Discover beginner-friendly ways to earn income through cryptocurrency and blockchain. Whether you're a student, professional, or just curious, these methods are easy to understand and practical to start.
Freelancing:
Use your skills like writing, designing, or coding to work online. Join websites like Fiverr, Upwork, or Freelancer and get paid for projects.
Online Reselling:
Sell clothes, gadgets, or home items using apps like Meesho or GlowRoad. You don’t need to keep stock — just share products and earn commission.
Content Creation:
Start a YouTube channel, Instagram page, or a blog. Share videos or articles and earn money from ads, sponsorships, and fans.
Affiliate Marketing:
Share product links from Amazon or Flipkart. When someone buys using your link, you get a commission. Great for people with blogs or followers.
Online Tutoring:
If you are good at a subject like Maths, English, or Coding, teach students online through websites like Vedantu or Chegg.
Selling Digital Products:
Make and sell digital items like ebooks, planners, or design templates on sites like Gumroad or Etsy. Create once, sell many times.
Dropshipping:
Open an online shop using tools like Shopify. When someone places an order, your supplier sends it directly to the customer. No storage needed.
Paid Surveys & Small Tasks:
Join websites like Swagbucks, Toluna, or The Panel Station to earn small amounts by answering surveys or watching videos.
Stock Photography:
If you take good photos, sell them online on platforms like Shutterstock or Adobe Stock. You earn every time someone downloads your photo.
Remote Internships or Part-Time Jobs:
Use sites like Internshala to find paid online internships or simple remote jobs you can do from your computer at home.
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Recommended
Coins and Their Purposes
If
you have no crypto assets yet, here are the coins I recommend for long-term
holding, to make sure you end-up making profits in time!
In the digital
age, the ideal brand-new currency should have at least these three
characteristics:
It should be free
from the control of any authority so that it cannot be manipulated and printed
at will (and devalued), and nobody can tell anyone what they can and cannot use
it for.
The currency
should be borderless, so that it can be easily exchanged across any location
with anyone.
It should be
apolitical, so as to not favor a specific system or group of people. In a nutshell,
these (among many others) are the characteristics of bitcoin, which looks like
an appealing alternative to any fiat-based monetary system.
Bitcoin is the
world’s first decentralized digital currency. Its value primarily comes from it
being the first digital currency that no single person, organization or
authority has control over. Anyone can buy it, anyone can receive it — and
nobody can tell anyone what they can or cannot do with it.
It is a money
free from dictatorship, oppression and hyperinflation, and a financial safe
haven for anyone living under those circumstances. It has a limited supply of
approximately 21 million total bitcoins that will never be changed, and we know
exactly how many are being released into the world at what rate, as well as
approximately when the last bitcoin will be created.
It is generally
more difficult to understand why a decentralized currency is valuable to people
who live in first-world countries because their society’s money is most likely
very sound, or so it appears to be. In order for people in first-world
countries to understand why bitcoin is valuable, they must recognize why the
fiat money system is unsound.
In reality, any
money controlled by a central bank is not truly sound, when you consider the
big picture. Generally speaking, governments have created monetary systems that
allow them to manipulate the supply of their country’s money, assuring its
value is backed by their word that it will always be worth something. The
problem is that “something” has slowly been worth less and less since fiat
money was taken off of the gold standard.
The reason for
this is simple: Governments like to spend more than they accrue from taxes and
other income streams; so, by their own power, they print enough money for their
needs. When more money is printed and put into an economy, it decreases the
value of each dollar already in circulation.
Bitcoin’s beautifully designed characteristics
mean it is poised to have an impact in people’s lives in the most unstable
economies (like Argentina and Venezuela, for example), where the government
heavily manipulates its money.
As a brief
primer, countries like Venezuela and Argentina have experienced times where
their governments printed so much of their own currency that their citizens
were not able to spend it fast enough before it would lose value. This has
happened multiple times in each country and, as a result, their entire monetary
systems fell apart, and affected citizens had to find an alternative medium of
exchange.
People are entitled
to freedom as a human right, and governments who ruin their own money arguably
take away their people’s economic freedom. Their access to the same economic
opportunities as the rest of the world is virtually non-existent, and thus the
greatest thing they desire is a currency that can’t be controlled by a reckless
central authority.
In 1912, Ludwig
von Mises, a renowned Austrian economist, wrote in The Theory of Money and
Credit that sound money “has two aspects. It is affirmative in approving the market’s
choice of a commonly used medium of exchange. It is negative in obstructing the
government’s propensity to meddle with the currency system.”
