Many are curious as to how they would be able to use blockchain in order to make money. Remember that the technology is still pretty new, which makes it great for finding new ways to make money that may not have been explored in the past yet so use your creativity a bit and see what you can find. There are quite a few ways that you are able to use blockchain technology and profit from it. Some of these include:
- Build your own blockchain: there are a lot of companies, financial institutions and otherwise, who are starting to see the value of using this kind of technology in their business to save time and money and to keep things secure. If you have the computer knowledge and the time, you can create one of your own blockchains and then sell it to these companies. This one is a bit harder to pull off compared to some of the other options, but it can certainly make you a lot of money.
- Add-ons: maybe you don’t have the knowledge to write out your own blockchain completely, but you have an idea that would make an existing blockchain more effective. You could build something that would be useful for another blockchain and then sell this as part of your service.
- Mining: this one is another computer programming option, but in order for the blockchain technology to work on Bitcoin and with other cryptocurrencies, they need miners. These miners are responsible for taking the transactions and writing out a code that will keep everything in place but which helps to keep it all hidden as well. If you are able to do this on your own or can use a good computer program for this, you will quickly make some good money.
- Be a salesperson: if you can’t design a blockchain on your own, why not become a salesperson for someone who is able to do it? If you know someone who is building an application for blockchain or their own blockchain, you can help them to sell the technology or find a customer who would be interested.
- Investing: sometimes just investing in a company that is designing an application or their own blockchain can be helpful. You will help them to have the money to get this done and once they sell or provide their services, you will earn some of the money as well. This helps you to get in on the deal without having to have any computer knowledge in the process.
- Teach: if you are really interested in blockchains and the technology that comes with them, you can create some lessons or some webinars that can teach others about this technology. Since it is becoming so popular and many companies and financial institutions are likely to start using this for their own business and transactions, you could make some good money teaching others how to use it, too.
- Business cases: sometimes you may be more of a planner rather than one of the designers. What you would be able to do with this one is look for a problem, or else look for a business that seems to have an important or urgent problem, that could be solved with the help of blockchain technology. You can then build up a business case for them to show the business how they would benefit from adding in this technology.
- Get involved in an event: There are a lot of different events that you can choose from, like a workshop, conference, or a hackathon in the industry that you are related to. You can help to run the event or else meet a lot of other people who could give you more ideas on what you could do to make money from this.
- Work for blockchain companies: there are some companies out there who already develop blockchain technologies and sell it successfully to other businesses. You could get in with one of these companies and learn so much more about blockchains. You would get the benefit of experience that you could use later on to start your own endeavors while also making a paycheck in the process.
- Invest in the knowledge: there are always companies who are looking to work in blockchain or make the next great idea that will help them to get rich with this technology. You may not be able to design this on your own, but supporting someone else who can with your investment will make a difference. Make sure there is a good deal in place so you can get paid when they earn a profit and you can make some good money without having to be actively involved.
- Run a business on the cryptocurrency network: some people use the blockchain to help them run their own businesses. They will have their products and services available on Bitcoin or another network and then accept that kind of currency. This is kind of an indirect way to make money with blockchain, but if you are using one of these networks, it is impossible to get paid if the blockchain is not present and working in the correct way.
As you can see, you can find a lot of different ways to start making money with the help of blockchain technology. It is often going to depend on the amount of time that you have available to use with this type of endeavor and even what talents you have. Not everyone has the talents to work on creating their own blockchain or a blockchain application, but may people could choose to invest in a company that can design these. Knowing your talents and doing some research can help you to make more money in this new field.
