Ahoy, Team! I know that virtually every person who has heard of crypto thinks there is a lot of “easy money” to be made here. In a way, it is true, as major projects literally throw money at you, but there is a catch…
The vast majority of people who come to cryptocurrency looking for a freebie end up leaving with nothing at best or a bunch of debts at worst.
That’s because the thirst for easy money forces people to make extremely thoughtless actions, for which there is a bitter price to pay later. Of course, you can make money here, but not as easily as stated in the headline.
So let’s discuss how to actually make some money in crypto. I will talk about the risks and whether a beginner can really earn anything here.
This list is structured in such a way that I have placed the most “harmful” activities for beginners at the beginning, but each subsequent point becomes more valuable and offers real opportunities to earn.
5. Trading
The biggest misconception in the minds of beginner crypto investors is regarding margin trading. It all looks very simple: you wait for a dip, enter a trade with 100x leverage, and in a few hours you have +$1000.
Moreover, you don’t even need a lot of money in your balance. Let’s take the same $10 and apply 100x leverage to it, and you get 10 x 100 = $1000. That is your trade opens not with the initial $10, but with a whole $1000.
In the screenshot below, using the calculator on ByBit, I showed how you can make a fortune with just a $10 initial investment. Study it carefully!
Suppose you perfectly guessed the bottom of the market, entering at $56,600 with your $10 and 100x leverage. Let’s say you close at $59,000 because you thought BTC would continue its drop.
In this scenario, you would earn just over $43. Sounds great, right? Quadrupled your investment in a few days!
But if you can’t predict the future, the chances of repeating that success will be very slim, and most likely on the next trade you will lose not only your initial $10 but the $43 you earned as well.
Even if by chance Bitcoin continues its rise and you have the patience to hold your position until BTC reaches $80,000, then yes, your profit would be a solid $421. But once again, greed will likely prevail at some point.
Also, pay attention to your liquidation price, which is less than $300 below your entry point. For Bitcoin, a $300 fluctuation is not considered much, and the risk of getting liquidated is extremely high!
In conclusion: earning money through futures trading is entirely possible, but you will either have to invest in a good education or lose money while honing your own trading strategy, and it won’t be just $10.
Pros:
- It is possible to increase the deposit by +10% per month, but it is unlikely to be consistent;
- By learning to trade, you can earn well by trading for an hour a day.
Cons:
- Even with a proper approach, will be times when you may lose money;
- 99% of traders only lose money and don’t earn anything in the market;
- Trading is extremely difficult and stressful work, sleepless nights are guaranteed;
- Without a solid trading strategy, it is impossible to trade profitably in the long run;
- The higher the capital, the higher the earnings. You won’t become a millionaire with just $10.
4. Buying Meme Coins
Meme coins are a category of cryptocurrency tokens created based on popular internet memes or folklore images. These tokens usually have a humorous or parody nature.
In my opinion, buying meme coins is the most INadequate way to make money in crypto. Unlike trading, for example, which can be learned and a profitable cryptocurrency trading strategy developed…
You can’t learn to buy meme coins; it’s essentially an unpredictable lottery where only the founders of the meme and a few lucky individuals who got in very early will truly make money.
I know there are people who earn on meme coins, but I will reiterate that my main complaint about meme coins is that you can’t build a system that allows you to consistently generate income from trading them.
It’s one thing when an investor puts 3–5% of their deposit into such assets. It’s a completely different scenario when a novice spends last dollars into some megafrog because they were told the project will give 1000x returns…
Pros:
- If your luck is at its maximum level, consider yourself a millionaire;
- Bought, forgot, and believe in a miracle.
Cons:
- The vast majority of meme tokens are blatant scams;
- The main profit goes to the earliest investors and the dev team;
- Who knows how many bucks you’ll lose before finding the meme coin.
3. Free Activities
In the current market phase, many simple projects regularly emerge, and if you get early in such projects, that can lead to decent earnings. The main problem is that the vast majority of them will become scams quickly.