He continues, “It
is impossible to grasp the meaning of the idea of sound money if one does not realize
that it was devised as an instrument for the protection of civil liberties
against despotic inroads on the part of governments.”
WHY DO WE USE
FIAT MONEY?
The reason why
most people accept our current monetary system is because it’s what we have and
it’s what we have had for as long as we can remember. Because people alive
today were born into the existing system of government-issued money, most of
society has accepted that the gradual increase in price for everything from
groceries to education is a natural phenomenon.
It is hard to
believe that prices will gradually increase forever, and coffee could very well
be close to $20 per cup in 50 years (compared to the $2 average today and the
$0.15 it cost in 1920). We accept that these increases are the natural result
of inflation, which they correctly are, but the underlying reason why the
inflation occurs in the first place is due to manipulations of a central
authority. Unfortunately, when people are used to something for so long, they
naturally find it hard to believe that a newer way might be better.
WHY BITCOIN IS
VALUABLE
These core flaws
that plague the fiat monetary system do not exist in bitcoin. Bitcoin’s supply
is fixed by code that all participants of the network agree upon. The
distribution rate of new bitcoins into the world is fixed and transparent, as
is the approximate date when the last bitcoin will be created. Bitcoin also has
no public face that can strongly influence the direction of the currency. It’s
the correction of these flaws of our current system that bring value to
bitcoin.
Cryptocurrencies
have taken the world by storm. Since 2013, the value of all cryptocurrencies in
circulation has soared from $1.6 billion to more than $1.6 trillion at
Wednesday's prices, and roughly $1.4 trillion of that value was added in the
past year, according to CoinMarketCap.
Bitcoin has been
the leader of the pack, thanks to its first-mover advantage as the original
cryptocurrency. However, in recent months, Ethereum has stolen Bitcoin's
thunder. In the past year, Ethereum has gained roughly 1,600%, while Bitcoin is
up 300%.
Ethereum has
caught fire for a number of reasons, but the most important aspect of the
Ethereum network is its use of smart contracts. These smart contracts built on
the Ethereum network are spurring a couple of innovations that give Ethereum
its value: decentralized finance (DeFi) and non-fungible tokens (NFTs), whose
popularity should be closely followed by investors.
The DeFi movement
can't be ignored
One of the
biggest innovations spurred by the Ethereum network is DeFi. DeFi uses smart
contracts on the Ethereum blockchain to offer traditional financial products,
like insurance or loans, without the need of intermediaries like brokerages or
banks. Two hands, made out of digital networks, form a handshake.
These smart
contracts eliminate the need for a trusted third party to verify the
transaction. Nick Szabo, an early pioneer of digital currencies, likened them
to digital vending machines. Smart contracts are programmable contracts between
two parties that self-execute when specific conditions are satisfied. The third
party is eliminated because the contract is programmable and exists on the
blockchain, a secure and decentralized form of digital ledger technology.
The ultimate goal
of DeFi is to eliminate third parties and make financial products such as
loans, insurance, and trading more accessible to underserved markets. According
to World Bank, 1.7 billion adults across the globe lack access to banking
services. However, two-thirds of those do have access to a mobile phone and
internet connection, and could benefit from DeFi. Given the problem it looks to
solve, DeFi is a very attractive space right now.
A real-world
example:
Munich-based
Etherisc built its first product, flight delay insurance, with smart contracts
on the Ethereum network. It works this way: When a customer purchases flight
delay insurance, it's recorded on the blockchain in smart contract form. If a
flight is delayed by 45 minutes or more, the self-executing contract pays out
customers instantly. The smart contract allows the customer to avoid making
claims with an insurance company, making insurance more efficient.
Etherisc sees insurance as one industry ripe for
disruption by utilizing smart contracts, saying they could make the purchase
and sale of insurance more efficient, lower operational costs, and provide
greater transparency into the industry.
Ethereum leads
the pack when it comes to decentralized contracts, whose popularity has taken
off this year. According to DeFi Pulse, over $63 billion was locked up in smart
contracts as of Wednesday, a 65-fold increase from the $953 million locked up
in smart contracts just one year ago.
Leading the NFT
trend, too
The Ethereum
ecosystem is perfect for another purpose as well: non-fungible tokens.
One of the
problems in the digital age is the ease with which we can duplicate digital
assets like images, videos, and songs. NFTs aim to make digital products more
like physical ones, by giving them scarcity, uniqueness, and proof of
ownership.
