because I feel that they are very much related. The way I see it is that you either need to be a genius or a have a track record of working with other ICO projects before you can become an advisor.
Needless to say, although I understand this method roughly, I have no personal experience. The only reference point I have a from a Telegram group I’m in where the group admin launched his own project on EOS.
He didn’t say how much he made or how many tokens of the project he now owns, but according to my estimations and the project’s whitepaper, he’s now a millionaire.
That’s if he decides to sell all of his tokens.
Here is more information about launching an ICO: https://cointelegraph.com/ico-101/how-to-launch-an-ico-a-detailed-guide
#9 – Crypto related services
This method can include lots of things, but I realized it’s potential when a newsletter I’m on talked about a new cryptocurrency exchange. Basically, this group of people will launch a brand new crypto exchange in Australia.
It sounds like an insanely complicated business, but there is big money involved. Just look at Binance and some of the other top crypto exchanges out there. These guys are making millions of dollars.
See how Binance reportedly already made $300 000 million this year alone: https://www.trustnodes.com/2018/07/06/binance-already-made-300-million-revenue-year-10-million-users
#10 – Become a developer
A blockchain project will never be successful without skilled developers writing the code. In fact, developers are essential to cryptocurrency projects. Apparently, there are tons of developers needed and very little supply right now.
If you know how to code or have an aptitude for learning how to do so, this could be an amazing job opportunity. Developers often can work remotely as well which widens your pool of potential employers to a worldwide net.
Find out more about becoming a developer here: https://blockgeeks.com/guides/blockchain-developer
I hope you now have a better idea of how to make money with cryptocurrency. The fact is that there are probably many more methods to write about and I’ll be adding to this list as time goes by.
Thanks for reading!