Many people look for ways to make money with cryptocurrency these days. Despite the bear market, Bitcoin and Ethereum remain very appealing assets with significant opportunities. Below are some examples of making money with crypto in 2022, although these options will apply for many years to come.
Buy Crypto For The Long-term
The most straightforward way to make money with cryptocurrency is by buying one or multiple assets and keeping them in the portfolio for the long term. For instance, buying Bitcoin and not looking too much at its price for the next year or two years is a good start. The cryptocurrencies with potential and a proven track record will often overcome price dips along the way and continue their upward trajectory over time. However, not all currencies are worth investing in long-term, as most projects lose traction after a year or less.
Notable assets to hold for the long-term include Bitcoin and Ethereum. Everything else is merely based on speculation rather than real-world potential or subject to ongoing lawsuits/probes by the SEC. It remains unclear if Ethereum warrants a more thorough SEC investigation, so maybe sticking with Bitcoin is the best idea. BTC Also provides access to all other cryptocurrencies on the market, so it is always a smart idea to add it to one’s portfolio.
Another way to make money with cryptocurrency is by staking your portfolio assets. Of course, that will only apply to users who hold assets relying on the proof-of-stake consensus mechanism. Ethereum is – bar any legal issues – a solid option, as it recently switched to a staking-based network model. Moreover, users can expect a yearly return of roughly 5% on their ETH holdings, although those will not unlock until the next network upgrade – dubbed Shanghai – goes live.
The downside to staking is how it is traditionally only suitable for more “fringe assets” with potentially underwhelming price performance. Think of assets like Solana, Cardano, and others that may not retain their value over the long term. That doesn’t mean these options aren’t worth exploring, but it may require a bit more homework and a higher risk appetite.
Find A Crypto Job
Many people assume it is virtually impossible to work in the cryptocurrency sector. That is untrue, as many companies have open job listings around the clock. In addition, there are other ways to make money with cryptocurrency from a job standpoint, including marketing, writing, customer support, etc. It is a lot easier than one may think to get actively involved in this industry and start building a crypto portfolio.
Moreover, there are various job boards dedicated to cryptocurrency-related positions. Options include Coinality and JobsforBitcoin. Finally, for those with a writing itch to scratch, platforms like Publish0x make it very easy to write down your thoughts or opinions and receive rewards from those reading and liking your post.
Another convenient and straightforward way to make money with cryptocurrency is going through affiliate programs. Users need to be careful about the services they advertise, though. Using exchanges and known service providers is a safe bet, but shadier projects are best ignored. Another booming niche is the casino industry, as cryptocurrencies continue to build strong momentum in that vertical.
It is easy to start with affiliate programs as they have no upfront cost. Earning money is also relatively easy, although finding people willing to register or purchase through a referral link may take a while. Collecting the commission can take weeks or months, depending on how the affiliate program company decides to pay out.
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