13 Ways to Make Money with Cryptocurrency in 2022
It’s 2022. Many nations have seen or are seeing their pride currencies experience considerable drops in value due to global economic upheavals.
Many people thus find that their money can no longer go as far as it used to.
On the other side of the whole picture is a cryptocurrency or digital money.
Cryptocurrency is no longer new. Since the creation of Bitcoin in 2012, many new kinds of cryptocurrency have sprung up, and they all promise in their own way to solve the problems of fiat currency.
What may be new is knowledge of how to harness the potential of cryptocurrency in your business and unlock a new stream of income.
Cryptocurrency can indeed be wild, but really, nothing that involves money is 100% stable all the time.
What we’ve learned to do is to tame the wild beast and make it work out in our best interests. The same thing can be done with cryptocurrency.
Come along, and let’s examine 12 good ways to make real, freaky money with cryptocurrency.
Take note of each method, the benefits, and the risks, and sort out the best one for you.
Alright, you don’t want to miss this ride, neither do I. Let’s jump in.
1. Invest in DeFi
DeFi is a largely unregulated market so you might worry that any little mistake you make will cost you a lot of funds.
That’s true, but with the right training, you can master how to maneuver the risks involved and reduce your risk of loss.
I strongly recommend that you learn from a DeFi expert or take any DeFi courses.
2. Become a Blockchain Developer
Blockchain development is very promising. A career in it will enable you future-proof yourself as more and more companies are getting interested in it.
Right now, the crypto market is in its growth season. You can use the opportunity to learn in-demand skills that can enable you to make high returns on your coins.
Whether you want to start your own Blockchain product or work with existing establishments, there are many online courses to leverage.
Aside from the core Blockchain courses, you can also take tech interview courses like the Tech Interview Pro course by Techlead to learn how to ace your interviews with ease.
3. Freelance and Get Paid in Crypto
You might have heard of freelancing but thought it’s only for writers or graphic designers.
Thankfully, it’s not so. Many freelancers are making money from Blockchain platforms where clients patronize their services.
There are a few of such platforms such as Braintrust. One interesting thing about Braintrust is that there are no charges to withdraw your money and freelancers can contribute to its improvement. You can read a review of Braintrust here
Using a Blockchain platform for freelancing is highly recommended as they offer best-in-class security. It’s also important to join early.
That’s how many freelancers started and they have solidly established their business on these platforms.
4. Trade Bitcoin and other coins
Trading crypto coins has become a major source of income for many people.
This kind of trade is growing rapidly as it is proving its advantages over conventional forms of trade.
That’s why a lot of crypto exchanges have sprang up since you can’t trade crypto directly with your bank.
These crypto exchanges serve as the go-between.
But be selective about the crypto exchange you choose. Make sure the sale of your choice is, above all things, security conscious.
Then comes the need to have features that help you buy and sell crypto quickly and trade crypto in a variety of ways.
Of course, there are different ways to trade crypto and you should select a platform convenient for how you want to trade.
For your convenience, I have written on the best crypto exchanges. Check it out here
5. Become a Crypto Influencer
A crypto influencer builds hype for certain kinds of crypto projects among his followers thereby increasing the demand for the coin.
If you want to become a crypto influencer, you might wonder how they make money. They do so through sponsorships, protocols, affiliate deals, et cetera.
If you want to start your journey toward being a crypto influencer anytime soon, it will help to follow in the footsteps of other crypto influencers that have made it.
One of them is the famous Vitali Buterin. He is the co-founder of Ethereum and a crypto billionaire.
Among other things, you will learn that you don’t have to create your cryptocurrency. You can start small and scale up.
6. Join Affiliate Programs in the Crypto Space
Promoting crypto affiliate programs is a good thing because you don’t need to own any crypto product.
You recommend other people’s products, and when you make a sale, a certain percentage of the cost of the product enters your wallet or bank account.
There is no round-the-clock monitoring required, unlike when you are trading cryptocurrency.
You can wake up in the middle of the night to a notification on your mobile device or system that you’ve made a sale.
So, very quickly, how do you promote crypto products in an affiliate program?
You can use social media channels like Facebook and twitter. You can start a blog or a youtube channel.
That said, you need to fish out the affiliate program with friendly requirements and send them a request to join their affiliate program. Then you can start promoting it on your chosen channels.
Some of the most prominent affiliate platforms are listed below to ease your search.
7. Crypto Mining
Sure. Crypto mining has a good enough profit margin.
You need a powerful system (crypto mining runs on crazy algorithms) and money to pay gas fees to fund the process.
What people are doing these days is to join a mining pool where a group of people or a specialized firm pool their resources.
If you are contemplating mining Bitcoin, there is no better time to start than now.
This is because as Bitcoin rises in value, the mining rewards will decrease to keep the market stable.
