Promising ways to Earn Money during the crisis of 2020

28 MAY 2020 05:53

2020 already has scared by the coronavirus epidemic and a sharp collapse of markets. Although this unpleasant news could spoil the mood, you should not let them affect your income!

We are a team of the cryptocurrency exchange and we have been a long time into this. Our team members are entrepreneurs, developers and marketers who are dab hand at the creation of different income sources. Most of us have been engaged in cryptocurrencies because we found there great prospects and opportunities for professional development. So, we decided to systematize our knowledge and share it with readers. We collected the most popular ways to make money on cryptocurrency with a purpose to maintain the sufficient level of your income during the crisis.

Please, note that in this publication we will not touch on doubtful options that promise pie in the sky from nothing. Telling about how to make money on cryptocurrency, we will take into account such parameters as the labor costs, risks and potential growth opportunities.

If you have never dealt with crypto, you probably think that it is something very difficult, accessible only to super-smart people, developers or financiers. On the contrary, you can believe that cryptocurrency is a fiction, a financial pyramid and it is better not to contact it. Both of these statements are just delusions which we often meet among inhabitants.

Cryptocurrency is a very real asset (probably, you've heard about the most popular cryptocurrency - bitcoin?). But unlike usual money, the value of the crypto is not supported by gold and currency reserves, but it is supported by its basic technology, which is called the “blockchain”. A reasonable question, what is so good about this technology? Blockchain potentially allows you to transfer money around the world anonymously and without paying a fee to intermediaries like banks. At the same time, there is no single owner of the cryptocurrency (like the Central Bank for fiat money), which instantly can cause the currency rate slump by printing a new batch of “banknotes”. This is technically impossible with crypto because its production is recorded in a program that does not allow the "printing" of extra money.

Nowadays, the potential of the blockchain is brought to life only partly, although a large number of people around the world have already seen the future in this technology and they appreciated the prospects that lie in it.

A crisis is always an opportunity to occupy a new niche and to master new opportunities to increase income. Let's have a look at what the cryptocurrency industry offers. The team put all the cards on the table:

Cryptocurrency Investments

This is the most historically ancient and popular source to make income on cryptocurrency. Many people have enriched themselves by investing in bitcoin at its dawn when the first cryptocurrency was sold for a penny. In 2017, the price of bitcoin rocketed to $ 20,000 and gifted its investors with huge profits.

Investing requires in-depth knowledge of cryptocurrencies. This is necessary to sensibly assess the potential risks and benefits of various projects. This way of making money will work for you if you are ready to dive deep into the topic and take risks.

Summarizing on the increasing your income by investing in cryptocurrencies:

  • high income are possible with a reasonable approach to business
  • requires long preparation and “investigation” of the topic
  • high risks

Increasing your income on cryptocurrency forums.

The most active crypto forums today are Bitcointalk and Сryptotalk. All kinds of issues related to cryptocurrency are discussed at these sites. Also, teams promote their crypto projects there. You can help them by completing small tasks, like posting information about a project on your social nets, and get paid for it. But you need to consider that earnings depend on the “age” of your account on the forum and the so-called level of trust in it, which depends on your honesty and reputation among other users.

On the forums, you can earn by participating in the Bounty Campaign, Airdrop, Signature Campaign.

Bounty Campaign is an opportunity to receive rewards in bitcoins or other cryptocurrencies for the spreading of information about the project. Bounty organizers can also offer participants to make a translation of texts, moderation of topics on the forum and other PR activities.

Airdrop is the distribution of cryptocurrency for simple actions like making likes and reposts of information about the project on social networks. Unlike Bounty, Airdrop does not require special knowledge from participants and does not place high demands on their accounts. However, it is worth considering that the reward, in this case, is lower too.

Signature Campaign is the most profitable activity on the forums. Participants should attach to their account a signature with information about the advertised project and then, post messages in any other topics. So every message will consist of an advertisement that is attached. To participate in the company it is worth to have an “experienced” account.

By the way, the Cryptotalk forum pays a reward in bitcoins to its users just for writing messages. But the fee is quite symbolic - at the current rate, you can earn about $ 5 a day.

Summarizing on the increasing your income by cryptocurrency forums:

  •  does not require too deep knowledge in the subject
  •  no investment required
  • small income
  • quite a lot of working hours

Writing articles/translations about cryptocurrencies as a way to increase your income

If you have a writing talent and/or have fluent English, you can sell your services as an author. Although now all cryptocurrencies have slipped in price, the demand for information support in this area is quite high. Bloggers and authors are in demand. You can offer your services in the media or become a freelance writer, or create texts for crypto-project blogs. Media are ready to pay from $ 150 for quality material. The salary of the author of crypto blogs starts from $ 1000.

Summarizing on the increasing your income by cryptocurrency forums:

  •  decent income
  •  does not require money investments
  • high labour costs
  • deep knowledge on the subject is required
  • talent and skills in writing are required

Increasing your income with the help of cryptocurrency exchanges

Cryptocurrency exchanges are platforms where it is possible to earn money through cryptocurrency trading and participation in affiliate programs.

Crypto trading

The essence of crypto trading is to predict the course of a particular cryptocurrency and profitably sell/buy it. Income of crypto-trader is the difference between the rate of purchase and sale. To become a successful crypto trader, it is important to understand the “behaviour” of the cryptocurrency market, as well as to master trading algorithms. Besides, many traders use trading robots - special programs for automated trading, which means that you need to have at least minimal knowledge in programming.

The cryptocurrency exchange Orion Finance simplifies entry into cryptocurrency trading for beginners thanks to the “trading cabinet” option. Thanks to this option,the user does not have to go into details. In the trading cabinet, the user can delegate trading to an experienced trader. As a result, the user’s main task is the correct allocation of funds for trading and control of the trading process. Simultaneously, you can learn self-trading on the exchange.

Partnership programs

The affiliate program allows you to earn money for the actions of the customers that you have attracted to the exchange. Cryptocurrency exchanges offer such types of affiliate programs - attracting crypto traders via referral links and attracting projects that want to place their cryptocurrency on the exchange.

Attracting crypto traders is fairly simple money-earning. It is enough to place your referral link received on the exchange, in social networks or on any other resource (the audience of the resource must be interested in crypto trading). After that, a part of the trade commission of your attracted customers will be credited to your account.

The Orion Exchange transfers to your account 50% of the earnings from the trade of your referrals (people who have registered using the referral link). By the way, such a rate is quite high compared with other exchanges and can bring a rather tangible in income increase.

Increasing your income with the help of affiliate programs:

  • no special knowledge required
  • minimum labour costs
  • a good level of income in case of the attraction of a sufficient number of referrals
  • no investment required
  • the need for routine work to place a referral link

You can also offer exchanges your candidature as an agent for attracting projects that want to place their cryptocurrencies for trading. Your tasks will include the search for crypto projects and communication with them. To become an agent, you first need to find exchanges that offer cryptocurrency listing (placement), contact them and offer cooperation. Then you can start searching for the projects; you can find information about projects on crypto forums and in crypto ratings. The size of the agent’s reward may vary between  5-10%.

Summarizing on the increasing your income as an agent:

  • does not require deep knowledge on the topic
  • high income
  • no investment required
  • high time and labour costs

As you can see, it’s quite possible to find new sources of income even during a crisis. To make a profit in the cryptocurrency sphere, at least minimum knowledge of the topic is required. But, by plunging into the crypt and learning the basics, you will provide yourself with a long-term income and a promising way of professional development!