The cryptocurrency craze is so big now, that governments are starting to get on it, reports Bloomberg. It’s only wise that you make money off it too, but how can you do this without a starting capital to get into cryptocurrency trading? There are a few methods open to you depending on whether you want to earn some coveted Bitcoin or simply want to make money from this industry using your personal skills.
5 Ways to Make Money on Cryptocurrency, Without Actually Having Any
Freelancer? Get your payments in Bitcoin
If you are already a freelancer, you can easily start getting paid in cryptocurrency. In fact, this will allow you to expand your client base as there are businesses today that seek out employees they can pay in this manner specifically.
The problem with this plan is that the majority of freelance marketplaces don’t provide this payment option. They also have rather high fees and generally ‘not good’ money transaction terms from the freelancer’s point of view.
Going without the security of an organized marketplace isn’t an option, unless you are 100% sure in your client. The alternative is to use specialized freelance platforms where you get paid in Bitcoin. These include Cryptogrind, /r/Jobs4Bitcoins (Reddit), and XBT Freelancer. If you want to make money in Ethereum, check out Ethlance.
Blog about cryptocurrency
If you are an expert trader or have some special knowledge about the cryptocurrency industry, monetize it by starting a blog. There you can share tips, news, or your personal educated predictions. Whatever knowledge you have, you’ll be able to make money off it if you create crypto website.
However, while launching a blog today is cheap and can take less than 15 minutes, taking it to the top will be much harder. You’ll have to work relentlessly promoting your blog online and filling it with valuable content.
A blog will become profitable only when you generate a decent following and advertisers will want to pay you for ads. You can boost the chances of this happening by becoming an active member of the cryptocurrency community and establishing yourself as an expert on popular forums.
Become a teacher
This idea on how to make money from cryptocurrency ties into the blog mentioned above. The point is that you can share your knowledge in many ways, including creating an online course, hosting paid webinars, selling whitepapers and e-books, and even becoming a personal cryptocurrency trainer.
Use whatever format works best for you or all of them for maximum return. You can get paid in cryptocurrency of the good old dollars, which you can later use to buy some cryptocurrency and apply those same trading skills you’re selling to your students.
Boost your actual business by accepting cryptocurrency
You can make money on cryptocurrency even without actually getting into this industry. If you already have a business of your own, you can boost your income by accepting this kind of payment. Today you can do this regardless of whether you run an online or a brick-and-mortar shop of any kind.
Be sure to add ‘We accept Bitcoin’ to your marketing campaign so people know where to go when they want to pay in the ‘cool money of today’. As the cryptocurrency craze gets hotter, more proud owners are looking for ways to actually use their electronic money for things other than trading.
Have little money? Get in on ICO flipping
ICO (initial coin offering) is when a new cryptocurrency company offers its kind of coins for a very low price before the actual launch. That’s a good opportunity to buy cryptocurrency very cheap and make some money selling it after the coins go to the trading exchanges.
The amount you can make might not be big, but it’s a good method of growing a small capital with little risk, as opposed to the high volatility trades.