Bitcoin Forum

I joined cryptocurrency in 2021 based on recommendation from a friend. Since then, I focused mainly on trading in exchanges. By this I mean, buying in exchange and holding till price rises and I sell for a profit. I wouldn't say it was a bad experience entirely but it is a slow process that tests patience, wisdom and greed.

Nevertheless, I believe there should be more ways one can find opportunities of making money from blockchain technology in general; this is the reason for this thread. Kindly, give recommendations as to how one or what one can do to make income (passive or active) from cryptocurrency and blockchain technology.

There’s so much more to it than just how much money you can make. If you stop looking for the money and start looking at the actual changes it made to society and finance, you’ll understand so much faster why and how Bitcoin is the future.

Opportunities are many. You get free banking with no contracts and restrictions in countries where unbanked are many. There’s nobody you have to ask for permission to send money to somebody else. You send it whenever to whoever you want. You can set up a Bitcoin payment system for your business and stop accepting the commissions banks take for transactions your customers make. Or you can just invest in Bitcoin and be part of the future. But again, the spectrum of opportunities is so much wider than you think.

Understand Bitcoin and use all the opportunities you see around. By taking these opportunities, money will come to you naturally. By earning the % you used to lose through bank POS contracts, by inviting Bitcoin enthusiasts to your business, by purchasing amounts of Bitcoin that become twice as hard to mine every four years and much more.

Trading is one of the ways to earn from cryptocurrency. Another way again is integrating its payment method into your business, this will allow you to earn some income as the price increases but the risky of losing is also there.
If you want to earn from blockchain then you need to be a developer or kind of software engineers, there companies that employ people with the coding skills and since the whole thing isn’t that rampant there is opportunities still much available in this space. You can also be a cryptocurrency or rather bitcoin miner and engage in the mining process.

All of these things needs funding and knowledge, for someone who doesn’t have any basic knowledge you need to seek one first. The only way to earn cryptocurrency for free is through the internet faucets where you get paid in coins for performing some tasks, but this also doesn’t generate any significant income again

Basically, the way to make money through crypto is definitely to make buying and selling transactions or what is called trading. But if you ask what ways you can make money through crypto, apart from trading. As far as I know, the way to make money is like mining bitcoin, or other crypto too, like litecoin and ethereum classic.
Staking on crypto.
But in essence, all of these methods all lead to trading. Whether it's long/short term investing, staking crypto and mining. Surely everything ends in the name of trading.
Because in my personal opinion, if you are an expert and experienced in trading. I'm sure it will be a regular and reliable income.

You are already on the right track by starting trading a few years ago ^{(based on your words)}, all you need to do is improve your skills and patience, if you have mastered both well then increase your trading capital.  remember, trading is one of the best ways to earn more crypto.

for advice on passive income in trading, i can't give the right advice because i didn't do that but don't you have the intention to open your own small business and then use cryptocurrency as a payment method, if indeed in your country it's not a problem then you will be a pioneer in the city or neighborhood where you live.

Well, that strategy you've been doing is the strategy for the many. And you know what, there are even more patient people that you can ever think. Like buying during the bear market and will hold it for years until the cycle comes again and goes back in the bull run.

Be a skilled guy that focuses in blockchain technology and development. There are still a lot of demand on it and it's not yet a saturated market for being a skilled person on this space.

1. Kindly developed yourself by learning about bitcoin and cryptocurrency as whole and get yourself higher opportunity to offer a service that you could get paid for in cryptocurrency

2. Have a mining rig or try to establish for a cryptocurrency exchange, you can as well do this locally within your visinity.

3. You can also learn about bitcoin and join a signatory campaign to advertise for them and get paid, this may be through creating contents, developing a software, creative arts or any other services as required.

The financial freedom that it gives has never been offered before, the chance to hold your money without relying upon any 3rd party services like banks and others is now happening because of what the cryptocurrency has offered. also, you will have multiple investment opportunities nowadays in crypto and as time goes by, it never failed to give more new things to try especially in investment and technology. The idea of keeping your money safe and having the freedom to withdraw the full amount of it whenever you like is the most helpful thing we have had since the emergence of crypto because we know how the banks controlled us before this great revolution has come to us.

