10 Ways to Make Money with Cryptocurrency in 2024
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This guide explores how to make money with cryptocurrency. There are many ways to make money in the digital asset arena, but in this guide, we will examine the best methods in more detail, including a step-by-step guide for each one. This includes everything from crypto presales and staking to day trading and play-to-earn games.
10 Best Methods to Make Money with Cryptocurrency in 2024
Before learning how to make money with cryptocurrency, consider the eight methods listed below:
- Investing in Presales & Top New Coins Early – Get the Best Price Possible on Favorable Coins such as Pepe Unchained.
- Staking Rewards – Earn Yield While Holding Crypto
- Play-to-Earn Games – Generate Free Cryptocurrency by Playing NFT Games
- Yield Farming & Lending – Deposit and Lend Crypto Coins to Earn Interest
- Day Trading – Actively Buy and Sell Crypto to Take Advantage of Volatility
- Long-Term Investing & Holding – Buy and Hold Crypto for Long-Term Gains
- Airdrops – Get Free Crypto Tokens for Completing Tasks
- Giveaways – Promotional Events to Raise the Coin’s Profile or Liquidity
- Faucets – Distributing ‘Drops’ of Crypto for Free
- Mining – Help Verify Blockchain Transactions Remotely Through Cloud Mining
To make money with crypto, it is best first to understand how each of the above methods works.
Best Way to Make Money with Crypto: Investing in Presales & New Coins Early
The ‘first-mover advantage’ is a concept that some of the most successful investors globally will incorporate into their investing strategy. The idea here is that by investing in an innovative crypto product, top utility token, or service early, this typically offers the most favorable entry price possible.
Although the first-mover advantage is no longer possible with legacy projects like Bitcoin, Ethereum, BNB, or Cardano, there are plenty of other undervalued cryptos and deflationary cryptocurrencies on the table. In fact, by doing the research, it is possible to find several low-cap crypto gems that are offering their token via a presale campaign at preferential pricing.
Want to know which crypto will make you rich? The sections below examine some of the best crypto presales to invest in 2024.
1. Pepe Unchained – New Ethereum Layer-2 Project for the Pepe Ecosystem
Pepe Unchained is a Layer 2 blockchain tailored for meme coin enthusiasts. Its transactions are 100x faster than Ethereum and instant bridging between ETH and Pepe Chain. With $PEPU, you can stake tokens for significant rewards.
Pepe Unchained’s multi-chain meme token is available on five blockchains, and community rewards for holders who spread the word make it a compelling choice in the presale market. To get the most out of this project, read the whitepaper, follow Pepe Unchained on X, and join the Telegram channel.
| Presale Started | June 2024 |
| Purchase Methods | ETH, BNB, USDT, Card |
| Chain | Pepe Unchained (Ethereum L2) |
| Starting Price | $0.008 |
| Current Price | $0.00994 |
| Price Change | +24.25% |
| Raised So Far | $18.2 million |
2. Crypto All-Stars – New Meme Coin Staking Platform Offering Attractive Yields
Crypto All-Stars is currently among the top meme coins to make money. Holding this coin will enable you to earn substantial staking yields on popular meme coins like DOGE, BONK, TURBO, and SHIB when the MemeVault feature launches.
During the presale, investors can stake their $STARS tokens with a generous APY of 720%. Since this APY is dynamic and decreases as more tokens are staked, it’s wise to stake early to maximize your returns.
Currently offered at $0.0014828, $STARS is available for early investors. After the presale concludes, they can buy in and benefit from high staking yields in the MemeVault. To stay informed, follow Crypto All-Stars on X and join their Telegram group.
| Presale Started | August 2024 |
| Purchase Methods | ETH, USDT, BNB, Card |
| Chain | Ethereum |
| Starting Price | $0.00138 |
| Current Price | $0.0014828 |
| Price Change | +7.45% |
| Raised So Far | $2.06 million |
9 Other Top Methods to Make Money with Cryptocurrency in 2024
In this section of our guide on making money with cryptocurrency, we will discuss the other methods listed above in great detail.
Not only in terms of how each method works but also what risks and upside potential to expect.
1. Staking Rewards – Earn Yield While Holding Crypto
Those wondering how to make money with cryptocurrency by staking have several options to consider. One of the best methods to consider in this regard is to sign up with a notable crypto staking platform. In a nutshell, staking is a tool that enables investors to generate interest in crypto assets that would otherwise sit idle in a private wallet.
The tokens will be deposited into a blockchain protocol behind the scenes to keep the network safe and operational. Subsequently, the tokens will generate interest, which is forwarded to the investor after the agreed-upon term. This might be a fixed term across 30 or 60 days, for example.
