I was asked recently what would I do if I had to start all over again with crypto, and it wasn't easy to give a specific answer on the spot. So naturally, I gave it some thought and while others may say that it is a lot harder to start from scratch right now I will try to prove the opposite.
Getting doubt out of the way right of the bat is very important because if you think about it long enough you will find an excuse not to start. Before we get to the specifics I just wanted to point out that it can absolutely be done. No question about it.
With the right knowledge, direction, and end-game plan you can do almost anything with crypto. Let me show you.
The Basics
Since we will be doing all of this stuff on the internet and we want to monetize our activity as much as possible the first thing we would need is a crypto-based browser like Brave. It won't earn you much but since you will be here for a long time every penny on the side counts.
Judging by some reddit posts monthly earnings can range from 3 BAT to 15 or even 20, depending on your geographical location and use time. Whatever the number may end up being just keep using it. It won't be great for your portfolio value but it will introduce you to crypto and teach you how to patiently stack your stacks.
Expected monthly income: 5 BAT (~$5)
Learn and Earn
Learning is a big part of crypto and if you don't monetize it you will be losing money for no reason at all. Start with Coinbase earn and try to find similar earning programs like the one Coinmarketcap has. There are at least 5 legitimate websites where you can learn about different coins and then answer questions for crypto rewards.
Depending on the cryptocurrency and your country of origin, earnings can range from $5 to $50. Don't look at the rewards, just pick one every day, learn as much as you can about it and keep accumulating. Even at $5 per day, you will be ahead of many crypto investors very soon.
Expected monthly income: ~$150
Share The Knowledge
While you were learning others were looking for the next Doge so while you are ahead maybe try and turn that knowledge into more crypto. Complete beginners can start by creating a Reddit account and reading through the daily posts in the cryptocurrency community.
Once you feel that you have expanded your knowledge enough to discuss a certain subject engage in discussions and ask questions. There is no better way to learn crypto than to discuss it so the more active you are, the more upvotes you are likely to get. /r/cryptocurrency turns those upvotes into Moons that you can sell, hold or convert to other currencies.
Level Up
Learning and earning is fun but what you really want to become is an educator.
Most crypto investors understand blockchain at a very basic level. If you want to know what kind of impact this new tech will have on the world you need to participate in more complex discussions that are consistently taking place on Hive and Leo Finance. So, once you have mastered Reddit's level of knowledge you can start the same process all over again in the Hive ecosystem.
Learning, earning, asking questions... All of this can generate rewards as long as your intentions are genuine and you aren't trying to milk people for upvotes. With hard work and consistency, your monthly earnings from participating in crypto discussions may surprise you but it is important to stay realistic and always know that you are running a marathon.
Expected monthly income (beginner/entry-level engagement) ~$50
Crypto 9 to 5
All of the above can easily fit into your daily routine and won't take more than two hours out of your day. Even if we make it three hours you still have time to earn some crypto, right?
After the learning and earning becomes a habit you can try creating your own content on Leo, Hive, Reddit, Medium... Whatever feels natural. Obviously, it would be best to blog on platforms that bring crypto rewards since that is our goal but if you aren't ready for the real deal there is nothing wrong with exploring other options first.
Once everything is said and done and you feel comfortable writing beginner-friendly content for those that will come after you things get a lot easier. Landing a job in the crypto industry as a content writer is fairly easy at the moment, as long as you have the required knowledge and are always willing to learn new things.
You can either look for one at Fivver, Freelancer, UpWork or whatever is popular today, or you can directly offer your services to crypto-related websites by simply reaching out to them. You would be surprised how many content-driven websites in crypto are understaffed so just give it a try. Even if you land the worst deal possible you should be earning $20 per article and writing just 3 per week will bring you closer to your goal.
Expected monthly income ~$240
Passive Income
Earning actively is great but earning passively is your end goal. Staying consistent with what we mentioned above should net you at least 300-400 dollars a month. If you don't need to spend it all and if your goal is still to build a portfolio it is time to put that money to work.
The financial unicorn will allow your money to multiply while you focus on making more money. Also, if you made it this far it is time to ditch the learn and earn programs. They were only there to get you started and it's time to transition to the big leagues.
Pick two or three projects that you learned about in your journey. If they seem like great long-term investments allocate some funds every month toward those. Put the rest in DeFi protocols like Cub Finance or BeeSwap and keep grinding.
You can fill up some spare time with play-to-earn titles like Splinterlands as well. You never know when you will get a legendary from those daily quests that aren't really hard to complete.
Expected monthly income 5-10% on staked funds
Realistic Timeframe
Before you set yourself on this journey you will need to put some rules in place. There should be no goofing around for at least a year and by this I mean no giving up halfway through just because you "made enough" or it's "just not worth it". If you can give it a year there is a high chance crypto will exceed your expectations as long as you can stay consistent.
Some other realistic goals would include:
Not selling anything for the first six months
No speculative investing
At least 3 main coins in portfolio with 80% of funds invested in them
Never sell 100% of anything
No day trading
No margin trading
No giving up for at least a year
If you can set your goal straight and comply with your own rules there is very little to no chance that you won't "make it" in crypto.
Airdrop Hunting
If you are new to the game there is no shame in hunting airdrops and getting some free money. I will not go into details on this one but if you are interested check out my airdrop guide for more information on this specific subject.
Most of the time you will be getting peanuts but if you know which protocols are here to stay and how to qualify for their airdrop, we could be talking about thousands of dollars potentially.
The End Game
When you think about what the internet was just 3-4 years back and when you look at the opportunities now, crypto has already created a revolution. You can monetize your whole online activity and as long as you can keep it genuine, things can only get better over time.
Monetizing everything from your browsing activity to freshly-acquired knowledge was possible but with minimal monetary rewards. Now, you can create a career out of it and it's all thanks to crypto. And I only scratched the surface here. Video creators can monetize their work with 3speak, art can be sold as an NFT, many projects are still criminally undervalued... Opportunity is everywhere you just have to find it.
In the end, it all boils down to the individual level.
Are you ready to commit to something even if that something may end up being worth nothing tomorrow? Does the idea of Web 3.0 and crypto in general give you hope that we can still right some wrongs in the world? If the answer is yes why stand and watch it unfold when you can help build it?
Bottom line is, if you are ready to work your ass off and spend less time on pointless activities we are all guilty of, you can even become a millionaire in crypto if you want to.
All that with a $0 investment. Not bad ha?