10 High-Paying Crypto Side Hustles to Start Without Quitting Your Day Job

10 High-Paying Crypto Side Hustles to Start Without Quitting Your Day Job

With Bitcoin’s debut in 2009, it was thought that Bitcoin would only be used as a means to complete payment or speculate for gains.

Today, the cryptocurrency space is growing in bounds, accommodating more enthusiasts and creating new earning opportunities.

For instance, the adoption of the proof-of-stake consensus mechanism has created earning opportunities for activities like staking, yield farming, decentralized app development, etc.

In the article, I will show you high-paying crypto side hustles you can start without quitting your day job.

Key Highlights

🎯 With the entire market valued at over  $1.76 trillion, the cryptocurrency market has created many opportunities for individuals due to the diverse blockchain consensus mechanism available.

🎯 Cryptocurrencies like Bitcoin are known to be volatile and carry a high degree of risk for hodlers.

🎯 Bitcoin is viewed as a speculative and investment digital currency by 67% of Millennials.

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SEE ALSO: How To Invest In NFTs On OpenSea

SEE ALSO: Five Best NFT Side Hustles To Invest In

SEE ALSO: 10 Best Cryptocurrency Side Hustles to Make Extra Money

Let’s review the high-paying opportunities…

1. Become a Miner

When you think of mining, what first comes to mind are precious metals and gems. In the world of currency, the thing that powers cryptocurrency is the decentralized miners.

While industrial tools are used to mine metals and gems, in the case of cryptocurrency, we make use of computers.

Get many computers if you want to start mining. The majority of miners operate in mining pools because the amount of computing power required to mine new blocks for the blockchain is much.

Investing in the necessary tools and signing up for a mining pool is your best choice if you want to start mining.

When you join a mining pool, you get paid after a block is added to the blockchain.

Note:  The protocol of each blockchain determines how unique it is. As an illustration, the current profit per block uploaded to the network for Bitcoin miners is 6.25 BTC. The average block reward for Ethereum miners is 2 ETH, plus a share of the user processing fees.

2. Become a Crypto Financial Advisor

Warning: You need to have some kind of proof that you have substantial knowledge on the subject. This proof can be a certificate, your day job as a financial worker, or maybe as an active investor or trader.

I imagine many people would hire a professional to manage their investments because cryptocurrency is so new, and there is so much information we need to consume.

Imagine building a cryptocurrency-specific consulting company or advisory group, a company that gives advice and manages crypto investment.

3. Yield Farming

Yield farming enables farmers to generate income by supplying the market with crypto assets as liquidity.

Profiting from rising interest rates, yield farmers move their cryptocurrency from one liquidity pool to another. They “harvest” a profit as a result of that increased rate.

A Simplification:

If you have saved money in a bank before, you know the money earns interest the more it sits in the bank. You deposit money into a bank, and the bank lends it to its customers, and in exchange you earn interest.

What will you do if your bank, Bank A, pays you 0.01% APY but you find out Bank B across the street is offering its customers 2.0% APY? Naturally, you’ll transfer your account to Bank B; this is yield farming.

To take advantage of the best interest rates, you transfer your cryptocurrency around.

4. Build DAPPS

DAPPS or decentralized apps are digital apps that don’t rely on a single computer but instead operate on a blockchain network of machines.

If you are a software developer, then you can start building DAPPS for clients on the blockchain. With the continuous increase in the popularity of web 3.0, the demand for DAPP developers is sure to increase as well.

5. Cryptocurrency Tutor

A cryptocurrency tutor or instructor is a person who gives clients advice on various cryptocurrency-related topics. Experts tutors provide crypto education as a service to assist their clients in choosing when it comes to investing in cryptocurrencies.

To teach your student how to consistently generate healthy profits in the cryptocurrency market, you must be a cryptocurrency tutor who is skilled at putting cutting-edge trading strategies into practice.

Please note that as a cryptocurrency tutor, you should advise your students on effective, legal, and ethical cryptocurrency operations in the accounting and tax fields.

As a tutor, you also need to be able to defend your customers from unethical and unlawful crypto operations.

