5 Ways Africans can make money with Blockchain
Already, many Africans have been leveraging their idle funds for yields, earning passive income with new blockchain-based protocols. But some are still figuring out ways to make money with digital currencies.
If you are one of them, here are some proven ways Africans can make money from blockchain technology. These recommendations are based on insightful analysis from reliable sources such as Investopedia, CoinDesk, etc.
Mining
According to Investopedia, crypto mining is one of the most profitable ways to earn a decent income with blockchain without putting money down. Skilled Africans can make money and earn rewards in this industry for completing blocks. Mining involves verifying and validating bitcoin transactions for tokens and other prizes.
These transactions ensure the bitcoin network security and compensate miners with digital currencies. If you’re skilled at crypto mining, you can earn digital currencies as a passive income without staking money. The most exciting part of digital currency rewards is that the price appreciates every time bitcoin prices exceed the mining cost.
Many Africans don’t mine crypto due to the high-end equipment involved in setting up a rig at the beginning stage. But that’s not the case anymore. Africans with access to the internet can download mining applications to smartphones or PC.
So, you can earn a decent income using this blockchain strategy without leaving the African continent. With fewer electricity costs and startup capital, you can earn digital currencies as rewards without educational qualifications or background.
Join Cryptocurrency Companies
According to emerginged, collaborating or joining cryptocurrency companies is one of the easiest ways to make money with blockchain technology. While blockchain brings innovation to different economic sectors, skilled Africans can earn a decent income from the technology. Working with a cryptocurrency company is lucrative, and Africans can benefit without leaving the continent’s shores.
The idea is to partner with a crypto company as the industry accommodates all professionals. Most crypto companies employ remote workers with flexible work hours, making it ideal for Africans. So, whether you’re in Nigeria, Ghana, Cameroon, Tanzania, Zambia, Congo, or South Africa, you can earn a decent income from the blockchain without national barriers.
Figure out how to help crypto companies with valuable skills and reach out for collaboration. African finance consultants, web designers, engineering, sales, content, and digital marketers can make a living in this industry with rewarding opportunities. While there are remunerations in fiat, Africans also get compensation in digital currencies.
Cryptocurrency Faucets
According to 99 Bitcoins, cryptocurrency faucets are lucrative and a fast way to earn a decent living in the blockchain industry. While crypto faucets refer to websites giving out digital currencies, you accomplish a small task in exchange for rewards. Although the rewards are significantly small, cryptocurrency faucet owners earn a passive income in the industry by placing adverts on the websites.
These websites are highly engaging, and you can build a faucet in 10 minutes by signing up for a Bluehost account. Consider installing a faucet WordPress plugin to prevent third parties from stealing your information or rewards. Like water drips from your kitchen faucet, digital currencies drip into your wallet with this strategy.
Bitcoin faucets are popular and rewarding, but they require you to watch videos, watch ads, or play games for rewards. These games are fun and easier to play for digital currency rewards, making faucets ideal for skilled Africans.
Operate Cryptocurrency Master Nodes
Coin Desk believes operating crypto master nodes is a lucrative and passive way to earn a decent income with blockchain technology. While cryptocurrency master nodes have become prevalent, it is complex, flexible, and rewarding. A node refers to a device operating within a network with operational support.
Although nodes vary in type, each has different capabilities and responsibilities with specialized permissions and functions. A master node is a governing hub in cryptocurrency networks playing a critical role in transaction validation. Master nodes are computer wallets maintaining real-time records of all blockchain activities, making it a passive income idea for skilled Africans.
If you’re skilled in master node operations, you can earn a decent income in this industry. Most crypto platforms outsource and pay professionals for record maintenance. You can make money with blockchain as this process is complex and requires multiple nodes for maintenance, and platforms outsource their services at a fee.
Earn While Playing Games
According to Go Banking Rates, earning by playing crypto games is a lucrative revenue stream for players in the blockchain industry. While playing crypto games has become popular, earning digital currencies with real-world value is a profitable opportunity for skilled Africans.
The industry is rapidly evolving and an attractive source of income for skilled Africans. If you’re an intermediate or master at online games, this strategy is an opportunity to make money from the blockchain.
The idea is to sign up on crypto platforms to play games like Axie Infinity, Alien Worlds, Decentraland, Zed Run, SandBox, etc. These blockchain-based projects are play-to-earn games with rewarding opportunities for Africans. Besides, you can earn a passive income by playing these games on various platforms.
Conclusion
Africans can earn a desirable income from blockchain technology through mining, collaborating with cryptocurrency companies, or faucets. You can also make money by operating cryptocurrency master nodes and earning while playing games.
The blockchain industry is lucrative and earning a decent income is a step to living your best life. Now you know the easiest ways to make money with blockchain technology, it’s time to explore the industry. Consider researching each option before selection and make a decent income with these effective strategies.
*The views expressed in this article are the views of a contributor at Business Insider Africa. It does not represent the views of norvanreports.
About the author
Olayinka Sodiq is a qualified writer with technical, analytical and copywriting experience gained from 5 years of both in-house and freelancing gigs. He is versed in finance, investments, technology, blockchain, mergers & acquisitions, bankruptcy, etc.
