Cryptocurrency may be the hottest investment trend right now, but many people are still unaware of how it works and how to earn from it.
This guide will show you that anyone can make money from crypto passively, regardless of experience level or technical knowledge. These top 10 ways to make money with crypto will help you start earning within days of reading this article.
1) Trading on Exchanges
Trading on exchanges is one of the most popular and potentially profitable ways to utilize your crypto holdings. There are a lot of trading strategies out there, but in general, you buy low and sell high. It’s not hard but definitely takes practice. Trading fees can add up—so keep them in mind when making trades. If you don’t have experience trading cryptocurrencies and would like to learn how before diving into it headfirst, check out our guide How To Trade Cryptocurrency Without Any Experience for insight on best practices!
Staking is a different way of making money from your crypto holdings. The idea is that you simply hold onto some of your coins and they start earning more for you over time, without you doing anything at all! It’s an appealing option if trading isn’t your thing or if you want to make passive income in crypto, but keep in mind that staking only works with certain types of cryptocurrencies. If you want to take advantage of staking in order to make money on your crypto holdings, learn how it works and read up on our best cryptocurrency staking strategies!
2) Investing in ICOs
ICOs (initial coin offerings) are a good way to invest in early-stage crypto projects. However, be careful about which ICOs you decide to get involved in. There have been numerous scams and scam coins in recent years, so proceed with caution. And of course, make sure you’re being responsible and don’t overinvest your savings—invest only what you can afford to lose.
3) Becoming an Affiliate Marketer
Affiliate marketing is one of my favourite methods for generating extra income on my websites. If you’re new to affiliate marketing, I’d suggest starting slow and doing your research first. My top recommendation is Wealthy Affiliate which offers free training and tools (plus it doesn’t cost anything either). If you want a step-by-step approach, check out my guide on how to make money blogging, which goes into detail on everything from getting started as an affiliate marketer, to finding products and tracking your results. Like any business venture, it takes time to grow, but in time it can be highly profitable!
If you’re just entering into crypto or have some extra time on your hands, it might be worth mining for free. Using your computer or graphics card, you can help add transaction records to public ledgers and receive a stake in newly-created cryptocurrency in return. This is called mining, and it can provide you with a good deal of passive income—money that regularly comes in without much effort on your part—if you are willing to invest upfront. To make money from crypto mining, though, you need a pretty powerful rig set up for maximum efficiency.
5) Writing Articles
Writing is one of my favourite passive income strategies. If you have a knack for good copy, you can get paid decent money writing online. One of my favourite freelance sites is Digital Freelancer. Another great site I use is Textbroker. (Both are affiliate links) Writing About Cryptocurrency: It’s not too late to catch up on all things crypto and even start cashing in on some next-level financial opportunities.
6) Translating Documents
If you’re bilingual (or even if you’re not), there are plenty of opportunities for freelancers in many niches. For example, if you speak Mandarin and English, you can sign up on a site like Lionbridge. You get work translating documents from one language into another. Earnings vary depending on how long it takes, but they have projects that pay anywhere from $250 to $750.
7) Tutoring Online
If you’re good at math, physics, or another subject that lends itself well to teaching, you can tutor people in your downtime. You set your own hours and schedule and get paid directly for your time. Tutoring is a great way to earn some extra cash for part-time work if you need a little bit of extra money. If done right, tutoring can also be a great way to gain experience doing something you love while helping someone else learn. Use social media advertising (like Facebook or Twitter) before it gets too cold outside by starting off slow and adding more ads over time as other businesses pick up their marketing efforts.
8) Smartphone Apps
We’re living in a mobile-first world where, according to Statista, people spend over 4 hours on their smartphones each day. That means we’re constantly using apps. If you have an idea for a great app or know how to create one, you can make passive income by developing it and then getting it into popular app stores like Google Play or iTunes. This will take some doing and cost you money upfront if you pay someone to help program your app; however, it’s potentially lucrative as long as you manage your budget and marketing of your app correctly.
9) Leasing Your PC
Running a master node can be costly, so it’s important to consider how much income you’ll need to run one. As an example, imagine if you purchased 1,000 Dash at $100 per coin and then wanted to run a master node that yielded 8% monthly returns. At today’s price of about $390 per Dash coin, your initial investment would be worth roughly $5,700. If you are receiving around 8% returns per month on your staking rewards, that means each month you’re earning enough money ($441 in our example) to cover your initial outlay plus some extra profit – but not all of it due to fees and network costs.
10) Participate in Airdrops
Airdrops are a great way to start making passive income from crypto. Participating in Airdrops involves you doing a task and getting free tokens or coins as a reward. For example, many crypto projects hold these events regularly and they involve you doing some kind of social media task, such as following their accounts or retweeting something they’ve posted. It’s usually worth completing these tasks simply because it only takes a few minutes out of your day and could net you free crypto – which is worth money! Is staking your crypto worth it? Answering polls on the coin market is another good way of making passive income in cryptocurrency. In fact, I made $10 with less than 5 minutes of work!
Another simple way of making money from your crypto is through staking. Staking refers to you keeping your cryptocurrency in a wallet and letting it ‘stake’ – basically earn you a passive income. An example of this is NEO (which can be staked here). If you stake NEO, you get GAS as a reward which currently has a trading value of around $35 per coin. Other coins that pay interest include Ripple, Bitcoin and NEM. Best crypto staking strategy – Third Paragraph: Investing in cryptocurrencies isn’t just about buying one or two coins at regular intervals and hoping they go up in value over time.
There are lots of different ways to make money from crypto, which don’t involve actually buying any digital assets at all! One such method is called staking, where you simply keep your coins in a wallet and let them generate an income for you by holding them there. The more coins you have, the higher your earnings will be. A good example of a project where you can stake coins is NEO (you can find out how to do so here). If you hold enough NEO tokens in your wallet, then every year you will receive GAS tokens as a reward. At present time each GAS token has an equivalent value of $35; however, if demand for these tokens increases their price could rise further still – meaning that if I were to hold 1 million NEO tokens I would receive approximately $350k worth of free GAS every year!