Cryptocurrencies have made a lot of people become financially independent despite it still being a very new technology. Most of the people making many in the space are crypto traders or crypto holders. A crypto holder is someone who buys a cryptocurrency and holds it hoping its price to increase before selling for profit. Others prefer to actively trade it. They buy and sell crypto assets usually on the same day based on offer and demand on the market.

While holding or trading crypto can have huge financial profits, the volatility in crypto is a real risk not to underestimate. The volatility in price movement can make you lose money in a matter of weeks, days, or even minutes. Some riskier people see volatility as an opportunity than a bad thing. That's because they have learned the skills to become better traders. It could take years of learning, plus many trials and errors to become a good trader, but even good traders are not immune to the risk of trading.

Some folks do not like the risks and that’s ok. Losing money is never a good thing. If you are one of those people who know the potential of cryptocurrencies but are worried about trading them, the good news is that you can still profit from the technology without directly buying it!

Below are some activities you can explore to build an income coming from the crypto industry.

Blogging about cryptocurrencies

Blogging can make you a lot of money in the long term. It will take some time to monetize a blog though, because you will need to build an audience and be able to rate higher in Google search. That shouldn’t be a problem if your primary goal for blogging is not making money right away.

If you blog because you personally love cryptocurrencies and want to share your knowledge with others, you will do it no matter how much money you get from it. If your contents are useful and helpful, then people will read it. The more people read your content, the more your audience will grow with it. If your blog has an increase in monthly viewers, advertisers will be interested in paying you to display ads on your pages or to write sponsor content for them.

In the long run, you could make at least $1000 to $5000 per month with only display ads revenue and other source of revenue! If you are successful in what you are doing, you could eventually end up working full-time on your blog and have time to share valuable content for your reader!

Blogging platform like Pulish0x has a better revenue model than many other platforms like WordPress. Here on Pulish0x, readers can tip you right away after reading your content. No need to wait for some metrics that would determine your eligibility to receive revenue.

If blogging is what you want to do, you need to make sure you are doing it for the love of it and the love of sharing ideas with others. The real money will follow as you grow your audience. It will all depend on how often you write new articles and how fast your audience is growing. But if you are doing it as a hobbit and for the passion, you could end up making a sustainable source of passive income from your blog.

Making Youtube videos

Just like writing blog posts, a YouTube channel will attract a lot of viewers in the long term. More viewers mean more ad revenue and more opportunity to monetize your channel.

As cryptocurrencies are still new to the masses, there will be people looking for information about them. If you love making videos and are also knowledgeable about crypto technology, this could be a good way to have fun and earn at the same time.

I am not a Youtuber but I do know it could take time to have the minimum subscribers required by the platform before you can get paid for views. If you are consistent and make great content with well-edited videos, you could have your subscribers in a short period of time.

Just like blogging, this gig is best for someone who doing it for the passion of looking for quick cash. Growing an audience takes time, and you could give up if you not enjoying it. But all your hard work will pay off in the long run and your channel could be a much higher source of income.

Sell crypto merch online

Unlike the 2 two gigs we covered above, an online store can be a good choice if you want to make money without having to wait for too long. 

If you have some graphic design skills or if you can hire one, then you could easily design some cool graphic T-shirts and sell them online. Setting up an online store is pretty easy these days, with some platforms like Shopify, WooCommerce, GoDaddy, and others. You can choose the one you are comfortable with. They all don’t really require that you have to be a skilled web designer to up your website.

You can sell T-shirts and other graphic merchandise based on what is trending in the space and use social media to promote your online store. Crypto communities are very passionate folks, they will likely buy if they see something they like.

If you don’t have technical skills as a graphic designer or afford to hire one, you could do drop shipping. This means that you can set up your store, and then integrate it to other stores that will ship the item to your customers. You will make a profit depending on how much the item was sold on your site. For example, if the T-shirt provider sells the item at $15, and you're able to market it through your site for $25, you will make a $10 profit. Let's say you could sell 10 or 50 items in a single day, that’s $100 or $500 in profits!

The trick with online stores is to have a good marketing strategy to increase website traffic and online awareness. 

Earn money in your free time on Gitcoin

Gitcoin is the community of builders, creators, and protocols at the center of open web ecosystems. It’s a platform where you can learn about cryptocurrencies and the web3 and earn money doing so.

You can also take part in hackathons and bounties and earn even more money in the thousand dollars. You do need to have some skills like a web developer, software developer, or graphic designer for these tasks.

If you don’t have the skills mentioned above and you are willing to learn them, you can help from the community on Gitcoin. You can even get a one-on-one mentor there!

Below are some hackathons and bounties from the Gitcoin community site. Some prizes can go as high as $18,000 

Final thoughts

These activities I covered above are just a few in a bucket full of other opportunities in the crypto business without being involved in crypto trading. No matter how bullish or bearish the crypto market will be, your crypto business can still be a source of revenue.

These businesses also are likely to pay off in the long run because some could generate enough money in a passive way helping you to achieve your financial freedom goal.