Bitcoin has since become a household name and just about everyone wishes they had the foresight to buy it when it was still affordable. The phenomenon of cryptocurrency has taken the world by storm and it’s leaving many to wonder what the next big thing might be. And if you are one of those people, you’re probably wondering how you can start making money on blockchain, too.
While cryptocurrency is still in its toddlerhood, there are still many more applications being developed that could prove to be quite fruitful. Even the underlying blockchain technology is being developed for use in many different applications and could be a major economic boon to those doing the work of developing it.
With all this new technology, is there a way to invest in its success?
If You Can’t Buy Bitcoin, You’re Not Out Of The Market
If you had invested $100 in Bitcoin back in 2011, you’d have about $1.7 million today. That doesn’t mean you’ve totally missed the boat on investing in this new family of technologies. Cryptocurrencies are just one offshoot of this technology and there are dozens of different kinds you could invest in.
There are also cryptocurrencies you can earn without exchanging actual money for them. These are things like attention tokens, cryptocurrency payments for freelance work, and even airdrops for holding stake coins in your active accounts.
You can play games for tokens, earn tokens for learning new things, and even mine cryptocurrency with your computer. You can even rent space from a server to do the same. There are more options for owning cryptocurrency than simple exchanging cash for Bitcoin.
Even Without Cryptocurrency, You Can Still Invest In Blockchain Technology
Blockchain technology is the underlying framework for cryptocurrencies. Businesses are finding new applications for this technology daily.
Some companies are developing blockchain real estate records for use in places where government corruption can cause people to lose their land and their homes when politicians want to take them over. Healthcare companies are banding together to use blockchain technology to create ledgers for non-protected health information, such as doctor’s office addresses and telephone numbers. The data can easily be shared and updated across networks with minimal human interaction, thereby saving the entire industry on non-healthcare related costs.
There are many ways to invest in these ideas. You can invest in companies such as IBM, which has developed the Hyperledger technology. Many companies are using it to develop their blockchain applications. You can also invest in mining and trading platforms that support the creation and transaction side of the cryptocurrency market.
There are also emerging blockchain-as-a-service providers, major companies making the transition to blockchain, and innovators developing completely new businesses based on the capabilities of blockchain. All of them are going to need capital from outside investors to make it happen.
Or Maybe You Could Get A Job In Cryptocurrency Or Blockchain
Did you know that the average career in blockchain pays 62% more than jobs in traditional industries? And just last year, there was a 300% spike in job listings for cryptocurrency and blockchain-related jobs.
You don’t even have to be a developer to land a job in this industry, though those are certainly the most in-demand jobs right now. One company advertised a job for a “meme specialist” about two years ago. There are opportunities for compliance, marketing, social media, and risk analysis professionals among many more. Cryptojobslist.com is a great place to search listings for these careers worldwide.
But even if you just want to dip your toes into this segment of the market, there are several platforms for hiring freelancers. Many of them pay in cryptocurrency of some kind. They include:
Storm– Earn cryptocurrency for performing microtasks
Ethlance- earn Ethereum for performing freelance tasks
BountyØx– Earn cryptocurrency for verifying the work of others
The Cryptocurrency And Blockchain Ship Hasn’t Even Left The Dock
Even though the Bitcoin ship has long since sailed, that doesn’t mean there aren’t plenty of other opportunities to get in on the ground floor of blockchain and cryptocurrency technologies. Those ships are still stocking up to leave the harbor.
Learn more about the wide variety of possibilities for investing in these technologies from the infographic below. There is still plenty of time to capitalize on blockchain technology. Which route will you take?
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Author: Brian Wallace
Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, and hosts the Next Action Podcast. Brian has been named a Google Small Business Advisor for 2016-present and joined the SXSW Advisory Board in 2019.