MAKING MONEY USING BLOCKCHAIN: FREELANCING, MINING, TRADING, AND MORE!
How can I make money with blockchains? I’m not a big company…
We are here to show you a few ways to make money with blockchain. You’ve heard about it. You know big corporations are getting in on the next technological wave. But, how in the world are you supposed to jump in on your own?
For most people, one of the biggest barriers in getting into cryptocurrency is a lack of investment funds. For others, they’ve invested what they have, but understand the profoundity of blockchain technology, and want to own more of a share.
Now, thanks to the growing demand, a burgeoning number of blockchain startups and recent developments in the space, you can work for cryptocurrency
on the blockchain. Plus, there are also other opportunities, like mining or trading cryptocurrencies too. Even selling membership access is a possibility.
While Millennials are certainly moving towards “alternative career paths” more often than their Generation X or Baby Boomer counterparts, there are countless ways for absolutely anyone to capitalize on the new wave of oncoming technology. Here, you’ll find an awesome starting point to making money and freelancing with blockchain technology.
Let’s start off with Freelance work…
How can I earn Bitcoin and Ether for Freelance Work?
Freelance Market Explosion
One in three Americans – about 42 million – are independent workers, according to The Freelancer’s Union. By 2020, many industry data researchers predict freelancers will make up half of the labor force. Internationally, almost 50 percent of managers in the UK and Germany are allowed to work remotely, with an estimated 800 percent increase in virtual workers (The Nemertes Research Group).
In addition to full-time freelancers, more people have been looking to branch out for extra income sources in what’s been termed – even by publications like Forbes – as “side hustles.”
The combination of these factors and the endless opportunities unfolding as new code is being written to expand opportunities on the blockchain, is making for a new frontier in the ability to work from anywhere in the world and earn cryptocurrency.
Problems with Fiat & Current Job Sites
Freelance job sites are ripe for disruption as the list of challenges in getting work online, and getting paid in a timely manner for that work, is long:
High Fees: Freelancer platforms on the current market charge up to 20 percent of the job rate. That doesn’t even include the extra three percent they charge to withdraw your own money! If you are working from home, this is a huge bite out of your hard-earned money.
- Influence of Central Authority: The platforms are centralized and come with all of the issues that include:
A lack of transparency into their algorithms and processes
They collect and own all of your data and profit from it
Questionable security
And so much more. Learn more about centralization vs. decentralization here.
Fake Reviews: There have been many cases of clients and freelancers trying to hack or cheat the system by creating fake reviews and multiple accounts. This highlights the main trust issue that non-blockchain projects face and make it difficult to know if you are dealing with a reliable entity.
Slow Payment Times: Not only do you get hit with fees, but fiat payments can take days or even weeks to clear through banks and make it into your account. Bitcoin and Ether payments can happen within minutes, and other cryptos are even faster.
In addition to these problems in the current systems, none of these sites offer freelancers the chance to earn in cryptocurrency. The only site that accepts bitcoin is Fiverr. However, the company only accepts it from clients, and they do not allow payments to freelancers in BTC… Oh, and they charge 20 percent for that too.
# **Freelance Marketplaces for Earning Crypto**
Without further adieu, here are the current platforms available to start earning in crypto now:
PLATFORMS FOR EARNING IN BITCOIN
This site matches employers with freelancers, provides escrow addresses to hold payment until job completion, and acts as third-key mediator in the case of a dispute. The site was founded in 2015, so it has quite a good array of jobs with work in legal, development, design, music, video, writing – and even has a section called “Fun or bizarre.”
Cryptogrind Layout
Unique Selling Point: The site has gained a good reputation in the community for its tight security that includes cold wallets only (private keys are never transmitted over the web) and touts itself as the only platform using multi-sig escrow accounts for crypto storage.
Earn in: Bitcoin, USD
Fee: Free to post jobs and submit proposals – 4% (2% client / 2% freelancer) on all completed escrow transactions. You can gain 2% of escrow fees back by referring an employer. If your referred employer signs up, you earn 2% of their escrows for life.
XBT Freelancer
Employers currently posting at XBT include blockchain giants like ShapeShift and Coinbase along with a host of other blogging, development, marketing, and search engine optimization jobs. The site has also been around a few years and has a good history in the community.
XBT Freelancer Layout
Unique Selling Point: The service encourages freelancers to establish milestones of set prices with employers. This way, if a job is long and complex, freelancers can get paid as they complete each milestone, and the employer can give consistent feedback that the work is satisfactory. The site also offers a how-to guide and a lot of great general information about bitcoin and freelancing.
Earn in: Bitcoin
Fee: There is no fee to list a job, submit proposals or accept a job. There is a 0.0005 XBT (USD 60 cents) miner fee to each bitcoin withdrawal to support the bitcoin network. Freelancers pay 10% on the total amount of milestones performed in a project.
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Edited article by: Ren Almonte
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