Potential Income Sources

Potential Income Sources
Reading Time: 3 minutes
 

How am I going to make this “magic internet money?!”. Good Question, and here are the areas I already have experience in and will post more details as we go along. Not all of these options are going to be for everyone, but I’m going to explore a number of them as best I can. As the technology evolves I expect that opportunities will also evolve and come and go.

Affiliate Marketing
Affiliate marketing is a very popular system in general. You can receive a commission for referring people to a product or service. There are already a wide range of opportunities out there and together we will explore more.

Advertising
There are some advertising platforms that solely work with bitcoin already. You can be an Advertiser or a Publisher and pay or receive income from using these services. You may have a site where you have advertising space you want to place ads, or you could be wanting to target crypto currency users and send out ads to bring people into your site.

Selling Products & Services
You can either have an existing e-commerce site or want to start a new one. If you want to add crypto currency to your payment options or you would like to start a store where you accept crypto currency only, then there are some great options out there. There are gateway providers with easy and advanced API options and plugins ready for Content Management Systems like WordPress.

We may also explore new platforms for selling that are using peer-2-peer and blockchain technology. There are some interesting projects that are in the early stages that will offer new markets and new opportunities.

Peer-2-Peer Lending
P2P Lending is becoming very popular in general. This is where you can lend currency to people around the world for their project and they endeavor to repay the loan with interest.

Mining
Crypto currency mining is where you become part of the network and have the opportunity to receive crypto currency in return for your computing power contribution. This has become a very specialized area, but it can be interesting and fun on a small scale.

Buying and Selling Crypto Currency, Trading
Crypto currency trading comes in a wide variety of options. This is another area that can be very technical, but we will cover some basics. We will look at exchanging our government issued currency for crypto currency and also exchanging crypto currency for crypto currency. There are in person methods and online methods that can go from straight forward to all the bells and whistles of modern trading platforms.

Games
There are games that are now paying bitcoin rewards for playing. This is an interesting concept for me even though it might not be a big income method. I think investigating this area will also be beneficial to anyone who wants to use a crypto currency in their games. There are specific crypto currencies coming out that are focusing on being in game currencies and the gaming world is serious business. So seeing how developers are using and implementing crypto currencies in games is an area we may cover in the future.

There is also the gambling scene which is a huge industry, but is also controversial. We will explore what is out there and the opportunities that are arising.

Other
There are crypto currency specific business models that are turning up. For Example, Faucets are an interesting concept. I think there is an opportunity there to be explored and improved upon so we will be covering what we know about them as a potential business model.

All Done!
What’s next?! If you have any other areas that you think could be covered, please share them with us in the comments.

Stock Photo: picography.co by Dave Meier

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