In times like these when all crypto markets are at its worst it might be hard to believe that anyone in crypto is making money. The historic bull market madness is long past us and crypto looks like one of the worst and riskiest investments one could make.
I want to show you that your investment is not lost and that there are still ways to make good money with your crypto investment. Here are my five best opportunities for you:
Even though volume for most markets is way down there is still a lot of lending going on. The b0x project allows you to lend your crypto to others for margin trading and is integrated with a handful of exchanges already. If that’s not for you there are many projects for broader use case lending on the blockchain. EthLend lets you negotiate loans on the blockchain, allowing you to earn interest on your holdings.
If there is no money to be made by holding your precious coins it is time to get active. Many of us have made the mistake to blindly start trading, learning as you go – or losing as you go. To not make the same mistakes again you have to come prepared and gain some valuable trading knowhow. Way of the turtle is a great book for beginner traders. Once you have the basics you should work your way to the expert book section and crypto-specific reads all the while practicing your skills with paper trades. Once you feel comfortable enough it’s time to put skin in the game. Happy trading!
If active trading is not really your thing it is enough to get other people trading. Almost all exchanges offer referral programs. The best exchanges for a variety of tokens is Binance. A smaller but trustworthy exchange, which is quick at listing new tokens is KuCoin, also running a referral program.
Being a bounty hunter sounds cool but really it’s just another job in the ever growing gig economy. Even if you’re not an influencer or you don’t have a blog there are many bounties waiting for you. Bounty0x is a project specialised on bounties where anything from a tweet or joining a Telegram channel can qualify. The root of bounty campaigns is coming from bitcointalk.org where users mostly get rewarded by advertising in their signature. The whole bounty hunting comes with low risk but you have to weed out the worthless projects and focus on the gems.
As always – the best rewards come and go quickly so it’s important to follow great projects before an airdrop is announced. I have high hopes that Harmony and Jura will reward their early community one way or another.
In the past I have written about the possibilities of making a living with airdrops. While the market has certainly shifted to the worse since then I don’t believe airdrops are dead at all. All to the opposite I think they can be even more profitable, you just have to change your strategy. If you grab some value coins from Airdrops now and hold them until the next bull market cycle there’s much profit on the table.
While Ethereum’s Proof of Stake is still in the making there are other cryptocurrencies which allow you to earn interest on your staked coins. NEO is a popular project where simply holding coins in your wallet is generating GAS for you. LISK and Stratis are both well established coins that allow you to earn money with your holdings too. Staking projects are all quite similar but there are small differences in how to set yourself up. So do your research before you blindly buy a PoS coin.
Bonus: Sit Tight and Keep Your Coins Secure
The easiest way of making money in crypto is patience paired with security. If you believe in crypto all you have to do is make sure you’re not losing your holdings. This is your main responsibility as a crypto investor and you should never trust an exchange with your coins. The simplest and safest way of keeping your crypto coins safe is to use a hardware wallet. I am a big fan and long term user of the Trezor wallet myself and I love the advanced features like the included password manager.