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How To Make Money With Crypto: Top 4 Ways In 2024

16 mins
Fact Checked
by Maria Petrova
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HODL is the rallying cry for many crypto enthusiasts. This neologism signifies the act of holding onto a cryptocurrency to make a profit rather than selling it, even in the face of market fluctuations. However, there are more ways to make money from crypto than just “HODLing.” Here are the four top ways that really work in 2024.

Our methodology for choosing the top-performing platforms

Top platforms for making money with cryptocurrency

Coinbase

Coinbase
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Payment methods Crypto, Wire Transfer, Debit Card
Fees 0.05-0.6%
Availability 100+

KuCoin

KuCoin
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Payment methods Crypto, Wire Transfer, Debit Card
Fees 0.1%
Availability Global

OKX

OKX
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Payment methods Crypto and Debit Card
Fees 0.08% (maker) | 0.1% (taker)
Availability Global ex. U.S.

How can you make money from crypto?

1. Crypto staking

Barrier to entry
Cost
Earning potential
Medium
Difficulty
Varies
Risk
Medium

Where to stake

Coinbase

Coinbase
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Payment methods Crypto, Wire Transfer, Debit Card
Fees 0.05-0.6%
Availability 100+

Kucoin

Kucoin
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Payment methods Crypto, Wire Transfer, Debit Card
Fees 0.1%
Availability Global

Wirex

Wirex
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Payment methods Crypto, Bank Transfer, Debit Card
Fees 2% ATM Charge
Availability 130+

2. Crypto trading

Barrier to entry
Education
Earning potential
High
Difficulty
High
Risk
High

Where to trade

Kucoin

Kucoin
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Payment methods Crypto, Wire Transfer, Debit Card
Fees 0.1%
Availability Global

Coinbase

Coinbase
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Payment methods Crypto, Wire Transfer, Debit Card
Fees 0.5-0.6%
Availability 100+

Margex

Margex
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Payment methods Crypto and Debit Card
Fees 0.019% (maker) | 0.06% (taker)
Availability Global ex. U.S. and sanctioned countries

3. Crypto lending

Barrier to entry
Competition
Earning potential
Medium
Difficulty
Low
Risk
High

Where to lend

YouHodler

YouHodler
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Payment methods Crypto, Bank Transfer, Apple Pay, and 2+
Fees 0.0178% on loans
Availability 100+

Wirex

Wirex
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Payment methods Crypto, Wire Transfer, Debit Card
Fees 0-10% APR on loans
Availability 130+

Bybit

Bybit
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Payment methods Crypto, Cash, Debit Card
Fees Pay up to 19.7% APR
Availability Global

4. Play-to-earn

Barrier to entry
Oversaturated market
Earning potential
Low
Difficulty
Low
Risk
Low

Honorable mentions

Crypto airdrops and forks

Barrier to entry
Oversaturated market
Earning potential
Medium
Difficulty
Low
Risk
Medium

Where to get airdrops

KuCoin

KuCoin
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Payment methods Crypto, Wire Transfer, Debit Card
Fees 0.1%
Availability Global

Bybit

Bybit
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Payment methods Crypto, Cash, Debit Card
Fees 0.1%
Availability Global

BYDFI

BYDFI
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Payment methods Crypto, Bank Transfer, Debit Card
Fees 0.1-0.3%
Availability Global

Crypto mining

Barrier to entry
Competition
Earning potential
Medium
Difficulty
High
Risk
Medium

Where to mine

YouHodler

YouHodler
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Payment methods Crypto, Bank Transfer, Apple Pay, and 2+
Assets BTC
Availability 100+

Binance

Binance
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Payment methods Crypto, Cash, Debit Card
Assets BTC, BCH, and 6+
Availability Global

Crypto investing

Barrier to entry
Education
Earning potential
High
Difficulty
Medium
Risk
High

Why might you need a portfolio tracker?

If you have been in crypto for a while or plan to be, you will more than likely have amassed a diverse portfolio across multiple DApps, blockchains, protocols, and exchanges. You will eventually need a crypto portfolio tracker.

These are particularly useful for bookkeeping, tracking profits and losses, entry and exit prices, and tax preparation. Much of the world has yet to catch up to the crypto world; therefore, it is painstakingly difficult to find the right portfolio tracker that suits your crypto native needs.

Delta Investment Tracker

Delta Investment Tracker
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Assets Stocks, Funds, Indices, Forex, Crypto
Exchanges 70+
Availability Global

The pros and cons of making money with cryptocurrency

AspectTraditional finance (TradFi)Cryptocurrency (crypto)
AccessibilityBarriers to entry due to laws and regulations. Often favors institutional investors.More accessible to the general public. Lower entry barriers, offering opportunities for individual investors.
Market maturityMature and well-established market. Tapped market with limited high-growth opportunities.Still emerging and developing. High-growth potential, though accompanied by higher risk.
Risk profileThe Cantillon effect, where proximity to money creation favors the wealthy. Institutional money often dominates.High risk and volatility. Subject to market manipulation and less regulatory protection.
Learning CurveRelatively familiar and understood by the public. Established systems and support for investors.High learning curve to navigate safely. Fragmented market with varying platforms and technologies.
Earning PotentialOften limited to traditional investment vehicles like stocks and bonds. Influenced by the Matthew Effect, where the rich tend to get richer.Innovative ways to earn (e.g., staking, yield farming). Potentially high rewards, but also high risk.
EqualityThe Cantillon effect where proximity to money creation favors the wealthy. Institutional money often dominates.Seen as a great equalizer. Designed to offer a more even playing field from the bottom up.
SecurityGenerally higher levels of security and investor protection. Established legal frameworks for recourse.Security risks, including wallet compromises and hacks. Limited or no legal recourse in many cases.

Can you really make money with crypto?

While we have documented many solid ways to make money with crypto, note that each method has its own drawbacks, risks, and barriers. Take Ethereum staking, for example.

As a smart contract platform, Ethereum requires nodes to store and compute extensive data, demanding more sophisticated and expensive hardware. This necessity fuels competition for block space and drives up transaction fees, leading to Miner Extractable Value (MEV). The intense competition for MEV has evolved into order flow auctions (OFA) and proposer builder separation (PBS), compelling block builders to integrate with searchers, relays, and block proposers.

Consequently, profitable Ethereum staking, beyond delegated or liquid staking derivatives (LSD), has become an arena of high competitiveness. One of the biggest staking mistakes Ethereum stakers made pre-merge was believed that staking would be cost-free and hands-off. So, while you can make money from crypto, it is important to note that if anyone could be profitable from doing it, everyone would do it.

Invest with caution

As stated previously, crypto is still somewhat of an untapped market. There are currently various ways to make money from crypto without dealing with the same hurdles that you may face in TradFi.

However, always remember that the greater the reward, the greater the risk. You should never spend more than you can comfortably afford to lose, and there is no such thing as a free lunch. Everything has a price, whether an operating cost or an opportunity cost. Be wary of crypto scams: if something sounds too good to be true, it probably is.

Frequently asked questions

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Ryan Glenn
Ryan Glenn is a journalist, writer, and author. Ryan is motivated to educate as many people as possible on the benefits of web3 and cryptocurrency. He has authored “The Best Book for Learning Cryptocurrency,” and runs an educational platform, web3school.us, dedicated to demystifying the crypto space. Ryan built the platform to transition tech-savvy and non-tech individuals into crypto and give everyone a baseline understanding of the different fields in the cryptosphere. Ryan is also an...
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