There are some ways in which you can make money with Ethereum Blockchain which will be discussed here. So without wasting time lets begin with Ethereum Blockchain.
Introducing Ethereum Network
Ethereum is the second largest Blockchain technology and cryptocurrency in the world and holds a lot of clout in Crypto World. Ethereum is not just a crypto working on a network but it also provides access to others with the help of smart contracts and building distributed applications (Dapps). Ultimately, Ethereum gives a lot of opportunities in the world of an action.
Recommended: Explain Ethereum Blockchain Briefly?
There are some ways in which you can make money with Ethereum
1. Buying and Selling Ether –
In the year 2017, Ethereum had surged from $7 to $800 by the end of the year. At the beginning of the year 2018, the price of Ethereum had surged to $1200 line. Furthermore, These ups and downs in the price of the Ethereum show there are lot more speculations left with ethereum.
Areas where Blockchain Business can set up
- Authorship and ownership
- Data Management
- Identity and Authentication
- Job Market
- Media and Content distribution
- Real Estate
- Social Networks
- Also, Some Crazy ideas where Blockchain is implemented
- Keeping Privacy Secure with Blockchain
- Voting â€“ Sovereign app, the goal of eliminating electoral corruption and fraud.
- Trading Commodities from seed to oil in a decentralized platform with the help of Blockchain Technology.
- Sharing solar power â€“ In Brooklyn, people with solar power panels can monetize by providing panels to leverage others and earning tokens in return. Company â€“ LO3 Energy
- Virtual cats Business â€“CryptoKitties, buying virtual cats with $1.3 million in transactions of virtual cats within a month.
- Improving Government Efficiency â€“ Government is benefited to perform public functions which can reduce corruption and enhance productivity and security in the process of government.
- Medical â€“ Helps in keeping records of the patient, According to MIT Media Lab, MedRec is, â€œa novel, a decentralized record management system which is highly secure for accounting and data sharing ensuring confidentiality.â€
- In addition, Tacking the Refugee Crisis â€“ UNWFP sent over 10,000 Syrian refugees cryptocurrency-based vouchers.
Mining Ethereum is not the best way of making money but you can make passive income if electricity cost in your country is less. Making money with mining is competitive so, cost of hardware is increased. However, Mining should be affordable.
4. Developing applications
Making Dapps with an open-source ecosystem which gives you the opportunity to make apps with smart contracts functionality. Furthermore, Dapps are the future of applications as they are secure and serverless.
5. Blogging about Ethereum
Blogging can also be profitable because Ethereum is a lot more in trend and people are interested to find a blog on blockchain technology. Furthermore, there are many affiliates for a crypto market.
6. Creating Courses
Creating blockchain courses and selling on Udemy can also be useful to generate some income. In addition, you will also collect fame by creating interesting videos with a sound income.