How To Make Money With Crypto In 2024

Are you looking for ways to make more money in crypto in addition to buying and selling?

Let’s look at fourteen proven ways to make money with crypto in 2024 and beyond. Whether this is your first time trying to make money with crypto or you’ve been at it for a while, this article has valuable information to help you live off crypto.

14 Ways To Make Money With Crypto In 2024

Earn Cryptos Through Mining

Mining is one of the oldest ways of making money with crypto. In some countries, Bitcoin mining has become a lucrative venture, with people investing millions of dollars in buying hundreds of dedicated, high-processing computers to mine Bitcoin. 

To be able to mine, you’ll need to invest in high-performance graphics processing units (GPUs, often called video cards) for your computer or an application-specific integrated circuit (ASIC). High-end GPUs can range in price from about $1,000 to $2,000; ASICs can cost much more, into the tens of thousands of dollars.

However, suppose you can’t afford a GPU or ASIC; in that case, you can mine directly with your PC on sites like Honeyminer or Nicehash. These programs use part of your computer’s processing power to mine with the rest of their community.

There are also cloud mining solutions where you can rentcan rent cloud computing power without directly installing and running the software and hardware on your computer. You can open an account with a cloud mining company and remotely mine cryptocurrency for a fee. 

This service helps make mining accessible to a broader base of people by reducing the need to purchase and maintain equipment or pay direct energy costs. However, you should not hope to make a fortune; the most recent processors could generate up to $75 monthly in cryptocurrencies.

Earn Free Money With Airdrops

Crypto airdrops are another lucrative way of making money in crypto. Building an extensive portfolio with airdrops is possible, provided you know how to search and participate in valuable airdrops.

Some projects require you to perform specific tasks, like following their social media pages and joining their communities. At the same time, some will require you to hold a certain coin or token or hold an  , just like in the case of Apecoin distributed to Bored Ape NFT holders. 

Requirements for some other Airdrops are that you must have been an early supporter and interacted with their platform by staking, swapping, bridging, providing liquidity, or referring more users.

Want to know more on how to make money with crypto Airdrops? Check out our complete guide.

How to make money with crypto airdrops in 2024

Make Money As A Crypto Day Trader

Crypto trading is another proven way to make money in the crypto space. Suppose you don’t have the patience for hodling cryptos long-term. In that case, you can opt for day trading where you can make money daily as the process requires you to take advantage of daily market volatility to actively buy and sell cryptocurrencies for profit. 

As a crypto day trader, you will likely enter and exit several trading positions throughout the day and refrain from keeping a trade open past standard market hours. The concept of making money with cryptocurrency day trading is to make small returns but frequently.

You must understand how to analyze the markets to make money with cryptocurrency with a day trading strategy. This means performing detailed research on cryptocurrency pairs. 

You can also use copy trading and bot trading if you don’t have the time to monitor the market. All you need to do is feed your strategy to the bot, which will trade for you.

Staking Crypto For Additional Tokens

If you have some money or tokens you can keep aside without needing them urgently, consider putting them in a staking pool to earn more tokens passively.

Staking your crypto assets involves locking them or holding them in a wallet or pool to provide liquidity and support a blockchain’s operations. Once locked, you can’t use these assets elsewhere except when staking in a liquid pool.

A liquid pool can allow you to use your tokens for other purposes while staked. The liquid pool provider issues a receipt to you as proof of your assets, which you can trade with.

For example, when you stake Ether (ETH) in the Lido liquid pool, you will be issued staked Ether tokens, stETH, which you can use for other crypto operations. However, if you lose the stETH assets, you will lose claim to your assets in the staking pool.

Overall, a cryptocurrency holder can decide to lock up their assets with a platform for a certain period, during which they will receive interest.

Additionally, note that only blockchain networks validated by the proof of stake (POS) consensus are eligible for staking. Examples of staking pools you can join today are Lido (LDO) liquid staking, Nexo, Stakely, and most crypto exchanges.

It is paramount to do adequate research before vesting your crypto asset into any staking pool.

Win Tokens, In-game Assets, and NFTs On Play-To-Earn Games

One of the biggest trends to rock the crypto space in 2021 is Play-to-Earn (P2E) blockchain games. These games allow you to earn free tokens, in-game assets, and NFT by playing. 

These tokens, NFTs, and in-game assets can be sold in the game marketplace for fiat or other cryptocurrencies like Ethereum. Additionally, you can rent out your NFTs and game assets to other players and earn passive income during the rental period.

Two of the most popular Play-2-Earn games are Axie Infinity and Decentraland (MANA).

Axie Infinity was built by Sky Mavis, a Vietnamese company. Besides the Axie (AXS) tokens, the game also has a secondary token called Sleep Love Potion (SLP). These tokens are needed for breeding and selling Axie creatures, which have value as NFTs in the game. Additionally, you can farm, stake, rent, or sell your AXS and SLP tokens and Axie NFTs for money.

