The cryptoverse offers a wide variety of ways to earn an income. From mining and staking to yield farming and selling NFTs, there’s seemingly something for anyone tech-savvy enough to make crypto work for them.
But there are also non-crypto ways to make money in crypto. Read on to discover a list of just a few products and services you could provide to earn an income in the crypto industry without actually touching crypto.
Accounting & tax advice for crypto investors
Crypto traders and investors need tax advice. The fast-changing regulatory landscape also often means changes in how to tax your crypto returns.
If you are an accountant or have a background in finance, you can offer advisory services to crypto investors or blockchain enterprises. You can advise them on how to classify their returns from cryptoassets, either as capital gains or as business income, and how to navigate the taxation process. In return, they can pay for your services. (Even in fiat!)
According to a study, many crypto traders show behaviors that mirror other forms of addiction, such as alcohol and gambling. Crypto holds the promise of life-changing profits but equally a risk of serious loss.
Addiction is about these highs and lows, and this becomes more pronounced in bear markets, with many traders experiencing sleeplessness and severe anxiety.
If you are a licensed therapist you can advertise your services on crypto forums or social media. Set up in-person or online meetings and offer your counseling services. This can be individual or group therapy sessions. However, this only works if you have at least base knowledge of what’s going on in crypto.
Crypto companies are always looking to expand to new markets. Sooner or later they will need the services of a commercial lawyer to offer legal advice on how to structure their business in different jurisdictions. If you are a practicing lawyer with an understanding of the crypto space this could be something for you.
You can advise crypto enterprises on how to structure their products and services, following the legal frameworks governing their jurisdictions. This will go a long way in reducing any fraction between the firms, the government, and any other stakeholders. Moreover, don’t forget legal battles in the crypto space that might bring new clients too.
Second passports for crypto Investors
Crypto investors may opt for a second passport to another country for many reasons. These include protecting their wealth from unilateral government seizures, avoiding censorship, finding low tax jurisdictions, and more.
You could advise and assist “whales” …….