Blockchain

5 Tips to Make Money With Blockchain

You have probably stumbled upon this post with the knowledge that the blockchain industry has impressive earning potential. You’re not alone. Experts...

Oliver Morris Written by Oliver Morris · 3 min read >
Make Money With Blockchain

You have probably stumbled upon this post with the knowledge that the blockchain industry has impressive earning potential. You’re not alone. Experts predict that the blockchain market will reach $20 B in annual revenue by the end of 2024. The question is, how can an independent contractor like you get into the game?

There are many ways to earn extra money on the side with blockchains and the cryptocurrency that it powers, Bitcoin. Here are just some ideas:

Get Into Trading

We understand why a lot of people can feel quite intimidated when trading Bitcoins. After all, it’s a pretty risky endeavor. Nevertheless, it still attracts a lot of crypto-enthusiasts for its high profitability.

As with other forms of trading, success in crypto trading is going to take more than just luck. Honing your skills in analyzing charts and trends as well as keeping yourself updated with global news and other factors that might affect cryptocurrency activity, are essential to maximize your earnings and minimize your loss.

While you can always make a career out of crypto trading (especially if you really have a talent for it), there are certainly ways to turn this into a passive income stream as well.

Receive Bitcoin as Payment for Your Goods and Services

Do you provide a product or service? Then have you considered offering cryptocurrencies as a form of payment? Not only is it a viable alternative to the usual methods, but it will also help you increase your consumer base. You might even discover target demographics that you probably haven’t considered before when you only dealt with fiat currency.

Those who want to accept cryptocurrency as an alternative form of payment should look into payment gateways and cryptocurrency merchant solutions. They will help you deal with calculations and conversions more conveniently.

Develop a Blockchain Platform

You don’t always have to deal with Bitcoins to compete within the blockchain industry. After all, a blockchain is not a form of online currency. Instead, it is a form of technology that can be developed into specific programs and serve various purposes. Here are some ideas:

  • Product Authentication. The proliferation of illicit manufacturers is a pressing and ongoing problem worldwide. Counterfeit products are rampant, It is a problem that both companies and consumers face each day. We understand why there are some people that might prefer fake products over authentic ones for their affordability, but we firmly believe that there are more customers who want to get the most out of their money by buying authentic. There are still a lot who are deceived into buying products they thought were original but not.
  • Fortunately, blockchain technologies can be utilized to create a product authentication platform. Seal, a company that already caters to this growing need, uses small data chips that can hold a digital certificate of authenticity for a product. A consumer can then tap on the item with their phone and view the certificate and provenance of the item.
  • Real Estate. Blockchain-based real estate management platforms are in high demand these days, especially those that cater to international real estate reservations. PrepayWay is way ahead of the game by creating a platform that creates secure and enforceable contracts that cover international laws and multiple languages. This makes sure that their contracts stay compliant regardless of where the property in question is.
  • Digital Advertising. The digital advertising industry is currently wading through a lot of problems. There’ s the constant competition and complex bidding processes, dealing with ad-blockers and intermediaries, and finally, not being able to maximize the benefits for their efforts.

Block-chain company Varanida seems to have a solution to all of these problems:

Creating an incentive-based marketplace that all (advertisers, publishers, and consumers alike) can benefit from. Consumers can earn tokens by viewing ads and they can use these tokens to purchase from publishers. Advertisers are also rewarded by getting their ads viewed by consumers who are really interested in viewing them.

There are certainly other block-chain based programs that you can develop. The three niches we’ve mentioned above are simply the most in-demand right now.

Continue What You’ re Doing

Are you a freelancer who writes articles, creates graphics, or takes stock photos for a living? Regardless of what type of freelancer you are, you will be pleased to learn that there are online job marketplaces that offer projects in exchange for cryptocurrency now. Ethlance and CryptoCurrencyJobs.Co is just two of the steadily growing job platforms across the net.

We also recommend this step to those who are looking for easy extra income streams. Some projects are as simple as encoding, taking online surveys, and transcribing audio clips.

Learn Something New

Finally, why don’t you learn how to be a blockchain engineer or developer yourself? Recent reports suggest that blockchain development is the most in-demand hard skill in 2020. There is a huge global demand for blockchain professionals, and yet there are still so few. No wonder blockchain experts earn as high as they do.

To Sum up

Blockchain is the way of the future. It provides more cybersecurity to business processes and helps facilitate cryptocurrencies. There are different ways to earn money in the blockchain industry. You can get into trading, accept Bitcoin as a form of payment, or even become a blockchain engineer and develop a platform yourself. With the high demand for blockchain, we are certain that there are other ways to profit from this industry. The ones we have shared above are just those that we have already tried ourselves. Good luck!

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Written by Oliver Morris
Oliver Morris is an AI and tech writer for Plat.AI. He has previously worked for a tech startup and consulted with data scientists on the latest AI tools.
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