How to Get Rich off Crypto in 2024 – Top Methods Revealed
While there are never any guarantees in the fast-paced world of crypto, many investors have made unprecedented gains in recent years.
The purpose of this beginner’s guide is to explore how to get rich off crypto through a range of proven strategies and tactics.
10 Ways to Get Rich off Crypto
When exploring how to get rich off crypto, the methods listed below offer a number of different ways to make money in this space:
- Investing in Presales – Buy Newly Launched Crypto Tokens at Presale Prices
- Day Trading – Buy and Sell Crypto Throughout the Day to Make Regular Gains
- HODLing – Invest in Crypto and Hold on a Long-Term Basis
- Staking and Interest – Earn Yield on Idle Crypto Holdings
- Play-to-Earn Crypto Games – Earn Crypto Rewards by Playing Blockchain Games
- Crypto Yield Farming & Lending – Generate Income by Loaning Crypto Tokens
- Faucets – Complete Basic Tasks to Earn Free Crypto Tokens
- Airdrops – Receive Crypto Tokens on a Fee-Free Basis
- DAOs – Join a DAO and Help Make Important Project Decisions
- Mining – Earn Crypto Rewards via Cloud Mining Platforms
As is evident from the above list, exploring how to get rich with cryptocurrency may require a variety of different methods and strategies – all of which we discuss in the following sections of this guide.
A Closer Look at the Best Ways to Get Rich off Cryptocurrency
When learning how to get rich off crypto, it is important to understand the many different methods investors make money with cryptocurrency in 2024.
It is also crucial to have a firm grasp of the underlying risks associated with each strategy. After all, it is not possible to make money with crypto without taking an inherent level of risk.
To find out more about how to get rich off crypto – read on.
1. Investing in Presales – Buy Newly Launched Crypto Tokens at Presale Prices
When compiling this guide on how to get rich off crypto, we found that presales offer the overall best method to achieve this goal. For those unaware, presales – often referred to as initial coin offerings (ICOs) – are offered to the public by newly launched blockchain projects. Each project will create its own native crypto asset that will then be sold to early investors.
- Investors are motivated to gain exposure to the respective presale for many reasons.
- First and foremost, this offers an opportunity to invest in a brand-new cryptocurrency while it is still in its infancy.
- In turn, this sometimes means that discounted prices are offered to those that invest early, with a higher price when it reaches exchanges.
- Many crypto presales also come with staggered pricing through stages.
- This means that after each tranche of crypto tokens is sold, the price gradually increases.
- Once again, this is an incentive for investors to get in as early as possible.
- Third, and perhaps most importantly, after the crypto presale has sold its allocation, the tokens will then be listed on an exchange.
- This is often the moment that the token takes off and enjoys a huge upside.
It does, however, go without saying that finding the best crypto presales is the challenging part. Not to mention finding a crypto that will make you rich.
This requires comprehensive research from the investor – such as reading the whitepaper and exploring the credentials and previous achievements of the respective team. But this raises the question which crypto will make you rich?
To help clear the mist, we will now discuss three of the best ICOs in the crypto space.
Smog – Best Alternative to a Presale Token
Smog ($SMOG) is a major contender for presale alternatives. This box-fresh meme coin operating on the Solana blockchain bypassed the presale phase altogether and debuted on the Jupiter decentralized exchange in February 2024.
Within just 24 hours post-launch, $SMOG experienced a staggering surge, escalating by over 1,300%. Market capitalization, initially pegged at $2 million, swiftly ballooned to exceed $28 million.
You can get $SMOG tokens from the exchange, or use ETH or USDT to buy them directly from the Smog website. Staking initiatives are underway, presenting an opportunity for token holders to garner returns of up to 42%. Investors are incentivized with airdrop and community rewards, accessible just by holding $SMOG. The team behind $SMOG also plans to introduce engaging quests and challenges aimed at boosting airdrop points.
The airdrop date hasn’t been announced yet but Smog has committed 490 million tokens (35% of the 1.4 billion supply) to serve as airdrop rewards. Additionally, an allocation of 700 million tokens has been earmarked for project promotion.
| Presale Started | N/A |
| Purchase Methods | ETH, USDT, and Card |
| Chain | Solana |
| Min Investment | None |
| Max Investment | None |
Sponge V2 – The Next Big Thing in Crypto With Enhanced Utility and Lucrative Rewards
Sponge token garnered significant momentum despite being launched in a bear market in May 2023. It registered a market capitalization of US$100 million. The chances of growth and gain are even higher for Sponge V2 since it is coming in a bull market. What further enhances the chances of growth is that Sponge V2, the second version, is more utilitarian than V1.