NFTs have
exploded in popularity in the past year. According to NonFungible, there were
nearly $67 million in sales related to NFTs in 2020. So far in 2021, sales are
an astounding $840 million, representing over 11 times growth from last year's
total -- and the year isn't over yet. Comparing the full month of April to the
same month last year, NFT sales were up 82-fold. To say NFTs have exploded is
an understatement.
The Ethereum
network plays a key role in NFTs, as most NFTs are priced in Ether -
- the digital token
of the Ethereum blockchain. In fact, the earliest and most popular NFTs, with
names like CryptoKitties and CryptoPunks, are run on the Ethereum blockchain.
Ethereum is my
favorite cryptocurrency
While Bitcoin was
the original cryptocurrency, I think the smart contracts built into the
Ethereum network make it a better cryptocurrency to invest in over the long haul.
After all, there's no denying the popularity of DeFi apps and NFTs -- which are
largely hosted on the Ethereum blockchain.
However, when
dealing with cryptocurrencies, investors must be careful of a potential bubble,
especially in the NFT space. According to NonFungible, the average sale price
for crypto art had dropped 60% from its February high through the end of April.
If the NFT bubble does pop, Ethereum and other cryptocurrencies will take a
hit.
As an investor,
it's important to understand the volatility of cryptocurrencies and allocate
your capital accordingly. Despite how much I like Ethereum, I also know the
price could potentially correct 40% to 60% or more due to rampant speculation
in the space.
This doesn't mean it's a bad long-term
investment, though. The best approach as a long-term investor is to allocate a
small percent of your portfolio to the cryptocurrency and dollar-cost average
into that position over time. Dollar-cost averaging will help smooth out the
average price paid for your position, as you should be buying along peaks and
valleys along the way while keeping a long-term investment perspective in mind.
Cardano is one of
the biggest cryptocurrencies by market cap. It’s designed to be a next-gen
evolution of the Ethereum idea — with a blockchain that’s a flexible,
sustainable, and scalable platform for running smart contracts, which will
allow the development of a wide range of decentralized finance apps, new crypto
tokens, games, and more.
As of March 2021, however, smart-contract
functionality has yet to be rolled out by developers. An upgrade scheduled for
the second quarter of 2021 will unlock smart-contract features, bringing
Cardano one step closer to its goal of providing developers with a blockchain
platform that is robust, secure, scalable, and highly energy-efficient.
Much like the
Ethereum blockchain’s native cryptocurrency is ETH, the Cardano blockchain’s
native cryptocurrency is ADA — which can be bought or sold via exchanges like
Coinbase. Today, ADA can be used to store value (perhaps as part of your
investment portfolio), to send and receive payments, and for staking and paying
transaction fees on the Cardano network.
How does Cardano
work?
Cardano’s goal is
to be the most environmentally sustainable blockchain platform. It uses a
unique proof-of-stake consensus mechanism called Ouroboros, as opposed to the
energy-intensive proof-of-work system currently used by Bitcoin and Ethereum.
(Ethereum is also moving to a proof-of-stake system via the ETH2 upgrade).
What is proof of
work? Decentralized cryptocurrency networks need to make sure that nobody
spends the same money twice without a central authority like Visa or PayPal in
the middle. To accomplish this they use a “consensus mechanism.” The original
crypto consensus mechanism is called proof of work, first popularized by
Bitcoin mining.
Proof of work
requires a huge amount of processing power, which is contributed by virtual
“miners” around the world competing to be the first to solve a time-consuming
math puzzle.
The winner gets
to update the blockchain with the latest verified transactions, and is rewarded
with a predetermined amount of crypto.
What is proof of
stake?
Rather than using
a network of miners racing to solve a puzzle, proof of stake uses a network of
invested participants called validators. Instead of contributing processing
power to secure the network and verify transactions as miners do, validators
stake their own ADA.
The network
selects a winner based on the amount of ADA each validator has in the pool and
the length of time they’ve had it there — literally rewarding the most invested
participants.
Once the winner has validated the latest block of
transactions, other validators can attest that the block is accurate. When a
threshold number of attestations have been made, the network updates the blockchain.
All participating
validators receive a reward in ADA, which is distributed by the network in
proportion to each validator’s stake.
Becoming a
validator is a major responsibility, but interested parties can also earn ADA
rewards by “delegating” some of their crypto to a staking pool run by someone
else.