Decentraland on the other hand, capitalized on the P2E narrative and the concept of the metaverse, a 3D immersive digital world built on the blockchain. In addition to Decentraland’s token, MANA, the team introduced the concept of virtual real estate to the platform. You can buy virtual LAND and do with it, anything you can do to a real land.

You can sell, lease, farm, or build on your land. These virtual lands also have value as NFTs. The concept of virtual real estate is becoming a popular narrative in the crypto space and is projected to reach a valuation of $5 billion by 2026.

Earn Free Bitcoin By Performing Tasks On Faucets

If you are looking for a way to earn free cryptos without investing anything except your time, consider joining a Bitcoin faucet. A Bitcoin faucet is a BTC reward app or website where you get paid Bitcoin for completing simple tasks, like product reviews, taking surveys, watching ads, CAPTCHA tests, or logging into a website/app daily. 

Payment for faucet tasks is in SATOSHI, the smallest unit of a Bitcoin, but some websites set a limit on the minimum amount of Satoshis they pay. 

Making money through faucets is free but will likely not earn you much. The payments were much higher when Bitcoin faucets were introduced in 2010 by Gavin Andresen. Faucet participants were paid up to 50 BTC for these same tasks. 

Although there are many Bitcoin faucets available today, Cointiply and FreeBitco.in are among the best.

Cointiply is one of the highest-paying faucets, with many tasks you can complete. The platform has over $3 million users for whom they’ve paid over $12 million in Bitcoin. So,  it’s a pretty great faucet to consider.

On Cointiply, you will be paid for playing fun games both on mobile and desktop mode, participating in company and product surveys worth between $1 to $5 of coins. You can also get a 25% commission when someone joins the faucet with your referral link and 10% on their transaction fees.

You can also get paid for watching videos on Cointiply and once you have earned up to 35,000 coins, you can invest it into the faucet and earn 10% interest.

FreeBitco.in on the other hand, is one of the earliest Bitcoin faucets established in 2013. It pays up to $200 worth of BTC hourly and has over 19 million users, earning more than 179,325 BTC on over 90 billion games. 

FreeBitco.in is preferred for its user-friendliness. The game user interface resembles the casino-based dice game and is played similarly. Every hour, you will complete a CAPTCHA and roll a dice to get SATOSHIs.

Additionally, jackpot contests are organized weekly and monthly with bigger prizes to be won, and you can passively earn 50% commission on your referrals and their winnings.

Join Affiliate Programs Referral Commissions

Joining an Affiliate program is one of the simplest and most lucrative ways to make crypto money. For further expansion, many crypto exchanges offer affiliate programs allowing you to earn commissions for your referrals. By referring people to an exchange, you can be rewarded when they deposit money and earn a percentage of the transaction fees they pay. 

Affiliation is a great way to make money with crypto without investing or trading, provided you can convince people to sign up and use the platform.

Besides crypto exchanges, you can also affiliate with blockchain products like crypto cold wallets such as Ledger, Trezor, Ellipal Titan, etc. The companies pay out commissions for products bought through your referral link and sometimes reward you with some of their products.

Run Blockchain Nodes To Earn Passive Income From Transaction Fees

An exciting but technical way to earn passive income in crypto would be to run crypto nodes. Specifically, to run a lightning node (LN) on the Bitcoin network. This can generate passive income for node operators who earn fees for routing transactions through their nodes. 

This occurs on Bitcoin’s Lightning Network (LN), a Layer 2 scaling solution that allows faster and cheaper transactions.

However, keep in mind that running a Lightning Node requires technical expertise, software, hardware, and a strong internet connection. If you have the skills and resources to run a node, this is an effective way to earn passive income.

Make Money As A Web3 Freelancer

Another lucrative way to take advantage of web3 and the crypto space is to become a freelancer, offering your skills and services to crypto brands. 

Examples of skills currently thriving in the web3 space include blockchain and smart contract development, web development services, Artificial intelligence, digital marketing, content marketing, social media management, data analysis, etc.

You can earn a decent living from any of these skills in the crypto space and reinvest your income into cryptocurrencies. The average salary for most of these roles can go from $40,000 to $120,000 yearly.

Become A Crypto Lender And Receive Interest

Cryptocurrency lending is another way to make money from crypto. It involves lending your cryptos to someone else for interest. The interest you earn will depend on the type of crypto you are lending and the amount you are lending.

For those unaware, decentralized exchanges use an automated market maker (AMM) model instead of conventional order books, as on centralized platforms. The AMM requires sufficient liquidity for traders to buy crypto without a seller on the exchange. 

