How to make money from 'crypto' apart from buying and selling?
IS Investment economist Manukyan stated in his article on the World that there are three methods to earn from cryptocurrencies.
Accordingly, the first one is the trades that we have seen become very popular in the last few days.
Recently, record levels have been seen in the entry of crypto money funds worldwide. The repercussions of this on Turkey were also quite strong.
According to Manukyan, the second method is to make money as an entrepreneur or employee in the crypto industry. The last method is to try to increase our assets through passive investments.
It's hard to earn by trading
Noting that it is not easy to make money with the trading method, the economist stated that people who say they make a lot of money on crypto on social media should not be trusted.
Highlighting the second method as a source of income, Manukyan added, "Cryptocurrencies will appeal to the new generation especially in terms of their use, and will also offer significant opportunities for these generations in terms of business opportunities. "
Entrepreneur platforms
Pointing to crypto trading platforms in this regard, the economist stated that these entrepreneurs started to set the standards of the industry by seeing the potential of crypto money in the world and in Turkey.
However, the business did not stop at this point,” said Manukyan, adding that second-generation entrepreneurs developed decentralized finance platforms by making the subject more in line with the spirit of crypto money.
Citing these 'decentralized financial institutions' operating in different fields such as Compound, Uniswap, Aave, Maker, and Harvest Finance as an example, Manukyan briefly explained the business opportunities in this field as follows:
- Trouble-free operation of these platforms, creation of smart contracts, protection against hacks became special areas of expertise.
- Supervision of these formations, emerging new legal issues and compliance with regulations are also at the point where sectoral knowledge is required.
- It is now possible to analyze, evaluate and report the fundamentals of cryptocurrencies. Licensed experts will begin to publish these analyzes in the form of reports under the umbrella of intermediary institutions.
Earning opportunity at NFT
Manukyan, the recent high numbers attracts attention with digital artwork sold from NFTs of (being non-digital counterparts) was also explained that the creation of jobs: "In this regard trading, in addition to the platform that services such as auctions lead in valuations as in the classical art market There will be experts and the like.”
Stating that NFTs do not only open new opportunities for the art works or collection market, the economist noted that this is a new dynamic in terms of the advertising market as well.
Manukyan gave the following examples: “An expert can convert a certain time of the day or a certain amount of working hours for a project into NFT and price it according to the demand that will occur on a platform. A popular Youtuber can sell the opportunity to advertise as NFT between the 3rd and 4th minutes of a video he shot.”