The Cardano
blockchain is also divided into two separate layers: the Cardano Settlement
Layer (CSL) and the Cardano Computing Layer (CCL). The CSL contains the ledger
of accounts and balances (and is where the transactions are validated by the
Ouroboros consensus mechanism). The CCL layer is where all the computations for
apps running on the blockchain are executed — via the operations of smart
contracts.
The idea of
splitting the blockchain into two layers is to help the Cardano network to
process as many as a million transactions a second.
What are Cardano native tokens?
On March 1, 2021,
the Cardano blockchain introduced the ability to create native tokens. Like
Ethereum tokens — which can include things like NFTs or stablecoins like USD
Coin — Cardano native assets can be created and distributed on the blockchain
and are able to interact with smart contracts.
But unlike
Ethereum-based tokens, Cardano native tokens aren’t created via smart contract.
Instead, they run on the same architecture as the ADA cryptocurrency itself.
According to the nonprofit Cardano Foundation, this makes Cardano native assets
“first-class citizens” on the blockchain. Their native architecture can
theoretically make these tokens more secure and reduce the fees associated with
transactions.
Coin
#4 : Polygon (MATIC)
What is Polygon?
Previously known
as Matic Network, Polygon is a framework for building interconnected blockchain
networks.
It seeks to address
some of Ethereum's major limitations—including its throughput, poor user
experience (high speed and delayed transactions), and lack of community
governance—using a novel sidechain solution.
Rather than being
a simple scaling solution like its predecessor Matic Network— which uses a
technology known as Plasma to process transactions off-chain before finalizing
them on the Ethereum main chain—Polygon is designed to be an entire platform
designed for launching interoperable blockchains.
Through Polygon,
developers can launch preset blockchain networks with attributes tailored to
their needs. These can be further customized with a growing range of modules,
which allow developers to create sovereign blockchains with more specific
functionality.
Polygon's
architecture can best be defined as a four-layer system composed of the
Ethereum layer, security layer, Polygon networks layer, and execution layer.
The Ethereum
layer is essentially a set of smart contracts which are implemented on
Ethereum. These smart contracts handle things like transaction finality,
staking, and communication between Ethereum and the various Polygon chains. The
security layer runs side by side with Ethereum and provides a "validators
as a service" role which allows chains to benefit from an additional layer
of security. Both the Ethereum and Security layers are optional
Beyond this,
there are two mandatory layers. The first is the Polygon networks layer, which
is the ecosystem of blockchain networks built on Polygon. Each of these has its
own community and is responsible for handling local consensus and producing
blocks. The second is the Execution layer, which is Polygon's Ethereum Virtual
Machine (EVM) implementation used for executing smart contracts.
Chains launched
on Polygon are capable of communicating both with one another and with the
Ethereum main chain thanks to Polygon's arbitrary message passing capabilities.
This will enable a variety of new use-cases, such as interoperable decentralized
applications (dapps) and the simple exchange of value between diverse
platforms.
Polygon:
Ethereum's Internet of Blockchains
Polygon is
designed to facilitate a future where different blockchains no longer operate
as closed-off siloes and proprietary communities, but instead as networks that
fit into a broader interconnected landscape.
Its long-term
goal is to enable an open, borderless world in which users can seamlessly
interact with decentralized products and services without first having to
navigate through intermediaries or walled gardens. It aims to create a hub that
different blockchains can easily plug into, while simultaneously overcoming
some of their individual limitations—such as high fees, poor scalability, and
limited security.
The Polygon
project is one of the more recent attempts at blockchain interoperability and
scaling, and is designed to address some of the perceived limitations of
interoperability projects such as Polkadot and Cosmos.
For one, it’s
compatible with the Ethereum Virtual Machine, which makes it approachable to
those accustomed to building apps on Ethereum and programming in Solidity; its
rival Cosmos uses a WASM-based virtual machine.
For another,
Polygon's shared security model is entirely optional; sovereign platforms don't
need to sacrifice any independence or flexibility for the sake of additional
security if it is not needed. It also claims to be flexible enough to
incorporate any scalability solution—beyond the current Plasma chains,
ZK-rollups, and optimistic rollups planned.
What is MATIC
token?
Although Polygon
has dramatically expanded on the vision laid out by Matic Network, it still
uses the same utility token, known as MATIC.
The MATIC token
is used for a variety of purposes in the Polygon ecosystem, including
participating in network governance by voting on Polygon Improvement Proposals
(PIPs), contributing to security through staking, as well as paying gas fees.
What is VeChain
VeChain is a
Singapore and China based blockchain company with operations in Europe, Asia
and America. VeChain was Co-Founded by CEO Sunny Lu and Jay Zhang in 2015.
