If you’re a cryptocurrency trader then it’s likely that you love a good gamble every now and then. The thrill of betting against the odds and winning is enticing and always exciting but it’s a big challenge to find a reliable platform that offers an opportunity to double your investment. No one says doubling your crypto income is going to be easy, but in this article we’re diving in to how to turn probable into possible.
How can I double my crypto income?
Let’s talk about getting creative in order to double your cryptocurrency investments. I’ve touched on ways to earn crypto through Trading, Staking and HODLing, and also shared a fairly comprehensive article on how to Earn Passive Income with Bitcoin Cash, but there are other creative ways to earn cryptocurrencies and double your investment.
Sign up for Airdrops
Airdrops are free tokens that are dropped into your wallet. These giveaways often do not take a lot of effort to participate in, however, some may have prerequisites to be included. One caveat though; not all are worth your time and you might be accumulating shitcoin. That being said, it’s free and there’s a chance that there is value attached to these tokens.
There are several websites with listings of past, current and future airdrops. Sometimes it’s easier to sign up for alerts to your inbox or messaging app so you don’t have to spend time wasted on research. Once site we recommend is Airdrops.io.
Be diligent. Do your research and try to avoid scams. Also note that some airdrops are limited to country or jurisdiction.
Blockchain project tasks
There are several websites that feature simple tasks that you can do to earn cryptocurrency. These tasks include content creation, marketing, and business development. Sometimes it’s in the form of a bounty, which I’ll expand on later, and other projects will outright reward you for specific tasks, ie. a real job in the crypto and blockchain space. The best part about this is that you don’t need to be a developer to work in the blockchain industry.
Sometimes volunteering for blockchain projects can help land paying positions but beyond that, cryptocurrency, fiat money, or a combination can be earned through work like Digital Marketing, Customer Support, Content Creation, Legal Expertise, Social Media Management, etc. You can work in the blockchain and cryptocurrency industry if you have the skill-set to work for an internet company. CryptoJobs is a great place to start looking for leads.
Many projects and exchanges offer a good pay in exchange for sharing their links and marketing posts or campaign offers. Telegram groups are great for finding handles that monetize the resources that they share within their community through affiliate marketing. As an affiliate marketer, you refer people to projects and exchanges often with a personalized referral link. As more people user your link, you get rewarded according to the promotion agreement. This might be anything from crypto earnings to points that can be exchanged for rewards, or a flat fee or a percentage of what was purchased through your link. There are many blockchain companies that will offer affiliate positions at a commission to forward new clients to them.
Similar to airdrops but different in some critical ways, bounty hunting, as mentioned earlier, is often a fairly simple way of earning crypto with little to no effort, depending on the tasks. It’s not just token dropped in your wallet but rather task oriented.
Many exchanges and crypto projects offer bug bounties for searching through their code to find inconsistencies or problems; other bug bounties might include finding broken links or UI issues on an alpha or beta site. Still, there are more bounties for trading or getting new users to signup.
Other bounties might include:
Social Bounties – Give them a shout out on your social media platforms
Signature Bounties – Passively promote projects on the BitcoinTalk forum
Content Bounties – Create content for projects
Bounty hunters can earn a good amount of crypto using their skill sets.
Mining and staking
In my article Insight for Staking and Mining Cryptocurrency I detail ways to earn cryptocurrency through mining and staking. Sometimes it’s a matter of checking to see if you can make passive income from tokens you already have. Wouldn’t that be a diamond in the rough?
Several projects have gone through hardforks and HODLers often have the benefit of seeing their held crypto maintain its value with the added benefit of gaining an equal amount of the new token that forked from the original blockchain. In most cases, the forked code becomes an independent entity; the coins within the original blockchain get a parallel token deposited into their wallet. Most exchanges like Binance, KuCoin and Coinbase support hardforks and often announce their plans to support the split in advance. It’s wise to pay attention so you can shift your tokens to get the maximum benefit from a hardfork.
A prime example of a beneficial hardfork was when Bitcoin Cash forked from Bitcoin. To date, even with crypto winter affecting all the tokens, it BCH still has value. If there was one, there will be others. I can almost guarantee that.
There are many more exciting and creative ways to double what you invest or earn through cryptocurrencies, and more and more traders are exploring this. Cryptocurrency offers a plethora of opportunities and what we have shared here is just the tip of the crypto iceberg. Stay tuned as I share more of my crypto experience in future articles.
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