This is where you come in as a lender; you can lend your tokens to the decentralized exchange to provide liquidity. You will be paid a share of any trading fees collected on the respective tokens. 

One of the best crypto lending platforms is Aave. Aave is a liquidity protocol built around seven networks. It provides 13 markets, and lenders can take advantage of interest rates accumulated in real time. 

However, the APY is hard to pin down due to its incentivization protocol, but it ranges from 0.1% to 18% for some assets. For borrowers, the APR is as low as 0.1% (MKR), 0.5% (AAVE), and 1.3% (BUSD). However, interest rates for stablecoins tend to be higher.

Buy Cryptos At Discount Prices During the ICO Stage To Make Profit When Launched 

Participating in ICOs or presales is a great way to make money with crypto, as they can offer high returns on your investment. For an ICO, you buy a token at a discount from the listing price and profit from the price difference when the tokens are officially launched for public trading.

However, you should be aware of the risks involved. Fake ICOs exist, can rug-pull and result in losses, so ensure the ICO is legitimate before investing.

You can find a list of scheduled and ongoing ICOs on Coinmarketcap. Another way to find ICO and presales is on social media. If you are active enough, you can find projects with high prospects ICOs and you can invest in them long-term.

Earn Cashback Rewards When You Use Crypto Products and Services

Did you know that you can earn crypto for spending your money? This is the opportunity that crypto cashback products and services give you. 

You can receive cashback using crypto cards to spend your crypto or a local currency. Crypto cards are like regular bank cards with extra advantages- you can pay with crypto and earn free cryptos for any purchase you make with the card.

Several crypto exchanges, like Binance, Bybit, Coinbase, Nexo, etc., offer crypto debit cards that allow you to receive cashback up to 8% of your purchase. The cashback ratio also depends on your account holdings.

Shopping on crypto-friendly retail platforms is another way to earn free crypto through cashback. Over the past few years, one of the most significant developments to hit the retail market is adopting crypto reward systems for customer acquisition that is gradually replacing conventional marketing. 

The crypto-friendly Retail platforms use crypto rewards to attract and acquire customers. They often give discounts and crypto cashback to their customers. 

Two of the biggest crypto-friendly retail platforms are Lolli and Pei.

Lolli is a large US-based online retailer that lets you get crypto cashback when you shop at any retailer within their network. Lolli enables you to save up to 30% on your purchases at over 500 merchants, such as Expedia, Gap, OfficeDepot, Hotels.com, or even Groupon,

You only need to download the Lolli browser extension for your PC browser and set up a Lolli wallet so your crypto rewards can be sent to you. To use Lolli, you must be a US citizen.

Pei takes a similar approach to Lolli, offering US residents the opportunity to earn cashback in Bitcoin or USD on purchases from over 8,000 online retailers. You can cash it out to Paypal or convert it to gift cards. You can also share your referral links to earn cashback from spending via your shared links. All you need is to download the Pei app & link your debit/credit cards (preferably your crypto cards to earn more rewards).

Make Profits From Crypto Arbitraging

Some investors choose crypto arbitrage to make money with cryptocurrencies. Arbitrage involves buying a cryptocurrency in one crypto exchange and selling it on another. But profitable opportunities in crypto arbitraging are rare, and it’s not one of the quickest ways to make money in crypto.

The most basic form of crypto arbitrage is buying an asset in a market where the price is lower and selling where it is higher. The strategy is to take advantage of slight price differences of a cryptocurrency between different exchanges. 

To get started with a profitable crypto arbitrage trading business, you must carefully research and monitor the prices of cryptocurrencies on different exchanges.

Fluctuations in market prices, transaction delays, and fees associated with trading on different exchanges can all impact the profitability of your arbitrage trades. 

It’s important to be well-versed in the cryptocurrency market and take a calculated approach to managing potential risks. 

Take The Chance To Make Money Through Crypto Gambling

You may be the type who loves a little more risk, placing high stakes, and banking on your good luck. Crypto gambling is a way for you to make money in crypto, and it works just like traditional gambling but on the blockchain.

Many online BTC casinos are on the market today, and you can sign up to win bitcoins for free on the Internet. However, it is recommended that you play on reliable casinos like Lucky Block or TG Casino.

TG.casino offers 200%, up to 10 ETH on your first deposit. The app is available on any mobile device for easy accessibility to make money on the go. TG.casino also offers exclusive tokens that you can stake for passive earnings.

On the other hand, Lucky Block is the best crypto casino overall, with a 200% first deposit bonus and an additional 50 spins for playing. The occasion has over 5000+ games, so you can be sure to find the games you are good at to maximize your profits.

You can deposit in cryptocurrency and find hundreds of online games on either of these crypto casinos, including roulette, slot machines and even live casinos.