Introduction.
Cryptocurrency is a new trend. It is regarded as the future of the world and blockchain the harbinger of the change. Cryptocurrencies have shot to fame, especially after the phenomenal rise in the value of Bitcoin. Bitcoin has grown so exponentially in its value, as well as the fame, that it can be considered as a synonym of cryptocurrency.
Imagine investing a single dollar just few years ago, and today having around 50000 US Dollars in your wallet. It seems bewildering, but it is true. We might, think that the opportunity to earn so much is past now, and only the lucky ones could have that.
No, We are still living in a golden moment. This is a game changing time, where we can make our future better and be a part of revolution. Today, we are going to share with you, 5 such ways, through which you can make money with cryptocurrency in one or the other way. These 5 ways are discussed below:
1. Make A Blog Related To Cryptocurrency
Cryptocurrency Blogging is a very profitable idea, but it per-se is going to be difficult, if not done wisely. All the cryptocurrency blogs, except few, are just 3 to 4 years old. So this is a golden oppurtunity for you to make a cryptocurrency related blog.
There is a very small percentage of population, that understands cryptocurrency completely. The rest are just trying to know about it and if you provide them information in simpler terms, then you are going to be very successful in it.
Starting a cryptocurrency related blog, is just like starting any normal blog. You will have to be diligent, dedicated and patient and give some time to understand the concept of cryptocurrency, the blockchain, the proofing algorithms etc. Once you have done that you are all set to start a cryptocurrency blog.
This is a time consuming but a secure way of earning money from cryptocurrency. It is free from any kind of Cryptocurrency volatility and here you can earn money by way of affiliate marketing, sponsored posts, paid ads and google AdSense.
Also Check: How to make a cryptocurrency blog in 2023
2. Investing And Trading In Cryptocurrency
This involves buying and holding, and buying and selling of cryptocurrencies. Investing is a long term process and trading is a short term process.
If you want to earn a huge profit through cryptocurrencies, make sure that you put some amount of your monthly income into cryptocurrency, either in its investment or in trading.
While investing your money into cryptocurrency, You will have to do a good amount of research on the basics of a cryptocurrency, its past performance , its market capitalization and its details given in its white paper etc. Remember, you will have to prepare for the volatility.
While trading in cryptocurrency, keep an eye on the best performing cryptocurrencies. Buy them, when they are at their lowest and sell them when they are at their highest, and continue the cycle.
A pro tip to minimise the effects of cryptocurrency volatality on your wallet is to diversify your trade, follow expert news and use stop loss. In addition, try buying cryptos from small yet reliable exchanges, as new cryptos first prefer launching themselves there.
3. Make Cryptocurrency Related Youtube Channel
This is a zero investment option of earning money from cryptocurrency. The YouTube channels related to cryptocurrencies are witnessing an enormous growth, as more and more people are watching videos to know about the basics of cryptocurrencies, blockchain technology, Non fungible tokens, pattern of crypto growth and ways of cryptocurrency investment.
Start reading about cryptocurrency basics and share your knowledge with the people on youtube. Inform people about the basics of cryptocurrencies, mechanism driving the cryptos, volatility in the crypto market and be their investment guide.
It will slowly turn you into a cryptocurrency influencer and enhance your face value. Soon, you will be approached by the crypto companies for sponsored posts.
By making a youtube channel on cryptocurrency, you will earn money by way of adsense, promotions, sponsored videos and also get chances of being called to conferences, launching seminars etc.
4. Become A Validator
The cryptocurrencies run on the blockchain technology, which in turn runs through the process of validation of blocks by a decentralised network of users. After successful validation, validators are paid rewards in terms of cryptocurrency.
In order to become a validator of cryptocurrencies using “proof of work” algorithm, like Bitcoin, you will have to become a miner, but it is a costly affair. The fee paid here is in terms of Bitcoins (which is a whopping amount), but at the same time It will involve buying high-end computing machines, setting up mining farms and consumption of enormous amounts of energy. So, the best option is to become a validator on blockchains running on “proof of stake” network.
In such a case, you will have to buy the cryptocurrencies first, and then put some or all of them as “stake money” to become a validator. More the amount of crypto stakes, more will be the power, you can exercise as a blockchain validator. Whenever, you will validate a legitimate block, you will earn cryptocurrencies as a reward.
5. Earn From Air Drops
You can also earn cryptocurrencies from airdrops. In cryptocurrency airdrop, new companies distribute their coins/tokens to various cryptocoin users, so as to get their attention, expand their user base and stimulate trade.
The cryptocurrency airdrops are usually in the form of “bounty’ drops, where the new crypto companies ask the users to complete some social media tasks and in turn pay them cryptocurrencies. It is a win win situation for both users as well as the company, as both get benefitted.
Other form of airdrop is where cryptocurrency companies reward you for holding their coins. You get rewarded and their establish their market base, as more the number of currency holders, more is the trust reposed by people in it.
So, these were some methods, by which you can make money from cryptocurrencies. We hope that you might have liked our article. If so, share it for the benefit of others.
FAQs on Earning Money From Cryptocurrencies
There are a lot of ways through which you can use cryptocurrencies to make money. They are 1. make a blog on cryptos, become a crypto validator, participate in crypto air drops, investment in cryptos, making and selling crypto investment courses, making a YouTube channel about cryptos.
Crypto air drop is a promotional activity performed by new companies, where in they distribute free coins to the crypto users to gain the new customers.
The answer is yes. There are many reasons why you should start a crypto blog and it being profitable is one of them. Crypto niche still has less competition and has a a very high CPC and a good scope for paid posts and affiliate marketing.