Cryptocurrencies treated as digital novelties a decade back have grown into a trillion-dollar market today. Invented to overcome the supervision of authority over traditional financial tenders, blockchain-based Cryptos have served the purpose and much more. The focus of this post is to let people know what matters to them the most. Yes, it is about five simple yet productive avenues to earn money from the crypto market.

Whether you’re an accomplished player or a newcomer in the crypto market, there are numerous ways to reap money from the crypto market. If you are looking for a detailed blog on a crypto investment strategy, read the full article.

Making A Living Out Of Cryptos

It is not that people with deep pockets only enter the crypto market. Common people who wish to make a living out of cryptos are also players in this market. So here are some ways to make a living out of cryptos.

By Investing in the Crypto Market

You can invest in cryptocurrencies. The price moves up and down as these currencies are highly volatile. You earn by purchasing at lower prices and selling them at higher prices, just like purchasing and selling stocks in the stock market.

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You can hold investments in cryptocurrencies for long periods (Long-term holding or Hodling). This way, you can offset the effects of the high volatility and fluctuations that are typically experienced in cryptocurrencies. However, when you plan to hold crypto for the long term, go for popular cryptos. Go for currencies that are utility-based and avoid hype-driven tokens. Due to their remarkable growth over time, Bitcoin and Ethereum are the most widely held coins for long-term holding.

Most new investors with less experience in the cryptocurrency market prefer to hold for a long time. Holding is easy; all that one has to do is buy a popular cryptocurrency and hold it for long. Holding requires minimal effort. However, you need to research or speculate how the crypto may perform in the long run. The idea is to hold until the investor breaks open.

You can also invest fixed amounts in cryptos at regular intervals (Dollar-Cost Averaging or DCA). In such investments also, the effect of market volatility is offset.

Staking Cryptos To Earn Money from Crypto Market

Staking works like the money locked up in your bank. The money you keep in a bank earns interest for you. Likewise, the crypto you keep at a staking platform or in a wallet earns you either rewards or interest. The advantage of staking cryptos is that one does not need any trading skills to make money. One just needs to park their coins and earn passively.

Playing Blockchain Games To Earn Money from Crypto Market

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Today, many video and internet games are based on blockchain technology. You can enjoy playing these interactive and immersive Web3 games and also earn cryptocurrencies. These games consist of digital players or avatars that compete with others. You control and run these avatars, and on winning a competition or completing a task non-fungible tokens (NFTs) are awarded to you.

In some games, you can optimise the ability of the players to compete or do other activities. Some games even allow you to create and own in-game digital avatars or other assets and even NFTs. Some popular play-to-win games are Axie Infinity, Decentraland and many more. You own these in-game items and can sell or trade them in the crypto market and earn money.

Much like regular cryptos or meme coins, these tokens sell for high prices based on the market buzz that they create. However, it is essential to choose the right token, and it is essential to choose a token with good tokenomics. Several aspects of tokenomics include the supply of tokens. Some developers burn tokens as a strategy to reduce the total tokens in circulation and increase the demand/price of the tokens that remain in circulation. Further, the token distribution strategy also matters. It is vital to check what percentage of tokens are allocated to developers, advisors and the community.

In addition to earning in-game tokens, players can also generate income by minting NFTs within a game. NFT flipping involves selling these minted NFTs on the market at a higher price to make a profit. So, if you intend on earning via in-game NFTs, start playing a game that offers NFT cosmetics/ attributes for in-game characters.

By Keeping An Eye On Airdrops

There are airdrops declared by DeFi projects to promote their new projects. For instance, a DEX (decentralised exchange) may decide to release a new version of its native token. In such cases the DEX can airdrop some of the initial tokens for its existing loyal customer base.

Airdrops are also done for others in the crypto world, and you only need to share your digital wallet address to get the tokens. Airdrops are a great way to gain tokens easily. In most cases, all you have to do is give your wallet address and click on ‘click airdrop’ tab. However, when you opt for airdrops, ensure you are using a bona fide site, as some sites are fraudulent and attempt to steal personal information.

By Providing Liquidity or Yield farming

In many cases the short supply of the right kind of cryptos may hinder many transactions in the crypto market. Hence, if you provide liquidity to decentralised finance (DeFi) platforms by depositing cryptos you own, you get interest or tokens. Thus, you can earn passive income by letting your crypto do all the work for you.

Final Words

The yearning to earn from the crypto market is in keeping with its utility and popularity. The majority of people trade in cryptocurrencies as their value generally changes in a short span to earn money from the crypto market. Therefore, this blog has not discussed that avenue. Though many people know about other various ways to generate income through cryptocurrency, the majority are unaware of many simple, less risky and affordable avenues. Another simple method of earning is crypto affiliate marketing and referrals. However, the crypto market is progressing fast. Innovations are being made every day, and simultaneously, new opportunities for earning are being created.