The bridging from V1 to V2 includes the launch of a new ERC-20 token via a stake-to-earn method. Staking Sponge V1 to earn Sponge V2 comes with the incentive of a special V2 token bonus.
Sponge V2 comes with well-calibrated tokenomics, making it more efficient for the stakeholders. It only spends 7.5% of the total 150 billion token supply in marketing. More than 51%, on the other hand, is earmarked for staking and P2E rewards, with the former occupying the larger share of over 43%.
The upcoming Sponge V2 bespoke P2E game makes the token even more lucrative since users can purchase game credits with the tokens, and these game tokens subsequently pave the way for more token earning.
Take a look at Sponge V2’s whitepaper for more insights on the project, and follow it on Telegram and Twitter for regular updates.
| Presale Started | Underway |
| Purchase Methods | ETH, USDT, and Card |
| Chain | Ethereum |
| Min Investment | None |
| Max Investment | None |
Bitcoin Minetrix – Revolutionary Stake-to-Mine Crypto Tokenizing Cloud Mining, Presale Looking to Raise $32 Million
Investors looking to get rich off crypto could potentially diversify their funds into Bitcoin Minetrix ($BTCMTX) – a new stake-to-mine cryptocurrency platform. This platform will allow everyday people to profit from cryptocurrency and Bitcoin mining.
Bitcoin Minetrix will tokenize the cloud mining process by leveraging $BTCMTX, the native cryptocurrency. $BTCMTX token holders can stake their holdings on an Ethereum-based smart contract. Your locked tokens will help you earn cloud mining credits.
The cloud mining credits are ERC-20 tokens that cannot be traded. However, these credits can be accumulated and burned to earn Bitcoin mining power. The power is used to get allocated mining times and earn a percentage of mining revenues.
Since individuals do not have to purchase mining equipment and hardware by themselves, the cost barrier will reduce. Furthermore, since the cloud mining credits are recorded on the blockchain, they cannot be duplicated or forged. Thus, token holders will get autonomy and transparency over their holdings.
Staked token holders can also earn APYs (Annual Percentage Yields) as high as 1,500% through the staking mechanism. Interested investors can buy $BTCMTX through the ongoing presale for the current price of $0.0134 per token.
$BTCMTX has a 4 billion token supply, 2.8 million of which has been allocated for the presale. Investors can also send a referral link to others and get 5% off every purchase used through that link. The Bitcoin Minetrix presale has raised over $10.7 million since launch. Bitcoin Minetrix is aiming to raise $32 million from the presale.
Read the Bitcoin Minetrix whitepaper and join the Telegram channel to learn more about this cryptocurrency.
| Presale Started | 26 Sept 2023 |
| Purchase Methods | ETH, USDT, BNB |
| Chain | Ethereum |
| Min Investment | $10 |
| Max Investment | None |
2. Day Trading – Buy and Sell Crypto Throughout the Day to Make Regular Gains
Now that we have covered presales, we can now move on to the next strategy to consider when learning how to get rich off crypto. One of the most popular tactics in this regard is to day trade crypto with the view of making small but frequent gains. The main concept is to speculate on the rise or fall of a specific crypto pair – such as BTC/USD.
For example, if BTC/USD is priced at $50,000 – day traders will seek to determine whether this will increase or decrease within the coming hours or even minutes. Day traders never keep a crypto position open for more than a day – which in itself is a risk-management safeguard. But that begs the question – is it possible to get rich with crypto day trading?
Well, this all depends on the amount of capital that an investor has access to. If the day trader is entering positions with a small amount of money, then getting rich with cryptocurrency will be challenging. The only way around this barrier is to day trade crypto with leverage. Some exchanges in this space offer leverage of up to 100x.
This means that for every $10 in the trader’s account, a $1,000 position can be entered. This is why presales are arguably the best option when assessing how to get rich off crypto, as the upside potential is significantly higher when compared to restrictive day trading margins.
3. HODLing – Invest in Crypto and Hold on a Long-Term Basis
While day trading is somewhat limited in terms of the upside potential, this isn’t the case with ‘Hodling’. HODLing, which stands for ‘holding on for dear life‘, refers to buying a digital asset and keeping hold of the investment for many months or years. Crucially, long-term investors will typically outperform speculative day traders in the long run.
After all, by Hodling during an extended bull run, this can attract sizable gains. For example, in the most recent bull market, the likes of Dogecoin and Shiba Inu generated returns in the many thousands of percentage points. It is, however, important to do lots of research when selecting the best long-term cryptocurrency to buy.
Many investors will elect to build a diversified portfolio that not only contains Bitcoin but many of the best altcoins in the market. The more diversified – the better. Once investors have assessed the best crypto to buy for long-term Hodling, the investment can then be initiated at the trading platform.