VeChain’s vision
is to lower the barrier and enabling established business with blockchain
technology to create value and solve real world economic problems. Since its
inception, VeChain has managed to onboard an impressive list of enterprises
building applications on top of the VeChainThor Blockchain.
The VeChain
Foundation is responsible for maintaining the open source and public
VeChainThor Blockchain. The Foundation is governed by the Steering Committee,
which currently includes members from VeChain, DNV GL and PwC China. Important
decisions that need to be made are voted upon by all stakeholders in the
VeChain Ecosystem, making VeChain truly decentralized.
The VeChain
Foundation
The VeChain
Foundation, founded July 2017 in Singapore, is the overseeing body of the
VeChainThor Blockchain and ecosystem. The Foundation acts as a governing body
for real time decision making and is responsible for the growth of the
platform. The VeChain Foundation envisions a trust-free and distributed
business ecosystem to enable transparent information flow, efficient collaboration,
and high-speed value transferring.
Governance Model
Even though
decentralization is the cornerstone of Blockchain technology, complete
decentralization has been proven to have obvious defects in every applied
method, including Bitcoin and Ethereum. Idealized decentralization is an Utopia
even to the crypto and Blockchain world. VeChain believes in the balance of
decentralization and centralization on which the platform’s governance model is
designed. The balance between centralization and decentralization will vary as
the ecosystem matures, with a more centralized
structure at the start to enable rapid development and adoption, while slowly
giving more and more power to the community as the ecosystem matures.
Stakeholders with
voting Authority
The stakeholders
of the VeChain Foundation are the owners of VET as well as Smart Contract
Owners. The voting authority each stakeholder has depends on their role and VET
holdings. Stakeholders vote on important decisions such as the election of the
Steering Committee, or modifications to the VeChainThor blockchain, like its
consensus mechanism or technical parameters. Voting is done on the VeVote
platform. Learn more about VeChain’s Governance model by reading the VeChain
Foundation Governance Charter (Dec, 2019).
The Board of
Steering Committee
The Board of
Steering Committee is the governing body of the VeChain foundation. It
represents the interest of all of VeChain’s stakeholders. The Steering
Committee defines the strategy of the Foundation and selects the team leads of
the various operational teams. The Committee currently consists of 7 members
including the Founders as well as members from PwC and DNV GL. Every two years
all stakeholders can vote on who takes place in the Steering Committee.
The Advisory
Board
The role of the
Advisory Board is to give advice to the steering committee and help them with
the design, implementation, and vision of VeChain. The Advisory Board is
selected based upon their wisdom and experience they can offer to the
Foundation. Current members include Partners from PwC, Deloitte and members
from Breyer Capital as well as Fenbushi Capital.
The VeChain team
currently consists of over 100 full-time employees of which half are blockchain
developers. VeChain currently has 8 offices located in Asia, Europe and the
United States. The VeChain team is expected to hire an additional 100+
employee’s in 2019. You can read more about the VeChain team here.
The VeChainThor
blockchain
On June 30th
2018, the VeChainThor Blockchain was officially launched. The VeChainThor
Blockchain is compatible with dApps build on Ethereum, the VeChainThor codebase
is build from scratch and offers unique features that are not available on
Ethereum.
Proof of Authority
VeChainThor implements a Proof of Authority (PoA) consensus algorithm to create new blocks. PoA is an improvement on Proof of Stake, in which all nodes are validated and approved by a trusted central party (the Vechain Foundation) before allowed to add blocks. This eliminates the risks that come with having anonymous block producers, one of the key barriers given by enterprises.
Since all Nodes can be trusted, blocks can be validated faster and far more efficient compared to PoW and PoS, reducing costs for Blockchain users, while being safer and more energy friendly. To be an Authority Masternode (AM), the individual or entity voluntarily discloses who they are (identity and reputation by extension) in exchange for the right to validate and produce blocks. It is their identities and reputations placed at stake that give all the AMs additional incentives to behave and keep the network secure. Next to the 101 Authority Nodes, everyone is free to run a Thor Node and validate transactions.
In conclusion :
although I am not giving financial advice, if I were to start investing in
crypto these days as a beginner, these 5 coins would be my picks considering
each of the coins have a utility. To me this means these coins will be around
for the next 10-20 years at least. This then means if you hold these coins for
a long time, you will see gains as years go by! The longer you will hold these
coins, the more money you will make, that goes without saying!
