How to Make Money With Cryptocurrency in 2022

This year it has been quite difficult for people to make money with cryptocurrency. Unlike 2021 where most traders could make huge returns and many new founders became rich overnight, this year (so far) has been the exact opposite.

The neverending bear market has made it much more difficult for new crypto businesses and traders to make money. The question ‘ how to make money with cryptocurrency in 2022 ’ has risen significantly due to these struggles.

Nevertheless, you don’t have to worry. While currently, we have slimmer opportunities compared to last year, it’s still possible to make a good amount of money with cryptocurrency in 2022. There are a couple of different possibilities that we cover below.

(You might want to check our comparison article between centralized network vs decentralized to find out why cryptocurrencies are poised to take over the world in the long run despite the current market struggle)

One of the most obvious answers (and yet the riskiest) to how to make money with cryptocurrency is day trading. While HODL-ing might not be the best answer for this year, there are still a lot of day traders out there who make a decent amount of profit. Moreover, if you do day trading in crypto futures platforms, you might be able to generate profits from short positions as well.

Many veteran crypto traders don’t treat cryptocurrencies like religions. They can go long one day and then go short the next day. This is why you can still make money from trading crypto futures despite the bearish market. As long as there’s volatility, there’s money to be made. You can go to Binance Futures or other exchanges that offer futures to start day trading.

Another way to make money with cryptocurrency in 2022 is to find potential airdrops. Keep in mind that in the bear market there are not too many good projects that can promise you some airdrops, but they still exist.

For example, Arbitrum One (one of the most popular layer-2 solutions to Ethereum) might have some airdrops soon. Those who have used its bridge or dapp inside its chain might be eligible for the airdrop. Different projects have different rules for airdrop eligibility. You can always find all the potential airdrops here.

Another legit way to make money with cryptocurrency is to find a remote crypto job. Despite the bear market, the cryptocurrency industry remains one of few industries where many of the companies allow you to work remotely from anywhere in the world. For comparison, many traditional tech companies allow you to work remotely but they don’t allow you to work from outside their country. 

If you have some programming or data analysis skills, plenty of cryptocurrency startups are still hiring and still able to pay good salaries. Of course, you also need to be aware that crypto job offers in general have been going lower compared to 2021. They still exist though.

This is perhaps one of the most passive ways to make money from cryptocurrencies. Big investors can easily buy cryptocurrencies and stake them to get some interest. Many cryptocurrencies have adopted PoS (Proof-of-Stake) or DPoS (Delegated Proof-of-Stake) consensus algorithm, so you can just stake and earn interest from them.

Coins like ETH, DOT, ADA, AVAX, and many others allow you to stake or delegate your stakes and in return, you can earn interest from them. The APY (annualized percentage yield) varies from one coin to another, so you might want to stake the coins that you believe the most in the long run.

Another way to make money is crypto mining. This requires some investment on your part, just like the staking method above. You will have to buy some expensive computers to get into crypto mining, and then you can use these computers to mine cryptocurrencies that still utilize PoW (Proof-of-Work) consensus algorithm.

Of course, as everybody knows, the biggest cryptocurrency that utilizes the PoW mechanism is Bitcoin itself. You can also search for other cryptocurrencies where they still have PoW, and you can start making money from your crypto mining journey.

This is perhaps one of the biggest potentials from this list. When you have some entrepreneurial spirit and the right team to back it up, you can create your own cryptocurrency project. Cryptocurrency founders often make ridiculous amounts of money, although, of course, it depends on the project and the hype around it.

If you are interested in creating your own cryptocurrency, we have a tutorial on how to make one easily. Remember that the job is not just about creating the crypto token itself, you need to have the right project and know how to create hype around it. Good luck!

Another realistic method is to find new crypto startups and invest in their seed round. Since 2022 has been a bad year for the crypto market, many new startups become desperate for funds, and you will have better negotiating power to invest in their seed round (i.e., lower token price and better vesting periods).

Keep in mind that crypto startups investment is highly risky, and the company might screw your token investment by not releasing your tokens on time or just hold them hostage altogether. You must do a thorough due diligence and talk with a legal advisor before you decide to invest in any company’s seed round.

Unfortunately, the question of how to make money with cryptocurrency in 2022 is not easy to answer. All the methods that we have listed above have their own pros and cons, and you might want to try more than one of them to find out which method is more suitable for you.

Remember that some of these methods require big investment and higher risk tolerance, so you might want to choose them wisely. Overall, there’s always a way to make money in the crypto world, even when the market is not doing very well.