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.
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.
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!