Alternatively, some staking platforms offer flexible terms, meaning investors can reclaim their tokens at any time. Yields often depend on the cryptocurrency being staked and the length of the term. In most cases, staking a smaller-cap token across a longer lock-up term will generate the highest yields.
In contrast, staking a large-cap token like Ethereum on a flexible term will likely yield a more conservative interest rate. Either way, choosing a suitable platform is the first step when engaging in crypto staking. One of the best options in this market is OKX. This large-scale crypto exchange supports staking across a wide selection of tokens and terms.
To offer some insight, large-cap tokens like Shiba Inu and Dogecoin can be staked on a 90-day term at an APY of 12% and 5%, respectively. Much higher yields are available on smaller-cap tokens like Zebec Protocol, which offers an APY of 60% on a 15-day term. The best staking deals on OKX often sell out fast, so stakers must act fast.
2. Airdrops – Get Free Crypto Tokens for Completing Tasks
Crypto airdrops are a near-risk-free way of earning tokens. They are typically offered by new projects to boost their market exposure. Participants usually complete simple tasks such as following the project on social media or safe listing their wallets to qualify for free tokens. Among upcoming airdrops, Best Wallet stands out as one of the most anticipated.
Best Wallet is gaining attention for its user-friendly design and enhanced security features, making it a strong contender in the crypto wallet space. As part of its launch, Best Wallet will offer an exclusive airdrop, expected to attract many users eager to secure early rewards. To participate, users need to register, engage with the platform, and complete specific tasks, making this a straightforward opportunity to earn free crypto tokens. After receiving these airdropped tokens, users are encouraged to explore the platform further by holding, trading, or using the tokens within the Best Wallet ecosystem, potentially benefiting from future growth.
For those seeking upcoming airdrops with solid potential, Best Wallet’s airdrop offers an exciting opportunity to earn free tokens and become an early supporter of a promising project. Don’t miss out on the chance to participate—check out the official website for details on how to qualify and maximize your rewards by completing simple tasks and getting involved.
3. Play-to-Earn Games – Generate Free Cryptocurrency by Playing NFT Games
When assessing how to make money in crypto, a popular option for those on a budget is to consider a play-to-earn game.
This concept is growing rapidly in cryptocurrency, as it offers many benefits that traditional gaming developers cannot rival. For example, play-to-earn games are usually built on the blockchain network.
This means that smart contracts back gaming outcomes for fairness and transparency. Moreover, when players earn in-game assets—such as weapons or armor—a unique NFT stored on the blockchain will represent this. In turn, the player will own the in-game asset, which means it can be traded on the open marketplace.
Furthermore, and perhaps most importantly, play-to-earn games enable players to win rewards. These are usually paid in the native token that fuels the game.
One great example is MemeBet Token. By investing in $MEMEBET, you can engage in the no-KYC Telegram casino while supporting the platform’s meme-themed gaming environment. Players can participate in various games and races, with the potential to multiply their $MEMEBET holdings through play-to-earn (P2E) rewards. MemeBet Token is currently offering a presale price of just $0.0256 per token.
4. Yield Farming & Lending – Deposit and Lend Crypto Coins to Earn Interest
The most passive way to make money on cryptocurrency is through yield farming or lending. Let’s start with the former, which generates rewards by lending idle cryptocurrencies to a decentralized exchange.
Decentralized exchanges utilize an automated market maker (AMM) model rather than conventional order books, as found on centralized platforms. This means that for traders to buy crypto without a seller on the other end of the exchange, the AMM requires sufficient liquidity.
Now, this is where the investor comes in, as idle crypto tokens can be lent to the decentralized exchange for liquidity provision. In turn, the investor will be paid a share of any trading fees collected on the respective tokens. Importantly, yield farming requires investors to provide tokens for a specific pair at an equal amount.
For instance, let’s say that the investor wishes to add funds to an ETH/DAI liquidity pool. At the time, ETH was trading at $1,500, and DAI was pegged to the US dollar at $1. If the investor deposits 2 ETH into the liquidity pool ($3,000), they must also provide 3,000 DAI ($3,000).
One of the best platforms for those interested in yield farming is OKX. Alternatively, investors might also consider DeFi Swap, which is in the final stages of launching its much-anticipated decentralized ecosystem for trading, yield farming, and staking.
Those who do not wish to provide liquidity to exchanges might instead consider a crypto interest account. The investor will deposit tokens into a platform, which will then be used to fund third-party loans. Borrowers will pay interest on the crypto assets, which are subsequently forwarded to the investor. Based on terms and the respective coin, yield will vary similarly to staking.
