Mainstream media will want you to think that everything is okay and that the jobs markets are doing okay. In reality though, things are looking all that great according to many analysts. The FED Jobs report is coming out at the end of the week, and may are predicting some not so great numbers. Many companies are cutting hours to try and keep people, and some are justing being laid off entirely. So it’s important to know that leveraging blockchain to earn in tough times can be your savior! Let’s get into how you earn some crypto, even starting part time!
Hive Blockchain Content Creation
Becoming a content creator on the Hive blockchain is a great way to get started earning in the cryptocurrency space! Write, share, and engage to earn crypto rewards. It’s like the social media scene, but cooler because you are talking with real people across the world, your mother and grandmother isn’t here, and you get rewarded with crypto perks.
This is my primary form of income at this time. Becoming a content creator on Hive breaks the earnings barrier that many mainstream social networks that pay. For example, YouTube requires you to have a certain amount of subscribers and a hard to reach minimum amount of watch hours to be able to qualify for their partner program. Well, someone who comes over to Hive and posts on 3Speak.TV, known by the username @threespeak on Hive, which is the main video platform for the blockchain, you can start earning right away!
When you post content like videos, blogs, and even short form content on sites like InLeo formerly @leofinance, or the D.buzz app, the global community of users will be able to see your post and if you get upvoted, based on that user’s Hive stake, you get paid a percentage of the rewards pool! If your post catches enough eyes, or big whale stake eyes, you can earn some serious money on your content!
Even though mining is less of a gold rush these days, if you’ve got a beastly computer and cheap electricity, you could still snag some crypto coins. Personally, I still mine Monero on all my computers. Monero is the king of the privacy coins and has a unique mining algorithm that rejects ASIC miners, which is an application specific computer that only does one job, like mine Bitcoin.
These machines are extremely expensive and is out of reach for most people. On the other hand, Monero is a coin that allows anyone with a computer to mine put your hardware to work, mine with your CPU and earn some crypto! There are others out there that you can mine with you personal computer, you just need to do the research to find the coins that are best for you and your equipment.
Lock up some of your crypto in Proof-of-Stake (PoS) setups. You chill, and your wallet grows as you help validate transactions. Easy money vibes! There are many blockchains that pay to stake your coins. Hive is one of them. Staking Hive allows you to not only earn from inflation, but you also earn for participating in the network through post curation. This is liking and sharing posts. Your Hive stake gives you a bigger upvote on posts and in witness, or validator governance.
Other crypto platforms like the Cosmos ecosystem are heavy staking. Many tokens in the Cosmos ecosystem pay really high rewards for staking. So scoop up some coins, stake them in your wallet, and get paid! For me, I like to flip some of the smaller coins that I earn into the bigger cap coins to minimize my risk in the markets.
Diving Into Liquidity Pools
Get a little wet in the DEFI world by diving into decentralized exchanges (DEXes) and tossing your crypto into liquidity pools. Now you won’t really need to go swimming, but this can be a great way to earn some crypto rewards. Traders give use your liquidity to make their trades, and you pocket fees for keeping your money in those pools. Basically you are earning a part of the exchange fee, which can be lucrative in markets with a lot of volume. In many cases, you also earn rewards from the DEX itself for providing liquidity. And that leads us into the next topic…
Become a crypto farmer! Yield farming is you lending or staking your coins and earn interest for it, and some really good interest in some cases. Like I said in the last section, providing liquidity to pools is one way of farming when the DEX provides rewards for using their exchange over another.
Let’s look at the CAKE token for example. If you provide liquidity to any of the swap pools on the Pancakeswap exchange, you will earn not only exchange fees, but CAKE token rewards as well! Some pools pay more than others so you may want to do your research to figure out what pool is best for you. But this is just one of many examples.
There are other platforms like Compound Finance or Aave where you lend your tokens for others to borrow and you earn interest like the way a bank operates, except you are in control of your funds and can move them at anytime, unlike a bank, haha.
Flex those creative muscles create some cool art, music, or really anything and sell it as NFTs. It’s like making digital collectibles that could earn you some serious moolah. You can use marketplaces like Opensea, NFTShowroom on Hive, Atomic Hub on Wax and many others to sell your work as NFTs on various blockchains.
Many people love collecting these digital pieces and will even trade them on the markets. Think of it as being apart of the digital art trading world. But it’s not just about art, NFTs are making waves in many other industries like real estate, physical art, and beyond, giving owners tokenized ownership over real world items. NFTs can be a great way to get into a crypto side hustle!
Gaming isn’t just a pastime; it’s a gig! Dive into blockchain games that let you earn crypto or NFTs by conquering quests, battling, or leveling up in the game. Games like Splinterlands lets you not only earn for playing, but you can also trade your assets on the internal market, rent your cards to other players, and even stake and earn their governance token. These features basically greats a full economy around a game!
Then you can take that and post your play to earn videos, streams, or results to the Hive blockchain and earn even more crypto… Just saying.
Freelance Crypto Style
Put your skills on the table on platforms that pay in crypto. Whether it’s writing, designing, coding try and get your clients to pay you in crypto. For me, I tend to stay in crypto circles and put my WordPress building skills out there for sale, but I only accept crypto payments. This could also lead to some cool educational opportunities by showing your clients how to buy crypto and send it to you. The Cash App is great for this.
Earn some crypto by using crypto based e-commerce platforms like Hivelist, Monero Market. These two platforms allow users to sign up and sell their items and get crypto in exchange! Both act as escrow services which adds a layer of consumer and vendor protection to make sure the transactions happen without an issue.
You could also create your own e-commerce store on platforms like WordPress and WooCommerce where you have many different payment options for accepting crypto payments. There are other platforms like Shopify that allow you to accept crypto payments, but some may convert it to USD or other fiat currencies for payment. If you are building your own site, you may want to build in more direct to wallet payment options though to keep more control over your funds versus using third parties. I say this out of experience.
Just a heads-up, though – the crypto world is like a gnarly wave; it can wipe you out just as quick as you can ride it. Before you dive in, do your homework. The market’s wild, and values can nosedive faster than you can say “blockchain.” Stay sharp and make sure to keep your risk at a minimum. You can earn a really good living by leveraging blockchain to earn during tough economic times, or during good times, you just have to be smart about it! Hopefully this article can help you get pointed in the right direction in your blockchain and cryptocurrency journey.