The unique characteristics of blockchains solve various technological, business and financial problems.
Already, many Africans have been leveraging their idle funds for returns, earning passive income through new blockchain-based protocols. But some are still finding ways to make money with digital currencies.
If you are one of them, here are some proven ways for Africans to make money with blockchain technology. These recommendations are based on insightful analysis from trusted sources like Investopedia, CoinDesk, etc.
According to Investopedia, crypto mining is one of the most profitable ways to earn a decent income with blockchain without putting money on the line. Skilled Africans can earn money and get rewards in this industry for complete blocks. Mining involves verifying and validating bitcoin transactions to obtain tokens and other prizes.
These transactions keep the bitcoin network secure and reward miners with digital currencies. If you are proficient in cryptocurrency mining, you can earn digital currencies as passive income without wagering any money. The most exciting part of digital currency rewards is that the price appreciates whenever the price of bitcoins exceeds the cost of mining.
Many Africans do not mine cryptocurrencies due to the high-end equipment needed to set up a rig at the start. But this is no longer the case. Africans who have internet access can download mining apps to their smartphones or PCs.
So, you can earn a decent income using this blockchain strategy without leaving the African continent. With less electricity costs and start-up capital, you can earn digital currencies as rewards without any qualifications or educational background.
Join Cryptocurrency Companies
According to emerginged, collaborating or joining cryptocurrency companies is one of the easiest ways to make money with blockchain technology. As blockchain brings innovation to different economic sectors, skilled Africans can earn a decent income through this technology. Working with a cryptocurrency company is lucrative, and Africans can benefit from it without leaving the shores of the continent.
The idea is to partner with a cryptocurrency company because the sector welcomes all professionals. Most cryptocurrency companies employ remote workers with flexible working hours, which is ideal for Africans. So whether you are in Nigeria, Ghana, Cameroon, Tanzania, Zambia, Congo or South Africa, you can earn a decent income using blockchain without national barriers.
Figure out how to help cryptocurrency businesses with valuable skills and seek 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 fiat rewards, Africans also get digital currency rewards.
According to 99 Bitcoins, cryptocurrency faucets are lucrative and a quick way to make a decent living in the blockchain industry. While cryptocurrency faucets refer to websites that distribute digital currencies, you complete a small task in exchange for rewards. Although the rewards are noticeably low, cryptocurrency faucet owners earn passive income in the industry by placing advertisements on websites.
These websites are very attractive, and you can create a faucet in 10 minutes by signing up for a Bluehost account. Consider installing a WordPress faucet plugin to prevent third parties from stealing your information or rewards. Like water flowing 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, ads, or play games to get rewards. These games are fun and easier to play for digital currency rewards, making faucets ideal for skilled Africans.
Operate cryptocurrency masternodes
Coin Desk believes that operating cryptocurrency masternodes is a lucrative and passive way to earn a decent income with blockchain technology. While cryptocurrency masternodes have become mainstream, it is a complex, flexible, and rewarding business. A node refers to a device functioning 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 hub in cryptocurrency networks that plays a vital role in validating transactions. Masternodes are computer wallets that keep real-time records of all blockchain activity, making them a passive income idea for skilled Africans.
If you are proficient in masternode operations, you can earn a decent income in this industry. Most cryptocurrency platforms outsource and pay professionals for record keeping. You can make money with blockchain because this process is complex and requires multiple nodes for maintenance, and platforms outsource their services for a fee.
Earn by playing games
According to Go Banking Rates, earning by playing crypto games is a lucrative source of income for players in the blockchain industry. While playing crypto games has become popular, earning digital currencies with real value is a profitable opportunity for skilled Africans.
The industry is changing rapidly and is an attractive source of income for skilled Africans. If you are an intermediary or a master of online games, this strategy is an opportunity to make money from the blockchain.
The idea is to register on cryptocurrency platforms to play games like Axie Infinity, Alien Worlds, Decentraland, Zed Run, SandBox, etc. These blockchain-based projects are games to be won with rewarding opportunities for Africans. Besides, you can earn passive income by playing these games on different platforms.
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Here Are 5 Ways Africans Can Make Money With Blockchain
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