5 Crypto side hustles in 2022 : Make you good amount$$$

in crypto •  2 years ago 

BUY OR CREATE NFTs
Non-Fungible Tokens are hot. They’ve been popping off while global markets perform terribly. Watch more celebrities and athletes hop on the Bored Ape bandwagon this year. Buy an inexpensive NFT just to learn, and observe how factors like community, utility, and scarcity are monetised.

NFTs have put the power to earn back in the hands of creators. Everyday a story appears about kids who have made stupendous wealth selling NFTs. Such as this kid who drew whales, or this kid who took selfies.

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EARN BY PLAYING GAME$

Another way to earn crypto is by playing play to earn games such as Axie Infinity.

If you are unfamiliar with Axie Infinity, it is a blockchain game where players earn rewards in a form of cryptocurrency tokens, which can then be exchanged for real money.

There are few ways you can earn from Axie Infinity:

$ Farming SLP and selling them for real money
$ Breeding and selling Axies
$ Starting your own scholarship
$ Investing in Lunacia Land
$ Trading SLP and AXS

There are reports of people earning thousands of dollars a month in in-game token SLP playing Axie Infinity.

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TRADING CRYPTOCURRENCY

Another way to use crypto as a side hustle and earn extra income is by trading cryptocurrencies. Cryptocurrencies have a high volume, and are operational everyday, so you can trade cryptocurrencies anytime you want.

If you are familiar with technical analysis and charting patterns, cryptocurrencies may prove to be a valuable trading playground for you.

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CRYPTO LENDING

If you have some coins lying around, an easy way to make a passive crypto income from them is to lend them in exchange for interest. There are several ways to do this, starting with lending some cryptos to a friend, family, or other acquaintance you trust will pay you back. You can also use an online peer-to-peer lending platform to help you invest your cryptos by finding borrowers and protecting you from scams.

Today, a fairly new concept is decentralised finance, which lets users lend and borrow money safely without getting banks involved. These usually work by letting the borrower who needs physical money (fiat currency) put a set amount of crypto as collateral. After that, as an investor, you lend them the money, and when they pay you back with interest, the borrower gets his cryptos back. However, if the borrower defaults, you’ll get the collateral cryptos instead.

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BUYING CRYPTO AS LONG-TERM INVESTMENT

Investing is all about passive income. You buy assets today in the hopes that they will increase in value in the future so that, when you sell, you make a profit from the difference. In the meantime, all you have to do is wait. Many savvy investors have been focusing on very popular assets for a while – cryptocurrencies.

To successfully invest in cryptos, you have to start by learning all you can about cryptocurrencies, blockchain, exchanges and everything relevant to the crypto market. Then, you need to choose a good crypto exchange where you’ll be able to buy and sell your cryptos. Once your account is set up, you simply buy coins in the amount you want to invest and hold them until they increase in price.

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