It goes without saying that crypto have revolutionized the way the world perceives money and finance.
As the industry becomes increasingly popular, numerous opportunities have emerged alongside it. The possibilities are endless; whether you are looking to build a full-time career or simply trying to augment your income through crypto.
If you want to diversify your income streams, there are various crypto side hustles to consider.
From gaming to teaching, blogging to trading, these side hustles offer the potential to earn a significant income, while helping you stay up-to-date with the latest developments in the rapidly-evolving world of cryptocurrencies.
1. Play-2-Earn Games
Play-to-earn (P2E) games are one of the biggest innovations in the cryptocurrency space in recent times. As the name suggests, a P2E game is a blockchain-based game in which the players receive rewards and earnings for participating.
These rewards are usually in the form of cryptocurrencies and non-fungible markets, which can be sold on the secondary market.
Playing P2E games is perhaps the most exciting side hustle in the crypto world, as you get to earn some real bucks – all while having fun.
However, there is a catch with most blockchain-based games. You are almost always required to fork out a certain amount as an upfront investment – used for purchasing game characters and items.
That said, you will spend most of your time in the game collecting various digital assets, such as weapons, characters, avatars, etc. These in-game collectibles are often NFTs (non-fungible tokens) and have real-life value, which can be redeemed on NFT marketplaces and exchanges. Notable examples of P2E games include Axie Infinity, The Sandbox, Ember Sword, and Decentraland.
While there is no clear-cut answer to how much a P2E gamer earns, there’ve been multiple reports of people earning thousands of dollars monthly from blockchain games.
2. Cryptocurrency Blogger/ Influencer
As already inferred, the cryptocurrency world is filled and stacked with so much information. For this reason, several finance websites and crypto websites are creating blogs where they can publish articles about digital assets and cryptocurrency as a whole. Interestingly, nothing stops individuals – like yourself – from also starting a crypto blog.
Fortunately, creating a blog has become a lot easier these days. With modern web hosting platforms, even newcomers can install WordPress blogs with one click-install. A crypto blog can help you earn hundreds to thousands of dollars through blog incomes, affiliate marketing, and collaborations; albeit it might take a while before your blog becomes profitable.
Here’s a tip – try focusing on one crypto niche at first, as this would help you build a community of readers more rapidly.
3. Affiliate Marketer
As with several other industries, the crypto industry is leveraging affiliate marketing and other entrepreneurial tools. With affiliate programs becoming increasingly popular on crypto exchanges and protocol, you can now make a passive income by recommending new individuals to some crypto businesses. After all, that is how all affiliate programs work; by actively recruiting new users or customers, you will receive incentives in return.
The more individuals you recommend, the larger the monetary incentive you earn. This program is particularly more beneficial for people with a large audience. For instance, if you have a crypto blog or YouTube channel, you can conveniently market crypto projects and businesses to a large audience of people.
4. Cryptocurrency Tutor
A cryptocurrency tutor is an individual who helps people or clients to understand various crypto-related subjects.
Similar to a crypto advisor, a crypto teacher provides crypto education as a service to help their students comprehend the complexities of cryptocurrencies and digital finance. To provide this service, you can employ different media outlets, such as YouTube, Skype, Zoom, Google Meet, and so on.
As a crypto tutor, you will be tasked with teaching your students how to make healthy, consistent profits in the crypto market.
You will need good skill at creating effective trading strategies. But that’s not all – you must also be able to translate these strategies in your trading, while showing your students how to replicate them in the market.
As a cryptocurrency tutor, you can earn over a thousand dollars every month.
A year ago, Bybit – one of the world’s leading exchanges – launched the second edition of its ‘Teach and Earn With Bybit’ program, which entailed hiring tutors to teach others about crypto. This job offer came with a salary package worth as much as $1,000 per month.
5. NFT Creator or Trader
Non-fungible tokens, popularly known as NFTs, are some of the most sought-after assets in the cryptocurrency space. In 2021, NFT sales volume totalled $24.9 billion, which is a massive improvement from $94.9 million recorded in the previous year, according to data from DappRadar.
While the buzz around these digital assets might have waned in the past few months, there’s no denying that the NFT market will continue to expand.
An excellent way to make passive income in the crypto space is by leveraging on the NFT buzz and launching an NFT collection.
The tools you need to bring your artistic ideas to life are available on various NFT marketplaces, such as OpenSea, Rarible, Nifty Gateway, and so on. The best part is that a successful NFT project can help you earn as much as hundreds of thousands of dollars.
Also, you can become an NFT trader on the secondary market. Similar to cryptocurrency, stocks, and forex trading, this involves buying NFTs at a low price to be sold later at a higher price.
You can make hundreds to thousands of dollars buying and selling NFTs on the secondary market.
6. Discord Community Manager
Discord communities, also known as Discord servers, are online communities on Discord – a Voice over IP and instant messaging social network. These communities serve as a virtual platform where investors, artists, projects developers, and crypto enthusiasts can meet and interact. While you might be familiar with these online communities, a detail people often miss is that these platforms have managers.
Discord community manager is another lucrative side hustle you might want to consider if you are looking to augment your income. As a manager, you will spend most of your time responding to questions, referring community members to the right team members, coordinating the community, and so on. That said, the pay is quite encouraging, as you could earn as high as $95,142 annually.
7. Crypto Content Writer
This list would be somewhat incomplete without the role of a crypto content writer. Creating written content for different crypto publications and blogs is a fantastic way to make extra bucks. As a content writer, you will be tasked with researching, writing, and providing valuable information on cryptocurrency to a target audience of crypto enthusiasts.
To become a content writer, you don’t particularly need many technical skills. However, there are certain things you must master, including how the blockchain works, the ability to perform financial analysis, cryptography and securities, and smart contracts. Also, you must understand how legal regulations and compliance work in the crypto space.
According to data from Glassdoor, the salary for crypto writer roles ranges from $74,000 to $118,000 per year.
Overall, the world of cryptocurrencies has ushered in several opportunities for people to earn a substantial income through various side hustles.
Whether you decide to become an NFT artist, a content writer, a community manager, or a crypto tutor, you will surely find a crypto side hustle that suits your interests and skillset. As the cryptocurrency industry grows, more high-paying opportunities will emerge. By staying current on the latest trends and technologies, you can capitalize on new opportunities and potentially reach new financial heights.
“[Editor’s Note: This article does not represent financial advice. Please do your research before investing.]
Featured Image Credit: ChainDebrief
This article was written by Opeyemi Sule, edited by Yusoff Kim and republished in October 2023.