A recent study in crypto sphere carried out by Statista shows that the blockchain technology market would exceed $23.3 billion in size by 2023. Another report pegs the total amount raised by blockchain startups from private and institutional investors in 2017 around the $1 billion mark.
Huge potential to earn in crypto sphere
If there’s anything these mind boggling stats project, it is the huge potential in the industry available to be exploited and converted to financial gains. While the top tech mega corps and super rich private investors can easily access the orifice from which this digital wealth flows, how about the average Joe who has but his mental capacity, internet access and time investment ?
In a high risk industry saddled with volatility and uncertainty, here are five ways you can earn in crypto sphere without having to refresh your portfolio on a per-second basis!
1. Become a community manager/social media manager
Community management is one of the most sought after skill in the current crypto sphere. For emerging and existing blockchain startups, the importance of building a solid engagement and interacting with community members is unquantifiable as it helps promote trust and enhance brand reputation.
Since core team members of ICOs and STOs are often engaged with platform development, there is often a need to hire extra hands to help boost online presence, interact with the audience and share information concerning project development on their social media channels.
Community management can be fairly rewarding, considering that it is risk free and has very low entry requirements. Reputable telegram moderators and social media handlers for ICOs and STOs earn hundreds of dollars for their efforts. If you are very familiar with blockchain/bitcoin, possess good verbal and written communication skills and prior experience handling social media, consider applying for community management positions.
2. Take part in bounty and airdrop programs
Bounties and airdrops are programs through which new cryptocurrency ICOs give out their native tokens to community members who carry out certain marketing tasks. These tasks may be as simple as requiring users to submit their wallet addresses while others involve sharing posts to social media pages, creating unique articles and videos and sourcing for referrals.
Asides being a good way to familiarize oneself with the diverse applications of blockchain technology, engaging in bounties can help rack up different altcoins without having to part with money.
3. Become a blockchain developer
Blockchain development is the most in-demand skill on popular freelancing site, Upwork and unarguably the highest paying skill on this list. On average, blockchain developers earn around $150,000 – $200,000 annually. Despite the more than decent pay, there are not enough qualified developers to meet rising demand. This poses a barrier to small and large-scale businesses seeking to enjoy the benefits of a distributed ledger.
Learning to program smart contracts and to build decentralized apps on the ethereum blockchain is an investment that guarantees great monetary returns. Furthermore, it sets you on a career path with healthy futuristic prospects.
4. Start bitcoin blogging/vlogging
More people are gaining interest in blockchain technology and cryptocurrencies than ever. The frequency of bitcoin and cryptocurrency related keywords in search engine statistics lends credence to this assertion and accounts for the huge spike in demand for content creators.
Traders need reliable market analysis and price predictions, ICOs need descriptive whitepapers, articles and video reviews, new industry participants need introductory tutorials while crypto news outlets such as Coin Telegraph and Coindesk are constantly on the lookout for qualified crypto journalists to bolster their ranks. The total crypto sphere basically thrives on content.
Start to earn a proper income as a blockchain content writer or Bitcoin blogger can be very challenging as it requires a lot of input. With patience and consistency coupled with the right strategies however, it can be very rewarding on the long run.
5. Become a risk assessment manager/financial advisor
A good number of investors have the cash to play around but lack the expertise to draft and implement financial plans or successfully manage their portfolios. Many others do not have the time on their hands. As a result, they hire expert financial advisors who proffer investment ideas, risk mitigation schemes and other strategies that help them attain their financial goals.
If you have an extensive background in financial consultancy, business management or any closely related discipline that depicts a high level of commercial awareness, then this is a viable option for you.
The myriad of opportunities presented by blockchain and cryptocurrency is not limited to traders, miners, and mega investors. With as little as your time investment and intellectual property, you too can earn income and benefit from this multi-billion dollar industry.
Disclosure: This post could contain affiliate links. This means I may make a small commission if you make a purchase. This doesn’t cost you any more but it does help me to continue publishing cool and actual content about Bitcoin & Crypto – Thank you for your support!
Latest posts by Daniel Okorafor
- Coinbase vs Coinswitch: Two Different Gateways to Cryptocurrency - June 24, 2020
- 11 Online Games That Will Pay You Virtual Currency - June 13, 2020
- Best Places to Stake Your Crypto and Earn Dividends - June 6, 2020