To highly explore aspect of crypto-currency that doesn't require you to invest, then you should have a degree of technicality, Crypto-currency sure do offer opportunities but you must know it's highly competitive. An example is Bitcoin mining, this aspect used to be very simple with lesser competition than now and then you could even use your phone to mine, right now that aspect is very competitive and also you need heavy devices (software and hardware) that requires high amount of powers to function.

There are still many other aspect you can look into but I advice you start simple, investment has been the most famous opportunity that crypto-currency has to offer and it's been profitable but there are risky also attached to it. You can learn web designing and you can help projects create website or build a trading app but one thing is certain you should find a skill you good in.

Yes trading is good but like I said before, it requires lot's of patience and other factors. This post was actually inspired by the need to diversify. A lot of good suggestions have been given and I will take time to research some of them to see the opportunities they present.

This kind of trading is slow but it’s more safe in terms of risk especially for beginners who haven’t perfected a trading strategy. There are other opportunities in the crypto industry aside from trading, and participating in signature campaigns. You can become a crypto educator and start a online course that teaches people the fundamentals of cryptocurrency.
I don’t see how accepting bitcoin as a payment method in business will increase sales and give more income.

• Block chain developer; this involves relevant skills in building blockchains and maintaining then and generating tokens on different chains,
• Trading,
• Technical writing on blockchain technology,
• Coding skills to build blockchain related websites

Passive means of earning is investing. Staking works in altcoins but it's a risky means of trying to earn a profit which likely ends in a loss.

My advice to most people in the crypto space are,

 try as much as possible to maximize your portfolio, so that while trading may be lagging, other sector will be pay you.
Arbitrage, trading, investing, over the counter trade, chasing airdrop, crypto job an  engaging in launchpool.
If you can be more active on two at least, then you will surely do well.

Since there have been a lot of projects coming out, I've seen the need for their community management as well as being their moderator. Some do combine all of those tasks and that's just being done by one person as their SMM. With that, SMM is also a good niche and skill that someone can work for a project and that's the opportunity that can also be seen in here. Aside from that, project management is also a top-notch skill where one can study from those online courses and this covers not just crypto projects but every sector that requires one.

The crypto industry is a growing one, which means there is a gap in the market that entrepreneurs can see and satisfy. You can find jobs that pay in cryptocurrency or better still update your resume and apply for entry level roles in crypto/blockchain companies. There are new cryptocurrencies launching everyday, and they will need a community manager for their project.

Trading is just a small part of how you can earn money from crypto. Earning from crypto requires skills and knowledge. That is what you need to increase in order to gain money in the industry. Well, let me try to explain what source of money I know from cryptocurrency.

1. Airdrop and bounty
You probably don't need to spend much money (except for gas fees) to earn money through this method, but you do need time, skills, and patience. There are many tasks that you can do here, like content creation, social media promotion, translation, signature campaigns, and many others.
2. Staking
Many cryptocurrencies offer staking, where you can lock up your funds in a wallet or on a platform to support the network's operations and earn rewards in return. You can get stable coins, other coins or tokens, or even the platform's native tokens themselves when you stake.
3. Mining
If you have the technical knowledge and resources, you can participate in cryptocurrency mining to earn rewards for validating transactions and securing the network. However, mining can be resource-intensive and may require specialised equipment.
4. NFTs
You can make and trade unique digital assets like art, collectibles, or virtual land to potentially earn profits from their appreciation or through royalties. You probably need to join communities too, so you can have more success in NFTs.
5. Become a developer
I think this is the biggest challenge with the biggest profit if you succeed in mastering the skills of how to be a developer. There are many projects that need people to become their backend developers.

I believe there are still many opportunities out there that haven't been mentioned here. It's just things that I know are common in the crypto world. I hope it can help.
 
 
 

You can try staking and its idea is simple, which is that the currency that work on the principle of POS gives distributions every specific time in exchange for not moving your money and you can get a return between 2% to 15%, but I do not recommend it if you want to invest in Bitcoin as it is despite Good return, but the value of these coins does not rise well in the long run.

You can try trading which you may not need to be online where you can automate trading by trading bots.
Other than that, the buy-and-hold strategy works well.

