How can the money be made with a blockchain app?
Blockchain has recently been a hot favourite means for transferring funds by logging on to a create account without any centralised intermediary like a financial institution.
The Internet has given birth to cryptocurrency and crypto-exchanges, making online payments way easier while not having a monetary institution monitor if you ask any blockchain app development company in India or abroad.
Before we get down to ways of earning money via Blockchain, let us have a brief look at the most recent platforms that offer an opportunity to make cryptocurrency, or if you plan to hire blockchain developer for having your blockchain app.
PI Network
Pi Network is an early blockchain network that allows any to mine cryptocurrency Pi from their mobile phone using the MinePi App.
Users need to download the app and keep it open while starting the mining process once a day.
Once open, the app automatically mines the entire day without even looking at the app once, but one should not log out.
Steemit
Steemit is a platform meant for blogging and social media rewarding users with cryptocurrency to post content in the form of text, photos, videos, and more.
Such cryptocurrency can be used to buy products or services meant for transfer on exchanges like Binance and Bittrex while converting to Bitcoin.
For this, get the app eSteem download, irrespective of iOS or Android.
Brave
Brave is a web browsing platform allowing users to see adverts and earn tokens in the form of cryptocurrency on the same.
So, users see adverts and make money by earning tokens.
Publishers pay users for viewing their content on browsers like Chrome and others.
SMS Chain
SMSChain is a service that lets users earn on sending unlimited SMS.
For this, first users purchase the SMSCHAIN token, go for an app install, and then send new SMSes to make cryptocurrency.
App users can send across an unlimited number of messages and earn with ease.
14 ways to build wealth via Blockchain
So, it’s 2021 now.
Bitcoin is now 12 years old, and 2009 is when the cryptocurrency popularity saw a surge with the immense popularity of Bitcoin.
Bitcoin opened up new avenues of making cryptocurrency online. New ways are getting opened up since then allowing people to make money in one or another course with so many apps around created by a blockchain app development company in India.
Still lot of them are figuring out how to build sustainable wealth online and hence let us discuss ways by which you can get set go with Blockchain as any business would hire blockchain developer to get an app.
- Mining the cryptocurrency online
It is no literal mining wherein you need to head over to a cave or mining site taking your pickaxe and starting with the mining.
It all started with mining bitcoin on several platforms. Now you can have automated mining set up to solve complex mathematical problems by buying your minting servers.
However, mining wasn’t that complicated earlier as it is nowadays since users could mine hundreds of BTCs using their home desktop only. Still, now specialised top tier equipment is required to unearth so many of them at a stretch.
Still, you do stand a chance of mining cryptocurrencies today using mining pools or cloud-based mining. You collaborate with other miners to amplify the computing power while solving complex mathematical problems easily and quickly.
The most significant benefit of mining in collaboration is you do not need any specialised hardware or software to mine the cryptocurrencies. Still, the biggest drawback is since you are working as a collaborative team what you mine is the microscopic value of the respective cryptocurrency which can take months or even years to reach a decent deal.
Henceforth, purchasing mining equipment could be way smarter to mine macro values of cryptocurrencies, however at the price of equipment that might cut down on your profit margins.
With competition getting fierce than ever, it makes it harder to do mining with or without equipment, as the cost, time, and efforts involved are too high.
- Buy and Sell with other crypto owners
Buy bitcoins from people who own them while selling it to those who need this.
You might ask how that can help you earn the cryptocurrencies. It’s pretty simple.
Buy cryptocurrencies at a comparatively lower price and sell them while the price is on the rise. This would help you earn the profit margin – the difference between the selling price and buy price.
It might tale days, months, or even years to reach the desired price, and hence you need to have tremendous patience out there.
There is a concept here that comes to play, which most might not be knowing. HODL (Hold On for Dear Life) means buying cryptocurrencies for fun or experiment sake, and then let it stay in your wallet until the time the cryptocurrency reaches an unimaginable price after which it is sold.
- Trading on crypto-exchanges
This is similar to buying and selling with the only difference a trader does buy and selling daily and sometimes even on an hourly, minute, or second basis for a profit almost every day.
Unlike buying and selling, trading opens up more probabilities of having a handsome profit or loss, and one need not be patient enough waiting for the right time.
Cryptocurrencies have extremely volatile nature since there is no involved regulatory monitoring the movement of cryptocurrencies as of yet and hence the trading is equally volatile.
A trader needs to be well-versed in the market knowledge and the types of trading strategies with their positive and negative impacts.
Being a crypto trader allows you to use one or more strategies below:
· Day Trading involves buying and selling the same day itself
· HODL Trading involves buying now and selling it once a cryptocurrency reaches the ultimate price.
· Swing Trading is a combination of above two wherein a cryptocurrency is bought now and sold once it gives sufficient returns on investments.
