Making Money With Cryptocurrency Online: Is it A Good Niche?
I’m back with another niche in my series to see if it’s possible to make money online from it. Last time I talked about Flatscreen Computer Monitors and if it was possible to make a profitable online business from that niche. I had talked about things such as the problems people are having with flat screen computer monitors or questions they might have and where to find those questions and problems.
I also looked at where you can learn to build a profitable online business if flat screen computer monitors is a niche you want to go with or are passionate about. I also looked at the different affiliate programs available for it and what are some of the best-selling products in that niche.
Well today I want to talk about making money with Cryptocurrency online. Is it a good niche to get into and what problems are people having in it or what questions need answered? Let’s take a closer look.
Choosing a Niche
Now before I go on about cryptocurrencies and whether it’s possible to make money in this niche, I do need to make this statement. I am NOT in any way, shape, or form, giving you investment advice on which cryptocurrencies to invest in. This article is just for purposes of shedding some light on whether it is possible to make a profitable online business in this niche if it’s something you choose to do or are passionate about.
If you don’t know what cryptocurrencies are, let me shed some light about them. According to Wikipedia, cryptocurrencies are digital assets designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units and verify the transfer of assets.
In simpler terms, it’s basically a digital form of currency/money. The most famous or well-known cryptocurrency was Bitcoin which was created in 2009 in the wake of the financial crises that started in 2008. Cryptocurrencies and the technology they are based on called Blockchain, is still relatively in their infancy, but they are starting to get more well-known and generating lots of interest.
The market for cryptocurrencies is very volatile, hence the reason I am not giving any investment advice, but I do want to say that in the past, investments in some cryptocurrency especially with Bitcoin, has made other people very wealthy if the were able to take advantage of the massive price increases towards the end of last year. So now that we’ve chosen to focus the niche in the cryptocurrency world how do we find out what people are searching for in the crypto world?
What Problems Need Solving in This Niche?
There are definitely ways to find out what people are searching for in the cryptocurrency niche and I’ve mentioned some of the ways to do that in some of my past articles in this series. You can use the alphabet soup technique on Google as one way, or you can go to answerthepublic.com and see what questions people are asking in any given niche.
Upon typing cryptocurrencies at that site, over 199 questions quickly come up. Why are cryptocurrencies so volatile? How do they have value? What cryptocurrencies are available on the exchange Coinbase? How are cryptocurrencies mined? Where can you store cryptocurrencies to keep safe from hacking? The list of questions goes on, but this should give you a good idea what people online are wanting answers to.
If you can provide those answers and give them reviews of products that will help them solve those answers or problems, your well on your way to a profitable online business in this particular niche.
Quora is another place I’ve recently talked about as there are always questions being asked there that people need answers to. If you can answer those questions and provide relevant information, that will be another great source of traffic that you can utilize.
How To Tell If It Will Be Profitable
Believe it or not, there are some good products that people are looking for when it comes to cryptocurrencies. There’s what’s called Offline Ledger Wallets where you can store you’re cryptocurrencies for safe keeping and offline so that hackers cannot get access to them.
If you’re into mining cryptocurrencies, you need a very hefty duty PC as well as a top of the line graphics card in order to start doing that and trust me, they can be quite expensive, but it is possible to make some money with that. There is some mining equipment that you can add to your PC. A quick search on Google for crypto mining hardware yields some great results with that.
Amazon has what’s called a Halong Mining T1 DragonMint 16TH ASIC Bitcoin Miner which runs pretty much for $800. If you were part of Amazon’s Associate’s Program and someone purchased that Bitcoin Miner through your link, you’d most likely earn anywhere from $40 to $50 for that. It may not seem like a lot, but if you have enough people clicking your link and buying that equipment, that can add up quick.
Mining hardware for Cryptocurrency
There are some mining hardware that run well into the thousands of dollars so you can definitely a couple of hundred or more from that depending on which Affiliate Program you sign up for. Amazon’s program generally averages a 4% commission so that’s why it might be good to search around for other affiliate programs that might offer a bigger commission rate.
A place that offers a nice Affiliate Program online is Ledger.com. This site offers offline crypto wallets that will keep your cryptocurrency safe and secure from hackers as I mentioned earlier. Unlike Amazon, they have a 10% commission rate and will actually pay that in Bitcoin to you should someone purchase one of their products through your link. Research is the key in order to find an affiliate program that will work for you.
What You Need To Do To Start Earning Money
Well we’ve got our niche chosen, found what problems and questions are associated with it, what products can be promoted, and some affiliate programs that are out there for this particular niche.