4. Staking and Interest – Earn Yield on Idle Crypto Holdings
While staking and interest accounts will not necessarily enable investors to get rich, these methods are ideal for earning yield during a bear market. Crucially, it is best to earn interest on cryptocurrencies rather than leaving the tokens to sit idle in a private wallet. Staking is perhaps the most popular option in this regard.
This investment product typically offers investors the choice of fixed or flexible terms. The latter enables investors to withdraw their cryptocurrencies at any time, albeit, the interest rate on offer will usually be lower. To get the highest interest rate possible, investors might consider a fixed term – which could be anything from 30 days to an entire year.
The best staking platform in the market today is Quint. The reason for this is that Quint offers a unique feature called ‘super staking’. In a nutshell, investors will first need to choose their preferred staking pool and each option will come with a prize – such as a BAYC NFT. The more that is staked, the more ticket entries that are given for the competition.
While the competition period is ongoing, investors will receive staking rewards. Once the competition draw has been made, the winner will receive their prize. After that, all staking rewards can be withdrawn. The investor can then reallocate their tokens to enter the next competition draw while simultaneously earning rewards.
Bitcoin Minetrix, both outlined in detail above, also offers robust staking with huge rewards.
5. Play-to-Earn Crypto Games – Earn Real-World Crypto Rewards by Playing Blockchain Games
The next option to consider when exploring how to get rich off crypto is play-to-earn games. This concept enables players to earn cryptocurrencies simply for playing blockchain-based games.
Play-to-earn games come in all shapes and sizes with hundreds, if not thousands, now on the market. Like with Web2 gaming, that covers all genres and suits different styles of player – with sports games, RPGs, and racing games all available, as well as vast open world metaverses such as The Sandbox and Decentraland.
In those two games, players are able to purchase plots of virtual land and build and develop on them, as well as monetize them in various ways such as hosting concerts and charging admission fees.
The play-to-earn concept is especially attractive for those on a budget. The reason for this is that other than the initial cost of minting an NFT, the player will be required to dedicate time as opposed to money. As such, this represents one of the best ways to earn crypto with little capital.
6. Crypto Yield Farming & Lending – Generate Income by Loaning Crypto Tokens to Third Parties
Another way to earn rewards is via crypto yield farming. This is a form of lending that promotes a variable rate of interest. In its most basic form, the first step is to choose a suitable crypto yield farming platform – which will likely be a decentralized exchange.
After that, the investor will loan their cryptocurrencies to the exchange by connecting their private wallet. The respective tokens will then be used to fund a liquidity pool. This pool will then be used by traders to buy and sell cryptocurrencies on the decentralized exchange without an intermediary.
For providing the liquidity pool with cryptocurrency, the investor will earn a rate of interest that is often determined by the amount of trading fees collected. As such, this is a passive way to generate returns on idle crypto investments.
7. Faucets – Complete Basic Tasks to Earn Free Crypto Tokens
On the one hand, this strategy certainly won’t enable investors to get rich from crypto. But once again – the best crypto faucets are worth considering for those that wish to get a foot in the digital asset space without risking any money.
Put simply, crypto faucets are run by third-party websites that require people to complete super-basic tasks. As a prime example, this might be a requirement to download a new gaming app and play it for a number of minutes.
Alternatively, the faucet might ask the user to complete a captcha form. Either way, the user will receive a tiny amount of crypto after completing each task. While the amounts on offer are small and inconsequential. Crypto faucets are essentially risk-free.
8. Airdrops – Receive Crypto Tokens on a Fee-Free Basis
In a similar way to faucets, airdrops enable beginners to earn free crypto without needing to risk any personal capital. Once again, the amounts on offer will be inconsequential. Most airdrops are offered by newly launched crypto projects.
In return for completing tasks (like following the project on social media), free tokens will be sent to the user’s wallet. Once the token is listed on an exchange, the user can then elect to sell the airdropped tokens.
One of the most successful crypto airdrops of all time was the Bitcoin Cash fork in 2017. Anyone holding Bitcoin at the time would have received an equal number of Bitcoin Cash tokens.
9. DAOs – Join a DAO and Help Make Important Project Decisions
Decentralized autonomous organizations – or simply DAOs are a growing trend in the crypto space. In a nutshell, DAOs enable token holders of the respective project to vote in key decisions. For example, whether or not to upgrade the network from proof-of-work to proof-of-stake.
Those holding a so-called governance token are essentially part-owners of the cryptocurrency project. And in turn, if the value of the token rises in the open marketplace, this will enable the holder to sell at a profit.
However, do bear in mind that many DAO tokens have failed to live up to their initial expectations. As a result, the best approach to take when investing in DAOs is to build a diversified portfolio.
