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Top 20 Best Ways to Make Money Through Cryptocurrency

Top 20 Best Ways to Make Money Through Cryptocurrency

By Rakel WanjiPublished 12 months ago 3 min read

Cryptocurrency has opened up various opportunities for earning money, but it also comes with risks. Whether you're a beginner or an experienced investor, here are some of the best ways to make money through crypto:

1. Long-Term Investing (HODLing)

Buy and hold promising cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

Research projects with strong fundamentals and long-term potential.


2. Trading

Short-term trading through technical analysis (day trading, swing trading).

Use trading platforms like Binance, Coinbase, and Kraken.

Leverage tools like stop-loss and limit orders to manage risk.


3. Staking & Yield Farming

Earn passive income by staking crypto in networks like Ethereum 2.0 or Cardano (ADA).

Participate in DeFi platforms like Aave or Uniswap for yield farming rewards.


4. Mining

Mine cryptocurrencies like Bitcoin using specialized hardware (ASIC miners).

Join mining pools to increase chances of earning rewards.


5. Crypto Lending & Borrowing

Lend crypto on platforms like BlockFi or Celsius to earn interest.

Borrow against your crypto assets instead of selling them.


6. Play-to-Earn (P2E) Games & NFTs

Play blockchain-based games like Axie Infinity or The Sandbox to earn crypto.

Trade or create NFTs on platforms like OpenSea.


7. Airdrops & Bounty Programs

Participate in free token giveaways (airdrops) from new crypto projects.

Complete marketing tasks or testing for crypto rewards in bounty programs.


8. Building & Investing in Crypto Startups

Create your own blockchain-based project or startup.

Invest in early-stage crypto projects through ICOs or venture capital.


9. Running a Masternode


Support blockchain networks and earn rewards by running a masternode (e.g., Dash).


10. Affiliate Marketing & Content Creation

Promote crypto projects and exchanges through affiliate programs.

Start a blog, YouTube channel, or social media page focused on crypto education.


Each method comes with its own level of risk and reward. Diversification, proper research, and risk management are essential for success in the crypto space.


11. Earning Through Airdrops and Forks

Receive free tokens from blockchain projects distributing tokens to promote adoption, or benefit from forks that split existing coins. While free, these tokens might have little value or liquidity initially.


12. Crypto Cashback and Reward Programs
Use crypto credit/debit cards or participate in programs that offer cryptocurrency as cashback for purchases, combining everyday spending with crypto earnings.


13. Affiliate and Referral Programs
Earn commissions by referring new users to crypto exchanges, wallets, or platforms. Many companies offer incentives for each sign-up or trade completed by your referrals.


14. Accepting Cryptocurrency Payments for Goods and Services
If you run a business or freelance, consider accepting crypto payments. As digital currency adoption grows, you may benefit from early acceptance and potential appreciation of your holdings.


15. Content Creation and Influencer Marketing

Start a blog, YouTube channel, or social media presence focusing on crypto education, news, or analysis. Monetize your audience through ads, sponsorships, or donations in cryptocurrency.


16. Developing Decentralized Applications (dApps)

If you have technical skills, build dApps on platforms like Ethereum or Solana. Successful dApps can generate revenue through transaction fees, token sales, or other monetization strategies.


17. Non-Fungible Tokens (NFTs)
Create, buy, or sell NFTs. Artists and content creators can monetize their work, while collectors may profit from the appreciation of unique digital assets.


18. DeFi Derivatives and Synthetic Assets
Engage in trading or investing in synthetic assets and derivatives that track the value of real-world assets. These platforms can provide leverage and yield opportunities but also carry high risk.


19. Crypto Funds and Indexes

Invest in crypto-focused funds or indexes managed by professionals. This option may provide diversified exposure to the cryptocurrency market without having to manage individual assets directly.


20. Participating in Decentralized Autonomous Organizations (DAOs
)
Join DAOs that offer token-based governance and revenue-sharing models. Active participation may allow you to influence decisions and benefit from collective profits.




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Key Considerations:

Risk Management: Many of these strategies come with high risk. Always be prepared to lose some or all of your investment.

Security: Use secure platforms and hardware wallets to protect your investments.

Research: Stay informed about market trends, regulatory changes, and new technologies.

Diversification: Don’t put all your funds into one method or asset; diversification can help mitigate risk.


By exploring these avenues, you can decide which methods align best with your risk tolerance, expertise, and investment goals. Happy researching and stay cautious!

economyinvestingpersonal finance

About the Creator

Rakel Wanji

let's learn and grow together 😉

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