Everyone these days seems to be talking of the blockchain; this has been perhaps the most disruptive technology since the advent of the Internet. More and more investors are exploring this technology to see if it is a worthwhile investment. Because of a decentralized nature, the blockchain can be used easily. It is the foundation for cryptos like the Bitcoin which has emerged as a go-to safe haven asset for millennials. Here are some ways in which you can make money using the blockchain:
- Trading: It goes without saying that crypto trading is perhaps the best way to make money from the blockchain, but it is not an easy way. Cryptos are volatile making it hard for a newbie to master the art of making good trades. You need to first understand how this technology works and what its infrastructure entails before you can use it to derive value. Cryptos have held their ground during the pandemic at a time when governments everywhere have been on the verge of a collapse. This is why almost everyone is keen to know more about crypto trading opportunities and automated trading bots like bitcoin prime app that do not need any human intervention. Trading demands learning the art of technical and fundamental analysis and reading trading charts and graphs to analyze patterns and trends.
- Crypto payments: You could make money through the blockchain when you start accepting cryptos as payment for services offered. This payment option will help you get more clients because crypto payments are believed to be more secure and convenient.
- Mining: Crypto mining is one of the most lucrative ways to make money via the blockchain. Cryptos can be mined using computing power that helps miners’ solve complex cryptographic problems. Miners use specially-designed computers and business use blockchain mining apps for this purpose. With some startup capita and access to low-cost electricity, you can make money from the blockchain.
- Freelancing: If you like to write essays, complete surveys, or love to blog, you can consider earning cryptos through such freelance work vis-à-vis different websites offering such jobs. For this, you need to be passionate about cryptos and know in-depth about the blockchain. You can create unique and interesting content that will assure of a steady income.
- Blockchain Development: While the blockchain may still be in its infancy and slowly making its way into different industries, there is a growing demand for blockchain developers and engineers. So, you can use this opportunity to hone your skills and make big career moves. You may enroll into online blockchain courses to get necessary certifications to become an expert in this field.
- Stake coins: You can simply buy and then hold onto these coins to earn similar ones. Coins are therefore held in wallets for earning “interest”. Alternately, you could make money creating decentralized applications or dApps.
- Lending cryptos: You can lend your crypto assets through platforms like Nexo or Salt Lending to those looking for digital assets. In exchange, you can earn interest from the borrowers.
- Airdrops: Did you know that you could get free tokens from blockchain projects? They do this to reward their loyal customers and to create awareness. For instance, Binance had airdropped 500 TRX coins in 2017 to its users who owned 0.003BTC in wallets. Besides airdrops, you can get rewards when you use Bitcoin faucets; these reward users for performing certain actions.