What’s next is that you need to get a domain name registered for your site at a domain site such as godaddy.com. Next you’ll need a website editor where you can start creating content for the crypto niche. Now domain names generally don’t cost that much, usually $12 to $15 a year, which is as you can see, much better than the cost of a brick and mortar business where you’d more than likely have to pay hundreds or thousands per year to rent a building.
After all that is in order, the next thing you need to do is to get traffic to your site so that you can eventually start earning revenue. That’s the meat and potatoes of how you’re going to earn revenue from your website. You need people to stop by and be interested in what you’re offering. Targeted traffic is definitely what you want to focus on so you’ll have more likelihood of people purchasing products that you’ll recommend and that they will benefit from. This is how you’ll soon become an authority in your niche and website.
So now the question is, how do learn to do all of these things, but more specifically, how do you get traffic to your website so that you can start earning some revenue? That’s I’ll talk about next.
Wealthy Affiliate
I know I’ve usually ended with my other articles talking about Wealthy Affiliate and how it’s the perfect place online to get your niche website up and running. There’s a reason I talk about it so much and it’s because it’s in my opinion the best place online to learn how to build a lucrative online business in Affiliate Marketing which is basically everything I’ve described above.
I’m not saying that there aren’t other good places online where you can learn how to do Affiliate Marketing, but what Wealthy Affiliate offers is I believe hands down the most value you’ll get if choose to do this endeavor. You can get a domain name registered and hosted all in one place now at Wealthy Affiliate which is something they started offering about a year or two ago.
What’s also nice about that is you get features with that for FREE which would cost you extra at other domain and hosting sites. You’ll get an extra layer of added security known as SSL. You’ll be able to get maximum site speed to ensure your traffic is able to access your website quickly and you get spam blocker to keep unwanted comments away from your site.
Wealthy Affiliate has excellent training courses and live weekly video classes that always ensure you have the most up to date training to get your online business up and running and going smoothly as long as you take consistent action on your site.
One of the biggest things there at WA is they teach you exactly how to start getting traffic to your website that will eventually lead to making money. Keywords is the key (no pun intended) to get the kind of traffic needed to a website and the training is just superb on how to find the best keywords for your site that will get it ranked and ultimately on the first page of Google and other search engines which is what you want.
Now here’s what Weatlthy Affiliate doesn’t do. It does NOT make promises of earning thousands of dollars with very little effort and in a matter of days or weeks. It does not promise that you’ll get rich. Wealthy Affiliate does not push upsell after upsell on you like other MMO (make money online) programs do.
They will tell you that it will definitely take time to make your business profitable as you are ultimately trying to provide value to the people that comes to your website. People want to see that what you’re offering will help them or make their lives better than before and if you can solve a particular problem that people are having in any specific niche, you’re going be well on your way to a lucrative online business.
I know that a lot of questions, especially for new people when they join WA is when are they going to start earning money? That all depends entirely on them (and you) as you’ll need to go through the training, understand it, and put into action what is taught and most importantly, STAY CONSISTENT! I have to emphasize that a lot, because there are people that get disappointed when they don’t make money by a certain time that they set for themselves and then they’ll say that WA doesn’t work or is a scam. Everything takes WORK and TIME! I’m sure you’ve heard the phrase: “Rome wasn’t built in a day”. It’s going to take time for you to build up your business.
The more you work on it though the more the likelihood of you earning revenue sooner rather than later. The average it takes for someone at Wealthy Affiliate to start earning anything is 3-6 months. Sometimes it’s longer, in some rare cases it’s less, but that’s generally the average and by no means a guarantee. As I said before, it all comes down to how often you work on your website and you put into action what you learn. DO NOT try to take shortcuts either! Many people try do that and end up with things not working properly, kicked out of Affiliate Programs for not following their guidelines (Amazon is notorious for this!) and websites not ranking very high.
I’m not trying to discourage anyone, but I want to give you realistic expectations about Wealthy Affiliate so that you don’t go into it with false expectations. Trust me, there are MANY people there who are very successful and are making thousands of dollars monthly. They will all tell you the same thing in that it took time, it took lots of effort, but more importantly, they followed the training to a tee and put in consistent work as mush as they possibly could. They will also tell you that they had stumbling blocks along the way, but they got the help when they needed it, didn’t let those stumbling blocks hold them back, and continued to move forward.
