Top 20 Ways to Make Money With Crypto While The Market Is Down [Greatest List]
In the fast-growing world of digital technology and the concept of digital currency had to evolve at some point in time. And it did in 2009 with the advent of Bitcoins. All these Cryptos can be used for a wide range of functions. As it always a good idea to explore horizons finding ways to make money with crypto is a stellar idea while marketing is acting up.
Cryptocurrencies since the beginning have gone up and gone down. The last crash at the end of 2017 is still making it impossible for HODLers to get a hold of their Lambos.
To get the best while crypto market is down I started to research for other ways to make some crypto while HODLing my stash.
And what I found – blew my mind.
There are more ways to make crypto than I expected. And I am not talking pennies – you can make A LOT.
So, I gathered all the top ways to make crypto and wanted to share with the rest of you.
Go check it out – this is gold.
Ways You Can Make Money With Crypto
No need to wait 😀
There are a lot better ways than HODL.
Let’s dig in!
Accept payment in cryptocurrencies
If you have a business that sells products and services, you can choose the crypto you would like to be paid in. To do so, you have first to have a digital wallet and then look for customers willing to pay in crypto. You have to value your products based on the value of the crypto, say one-third or one-fourth of a coin. Once you receive payment, you can hold on to it until it rises in value and then make a profit by selling it for US dollars.
Bitpay has a widget that you can use on your website and also a WordPress, Shopify, etc. Plugin – accepting crypto now takes seconds. They even have a POS system for coffee shops and restaurants 😀
Running Master nodes
You can earn substantial passive income by running master nodes of cryptocurrencies. A master node is a computer wallet or cryptocurrency full node that maintains a full copy of the Blockchain in real time, somewhat similar to Bitcoin full nodes that perform certain specific tasks. For running the master nodes, cryptocurrency networks pay the master node owners. However, you must have a minimum number of coins to get started, generally 1,000 to 25,000. Currencies with master-node functionality include DASH and PIVX.
Cryptocurrency operates in a free market sans Govt. control and regulations. Hence, there are no fixed prices. These vary greatly between exchanges. You can buy a certain cryptocurrency from one exchange that is selling low when compared to others, thereby creating an opportunity to buy low and sell high on another exchange, getting a good cut in between. This is called arbitrage, and if you can time it right, the spread is often 5% to 40%.
Stay tunned detailed post coming the next week.
This is a transaction where the full cycle of buy and sell is carried out in short-term increments and is usually completed in under an hour. But this will be profitable only if you are good at technical charting during various times of the day. The objective is to buy when prices are low and sell when the price climbs to your target. Caution is required here as the crypto market is very volatile and can fluctuate 20% to 50% either way.
Want to learn more – here’s a complete guide on how to go from beginner to Pro in an hour.
This is somewhat similar to day trading, but when you wait for two to three days to make a trade, it is known as position trading. You have to be patient and wait for the price of crypto to go below the last support to buy and then sell high.
A smart way of earning through cryptocurrencies is to buy and hold ones that pay dividends. Some Cryptos in this group are NEO, COSS, CEFS and KuCoin. You need to hold on to them to get a good share of dividends without even having to stake them in a wallet. Make a detailed analysis and research and add the right ones to your portfolio.
This method of earning from crypto has dual benefits. You get an appreciation of value for holding on to good cryptocoins and at the same time get rewards as dividends for staking the coins. Staking is the act of holding cryptocoins in a live wallet round the clock. Hence new additional coins as rewards are for staking as well as for securing the Blockchain network. You can try staking with Neblio, Komodo, PIVX, and Decred.
We again got you covered – the best staking guide is here.
Trading bots are critical in cryptocurrency exchanges because unlike traditional financial exchanges, these never take a break and operate round the clock. With trading bots working for you it is possible to be in control of the market even when you are sleeping. A software program which is essentially the trading bot interacts directly with the exchanges and places orders to buy or sell on your behalf. The bots monitor market movements and react as per set pre-defined and pre-programmed rules. Your earnings, therefore, will be maximised from market trading. Some of the more popular trading bots are Cryptohopper, 3Commas and Crypto Trader.
Contracts for Difference
This is somewhat similar to day trading with one basic difference that is, you do not have actually to buy or sell Bitcoins. Instead, you have to buy a “contract” for Bitcoin without having to store or hold the currency. You get the advantage of short Bitcoin where your profit goes up as the price goes down, enabling you to hedge your trades. However, you do not have any control over your trade in Bitcoin as you are not the real owner or the controller of the private key. Earnings here are through trading only.
ICO or Initial Coin Offering is the cryptocurrency environment equivalent to an IPO and act as a fundraiser. When a company needs to start a service or new coin, it launches an ICO with new investors buying into the offering with pre-existing digital tokens like ether or fiat currency. For their support, new investors receive a new cryptocurrency token which they hope will be an excellent return on their investment in the future. ICOs are often used by start-ups to bypass capital raising procedures of conventional financial institutions and banks.
