The crypto space offers various ways to make money, and it’s important to have knowledge and skill in order to do so.
Here are ten ways to make money in the crypto space.

Trading and Investing

This requires a lot of research and knowledge, and it’s important to remember that it’s a journey and not a get-rich-quick scheme. 

Learn technical analysis, keep up to date with the latest news and events, control your emotions, manage risk vs reward, and create your own trading plan and strategy.

Learning and building confidence as a trader takes time. It’s very important to be in the right mindset, you can Download NOW my Trader’s Mindset and Guide if you need help figuring out what type of trader you are as well as learn how to create your trading plan and strategy. Sometimes it can take years to figure all this out. If you want to learn more about trading and investing as well as receive proper guidance from professionals from different financial sectors, you  can check out PN and friends international investment and financial education community, they provide learning resources, market alerts, stocks, crypto, real estate and NFT’s sections with updates from professional analysts and keep you up to date with all relevant information and much more.

Staking

By joining staking pools, staking on your own, or staking on an exchange  you can earn crypto rewards. Research different crypto currencies and their Annual Percentage Rates.
POS (proof of stake)  is a consensus mechanism that creates blocks on the blockchain, validates transactions, and keeps the network secure.

When you stake you are basically helping the network and are being rewarded for your contribution to the network.  You can stake on exchanges or on your own, which might be a little bit technical to set up if you haven’t gone through the process before. All in all, staking is the process of holding and locking a certain amount of a specific cryptocurrency in a wallet, staking pool, or on exchange. To access staking, go to Earn area on an exchange of your choice.

Mining

 You receive cryptocurrency rewards by mining and validating blocks on the blockchain and helping to secure the network.

The more hash rate or hash power your mining equipment has the higher the probability of receiving more frequent rewards.

 This can be costly and requires a proper environment, low temperature, proper ventilation, stable internet connection and a lot of electricity.

Setting up a mining rig can be quite technical and requires a lot of research around different algorithms and coins that can be mined for a maximum return. You need to make sure that your internet electricity and environment is stable to ensure the most up time and don’t miss out due to electricity ,internet outage or other problems which may arise. 

It’s important to choose a reputable mining pool and join other miners to reap the most rewards. Binance Pool offers POW mining, Cloud Mining, Pool Savings and much more.

P2E Play-to-Earn Crypto Games

This is another way to make money in the crypto space, and it’s important to take advantage of games that have done well in the past. 

The first P2E collectable game was Crypto Kitties launched back on 28th November 2017.
P2E Games category is growing at a fast pace and there are more and more games launching as the world of crypto expands. Some of the most popular games in the last bull run were. Axie’s Infinity, Decentraland, Sandbox, Gods Unchained , Chained Guardians to name a few. 

Axie’s Infinty had a lot of hype, where many users even quit their jobs as playing the game was more profitable.

Flipping NFT’s

NFT’s will make a comeback next year and it’s important to understand how to find reputable NFT collections and stay away from rug pull NFT’s. You will need to learn how to set up a Meta Mask wallet, find reputable NFT’s, buy and sell them for a profit. Some of the most popular NFT marketplaces are Binance, OpenSea, Rarible, Nifty Gateway, Superrare, SolSea, Altura, Epik, and many more. 

Never fall victim to the hype because an influencer or celebrity is promoting an NFT collection; instead, learn how to analyze NFTs, their utility, cause, roadmap, or if it’s just an art collection, and determine if it’s a good investment. There are many ways to obtain Free NFT mints or get free NFT’s, the process is similar like an airdrop for different cryptocurrencies. There are dedicated websites where you can join NFT raffles, airdrops, and giveaways. Of course, it’s very important to learn to differentiate between a good project and a scam one.  Join the PN & Friends community if you want to learn more about NFTs and have access to NFT analysis and links to enter free NFT raffles that PN & Friends NFT analysts have deemed good and safe projects.

