We live in a digital world today, and new ways of creating wealth have disrupted traditional commerce. In the past couple of years, digital assets have attracted major financial institutions and other corporations and gained considerable traction from retail investors in the space. Digital assets such as cryptocurrencies, stablecoins, tokens, and non-fungible tokens (NFTs) have created new ways to generate money and helped many investors make real-life fortunes.
If you are new to this space and looking for investment opportunities to build wealth,
Here are ten ways of making money with digital assets:
1- Cryptocurrency Staking
If you hold a cryptocurrency to make future profits, you can also enjoy extra income through staking rewards. Staking rewards are earned by regulating and validating a cryptocurrency’s transactions. You must own a minimum number of coins to become a validator and participate in the decentralized computer network. But those who don’t have enough coins to become a validator can pledge their assets for a certain amount of time with a validator and earn rewards. With crypto staking, your compensation depends on the platform, the cryptocurrency, and how many people are staking a given coin. The simplest way to begin crypto staking is through an exchange platform, such as Kraken, Binance, or Voyager.
2- NFT Staking
NFTs, non-fungible tokens, are tokenized assets that have created new ways to generate revenue. These tokens can be staked and maintained securely on NFT staking platforms like cryptocurrencies. NFT staking, a new-age alternative to making passive income, offers relatively high rewards for putting your unique token to work on the blockchain. You can make money by holding your NFTs on a compatible crypto wallet, sending them to a staking contract, and locking them for a certain period.
3- Day Trading
The Crypto market is one of the most volatile markets out there, making huge short-term price fluctuations (20–50% in a day). This volatility is a very lucrative instrument and creates an excellent opportunity for traders to make significant returns simply by buying and selling coins in a short period. These fluctuations may be based on market trends or simply rumors. Day trading is the answer if you want to make some quick money! You merely have to sign up on one of the crypto exchanges and trade your crypto or fiat currencies for profit. However, this requires proper analytical and technical skills to analyze market charts.
4- Lending Cryptocurrencies
Another emerging trend in finance and blockchain is crypto lending, Decentralized Finance (DeFi). It can help you make money while holding your cryptocurrencies by lending them to others at a certain level of interest. Since the crypto market is unregulated and volatile, the interest levels are relatively higher than the standard bank. Therefore, this is a great way to generate a steady passive income with your digital assets.
5- Land in the Metaverse
The Metaverse is like a digital realm of the future. Due to its democratic and decentralized nature, it provides enormous monetization potential for anyone looking to invest. Industry estimates suggest that by 2025 the Metaverse could cumulatively generate $1 trillion in value. Major companies like Facebook, Apple, and Nvidia have announced their plans to build and invest in the Metaverse. You can leverage this investment opportunity by buying, selling, and renting real estate in the Metaverse.
6- Video content/Courses
Creating video content to make money is one sector that has seen significant growth recently in the digital age. And contrary to popular belief, you do not have to devote countless hours to make money with video content. If thousands of people are doing it, you can too. To make money with your content, you must decide your niche and produce content that provides value. The content could be in any form – vlogs, reviews, courses, etc. For instance, many people now prefer taking classes from the comfort and flexibility of their homes. You can create and sell online courses to leverage this booming market internationally.
7- Domain flipping
Domain flipping is another very lucrative business. It refers to buying and reselling domain names from registrars for a profit. In the past few years, domain names have become hot commodities in the tech-centric world. You can make a good amount of money by identifying, buying, and holding quality domain names until you find someone willing to pay more for that name. However, you must understand that profitable flipping is a marathon rather than a sprint.
8- Stock Photos
Do you love to take photos? Thanks to modern technology, you may be able to turn your hobby into a side hustle to supplement your income. Photos are new hot digital assets that can be sold on dozens of online platforms. As a result, on average, photographers can potentially make between $500 and $1000 per month by selling stock photos. Simply register with one of such platforms, upload the photos you take for customers to select and use, and you’ll get paid every time a customer downloads your photo.
Over the past five years, Graphic Design has trended upward primarily due to the growing popularity of digital advertising. Although the demand from print media is expected to decline because of changing marketing channels, the industry’s online design segment is expected to expand significantly. So if you’re a graphic designer with an eye for aesthetics, you can sell your beautiful and representable designs as digital assets. These could include logos, infographics, websites, banners, and more.
You can make money selling ebooks if you are a great storyteller or an expert at something with lots to share. Ebooks are significant digital assets that require relatively low investment and are scalable. As per the industry reports, ebook sales have witnessed a massive explosion in the past few years. The growth is still happening exponentially. To start writing and making money through ebooks, you need a good dose of productivity, effort, and passion.
Modern wealth lies in a new, technology-enabled investment opportunity – Digital assets. They have become a growing part of current investment portfolios, and around 295 million people globally are currently invested in digital assets. These assets have proven to be an excellent method for long-term wealth generation and preservation. Now that you know how super-profitable these can be and how you can make money online, it’s time to act and dip your toes in the digital space. But, remember to be patient and persistent in this exciting journey.