ICO Bounty Programs
While on ICOs, there is another aspect to be considered and that is ICO bounty programmes. The word bounty in the digital world originated from online gaming platforms that offered incentives for taking part in their game development. These are various activities associated with an ICO, and the participants include developers, ICO promoters and investors. Incentives are usually free or discounted tokens that can be cashed when they are listed on the exchange. In the pre-ICO stage, incentives are offered to social media influencers, blog writers and marketers. In the post-ICO stage, rewards are provided to translators who help the Blockchain get a broader reach by translating documents as well as assist in marketing and development. Coders who help detect flaws in the Blockchain are also rewarded.
Some of the upcoming ICOs offering Bounty programs are Mobu, Uranus, Orvium and Celes Chain. For the full list, visit https://icodrops.com/bounty-list/.
You can also make money in cryptocurrency through high-yield investment (HYIP) programs. Some of the platforms in this segment are Bitconnect, Hexabot and Chain Group. Essentially, it is a place where you can lend your Bitcoin out and collect daily interest which ranges from half a per cent to 2% on loan. If you go about it every day, you keep earning recurring interest that will snowball into large and substantial amounts. You lend money on the platform, lock it down for about 100 to 250 days and keep collecting daily compounding interest on that loan.
Try out Bitsler, an online gaming site that runs in Bitcoin and other cryptocurrencies. You can develop a script that runs in the background and will place the bets and do the gambling on your behalf based on a set of parameters. Every time you win or lose, you can adjust your bets accordingly. You can bet with Bitcoin or Aetherium and get an immediate return in that currency. But as in all things gambling, you will need an element of luck to make money out of it.
Binary options are called so because the only alternatives are to win or lose. It is a trading strategy where you will have to predict if the price of Cryptos will rise or fall over a given period. You will earn and receive a payout if the rise or fall occurs over that period. If not, you lose your investment in this trade.
Micro-tasking against cryptocurrencies
You can take up some micro-tasks or some service for somebody if you have time to spare and earn cryptocurrency in exchange. These tasks are usually simple such as downloading and testing new apps, doing online surveys or watching videos. Services that allot micro-tasks are Bituro, Bitcoin Rewards and Coinbucks. You will get paid in Bitcoin, Dogecoin and the like.
Working for cryptocurrencies
Instead of micro-tasking in your spare time, you can also opt to work full-time for cryptocurrencies. If you are employed as a writer or a designer, a developer or a tester, you can exchange your services for cryptocurrencies. To start off, you can explore the following platforms that offer Bitcoins in place of work done. These include Jobs4Bitcoins, XBTFreelancer, Coinality, CoinWorker, bitWage and Angle.Co. By earning in cryptocurrencies, you get the benefit of price appreciation that most Cryptos are witnessing in recent years.
As per Wikipedia, Bitcoin faucets “are a reward system in the form of a website or app that dispenses rewards in the form of a satoshi, which is a hundredth of a million of a Bitcoin value. Visitors can claim this reward in exchange for completing a captcha or task described in the website. Some faucets also dispense alternative cryptocurrencies”. This is not an option for those involved in full-time jobs.
If you have made a success of your blog or website on Bitcoins, you can potentially make money through Bitcoin affiliate marketing. In this approach, you get paid a certain amount of commission for every referral that you bring to a Bitcoin business. If that business has an affiliate programme and your blog is widely read by people who link to that business and purchase the products and services offered, you will have an unlimited source of income.
For example, there is Steemit that allows other readers to donate you crypto if they like your writing.
Contributing to blog and news sites
You can make good money by writing for an increasing number of blogs and news sites that require dedicated and knowledgeable writers to discuss Bitcoin and other cryptocurrencies. Depending on the level of understanding of the subject, you can get paid handsomely. At top levels, writers get to choose the payment methods – crypto or fiat currency. If you are looking for jobs in the Bitcoin environment, try website Coinality.
Early followers of the cryptocurrency industry had made significant sums through mining Bitcoins. It is a process with which new coins are created on specific computer programmes using powerful processors. At its inception, miners could mine thousands upon thousands of Bitcoins with little expenditure. Today, it is a very complex process that requires specialised hardware and software and energy resources. But that is not to say that it is not a lucrative proposition. It is if you can make initial investments to buy mining equipment like ASIC and GPUS and additional supporting hardware with access to cheap electricity.
That’s only the beginning!
Before closing, a word of caution though. You can earn big money through cryptocurrency that promises you high returns but take the necessary precautions not to get caught up any in any illegal schemes. Ensure that everything is above board and you are following the laws of the land before you try out any of the methods given here to earn money through crypto even when the market is down.
The best part is – Crypto market is in it’s infancy. That means there will be many more ways to make money with crypto.
Once I discover anything that’s profitable – will update the post.
And feel free to share your tips & tricks on how to make crypto while the market is down in the comment section 😉
Happy Crypto hunt Y’all!