However, it may take quite a bit of time to track and participate in such games. In my opinion, this activity is well suited for schoolchildren who don’t even have $100, but have enough free time for a dozen adults.
If you are interested in such activities, I can recommend the hyped clicker game Hamster Kombat. The developers have already promised their token, and moreover, they have managed to quickly form a huge community.
Don’t expect a life change, but I think you could withdraw $50–100 from one account. I also click from time to time, but after the disappointment with Notcoin, I don’t have much motivation to participate in clicker games.
Link to the Hamster Kombat [Click]
Pros:
- You can earn your first capital through such activities;
- Extremely low entry threshold, no special skills required;
- Typically only time is invested, so the risks are minimal.
Cons:
- There is a chance of getting nothing or earning mere pennies;
- Quite time-consuming, especially if playing multiple games at once;
- Those who come earlier have the most chances to earn.
2. Airdrops
An airdrop is the free distribution of a project’s tokens to its early users for some simple actions. Essentially, airdrops are a marketing strategy aimed at attracting users to a young startup.
Such distributions in the crypto space garner a lot of attention, allowing new projects to build a loyal audience that will benefit them in the future, while we can almost get cryptocurrency for free.
Of course, it’s not all that easy, as participation in such airdrops requires at least a small deposit of $100–500. You will need to be active in the chosen project, for example: make exchanges or purchases.
With a smart approach, you will spend 20–30% of your initial investments, and receive the airdrop at 200–300% of the same initial investments.
Naturally, farming airdrops requires relevant knowledge, but overall, after completing one project, you will more or less understand the logic of other startups. It’s not that difficult at all, the key thing is the willingness to learn!
Pros:
- A good way to boost your deposit with limited funds;
- You can work with one project through multiple accounts;
- Gain a lot of knowledge and experience with Web3 and DeFi.
Cons:
- Interaction with the project can extend over several months;
- There are no guarantees that you will receive the airdrop 100%;
- There is a risk of encountering scams and losing all investments.
1. Ambassador Programs
In my view, ambassador programs are the most realistic way to earn $10,000 in crypto when you only have $10 in your pocket. However, the main challenge is that it requires hard work and providing value.
An ambassador program is a marketing strategy through which projects attract users to promote their cryptocurrency.
Ambassadors engage in hosting events, creating content, actively communicating with the community, and attracting new users.
For these actions, you will be rewarded with tokens of the project you choose to become an ambassador for. It is quite possible to reach an income of $1000–2000 per month if you are willing to put in effort.
Currently, the most profitable ambassador program has Injective. I regularly see how schoolchildren and students with almost no initial capital achieve stable earnings there, possibly earning more than their parents.
If you also want to start working remotely and receive a salary in cryptocurrency, I recommend trying your hand as an ambassador.
It doesn’t cost money to join, you can learn along the way and at the same time you will significantly improve your knowledge in cryptocurrency!
Link to the article about the Injective ambassador program [Click]
Pros:
- Virtually no financial investment required;
- Stable and substantial salary in cryptocurrency;
- Opportunity to establish many valuable connections.
Cons:
- Initially, you may have to work for the project for free;
- You need to strive to complete tasks with quality;
- It is much easier and more enjoyable than traditional employment, but it is still work.
— –
I want to apologize if I shattered your dreams of easy money in crypto. In this market, someone’s profit is someone else’s loss. Of course, you may hear many stories of people turning a couple of dollars into millions.
But now, consider how many thousands of investors must lose for that one person to profit. Can luck be on your side? Certainly!
Can you forgive yourself for losing your last dollar? That is a really good question, one that you should honestly answer for yourself…
Those who register on ByBit using my referral link and deposit a balance of $100 or more will have the chance to win up to 1025 USDT.
Register using my link and receive bonuses [click]
Referral code: Q7Z5G2
