How To Make Money With Blockchain?

Blockchain is going to be the game-changer in the day to come, much beyond the originally envisaged cryptocurrency realm, it has evolved into an all-encompassing revolutionary backbone technology that adds value to businesses across sectors.

According to a Gartner report, many new innovative companies will use it and at least one business created using this advanced technology would be worth $10 billion by 2022. By 2030, it could be used as a foundational technology for 30 per cent of the global customer base.By 2025, blockchain would add a business value that will grow to over $176 billion. This would increase further to $3.1 trillion by 2030. It simply shows the unfolding potential.

Here are some ways you can begin capitalizing on blockchain technology today, beyond just owning some bitcoin:

#01: Invest in Blockchain Companies

In a case you are not able to invest in Blockchain Technology, you can invest in the companies that you believe will materially benefit. There are the types of companies using blockchain technology that you can consider investing in:

  • Mining Enablers and Traders: Provide the “picks and shovels” used for crypto mining, or trading platforms and crypto exchanges.
  • Blockchain-as-a-service (Baas): Providers of cloud-based blockchain solutions or consulting services.
  • Blockchain Users: Companies actively involved in the development and utilization of blockchain tech.
  • Emerging Industries and Disruptors: Innovators creating new business models or disrupting existing ones using blockchain tech

#02: Buy/ Hold/ Trade Cryptocurrencies and Tokens

“A person who invested $19,000 in Bitcoins — right at the peak of the 2017 bull run — found their investments dip by around 75–80%. But, patience sure pays and he earned 300% more after a gap of three years.”

According to Cryptominati Capital “Crypto space is attracting investors, entrepreneurs, and individuals to invest and make new projects”.

On the other hand, users can send an amount of native token to some smart contract and get the interest like saving money in the bank. It seems like crypto is the easiest way to make money but you should prepare a strategy to invest safely.

Security Tokens, Utility Tokens or Non-fungible Tokens are also the digital assets for your buying.

For trading, there are 2 ways:

  • A Trading Bot: automatically buy and sell using strategies to increase profit. For example: if marketplace A allows 1 Bitcoin for 10 ETH and marketplace B allows 1 Bitcoin for 9 ETH, you can buy 1 Bitcoin in marketplace B and sell it to marketplace A and instantly get 1 ETH as profit.
  • Arbitrage: taking advantage of price discrepancies between coins listed on multiple exchanges.

#03: Build a Dapps

Dapps (Decentralized Applications) are digital applications or programs that exist and run on a blockchain or peer-to-peer (P2P) network of computers instead of a single computer, and can be developed for a variety of purposes including gaming, finance, and social media. How does it work and their benefits, you can refer our article: An Essential Guide To DApps Development

Unlike the most regular apps which are really hard to monetize, blockchain technology has some unique opportunities that can be compared to others in the monetizing aspect. Most successful apps developed by this technology serve financial use cases, that means users already spend money whenever they’re using the app. And the first way to monetize the app is by charging fees, this method has proved to be profitable like CryptoKitties. They charge around 3.75% of the transaction fee for every successful auction.

Consider this as a general example of how Ethereum DApp will be monetized:

  • A buys something from B utilizing your service
  • C% of that amount goes to a service provider (you)
  • So, (100-C) % will go to a service provider.

Another ways to monetize your DApps are charging for Premium Functionality, Membership/ Subscription, Advertisement.

#04: NFT Games

NFT Game is also a popular type of Dapp in the market nowadays. With players, they can play games to get items and each item is represented by an NFT, then they sell those items to earn money, if the game has high credits, the price of all items may increase. Here’s a closer look at these top NFT games:

NFT games are one way investors are cashing in on the NFT craze. Many NFT games incorporate financial models, allowing players to make money as they play. As NFT gaming popularity increases, the economic potential could rise. Several games are beginning to stand out as potential money makers for players, making them interesting ones to watch.

#04: Create and Post Content

You can create your own content about blockchain topics with a variety of formats: blogs, social post, meme or video, live streaming which you can earn money from.

Some of these opportunities will involve performing simple tasks such as editing or writing essays, completing online surveys and blogging. Depending on the site you work for, you may be paid in cryptocurrency or fiat currency. Either way, if you have a way with words and an interest in blockchain, blogging on a regular basis and producing unique content can be a dependable stream of revenue if you’re consistent enough.

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