10. Mining – Earn Crypto Rewards via Cloud Mining Platforms
The final option to explore when evaluating how to get rich off crypto is crypto mining. This is a process that enables blockchain networks like Bitcoin to remain decentralized. In other words, miners are responsible for confirming transactions and ultimately – keeping the network safe.
Miners are required to buy specialist hardware that connects to the blockchain, in addition to consuming vast sums of electricity. In turn, however, miners will receive crypto rewards when they are successful in validating a network block.
The best way to target this space is via a cloud mining platform. The reason for this is that there is no requirement to buy any hardware or even consume electricity – other than what is required for an internet connection.
Cloud mining platforms pool investor funds together to pay for the required hardware and operating costs and share rewards on a proportionate basis. This means that cloud mining offers a passive form of income.
Can You Get Rich with Cryptocurrency? Things to Keep in Mind
Getting rich off cryptocurrency is possible, but far from guaranteed. Nobody quite knows what the future holds for digital asset valuations, regulation, and broader mass adoption.
Nonetheless, but following some of the tips discussed below, this will give investors the best possible chance of targeting above-average returns.
Target Returns
The first thing to consider when assessing how to get rich off crypto is the type of returns required. This will invariably be dependent on the amount of capital available to the investor.
- For example, with a starting balance of $100, established cryptocurrencies like Bitcoin and Ethereum likely won’t be suitable. This therefore raises the popular question ‘is Bitcoin a good investment in 2024?’
- This is because it is very unlikely that these projects have the capacity to generate gains of 100x and more – considering that they already have multi-billion dollar valuations.
With this in mind, those on a budget might instead consider crypto presales. Lucky Block, for example, generated gains of 60x after completing its presale in January 2022. Tamadoge was also successful, generating growth of 20x after its presale later on in the year.
As noted earlier, three of the hottest presales to explore right now are Dash 2 Trade, IMPT, and Calvaria.
Risk Tolerance
It is important not to get carried away with the upside potential of a cryptocurrency – whether established or in presale. After all, many cryptocurrencies have since failed while others are looking at a 90% decline when compared to prior all-time highs.
As such, investors should evaluate their personal financial circumstances and tolerance for risk when learning how to get rich off crypto. Ultimately, beginners and experienced investors alike should never risk more than they can afford to lose.
Independent Research
Make no mistake about – conducting independent research prior to investing in a cryptocurrency project is of the utmost importance.
This will give investors the best chance possible to separate the good from the bad. To get started, consider reading the whitepaper and exploring the team behind the project. If the team has decided to remain anonymous, this is a major red flag.
Diversification
Never go ‘all-in’ on a cryptocurrency investment – irrespective of how much research has been conducted. On the contrary, the most risk-averse way to invest in cryptocurrency is by diversifying.
Diversified portfolios generally hold multiple cryptocurrencies of all shapes and sizes.
To illustrate this point, this might include:
- Large-cap cryptocurrencies like Bitcoin and Ethereum
- Metaverse coins like MANA and SAND
- Smart contract coins like Solana and Tron
In addition to the above, diversified portfolios will often have exposure to crypto presales too.
Conclusion
Beginners are often looking to find ways to get rich in the crypto space. With that said, it is important to be realistic by considering important factors surrounding available capital, time in the market, and experience.
Nonetheless, investors of all skill sets are now turning to crypto presale launches as a way to target returns of 10x, 50x, or even 100x and more.
We would rate crypto presales as one of the best and most effective ways to make money with crypto, as they often offer discounted prices for new and exciting projects that can pump in price after launch.
One of the best presales right now is Sponge V2, which builds on the success of its predecessor. The original Sponge token thrived even in a bear market, reaching a market capitalization of $100 million. Entering the market in a bullish phase, Sponge V2, the second iteration of the Sponge token, is designed to be more utilitarian than its predecessor, thereby enhancing its growth potential.
How to Get Rich From Crypto FAQs
Can crypto make you rich?
Crypto is a high-risk, high-return asset class. This means that, on the one hand, it is possible to generate life-changing gains when investing in crypto. After all, during the most recent bull run, many projects increased in value by thousands of percentage points. However, many crypto projects have also failed, leaving investors with huge losses. As such, be sure to perform lots of research and ensure that the investment portfolio is well diversified.
How do people get rich using crypto?
Generally speaking, the most successful crypto investors are those that buy into a project while it is still in its infancy and then ‘HODL’ the tokens for a number of months or years. This is typically the most common way of targeting significant returns that simply cannot be rivaled in the conventional stock trading space.
How do you get rich on crypto fast?
Getting rich in crypto fast means taking on an extreme amount of risk. Those who are comfortable losing some or even all of their investment stake for the purpose of targeting huge gains might consider crypto presales. Alternatively, some high-risk investors will trade crypto derivatives with leverage of up to 100x.