Liquidity Pools

A liquidity pool is a pool of assets (often cryptocurrencies) that are used to provide liquidity to a trading platform or market. In the context of blockchain and decentralized finance (DeFi), a liquidity pool is a collection of assets that are locked in a smart contract and used to provide liquidity for trading on a decentralized exchange (DEX). To provide liquidity to (DEX) go to the Pool area of the (DEX).

For providing liquidity you will earn interest + transaction fees.

Liquidity pools are created and managed by individual investors, who contribute assets to the pool in exchange for a share of the pool’s tokens. These tokens represent the investor’s share of the pool and can be traded on the open market. The value of these tokens is tied to the value of the assets in the pool.

If you are using (CEX) centralized crypto exchange, go to the Earn area of the exchange of your choosing, then pick Liquidity mining,  liquidity farming or liquidity pool. You must first have the coins of your choice (the pair you will provide liquidity to, for example BTC/USDT) in your spot wallet before selecting a pair to which you want to provide liquidity and adding either both or one of your preferred cryptocurrencies.

Please make sure you have read the risk statement because adding to liquidity pools carries its own set of risks and each platform may have different rules when it comes to Liquidity Pools Farming or Mining.

Airdrops

Coinmarketcap used to be one of the main, reputable places to find out about airdrops but the last airdrop was on 26th December 2022 and currently without upcoming airdrops as a few projects accused CMC of fraudulent activities when it came to airdrops, resulting in an ongoing investigation. As of now there are no updates if the SaAT airdrop was hacked leading to over 20900 addresses receiving an airdrop and quickly sending it all to 21 different addresses,  selling off the SaAT token and eventually crashing its price by 70%.

While CMC (Coinmarketcap) is still one of the top ranking websites for cryptocurrencies, NFT’s stats, exchanges and a home to one of the biggest libraries Alexandria where you can keep updated with news, educational content, trading analysis and much more, being the most reputable in the industry, and every crypto enthusiast go to. I am sure that pausing airdrops for now, is only a preventative measure.

Launchpads

 A crowdfunding platform for startup blockchain companies, where you can participate in crowdfunding through ICOs and IEO rounds.

A cryptocurrency launchpad is a crowdfunding platform for startup blockchain companies. Where you are able to participate in crowdfunding which is done through  ICOs (Initial Coin Offerings) rounds and IEO (Initial Exchange Offering)  Launchpads facilitate the sale of the new coin to investors and aid in the promotion and growth of related communities and related projects.. Some of the launchpads are on some of the biggest crypto exchanges.  Binance Launchpad, OKx , Kucoin, and some decentralized launchpads include Polka Starter , DAO Maker, Enjin Starter, Seedify, and many more.

As always, make sure to choose a reputable launchpad and do your own research when investing in a new crypto startup. 

Referral and Affiliate Programs for exchanges, projects, crypto communities.

Refer friends and family to crypto platforms and earn a commission.

If you sign up to a crypto exchange such as  (Binance, Huobi, Bybit, Okx, Gate.io) they will provide you with a referral code where both you and whoever uses your link and deposits a specific amount of money into their wallet depending on an exchange’s specific requirements to qualify, this amount can be $50 and higher, is going to have account perks and bonuses.

Affiliate for crypto projects, especially new startups, where if you bring more investors to their community, you will receive rewards or be in an invite competition, keep an eye out on new projects launching through Exchanges, Launchpads, Twitter and  BitcoinTalk and join their community to enter invite competitions and other giveaways. 

Crypto communities or financial education communities such as PN and Friends also have a program available to their members along with digital and affiliate marketing coaching. Pn & Friends is an active international education community with focus on financial education for stocks, real estate, crypto, NFT’s, affiliate and digital marketing and more.  To find out more about their program you will have to become a VIP or a Diamond Member. 

There are many more ways to earn money in the crypto world, and I go into greater detail about them in addition to the ones listed above in my upcoming book, Introduction to Cryptocurrencies and Resources.