In terms of current standing of the market. Trading is the most or fastest way in my opinion. Since you could barely take advantage of the volatility when doing trade daily. Passive income in crypto is quite a myth, but if you want a passive generation of it, then try staking which same with using your bank but with a higher interest. But for that you also have some risk of devalue your asset for holding unless you are ataking a stabelcoin which hold 4 to 10% income on different platform. But still low to have a profit passive income due to inflation.

Recently with this blockchain technology platforms are now widely accepting the use of cryptocurrency as a mode of payment if you want to adopt this in your business to support crypto at the same time becomes unique to the other store, but still this will appreciate only to the people who know and use cryptocurrency at the same time one of the perks of it is the transaction id becomes safe to make sure the payment really process but the problem is the market volatility. If you can manage to make earning in trading why not focus on it some people do this as a part-time or full-time to earn with the market price movement.
You can make your own crypto platform it varies on your choice may be a project related to a token, exchange and etc.

Have you tried getting a skill that's relatable to cryptocurency or blockchain in general. One of the best ways to benefit from the industry is to offer a service that you'll receive payment in Bitcoin or other tradable cryptocurency of your choice. With your skills or the service that you'll be offering, you can make both passive and active income. Let use the forum as an example, you can offer your service in the forum and get patronage both on and off the forum. If you're a designer, you can launch your ANN on the forum and start getting job offers. If you're good with community management, you can do the same and get patronized as well.

If you want to go bigger then you can take a course on blockchain and acquire a skills that you'll get paid for. There are so many projects looking for skillful people to hire to bring the best marketing to their project. You can spend some months to learn this skills and start been paid for it until you want to stop working for others and maybe develop your own app or projects for the market. Don't just depend on trading, mining or investing. Think bigger by equipping yourself with the necessary skills needed to take advantage of opportunities when they present themselves.

There are lots of opportunities that cryptocurrencies offer, such as the ability to be in charge of your funds through its decentralized blockchain technology, ability to trade through it's volatile market nature, ability to execute transaction across borders in less than few minutes and ability to earn passive income through it's peer2peer trading, which I recently just started on Binance and I have been making a few decent profit each day from my Naira to USDT buy and sell, whereby I normally charge #100 for a transaction between 5 to 8 USDT.

Cryptocurrencies are not a get-rich-quick scheme, so the process will obviously be slow unless you choose to invest in HYIPs and pyramid schemes where you are promised big returns for doing nothing at all that too in a very short period of time, but what you get at the end is an empty wallet with broken hopes and dreams.

Other than trading, one can use DeFi protocols to stake cryptocurrencies to earn interest but that is an even slower process than trading itself, and it has higher risks as well since you never know when a project or a protocol shuts down with your funds staked in it.

NFTs are nothing more than a sinking ship, it is not possible for anyone to create and sell NFTs or buy and sell NFTs to get profit. There are thousands of people who try to do that but only a few succeed in doing that since marketing NFTs is not a joke and you can barely find someone interested in buying your NFTs unless they are too attractive.

Only some brands or groups have got significant success in NFT marketplaces and individuals can barely get that much success since they can't find clients or finds it difficult to promote their NFTs or collections.

The first most important knowledge you should have, should be that of computer operation. Do you know your way around a computer if no one is guiding? How much do you understand about Blockchain technology?

Opportunities that abound in Blockchain would require the above questions answered first, because some basic skills that would set you apart, is that of programming and graphics design, web design. I wouldn't really talk much about coding because that is way too advanced and a different kettle of fish.
With this interest you can sure create opportunities for yourself and as you have joined this forum, you should be  introduced to the design section where designers get to launch their ANN and get jobs.

We have to explore beyond the normal NFT, trading and mining brouhaha and get the best from digital advancement, mostly as regards Blockchain and cryptocurrencies because they are simply what the future holds in grasp.

The decentralized system of cryptocurrency and blockchain technology removes many of the restrictions and obstacles in the traditional financial system, such as lower transaction costs, faster transaction speed and greater transaction freedom.

There are lots of things that crypto currency have to offer, in the world such things are as follows:

• Transfer of money from country to country are way faster unlike banks that will take-up 2-3 days depends on the bank sometimes
• Blockchain technology will help regarding running programs that will have less downtime or nothing at all depending on how they will use the technology
• Security since it will not be tampered that easily
• Fee's are much lower when transferring large amount of money with faster transactions like what i said from the start

There lots of thing that this technology can improve our daily lives and its right there waiting for us to discover it.