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Making Money With Blockchain Technology



Making Money With Blockchain Technology

In January 2011, $100 USD could buy you 333.33 bitcoins, but in April 2019, that exact same investment would be worth more than $1 and a half million, adjusted for inflation. Though there are far more ways to capitalize on blockchain than just buying bitcoin or other cryptos.

One way is to invest albeit not directly into blockchain but rather into businesses and companies that you believe will benefit materially from the new and upcoming technologies. Some of these technologies include mining and trading enablers, which provide the “picks and shovels” for crypto mining, blockchain-as-a-service, which provides cloud-based blockchain solutions or consulting services, blockchain users, and emerging industries and disruptors.

Another way to make money off of blockchain is to use investment tools – here are some for the average investor. Exchange-traded funds, which are investment funds focused on blockchain tech, exchange-traded notes, which links to the market price of a certain cryptocurrency, digital asset funds, and futures, specifically CME Group’s BitcoinFutures Contracts to name a few.

Other than bitcoin, there are other crypto asset classes that do many other things other than representing money. Those would be cryptocurrencies or coins. Some others include security tokens, or asset tokens, which are ownership shares in real-world assets. Utility tokens are tokens that grant access to a product, a service, or a platform. Finally, non-fungible tokens represent a unique digital asset or collectible.

But in order to buy and sell crypto, which had made many people millions, there are some tricks are utterly necessary to making money with crypto. “HODLing” started as a typo in the bitcointalk forum, when someone tried to type “hold”, but the name stuck. “HODL” now means “Hold On for Dear Life” and it refers to buying and holding crypto for a long time rather than trading or selling immediately. And if you are looking to invest in cryptocurrencies, try these ways to get free coins. Some blockchain projects give away free tokens to create awareness or to reward loyal customers. In fall 2017, Binance airdropped 500 TRX coins to active users holding at least 0.003 BTC in their wallet. Bitcoins faucets reward its users for their attention or actions with small amounts of BTC. In 2010, Gavin Andresen created the first Bitcoin faucet, giving 5 BTC to each visitor. Learn about new currencies by watching videos and earn crypto taking the time to learn about crypto.

The blockchain economy is here to stay. Learn how to make money as an active participant. Mining a cryptocurrency can be difficult, as in the case of Bitcoin and others, but some can easily be mined, some from a standard computer or laptop or even a smartphone. You can also make money using decentralized apps or dApps. Some predict future outcomes for major upcoming events, some are games to play and trade collectibles and you can give your computer a side hustle, renting out your spare hard drive space and bandwidth, or CPU, GPU, and RAM. You can even create your own virtual land and create, experience, and monetize virtual content, assets, and applications.

Find out more ways to capitalize on blockchain here.

Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency , based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-present and joined the SXSW Advisory Board in 2019. Follow Brian Wallace on LinkedIn as well as Twitter.