5. Day Trading – Actively Buy and Sell Crypto to Take Advantage of Volatility
Wondering how to trade cryptocurrency and make a profit? Day trading offers an alternative to long-term investing, as the process requires the trader to actively buy and sell digital assets to take advantage of market volatility. The trader will likely enter and exit several positions throughout the day, and avoid keeping a trade open past standard market hours.
You’ll have to make small returns frequently to make a profit with cryptocurrency day trading. You also need to have a solid understanding of how to analyze the markets if you want to make money with cryptocurrency via a day trading strategy. This means performing high-level research on the pricing relationship between two currencies.
For example, day traders buy and sell pairs, such as BTC/USD or ETH/USDT. To determine whether the pair should be bought or sold, the trader performs technical analysis. This means looking for trends and how current pricing levels might dictate the pair’s future direction. This can be achieved through economic and technical indicators, like the MACD or RSI.
Naturally, this isn’t something that can be mastered overnight. On the contrary, proficiency in technical analysis and chart reading can take many months or even years. A notable shortcut in this regard is to opt for the Copy Trading feature at a regulated crypto auto-trading platform.
It’s worth noting that Margex is a solid choice for day traders looking to capitalize on crypto volatility. It offers up to 100x leverage on popular pairs like BTC/USD and ETH/USD, which can multiply returns for traders with relatively small capital. The exchange also has a clean, easy-to-use design and many technical tools, such as advanced charting features, to help you analyze the market.
6. Long-Term Investing & Holding – Buy and Hold Crypto for Long-Term Gains
One of the most effective strategies for investing in cryptocurrency is seeking the best long-term crypto investments. Many of the most successful crypto investors adopt a buy-and-hold approach, which offers the potential for significant growth and is ideal for beginners. This strategy involves purchasing a chosen cryptocurrency and securely storing it in a private wallet, requiring no further action until it’s time to cash out.
By holding onto a cryptocurrency position long-term, investors can avoid the stress of constantly monitoring market prices and are better equipped to weather short-term volatility. This approach is particularly beneficial in the crypto market, which is known for its extended bull and bear cycles. For example, despite significant price fluctuations, long-term holders of Bitcoin saw its value soar from $5,000 during the early pandemic to over $72,000 in March 2024.
If you’re looking for excellent long-term crypto investments, new projects still in their early stages offer an exciting opportunity. By entering these markets early, investors can secure a favorable price and potentially capitalize on the future growth of these emerging assets.
7. Giveaways – Promotional Events to Raise the Coin’s Profile or Liquidity
Similarly, some projects will opt for crypto giveaways. This operates equally to crypto airdrops because the project will require users to complete specific tasks to be eligible for the giveaway.
Users can earn a free ticket for the giveaway by following the project on Twitter or joining its Telegram group. For the best possible chance of winning, users must complete all available tasks, resulting in the maximum number of free ticket entries.
Once the winners are selected, the organizer distributes the promised cryptocurrencies or tokens to their respective wallet addresses.
Giveaways are highly sought-out in the crypto community, which makes them a significant target for bad actors who try to carry out crypto scams. Legitimate giveaways should never require participants to send cryptocurrency or provide sensitive information such as private keys.
8. Faucets – Distributing ‘Drops’ of Crypto for Free
Another option for those wondering how to make money with cryptocurrency without risking any capital is to sign up with a faucet website. They are called “faucets” because they drip small amounts of cryptocurrency over time, just like a faucet drips water. Once again, the central concept is that users can earn free crypto tokens by completing basic tasks. In the case of crypto faucets, this could be anything from completing captcha forms to playing newly launched games.
The size of the rewards offered by crypto faucets is usually minute. This is often just a few cents worth of Bitcoin, so the process isn’t always worthwhile. On the flip side, depositing funds into the faucet website is not required, so it’s a risk-free way of earning crypto nonetheless.
Many faucets sustain themselves by displaying advertisements, and users may need to view or interact with ads to claim their rewards. Beware of scam faucets whose only purpose is to try to install malware on users’ devices.
While many crypto faucets offer small amounts of free crypto, Freecash provides a relatively more rewarding alternative for earning crypto and cash rewards. Unlike traditional faucets, Freecash allows users to earn significant amounts by completing various tasks, surveys, and offers. With Freecash, you can earn up to $20.18 per offer, with many users reporting earnings of hundreds of dollars within months. The platform offers instant cashouts starting at just $2, with options to withdraw in cryptos like Bitcoin and Litecoin as well as PayPal and gift cards.
9. Mining – Help Verify Blockchain Transactions Remotely Through Cloud Mining
Mining is the final option to consider when learning how to make money from cryptocurrency. This refers to the process of connecting specialist hardware to a desktop device, with the view of connecting to the blockchain network. In turn, the hardware will consume electricity to verify blockchain transactions.