8. Create Your Coin
Bitcoin and Ethereum may be the giants of the crypto space but that has not stopped many other coins from springing up.
Most of the popular and upcoming coins you see online are being created by individuals.
The Million Token by Techlead is just one example.
It can take a lot of money and effort to nurture your coin until it gets a high value, but the payoff is worth it.
You might be wondering where to start, but if you have advanced technical knowledge and the time and money to commit, you can choose to create your blockchain and native cryptocurrency.
Otherwise, just hire a blockchain developer to create your cryptocurrency.
9. Do Some Microtasks
Microtasks as their name suggests, are basically small tasks or activities you can perform on a crypto platform and get rewarded for.
Microtasks can earn you money without much hassle and at little or no cost to your mobile subscription.
But it would help if you were patient as you watch your earnings grow. The average microtask might reward you the equivalent of less than a dollar.
It can take weeks, months, or even years to stack up a reasonable amount.
If you are the type that likes to save money in big chunks rather than in bits, doing microtasks might not be your thing.
Or you can use it as a side hustle for your petty needs.
And, of course, you can’t be too careful when ensuring that the microtask platform is legit and will pay.
You don’t want to gather a lot of rewards after so much time and effort only to find out they don’t pay!
10. Create and Sell NFTs
Few things fetch more money in the crypto space than NFTs. They can sell like hot cakes and at very high prices.
Look at the most famous NFT of 2021, “EVERYDAYS: The First 5000 Days”, which sold for a record-breaking $69.3 million.
And if you are in for some stats, the market for NFTs was worth a staggering $41 billion in 2021 alone.
That’s almost the total value of the entire global fine art market.
That means you can attach a high price tag to your creation, and people would want to buy it because it is original.
Besides, since you are the exclusive owner of the NFT, you can decide how it is distributed or whether you’ll collect royalties for it whenever it changes hands.
If you have some time, you can dive into the world of NFTs and learn the ropes.
11. Play Crypto and Blockchain Games
During the pandemic, the gaming industry benefited greatly from the lockdowns, and according to the investigation, the trend was true of the block-chain-based gaming industry as well.
There is a lot of money in crypto gaming. In the first quarter of 2022 alone, about 128 gaming companies received investments ranging in millions of dollars each.
The ability to generate income from crypto games sets the industry apart from traditional gaming.
Because blockchain technology is involved in crypto gaming, game items and XP (experience) can be used across crypto gaming projects.
That’s something traditional gamers can only dream of for now, at least.
But that’s not all.
Whatever you acquire in a crypto game is an NFT token that is yours.
In a crypto game like Axie Infinity, for example, you can buy characters called Axies, level them up, and sell them at a higher price.
Alternatively, players can engage their Axis in fights and earn Ethereum-based crypto gaming tokens such as SLP and ALS.
Are you thinking of trying your luck at crypto gaming? You might want to try such games as Axie Infinity, Alien World, Splinterlands, Hedgies, et cetera.
The major downside is that many of the games require you to pay a certain fee (which can be huge) to sign up and play.
12. Stake Crypto Coins and Tokens
Staking is the easiest way to earn passive income from your crypto coins.
You can use staking to earn passive income without selling your coins.
It is just like putting your traditional currency in a fixed deposit account to earn interest which you can withdraw later.
In the case of crypto, you lock up your coins to help run the blockchain and maintain its security.
You get percentage yields as your reward. These interest rates are much higher than what commercial banks offer.
Staking has its own rules and protocols, just like in the fiat model.
Before you can stake any coin, you need to know that coin’s requirements.
A general rule is to go for a cryptocurrency whose blockchain operates on the Proof of Stake (PoS) consensus mechanism.
You can also use a cryptocurrency that runs on the Proof of Work (PoW) mechanism, which considers the mining process. But the former is more efficient and easier to use.
Another thing is that not all coins are created equal. Some are more profitable than others.
If you want to learn how to stake cryptocurrency, here are some of the recommended coins you can start from:
- Ethereum 2.0
13. Launch a Course
The height of becoming an expert in any branches of cryptocurrency gives you the license to launch a course to teach others.
The revenue potential of launching courses is very high, plus you don’t have to trade your time for money anymore.
Some crypto courses sell for as high as $500 or even more. If you already have an audience, this is an easy win for you.
However, if you don’t have an audience yet, you can leverage social media to spread the word about your course.
You can also pay micro-influencers to review your course and share with their audience.
For newbies, platforms like Systeme.io is all you need to enable you to create, launch, and manage your online courses effective.
That made a good ride, didn’t it? By now, you must be in the comfort of your sofa once again contemplating how to apply the hints in this article and have one more stream of income.
Whichever one it is, don’t expect to get everything perfect from the start. Instead, just start.
As you implement, the road will be opening up. It will take time, but just be patient and keep learning.