June 8, 2021

This is the last part of my mini-series article about how to earn money at crypto space with a vivid explanation about how to do it and what are their associated risk.

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Why do I have to make it a series? Well I wanted to elaborate each ways, so newbie reader's can have a clear picture on their minds on what to do and what to avoid. Sharing little knowledge from my experience is a great pleasure to me. I may not be able to guide a newbie one by one but by compiling guides, I can help as long as they are willing to learn. Enough for self explaining let's jump into the last part of this series.

Ways to earn money at crypto space

There are only 3 ways left that I am going to discuss on this article probably one of it is a complex matter that needs to be understood and learned deeply for a long period of time.

In this article I will discuss the following;

• Betting Game/ Crypto Gambling

• NFT (Non-Fungible Token) collection, be an artist then trade.

• Trading- Spot Trading, Margin Trading

➡️ Betting Game/ Crypto Gambling

Image Source: timesofcasino.com

Some crypto people are into betting or gambling. Some bets on sports and some are on online casino and used Bitcoin or any cryptocurrency that is accepted on that particular gambling site.

There are a lot of betting sites that uses cryptocurrency as a bet and as a reward for the winners, I have a friend that is into this he is betting on soccer game and used Bitcoin Cash as the bet and also he will get BCH upon winning the bet.

Mostly cryptocurrency accepted by crypto gambling sites are BTC, BCH, ETH, XRP, LTC, XLM, DOGE and USDT.

How to earn money through crypto gambling?

• Find a credible gambling sites that accepts Cryptocurrencies.

• You can search it in Google just type “crypto gambling sites” and there are several articles that will lead you to the gambling sites.

• You need capital for this of course, it's gambling.

• Make sure you know what you are doing, or you know how to play online casino if you like playing casino. If you are into betting on sports make sure you know how to spot the winning teams or individual player, of DYOR some tricks how to do it. (A friend teach me how to bet on soccer game, it's just that I am not into gambling and I don't have much time to spend on it).

• Once you know how to bet and play online casino using crypto, you will earn real money from that.

Risk on betting and crypto gambling?

You know gambling is very risky, it's a game where winning and losing is inevitable. Aside from that people who are usually into gambling are suffering “gambling addiction”, you should know how to control your greed in terms of gambling, because usually when greed overpowered your entire being you'll end up losing.

➡️ NFT (Non-Fungible Token)

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Aside from DeFi popularity, NFT or Non-Fungible Token is also rising nowadays. There are a lot of people coming into crypto because of this NFT waves, especially those who love arts. Not only crypto people are into this NFTs thing, some celebrities and well known personalities are endulging in this NFT craze.

There are two options where you can make money via NFT's, if you are artistic and loves to do art you can be an NFT artist or if not then you can be a collector. There are a lot of NFT free drops where you can get it for free, then sell it.

How to earn money via NFT?

• First you need to know what blockchain you want to participate in making or collecting NFT. There are several blockchain where NFT runs, such as Ethereum, Bitcoin Cash, Wax, BSC and more. (Personally, I only know WAX and BCH which is the Juungle.net)

• If you are artistic enough you can be an NFT artist and mint your art into the blockchain and sell it. For Juungle net that runs on Bitcoin Cash blockchain, you can follow @Constant1995 @carisdaneym2 @Ruffa they can help you how to be a Juungle artist and mint your art. While on Wax you can follow @bmjc98 she can guide you because she's an artist in there, @Crackers for his meet the artist series are all from Wax, he might know a little bit how to mint art in wax.

• You should also be active with the community so you can have some supports to your fellow artist and the whole community. They will be your buyer.

• If you finally mint your art, you only have to wait if someone will buy your arts. Or you can do free drops to gather some supports first before doing a paid drops.

• While on Juungle it's pretty simple after minting your art, you just wait for someone to buy it. Those I mentioned above already earned money or BCH by doing buy and sell of NFT.

• If you don't know art at all you can also earn and be a collector, you can get free drops especially on wax, you need to have Twitter, Telegram, Discord for you to joined the artist channels or catch some free drops and giveaways in Twitter.

• Every art you collect has corresponding value depending, once you sell it the money is yours.

• It's not typical money yet, if you are in Wax you have to trade it first before turned into money, Wax is tradable at KuCoin.

• While on Juungle you earn BCH and will be sent on your account wallet.

Risk in joining NFT?

Well, if you chose Juungle.net the risk is that you cannot have return on your capital buying those NFT's if nobody will buy it. Just like me I have $30 buying Waifus and until now I haven't sell it yet 🙈

Unlike Wax there are a lot of free drops where you don't have to spend your crypto buying it, but there are a lot of collections that has very low value especially if the artist is not known.. it's also needs time because you have to keep up just so you can get some free drops.

While I don't know about other NFT blockchain how it works, so just DYOR if you want to know more how to make money on NFT's.

➡️ Trading (Spot Trading or Margin Trading, or Options Trading)

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Last but not the least where you can make money in crypto is TRADING. This is the most common way of earning money on crypto, but this is also the hardest part. It comes with greater risk but also greater rewards if you know how to do it.

There are several ways of trading, the spot trading, typical buying the asset at low price then sell when it rise, there is also Margin trading (futures) this one comes with leverage wherein you borrow on a coin in Exchanger to make your capital bigger. Futures is predicting a certain coin whether it will rise in value or not. While option trading will allow investors to buy or sell asset at specific time and date.

How to earn money via trading?

• First you need a capital for this investment.

• Second you need to learn the basic, the buy low and sell high. Once you buy low and sell high you can make real money from it.

• Learn how to plot or spot support and resistance. You need to know this for you to make an entry and exit of your trade.

• Learn to read chart, read candlestick and trading indicators

• Know the coin fundamental before buying it. Do not buy shitcoins that is susceptible for pump and dump, especially on BCS full of shitcoins.

• Avoid FOMO (fear of missing out when the price goes up) and FUD (fear uncertainty and doubt) when the price keeps going down. Never sell unless you are in leverage then cutloss is a must.

• If you look for a less risky trade chose SPOT TRADING the simple way of trading buy the asset at low price then sell when it rise.

• Once you master trading you will earn real money on that.

Risk association in trading?

All trading methods have different level of risk.

Risk in spot trading is that when the coin price dumps big time, it will take time to recover. You need to hold it and never sell, in spot trading you will never loss unless you sell at the lowest price. Avoid FUD so you will not lose your investment.

Futures trading has the higher risk due to liquidation, if you use high leverage then it is very susceptible for liquidation. So avoid using high leverage. Learn how to read indicators first before jumping into futures trading.

Related Articles;

https://read.cash/@Eybyoung/different-ways-to-earn-money-at-crypto-space-and-their-risk-9880cece

https://read.cash/@Eybyoung/learn-how-to-make-money-at-crypto-space-and-know-their-risk-f2c1fbd4

Closing Thoughts

Over all, I covered 9 ways how to earn money at crypto space. The catching airdrop, blogging, yield farming or staking/lending, playing crypto games, claiming faucets, Token Pre-sale, betting and crypto gambling, NFT's and trading.. those are the ways I have seen how to earn money at crypto space.

If I missed something you can hook me up and I'll do my best to find answers about it.

I hope newbie learned something from this mini-series and find what suits them best.

Thank you for reading!