When miners successfully validate a block, they earn rewards in the form of crypto tokens. Unfortunately, mining large-cap cryptocurrencies like Bitcoin is no longer feasible for the average user. On the contrary, the process is dominated by large-cap mining rigs with vast resources and access to the most specialist hardware technology in the market.
The good news, however, is that it is possible to mine cryptocurrencies without buying any hardware or consuming sizable amounts of energy. This is possible through cloud mining platforms that pool investor resources remotely. The process requires investors to deposit their chosen cryptocurrency and the cloud mining provider takes care of the rest.
The tokens will then generate yield, representing the share of mining rewards. The share will be proportionate to the amount deposited into the cloud mining site. Do note, however, that comprehensive research into the provider’s legitimacy is crucial. The reason for this is that many cloud mining platforms are scams.
There are numerous crypto mining sites and cloud mining projects available. One platform that particularly stands out is CoinMiningFarm. It has stood out for its focus on environmentally friendly mining practices, claiming that 90% of its energy consumption comes from renewable sources like geothermal and hydroelectric power. It has different contract lengths for different types of users, from a short-term 7-day plan for newbies to more advanced plans with daily rewards.
Methodology – How We Ranked the Best Ways to Make Money with Crypto
There are various ways to make money with crypto, and not all are created equal. The following methodology helped us assess the best ways to make money with crypto, placing an equal weight on the following four factors.
Earning Potential (25%)
To assess the earning potential of various ways to make money with crypto, we conducted thorough research into historical returns, current market trends, and potential future growth prospects. We analyzed factors such as potential ROI, passive income opportunities, and scalability of earnings.
Time Investment Required (25%)
We evaluated the time investment required for each method by considering factors such as the strategy’s complexity, the need for active management or monitoring, and the potential for automation. We also considered each method’s learning curve and how it may impact the time required to generate income.
Upfront Capital Needed (25%)
We examined the upfront capital needed for each method by considering factors such as initial investment requirements, equipment costs (if applicable), and additional expenses such as transaction fees or maintenance costs. We also assessed each method’s accessibility to individuals with varying levels of financial resources.
Level of Risk (25%)
To gauge the level of risk associated with each method, we analyzed factors such as market volatility, regulatory risks, security concerns, and potential loss of capital. We also considered each method’s historical performance and the likelihood of encountering unforeseen risks or challenges.
Top Platform for Making Money With Cryptocurrency
Learning to get into cryptocurrency starts with choosing a reputable, trusted crypto exchange. To get rich off cryptocurrency, investors have to choose a suitable platform to facilitate the transaction in question.
OKX is one of the best platforms for making money with cryptocurrency. It is known for listing up-and-coming crypto tokens that recently completed their presale launch. However, OKX does not list a coin without doing its due diligence. Very few coins make it past the stringent OKX verification procedure.
Another area where OKX shines is in generating a yield on crypto assets. This includes one of the best staking facilities in the market, with OKX offering double-digit APYs on various coins.
OKX offers alternative DeFi crypto profit services, such as interest accounts, yield farming, and dual investments. Those looking for the best crypto to day trade might also consider OKX for several reasons, including that it is home to more than 600 tradable markets alongside significant levels of liquidity and volume.
Finally, OKX offers a highly competitive fee structure. For example, spot trading markets attract a commission of just 0.1% per slide — that’s $1 for every $1,000 traded. Reduced commissions are offered on large trading volumes and to those holding OKB tokens. OKX also makes it simple for users still learning to get into cryptocurrency to buy crypto for the first time, as the exchange supports debit and credit card payments.
How to Trade Cryptocurrency and Make Profit – Our Conclusion
In summary, there are many ways to make money with cryptocurrency. While some methods are geared towards short-term rewards, others focus on long-term appreciation.
One of the best mechanisms for value investors to consider is to buy into high-quality crypto projects that are still in their infancy. We recommend Pepe Unchained as the best crypto to invest in right now.
Pepe Unchained offers 122% APY to token holders and is the first PEPE coin on its own blockchain.
How to Make Money from Crypto FAQs
Can I get rich with cryptocurrency?
Cryptocurrency investing should not be viewed as a ‘get rich quick’ scheme. Sure, some investors have done exceptionally well in this industry – especially those who could buy into projects like Bitcoin and Ethereum super-early. However, crypto is volatile, so investors need to consider the risks involved.
What is the easiest way to make money off crypto?
All cryptocurrency investment products and services should be viewed as high-risk. Nonetheless, those with a higher appetite for risk might consider investing in crypto presales, which typically offer the respective token at the best price possible.
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