With all that being said, you’ll definitely want to check out my full review of Wealthy Affiliate if you still want to some more information before joining. It is always free to join and you’ll have 7 full days to see everything Wealthy Affiliate has to offer. They will NEVER ask for a credit card to start the trial so you can remain a free member for as long as you like after the initial 7-day trial period is over. As a free member, you’ll always have access to the first 10 lessons in the training and you’ll also have 2 free websites!
There is a Black Friday Special happening that goes through the 26th of November so if you sign up for WA and like what they offer and would like to become a premium member, definitely check out their special on the yearly option. Now that you know making money with cryptocurrency online is possible, read my review of Wealthy Affiliate so that you can make it happen in the crypto world!
November 22, 2018 @ 2:34 pm
You are right about Wealthy Affiliate. They are the perfect place to get a blog going with all the instructions, help and support you could possibly need. I had never thought about doing a niche for cryptocurrency, but it is probably a good one. I guess I need to get myself more familiar with it. I would just love to buy and trade with it and make some money. Is that also possible?
November 23, 2018 @ 6:37 am
It is possible, but you need to find a good cryptocurrency exchange in order to do that. Now I will warn you that cryptocurrencies are very volatile and have had definite price swings so my advice is do not invest more than you’re willing to lose. I’d do this for the long term and not the short term.
November 22, 2018 @ 2:52 pm
I’ve needed Ariundcwuth cryptocurrency in the past but don’t really understand it and so I leave it alone as I fear I could end up losing fair bit of money! What I do know though is the affiliate side of things and I totally agree with promoting the mining machine. If you do it right you could make a decent amount of money.
I have used Wealthy Affiliate and wow what this platform can do for your business is unreal! WA took my business growth to another level so I fully endorse this product.
November 23, 2018 @ 6:38 am
Wealthy Affiliate is definitely amazing and I love that it teaches you to build a money making website in whatever niche you truly desire. Glad to here your business has been going well for you because of Wealthy Affiliate.
November 22, 2018 @ 2:53 pm
Yeah there are endless amounts of products related to cryptocurrencies these days – take it from someone who has been long term trading on the stock market for several years.
I did actually trade in these cryptocurrencies for a few months, but found them a little too volatile for my trading methods, and haven’t traded them since.
But they are popular among traders – and a lot of people have made a lot of money out of them. Definitely a good niche to break into as an affiliate marketer.
November 23, 2018 @ 6:40 am
Yeah, cryptocurrencies are definitely volatile and they are currently in a bear market, but I do believe in the long term value of some of them which is why I continue to hold what I have and slowly invest in some more.
November 22, 2018 @ 2:55 pm
Brian, these are some great suggestions and things to think on if you are looking at cryptocurrency as a niche. I even searched and, found, in your article, all the questions that arose for my friends and I as we were thinking and STILL are thinking about joining forces to mine and store our own crypto.
Wouldn’t it be cool if there was someone who took this niche and gave an education about it in the same manner that Wealthy Affiliate teaches the front to back of online marketing? The community support would be great for people like me that have read about cryptocurrency for 3+ years now and, still, feel like I’ve barely scratched the surface!
November 23, 2018 @ 6:42 am
There’s still so many people in the world who don’t know what cryptocurrency is or don’t fully understand it and so if someone where to build a website centered around educating those people much like Wealthy Affiliate does with affiliate marketing, then yes you are right the community support would be great for that.
November 22, 2018 @ 2:57 pm
Hello this is a beautiful piece. There is a good deal of money that can be made with cryptocurrency as a niche online. These days, almost every niche is profitable. Just as you have said in this article, I think the main stuff is finding the problems related to the niche and create a solution, find the questions asked regarding the niche and provide quality answers.
Yeah sure. Wealthy Affiliate is the best place to get started with any Online business. Everything with WA is top notch.
November 29, 2018 @ 7:51 am
You are definitely right, that there can be good money made in the cryptocurrency niche as long as you remember to help people with whatever problems or questions they have in the niche. One thing to remember in regards to cryptocurrency is that it is still in its relative infancy and so there is still a lot of growth to come.
November 22, 2018 @ 3:00 pm
Interesting post , I have always wondered about building niche websites . Would you say the training at Wealthy Affiliate is easy to follow . I am fairly new to this online thing and would like to take some training but am unsure where should get it, I will check out your review on weathy affiliate .
November 24, 2018 @ 10:48 pm
It is easy to follow. They usually have great videos that show how to implement whatever the topic of the training at hand is. At the end of each lesson are tasks setup for you to do and you can always go back over the training anytime you want to make sure you fully understand it. Definitely check out my review and give it a try.
