The second edition of the WeAreDevelopers Live Week is already starting on 5-9th October with a whole day packed with Blockchain and cryptocurrency insights for developers.
Today, the bitcoin market capitalization sits at about $118 billion which is an indication of how much the cryptocurrency industry has grown. Hence, for software developers, there is no better time to get a foothold on the bitcoin market than now.
Thanks to its meteoric rise to fame, BTC has churned out thousands of millionaires worldwide. There currently are over 18,000 accounts with $1million or more BTC in the world and thousands of others sold their assets and ventured into other businesses.
It is, however, unfortunate that very few software developers belong to the list of cryptocurrency millionaires. This begs the question. How are the brains behind the world's fastest-growing technology not making money from their efforts? What does it take to gain a foothold in the crypto world as a software developer?
Cryptocurrency for software developers
If anyone deserves to make the most out of cryptocurrencies, it is the software developers. Nobody understands the dynamics of blockchain technology better than software developers. What sounds like jargon to non-tech savvy people is right up the alley of most software developers.
Due to the lack of knowledge on how to monetize cryptocurrency, many brilliant and talented software developers are languishing in abject poverty. They end up working for people with little or no software development knowledge and making them millionaires.
How can you, as a software developer, change this? How can you increase your foothold in the crypto world and become a thought leader?
How to make money from cryptocurrencies as a software developer
Gain a foothold in the crypto world
The first step towards making money from cryptocurrencies is gaining a foothold in the cryptocurrency world. Gaining a foothold means finding a niche where you are comfortable and working towards becoming an expert in that field.
Here are some of the ways through which you can get a better foothold in the world of cryptocurrencies:
- Educate yourself – The first step towards becoming an expert in any field is to read widely on that subject. Learn what is blockchain technology and try to understand its fundamentals. There are very many free online resources you can take advantage of to educate yourself on cryptocurrencies.
- Specialize in an area – Cryptocurrencies have very many areas of specialization. From crypto content creation, crypto trading, crypto mining, crypto consultancy to crypto software development, the choices are various. Choose one or two areas that interest you and work towards becoming an expert in the fields.
- Increase your online presence – To market yourself better and stay in the know, you have to work towards increasing your online presence. Take advantage of social media to achieve this. Follow and engage with top crypto thought-leaders on various social media platforms. Over time, you will gain enough followers and capture the attention of your target audience.
Brand and market yourself
A lot of software developers often struggle with marketing themselves. A lot of developers are conservative and prefer to stay behind the scenes. This is counter-productive as marketing is an essential tool of any business.
Promote your crypto-related business on social media, search engines, and create mailing lists to promote yourself. Proper branding can help your business network grow exponentially.
Monetize your services
It is one thing to become a thought leader in a field and quite the other is to profit from it. Therefore, we have gathered some tips to help software developers get more value from their knowledge.
- Design Cryptocurrency Software Solutions – There are very many companies looking for websites, mobile applications, and other cryptocurrency software solutions. From trading platforms, exchange platforms to small businesses looking to get into crypto, there are customers all over the world.
- Invest in Cryptocurrency Mining – Cryptocurrency mining is quickly losing its appeal to most people and there is no better time to invest in the venture than now. If one gets it right, cryptocurrency mining is still very profitable. Software developers have a chance to make money from crypto mining while many people are running away from it.
- Invest in Cryptocurrency Trading – Cryptocurrency trading is the new cash cow in town. A lot of people are making money off cryptocurrency exchanges and software developers have the chance too. With enough research, practice, and some luck, you can walk away with a lot of money.
- Offer Cryptocurrency Consultancy Services – A lot of companies are looking to get into the world of cryptocurrencies and are looking for experts' opinions. As an emerging industry, the cryptocurrency industry doesn't have enough consultants in the world, and software developers can take that opportunity to get a foothold in the crypto world.
- Produce Cryptocurrency Content – As a software developer, you can produce cryptocurrency content and monetize it. From blog posts, short videos, podcasts to newsletters, there are very many avenues to use to produce content and put it out into the world. Learn how to best monetize your content without getting on the nerves of your consumers and you will make a killing off cryptocurrencies.
Expand your business with time
If the maiden business is running fine, think about expanding your business. That's how the big companies of the world created their empires. Provide a solution to the world and the world will pay you back.
Just be cautious about venturing into new areas. You could lose it all in the blink of an eye if you are not careful.
It is not too late to get started in the world of cryptocurrencies as a software developer yet. Take advantage of the tips to increase your foothold in the crypto world and earn a living from your cryptocurrency expertise. What's holding you back?
Take the first step an learn more about Bitcoin during our WeAreDevelopers Live Week – check out the program and register now!
About the author: As an expert on Bitcoin-related topics, Mary has found herself as a Journalist at CEX.IO – cryptocurrency exchange. She is working on articles related to blockchain security, bitcoin purchase guides or bitcoin regulations in different countries. More, you can check on her Linkedin page.