· Arbitrage is a strategy wherein one crypto-exchange is used for buying while another is used for selling.
- Crypto commissions with affiliate marketing
Affiliate marketing is just about everywhere, and one can earn cryptocurrency as commissions by promoting other’s products.
Commissions in the form of sales incentives can be a great way to keep affiliates motivated, and any business can have an affiliate program in place.
- Crypto as a mode of payment
After understanding cryptocurrency’s value, most businesses today are keeping it as a payment option and others, which helps enterprises gain cryptocurrency via payment.
Crypto can be an excellent payment option because it’s straightforward to make a transfer via crypto wallet.
Moreover, the best part of having it as a payment option is both parties need to disclose only their crypto wallet id for making a transfer.
- Faucets help in rewarding users
Have you ever seen those polls, surveys, ads, games, etc. who reward users for seeing adverts or taking surveys?
This is where crypto faucets help users to earn by performing the activities.
The rewards can be mere fractions, but when added up can be pretty rewarding over time.
- Offering cryptocurrency as tips
Helping people is the best thing to do in this world and receiving tips in return, and that too in the form of cryptocurrency can be awesome.
There are many other gigs wherein cryptocurrency could be offered as tips, especially the gaming sites, and other micro-tasks wherein the cryptocurrency acts as rewards.
- PTC sites offer crypto per click
There are so many pays to click sites acting as a publisher who offers money or particularly crypto money to watch an advertiser’s ad.
Again, herein do not expect significant money to be expected overnight, but you can earn decent money slowly and steadily.
Bear in mind that doing all these is a tedious task and certainly not ideal.
- Making out of crypto content writing
Cryptocurrency is an absolute fresh niche with not much content written on the same.
You can sell your content on Blockchain and cryptocurrency to blogs and businesses dealing in the same.
With a handful of writers having in-depth knowledge of cryptocurrency, it comes as no surprise as content makers making valuable content for business owners.
Therefore knowing about the niche and trying hands at writing about the same can help you get authority over it while getting you in related businesses’ eyes.
- Talking about cryptocurrency on forums
Blockchain forums are pretty old, and so are the conversations out there.
To open a talk about a specific cryptocurrency with full authority can help you gain awareness among business owners who want to hire content marketers to get a substantial reach on Google.
Just keep consistently posting about blockchain stuff, and soon you will get advertisers or sponsors wanting to sign you for their next endorsement, whether offline or online.
- Lending cryptos to others and earn interest
Crypto money is decentralised, and hence it can be easily lent out to others for earning great interest through mutual understanding.
Since there is no one to validate the transactions, there is a seamless transfer of cryptocurrency from one crypto wallet to another.
You can even have the loan at pre-decided interest rates or lend them to others, keeping the circulation of money intact through encrypted cryptocurrency.
- Using crypto money for gambling
Gambling is a shortcut means to earn some quick bucks and that too with cryptocurrency is relatively easy since there is nobody to monitor where the crypto money is going and coming.
However, gambling has as many great risks involved, with a 50/50 probability of winning big money or losing big money.
The advantage with gambling using crypto whether you win or lose, you are not answerable to anybody with regards to how much have you gained or lost.
- Binary or forex trading using crypto
Binary and forex trading has been for a while now, and they have legalised ways to gamble online with an equal probability of winning and losing.
Binary options offer two possibilities offered wherein you can purchase or sale beyond or below a specific price making your predictions as to whether the price will exceed or would be less.
Similarly, in forex, one can buy and sell currencies online with the use of cryptocurrency that can be very handy in performing transactions.
- Hosting master node to track mining
With a master node in place, you have a dedicated point keeping track of Blockchain and that too in real-time without any delay.
A master node is up at all the times running seamlessly to save, validate, and perform transactions with other nodes.
To have smooth protocol operations ongoing while governing other things, a dedicated master node is exceedingly helpful, especially when heavily incentivised.
Cryptocurrency is the next thing.
Now that you know the importance of Blockchain and cryptocurrency and different ways to earn crypto online, it is time now for all those wanting to make a mark in making money online with the help of apps developed by a blockchain app development company in India.
Cryptocurrency is undoubtedly a hot deal today and will have an uptrend in the future, so why not jump on to the blockchain bandwagon to get started right.
Building wealth with cryptocurrency is just like making money with a business or job and that too in a non-regulated manner with constant efforts leading to significant profits. What better than hiring blockchain developer and have your app build for others to earn from them.
The best part of being associated with crypto money is crypto-economy has a great future ahead, and with so many people getting into it every day you can be late if not today.
Author Bio:-
Rahim makhani, CEO and managing partner at Nevina Infotech, Enterprise Web App & Mobile Application Development Company, helps global businesses grow by the internet of things development. His 10+ experience enables him to provide digital solutions to new start-ups based on IoT and Blockchain, and some trending technologies.