Why should you become a tutor?

Even if you are not an expert in cryptocurrency trading, you may still teach workshops for individuals who have no prior training or expertise in the field.

You can teach an introductory class to people with zero experience in cryptocurrency. More reasons for becoming a tutor are,

• It has a high earning potential.

• You can create flexible working hours.

• It will force you to learn more and stay updated on everything cryptocurrency.

• Allows you to help others who are struggling to learn about the subject.

6. Open a Cryptocurrency Interest Yielding Account.

DeFi (Decentralized finance) businesses are working aggressively to develop products that resemble conventional financial services. The greatest option for you may be cryptocurrency saving if you are not skilled at yield farming.

A crypto savings account can act as a bridge to introduce you to cryptocurrency while also allowing you to make money.

If you are not familiar with Decentralized finance companies, it is a new financial system built on secure distributed ledgers comparable to those used by cryptocurrencies.

The system eliminates the centralized authority financial institutions, including banks, have over money, financial goods, and financial services.

Why Crypto Interest Account : Because it gives them the funds they need to invest, stake, trade, and lend to generate money, Decentralized finance companies like Binance want you to save your cryptocurrency in their savings accounts.

You can also check this article on Youhodler where you can earn up to 12% APR on your crypto savings.

7. Learn Swing Trading

When it comes to financial trading, there are different types of trading strategies, one of them being swing trading.

So what is swing trading?

When trading in a financial market (these markets can be forex, stocks, or cryptocurrency), swing trading is a kind of trading in which gains are sought over a few days to several weeks in the financial market.

With swing trading, you tend to hold a trading position for a couple of weeks to months in hopes for it to turn a profit.

Trading strategies like swing trading are already used in the stocks and forex markets and can be easily transferred to the cryptocurrency market.

The behavior of cryptocurrency markets is similar to that of the stock and forex market. You may interpret the data to determine when to take action.

8. Leverage on Affiliate Programs

Few individuals are aware that affiliate programs are also accessible in the cryptocurrency sector, even though many people are familiar with how they operate.

In exchange for introducing clients to a business, affiliate programs pay you; this implies that the larger your incentive, the more individuals you recommend.

The best way to leverage this opportunity is to have an audience. This opportunity will be more profitable for people with a blog, youtube channel, or any form of audience.

There are many things you can refer people to in the crypto world. You can refer them to tutorials, offers, and many more.

If you don’t have an audience, you can start with your friends and families and grow from there.

9. Earning Rewards through Games and Surveys

This is one of the most surprising forms of earning crypto assets. You might not know this, but some sites reward users for playing games or answering surveys.

The play and earn crypto asset has become a billion-dollar industry, and one of the most prominent games in this space is Decentraland.

Players can create virtual avatars, interact with others, and—most importantly—purchase real estate on Decentraland’s metaverse.

Once you have acquired a piece of land and constructed your real estate project, it is then shown as a distinctive NFT.

Another way to earn is by taking online surveys. A fun method to boost your finances or pay for small costs is by taking online surveys.

If you plan to pay for large expenses, this is not a dependable income source.

Consider it a side hustle if you’re seeking a dependable way to augment your income. Online surveys for crypto assets are accessible.

Companies are always looking to collect data from people to help improve the many aspects of their business and are willing to pay for this data.

Many sites help companies collect this data from you and me, and they pay us in crypto assets. All you have to do is answer the questions you were given honestly.

10. Launch or Trade NFTs

At the time of writing this article, NFTs are buzzing everywhere. We have heard news like the popular disaster girl meme that sold for $500,000, or the First 5000 Days that sold for $62 million.

If you want to go this route, you can launch your NFT project on a site like OpenSea.

Another option in the NFT space is to buy and sell them. Just like trading cryptocurrencies, stocks, and forex, you can trade NFTs. You can buy them at a low price and sell them sometime later for a higher price.

Final Thoughts

Since this is the conclusion of this article, then I think we can conclude that earning in crypto goes beyond Bitcoin.

Now that you have seen the kinds of side hustle you can do along with your day job, the next step is picking the side hustle that best fits you.