TLDR
- People do make money in crypto. Some make a lot.
- Options range from actively trading to HODLing.
- Here are 6 methods you can try today.
If you’ve found yourself asking, “Can I actually make money in crypto, or is it just a flashy fad?” you’re not alone. It’s a question we hear a lot. Like…every day. The good news? Yes, people do make money in cryptocurrency. The better news? You can, too — if you play your cards right.
But here’s the catch (because of course there’s a catch): making money in crypto isn’t about hoping and praying your Dogecoin goes to the moon. It’s about understanding the game and knowing which strategies work best.
Whether you’re a total newbie or someone dipping their toes in Bitcoin, we’ve broken down six legit ways people are making money in crypto today. Grab a coffee and maybe your favorite crypto meme because we’re about to demystify this digital gold rush for you.
1. Investing (The Classic Buy and Hold)
This is probably the first method that comes to mind when you think about making money with crypto. It’s as simple as it sounds — buy a cryptocurrency, hold onto it for dear life (a.k.a. HODL), and wait for the price to go up.
How it works:
- You purchase cryptocurrencies like Bitcoin, Ethereum, or Solana when you think the price is reasonable.
- Then, you sit back and relax… for months, maybe even years.
- When the prices (hopefully) skyrocket, you sell and reap the rewards.
Most long-term investors focus on blue-chip cryptocurrencies like Bitcoin and Ethereum. Why? Because these two are considered the “OGs” of the crypto world — more stable and trusted than the 1,000 other coins out there.
Pro Tip: Before you decide to HODL, research the coin’s use case and long-term viability. If it’s trending on Twitter that some dude made in his mom’s basement, that’s a huge red flag.
2. Earn While You Watch Netflix – Stake and Chill
What if we told you that you could make money just by holding onto your crypto? Yes, that’s a thing — it’s called staking.
How it works:
- To stake, you’d “lock up” a portion of your cryptocurrency in a network (projects like Ethereum 2.0, Cardano, or Polkadot allow for staking).
- By doing this, you help secure the blockchain and validate transactions.
- You earn rewards (like additional tokens) as a thank-you from the network for participating in decentralization. The more people who participate, the more validators there can be, which means fewer entities have control. That is decentralization at its finest, and it’s the dream.
Staking is popular because you can earn passive income without selling your crypto. However, remember that staking rewards vary widely depending on your coin as well as the validator you choose.
Heads Up: Keep in mind that you can’t access your coins while they’re locked up for staking, so be sure you won’t need them for a while.
But!
New products called liquid staking tokens and liquid restaking tokens are a hot narrative in DeFi right now. Instead of locking up your tokens directly, you do it through a project like Lido and receive a receipt token that you can use for trading, farming, and lending.
3. Borrowing and Lending – Bank of Blockchain
Welcome to decentralized finance (DeFi), where you can lend out your cryptocurrency and make it work for you. Think of it as becoming your own tiny bank.
How it works:
- You use platforms like Aave or Compound to lend your crypto, usually to yourself.
- You borrow against your own collateral as you see fit or simply sit back and enjoy the interest you receive from lending your assets.
- The interest rates are often much higher than what traditional banks offer.
Why People Love It: Unlike traditional banks (hello, endless paperwork and hidden fees), borrowing and lending on DeFi platforms is fast, transparent, and accessible.
4. Yield Farming – Make Your Crypto Work Overtime
If staking and lending had a turbocharged sibling, it would be yield farming. Yield farming involves hopping between DeFi platforms to earn the highest possible returns on your crypto assets.
How it works:
- You lend your cryptocurrencies to liquidity pools on platforms like Uniswap, Curve, or SushiSwap.
- These pools fuel decentralized trading, and in return, they pay out rewards in their individual token or as trading fees in the tokens in the pool. For example, some protocols may pay fees on an ETH/USDC pool to users in the form of ETH and USDT in an amount that is based on the amount of liquidity they are providing. If a user’s funds make up 1% of the pool, that user will receive 1% of the fees. It doesn’t get any more fair than that, right?
- Some farmers move their assets around to chase the juiciest returns. These users are often referred to as mercenaries or mercenary capital.
The Catch: Yield farming does come with risks — a big one being “impermanent loss.” This means the value of your staked assets can fluctuate due to market volatility. Proceed with caution, farmer friend.
5. Trading – Surfing the Crypto Waves
If you’re willing to take risks and love the thrill of action, trading might be your thing. Unlike our laid-back HODLers, traders actively buy and sell cryptocurrencies, trying to profit in the short term. Traders help fuel liquidity pools. They are how the fees that farmers earn are generated.
Two Common Methods:
- Day trading involves buying and selling crypto within the same day. It’s all about quick decisions and leveraging market movements.
- Trading on perpetual exchanges (like GMX) involves leveraged trades — essentially amplifying your bets for potentially bigger rewards but also bigger losses.
Tools of the Trade: Successful traders rely on technical analysis, tracking charts, trends, and patterns before making moves. This isn’t your typical “YOLO-to-the-moon” vibe — trading requires skill, knowledge, and patience.
Warning: Crypto trading can be intense. You’re battling extreme volatility, FOMO (fear of missing out), and FUD (fear, uncertainty, doubt). Trade only what you can afford to lose.
6. Work in the Crypto Industry – The Safest Bet
Here’s a sleeper tip for cashing in on crypto without the stress of investing or trading — build a career in the industry.
Why This Works:
The crypto and blockchain industry is booming. Companies are looking for developers, marketers, designers, writers, and more. And the best part? Most positions pay in actual money, so you don’t even need to worry about market volatility.
Types of Jobs to Explore:
- Blockchain developers (a hot commodity if you know your coding stuff)
- Marketing or community managers for crypto projects
- Research analysts or content writers covering the evolving crypto space
And because the industry is still young, you don’t need decades of experience to get started.
What’s Your Crypto Path?
Crypto isn’t some magical fountain of instant wealth — it requires research, patience, and a solid understanding of your risk tolerance. But with its many roads to financial gain, you’re not stuck with just one way to make money. Whether you’re HODLing, staking, trading, or even working in the industry, the key is to start smart.
If you’re ready to dip your toes into the crypto waters, begin with a platform like Coinbase for buying and managing cryptocurrency. When in doubt — or when tempted by sketchy coins with names like “PizzaToken” — play it safe. Get up and walk away from your monitor.