November 22, 2018 @ 3:00 pm
If I was looking for a new niche you would have very interesting information here. I don’t know If I’d choose the cryptocurrency niche because I don’t know enough about it but anyway, your tips and steps are the same for every niche I think.
I have checked the price of crypto lately some times and at the moment they don’t look too good. The investment if one wants to invest in cryptocurrency is also pretty high as you say.
The Investment niche in general is a good niche I heard is that right?
November 29, 2018 @ 8:02 am
Yeah, the cryptocurrency niche is still in its relative infancy and there’s a lot to learn about it. If you can understand a good chunk of it though and it’s something you’re very interested in or passionate about, it can still be a lucrative niche for you. Investment in general can be a good niche too, because people want a want to earn some passive income and investments are a good way to do that.
November 22, 2018 @ 3:05 pm
Very good post about how to make money online. I initially thought is was going to be about investing in Cryptocurrency. This may be a good time coming up for that as revaluing of currencies has caused a drop in Cryptocurrency so its cheaper now.
I think you explained perfectly about finding the questions and issues people have and solving the problem. Wealthy Affiliate is defiantly an excellent means to assist.
I look forward to reading your other posts
Jim (wolf)
November 29, 2018 @ 8:04 am
Well I’m not an advisor so I don’t want to say which cryptocurrencies are good ones to invest in. However, there are some good cryptocurrency exchanges to look into if that’s the route you want to go and you can earn some money for recommending certain exchanges and some will even pay you in cryptocurrency.
November 22, 2018 @ 3:13 pm
Is cryptocurrency a good niche to make more online? Is such a debatable topic on the internet. Personally speaking I don’t know much about this field however, some people believe that it could possibly be the next way of transferring money around the world or making money.
Deep down in me, I feel that if the owners of cryptocurrency can solve some of the problems about this niche then it will be a fantastic and easy way for a lot of people to build a global empire on the internet. Since it’s another one of my goals in the future, I wanted to know if there is a course that teach this? I will appreciate it if you could show me one. Thanks in advance for the answer.
November 29, 2018 @ 8:08 am
You are definitely right about some of the owners or producers of crypto being able to solve problems out there. I would certainly keep a very close eye on Ripple/XRP as that is one of the best crypto teams out there that have some of the most ambitious plans out there to solve real world problems mainly in the financial sector such as having banks and other financial institutions able to send money anywhere in the world in a second or less and hardly have to deal with any fees for it. They already have 2 major products out to make this a reality and more and more institutions around the world are jumping on board. It’s definitely a company to watch in the next few years.
November 22, 2018 @ 3:13 pm
Thanks a lot for the helpful and informative post.
I am a full-time blogger and I do remember the struggle I gone through while selecting my Niche. I nearly taken one month to choose my niche. So niche selection is a very important process and you have provide and discussed a very good niche with high demand and searches.
Nowadays online is full of Crytpocurreny mining, trading, buying etc., 1000’s of ads related to cryptocurrency. The growth of Bitcoin is mind-blowing. So people are very much interested on Crytptocurrency and searching for more information. Recently my friend bought a Ledger Wallet and he made the purchase online only, after reading some posts.
I got great insights from your post and there is no doubt Cryptocurrency is indeed an awesome niche.
Wishing you great success!
Paul
November 29, 2018 @ 8:09 am
I recently bought a ledger wallet myself and that is definitely a product you can promote if one where to go into the cryptocurrency niche. You could even promote certain cryptocurrency exchanges and get paid in crypto from some of them.
November 22, 2018 @ 3:19 pm
Thanks for the informative post about making money with cryptocurrency online! Before I stumbled across this site, if I was asked what cryptocurrencies are, I wouldn’t be able to answer at all for I knew nothing about digital currencies. Kudos for stating the definition clearly!
Thanks for enumerating what’s needed to make money from the cryptocurrency niche! As you explained in your post, Wealthy Affiliate would be the final bus-stop for any potential online entrepreneur to get a website up and running. The comment boost incentive within the Site Comment 2.0 platform is, of course, a powerful strategy for improving a page rank in Google.
You’re right about getting those features and site protocols for free on the WA platform which include Site SSL, Site protection, Site privacy, WHOIS, Site speed, Site email and all of that. Thanks for this post!
Israel Olatunji
November 29, 2018 @ 8:11 am
Cryptocurrencies can still be a tough concept for people to understand. Its such a new asset class that people just don’t understand exactly the potential of it, but in the next few years, I think that will certainly change.