Ethereum is here to stay. At least for a while. And therefore many early adopters are looking for ways to make money with Ethereum. The cryptocurrency world is an industry that will make many millionaires and billionaires in the following years, and it’s your choice if you want to ride the wave and profit from this new technology.
If you are a bit tech-savvy then you should probably consider starting mining Ether. Especially if you think that this digital asset will keep increasing in value for the next year or two. This is important because depending on what mining equipment you buy and how much electricity costs where you live, it can take up to 6 months to pay back your initial investment. For this to happen it is very important for the price of Ethereum to remain at its current price. Of course, if it increases then this timeframe will be even shorter!
The people over at 99bitcoins have built an Ether mining profitability calculator. I highly recommend you to check it out before you purchase your equipment. This way you will know before hand if this little “venture” is going to be worth your time. Additionally, you will be able to predict how much money you will be earning from your mining rigs every month.
It’s definitely a nice side income to have! Especially if the electricity costs are low where you live.
Investing in Ether
Although this option may seem obvious, I thought it is a good idea to include it in this post along with some interesting facts. In 2016 alone, Ether increased in value by nearly 1.200%, and it is showing no signs of slowing down.
The creation of the Enterprise Ethereum Alliance in February has added a lot of credibility to the project and resulted in the price skyrocketing to new record highs. At the time I am writing this post the Ether price is around 350$. Many members of the ETHtrader community on Reddit, including me, expect Ethereum to hit 800 USD by the end of 2017. So there are still some profits to be made there.
While in most cases it’s not a good idea to do long-term price predictions, I do think that Ethereum might hit a market capitalization of 1 Trillion USD in the next 10 – 15 years. The current market cap is of 30 Billion USD. That would mean that every 1.000 USD you invest in Ether today, would be worth 30.000 USD in a decade.
Please, don’t take this as investment advice though, I’m not a financial expert.
Become a blockchain freelance programmer
Experienced blockchain programmers can earn up to 300K USD per year. And since there are rather few programmers with these skills and the demand keeps rising, you can expect this salary to skyrocket even more in the coming months.
Of course, we are talking about professional programmers with 5+ years of experience in the blockchain world. However, if you are interested in programming then it’s better to start learning now than never. One of the best resources I have found so far for learning blockchain programming is Basel Ismail‘s answer on Quora. He wrote there a very extensive guide on how to get started. Another good resource is Blockgeeks.com, you will find their website especially if you are a beginner in the programming world.
Once you feel confident enough to start selling your services as a blockchain developer, you have many platforms to choose from. The biggest of all is definitely UpWork, there you’ll find many clients looking for people like you to complete their project. Secondly, there is Freelancer.com, however, what I have noticed so far is that this platform is more focused on the lower end of the market. So you should expect to earn less on average on Freelancer.com than you would earn on another platform. And finally, there’s jobs.ethercasts.com and moneo.io, both platforms are targeted at the upper end of the market. I recommend you that you make an account at these two once you have at least 2 years of experience.
Every time a new technology pops up, newcomers need blogs they can trust to get their information from. As I have seen on my Google Analytics dashboard, the interest for content like “What are some real world uses of Ethereum” or “Ethereum price prediction 2017” has spiked like crazy. So If you are a good writer, a good researcher and you are passionate about cryptocurrencies, I strongly encourage you to start your own blog.
Once you get a decent amount of traffic you will be able to monetize it either by displaying Ads, selling courses, selling your own E-Book, or even through consulting services!
Feel free to leave a comment or drop me an email if you need any advice before you start building your own blog.
Make DApps and monetize them
Ethereum has made the development of a completely new category of software possible. Ethereum’s core technology can be used to make so-called “smart contracts”, which can be used to build DApps (Decentralized Apps).
DApps have practically limitless applications and it’s your task to come up with an amazing idea that you can later monetize. The cool thing about DApps is that once they are set up properly, they can make you money day and night without any need of maintenance or supervision. This allows you to eventually build up a portfolio of DApps that provide you with a nice monthly passive income.
An example of one extremely successful DApp is the online gambling website Etheroll.
And that’s all for today, my friends!
Please make sure to share your thoughts in the comment section below.
And as always,