About 300 million people around the globe own cryptocurrency, and this figure is constantly growing. Those getting into the crypto field do so with the only aim – to make money. However, not everyone manages to reach this goal. Why? In most cases, it’s a lack of strategy and understanding of the crypto market, which leads to significant financial losses and giving up the idea of getting income from cryptocurrencies.
To get into the company of those who succeed, you should choose an effective strategy to help you make money with cryptocurrency in 2022 with minimum risks. We’ve compiled a list of the 20 efficient ways to grow from a beginner to a successful investor.
1. Crypto copy trading
The volatility of the crypto market can play in hand if you choose trading as your strategy to make money in crypto in 2022. Unlike staking and investing, trading works well in the short term. However, this strategy is best suitable for experienced investors who can analyze the market and make accurate predictions of price fluctuations.
2. Crypto Staking
This strategy is great for receiving a passive income. It presupposes you lock the coins in a crypto wallet under a smart contract. They will be used by a proof-of-stake network for validating transactions and keeping them safe. As a reward, you’ll get interest payments. Depending on the networks, the crypto staking period may have some time restrictions, or you may have the possibility to withdraw your assets whenever you choose to do so.
Seemingly the easiest strategy is investing. Buying and holding the tokens is one of the most perspective options in the long term. The volatility of cryptocurrencies is problematic in the short term, but their potential in the long term is difficult to overestimate. Investing in new coins seems to have more potential for enhancing your crypto assets but bears more risks than investments in Bitcoin or Ethereum.
4. Cryptocurrency Mining
This method requires buying or renting special mining equipment, as well as significant expertise in the field and regular investments. On the other hand, there are companies offering cloud mining. The latter requires nothing on your part aside from opening an account and paying a minimal cost to the company performing the mining for you.
5. Yield Farming
Yield farming implies the process of lending your idle coins to the liquidity pools. Decentralized exchanges you will lend to need crypto assets to support their liquidity. They will pay you interest rates for the time your assets will spend in their liquidity pools. It’s worth mentioning that the deposited funds will be locked for some time.
6. Play-to-Earn Games
This method is perfect for gamers who want to make money with cryptocurrency but don’t want to invest anything. Just choose one of the variations of games where you can get tokens for playing and start earning crypto. Aside from this, some games allow getting NFTs (non-fungible tokens), which can be sold for the in-game currency and exchanged for fiat money.
7. Cryptocurrency Faucets
Those who don’t like gambling but like the idea of getting cryptocurrency without investing a cent can make use of cryptocurrency faucets. These websites and mobile apps require you to perform tasks to earn coins. For instance, you may need to solve captchas, watch videos, participate in surveys, or do any other job you’ll be paid for. The payments are very small, though.
This is a unique way to get crypto without making an investment. Airdrops concept implies the distribution of the free tokens of the newly launched projects directly to the people’s wallets. The aim of such an act of generosity is to bring the new cryptocurrency into circulation. You just have to be in the right place at the right time.
9. Crypto Dividends
To get dividends, you should buy and hold crypto assets. However, not all coins pay dividends to their tokens holders. Among those who do – KuCoin, CEFF, NEO, and others. Unlike with staking coins, your crypto assets are not locked.
10. Crypto E-Sports Betting
Making money with cryptocurrency is also possible by betting on e-sports events. There are some services that accept bets in crypto. As e-sports are quite new in the sports betting arena, the odds are rather high, so you can earn good money by making prognoses on the outcomes of e-sports games.
11. Try Your Luck with NFTs
Non-fungible tokens, or NFTs, are unique pieces of digital art. NFTs are currently growing popular, and this tendency will continue. Once you buy an NFT, you can display it on the marketplace and watch the price offers until you like one. The truth is that nobody knows how much your NFT can value. This depends on its popularity. History knows cases when NFT was sold for almost 3 million US dollars.
12. Opening a Crypto Savings Account
This method resembles a typical bank account. By depositing your tokens to the chosen provider, you let them lend your coins to the borrowers for interest rates. The payments will continue during the time your coins are lent out. Depending on the cryptocurrency and the service you deposit, you can get about 7 – 12% annually.
13. Buying a Share in Decentralized Autonomous Organization
A Decentralized Autonomous Organization (DAO) is a project owned by a community of people holding its crypto coins. You can make money by investing in cryptocurrency, which is in-home for a certain DAO. Such an organization can perform the role of decentralized exchanges for exchanging, buying, and selling tokens. The generated profit is distributed between the investors proportionately.
14. Work for a Company Involved in Crypto
This method is perfect for those whose knowledge and skills can be of interest to crypto trading platforms and other services involved with cryptocurrencies. You can work as a content creator, digital marketer, or web designer and get your payments in crypto.
15. Participate in Affiliate Programs
The biggest companies working with cryptocurrencies have affiliate programs. By participating in them, you may get a referral commission for trading certain cryptocurrencies, or you may get a commission by promoting the service among your network contacts. Once any of them makes a trade, you get your commission.
16. Social Media Based on Blockchain
Cryptocurrency social media platforms pay their users for creating and promoting content. The rewards are typically paid in the native token of the service.
17. Blockchain Forks
The nature of blockchain is that the changes in its protocols or upgrading lead to the appearance of the forks, which have new coins. Keeping tokens in the original chain, you get tokens from a new network free of charge.
18. Crypto Arbitrage
A lack of control over the cryptocurrency sector leads to significant differences in the evaluation of the assets by different crypto exchanges. If you buy tokens from cheaper sources and sell them on overpriced exchanges, you can make anywhere between 5% – 30% profit.
19. Become a Crypto Content Creator
As the activity of the cryptocurrency companies goes entirely online, it significantly relies on content marketing. By creating infographics, media content, and written content for crypto brands, you will be paid in crypto.
20. Incorporate Crypto Payments into Your Business
If you own a business, start selling goods and services in cryptocurrency. Just choose the channel for accepting payments in crypto coins and start making money.
All the methods can’t be a perfect fit for every person wishing to make money with cryptocurrency. But we hope you have found one or several that will become a great start for you.