There are numerous ways to make money in the crypto-verse. There appears to be something for everybody tech-savvy enough to make crypto work for them, from mining and staking to yield farming and selling NFTs.
However, there are non-crypto ways to profit from crypto. Continue reading to learn about a few products and services you may offer to generate money in the crypto sector without ever touching crypto.
For crypto investors, accounting and tax help is available.
Tax counsel is required for cryptocurrency traders and investors. Changes in the regulatory landscape frequently result in changes in how your crypto returns are taxed.
You can provide consulting services to crypto investors or blockchain businesses if you are an accountant or have a background in finance. You can help them figure out how to classify their crypto-asset returns as capital gains or company income, as well as how to negotiate the tax system. They can pay for your services in exchange. (Even if it’s in fiat!)
Cryptotherapy is a type of treatment that uses crypto
Many crypto traders, according to a study, exhibit tendencies similar to those seen in other addictions like alcohol and gambling. Cryptocurrency offers the possibility of life-changing riches, but it also carries the danger of significant loss.
These highs and lows are at the heart of addiction, and this is amplified in bad markets, with many traders enduring insomnia and acute anxiety.
You can offer your services on crypto forums or social media if you are a certified therapist. Set up in-person or online therapy sessions and offer your skills. Individual or group treatment sessions are possible. This, however, only works if you have a basic understanding of what’s going on in the crypto world.
Companies that deal in cryptocurrency are continuously looking to expand into new markets. They will eventually require the assistance of a commercial lawyer to provide legal advice on how to structure their firm in several jurisdictions. This could be something for you if you are a practicing lawyer with knowledge of the crypto world.
You can provide guidance to crypto businesses on how to arrange their products and services in accordance with the legal frameworks in place in their respective jurisdictions. This will go a long way toward decreasing any disparity between businesses, governments, and other stakeholders. Also, don’t forget about legal conflicts in the crypto space, which could bring in new clients.
Cryptocurrency investors can get a second passport.
For a variety of reasons, cryptocurrency investors may choose to obtain a second passport to go to another country. These include safeguarding their assets against unilateral government seizures, avoiding censorship, and locating low-tax areas, among other things.
You might offer advice and assistance to “whales” in obtaining second passports to secure their significant crypto holdings. They may pay you a facilitation fee in exchange.
Construct a Bitcoin and cryptocurrency mining container.
Mining farms for Bitcoin (BTC) and other cryptocurrencies are massive clusters of miners housed in a warehouse. Setting up a mining farm necessitates a significant financial commitment as well as access to inexpensive electricity. Setting up a mining farm was once a simple task, but it has become increasingly challenging in recent years.
For example, Enigma, a crypto mining farm, was originally housed in a cluster of unremarkable metal structures. Entrepreneurs might assist set up warehouses or containers for mining equipment by offering their services. Depending on the resources available and the magnitude of the operation, this can be customized. Furthermore, crypto mining at home is attracting an increasing number of enthusiasts, who require mining-related products.
Mining farms require cleaning and simple maintenance.
You can provide Bitcoin mining operations with basic maintenance services ranging from minor rig dusting to technical debugging. This might entail deploying a blower to blow off the tops of the rigs while production is still going on. Deep cleaning will entail dismantling the rigs, entering them, and scrubbing them thoroughly.
You can also inspect mining rigs for variations, replace GPU risers that aren’t working, and so on. You can approach a mining farm and ask to provide this service on a part-time basis.
Frames for GPU miners are in short supply.
Cases or frames can be made and sold to mining rig firms. Alternatively, you can sell them to individual crypto miners who are looking to replace or increase their hardware specifications via online shops or forums. You may either make a low-cost mining frame or one that can hold up to 12 graphics cards. You can accept fiat or cryptocurrency as a form of payment.
Using the energy generated by cryptocurrency mining
The heat generated by Bitcoin mining can be used to heat private residences. To create enough energy to heat a business or a dwelling, numerous mining rigs must be functioning at the same time.
Mint Green, a cryptocurrency miner, recently announced a partnership with North Vancouver to generate enough energy to heat 100 homes. Profit can be made by selling the power.
Create hardware wallet accessories.
You might potentially construct high-end hardware wallet designs and propose them to Trezor and Ledger, two well-known hardware wallet firms. These accessories can be designed to be utilitarian or merely attractive to the eye. There are plenty of other accessory ideas that may turn into a successful revenue stream.
Get a job with a crypto company.
Finally, the crypto industry is always in need of talented individuals. Developers, digital marketers, content writers, user interface/user experience experts, business developers, and others are among the professionals sought by crypto-friendly businesses.
If you want to get your hands on some crypto, crypto companies can offer appealing wage packages that may include compensation in digital currencies.