The gig economy. We love to love it, we love to hate it, and we hate to love it. It’s an economy that provides jobs to those who can’t work otherwise, but it often underpays those who desperately need the work. The gig economy never could have existed in such a capacity without the Internet, and as the Internet becomes ever more accessible, the gig economy grows with it.
Just as the gig economy couldn’t exist without the Internet, the blockchain-based gig economy may never have developed without having an existing foundation to build upon. As seems to be the case with every industry, companies have begun to realize how blockchain technology can help improve the gig economy and all of its offshoots. In an ecosystem where people are working hard for small amounts of money, anything that can be done to decrease transactional fees and increase pay is a big win. There are many ways this revolutionary technology is changing the game, both for passive and active income streams, but is it enough to make a sustainable living off of?
Five professions that the blockchain has created
Can you imagine how exciting it must have been for the first person who got paid to do something over the Internet? It must have felt so futuristic, so advanced, so cutting edge. That feeling still exists in the modern gig economy, in a sense, when a new branch of income flows through a new community. With the introduction of blockchain technology into the gig ecosystem, new ways to make money have appeared that never existed before, once again providing that exciting feeling of “I’m getting paid to do this?!”
The profitability of cryptocurrency mining is less volatile than the prices themselves, but there are still many factors to consider before buying your first mining rig. The easiest way to calculate potential profits is to take:
(Your Hashrate / Network Hashrate) * (Block Reward * Block Time) * Coin Price) and then subtract your (Price per kWh * Rig kWh Consumption)
Or, for simplicity, use an online crypto calculator, such as Coinwarz.
Or, for simplicity, use an online crypto calculator, such as Coinwarz.
You have a few options when it comes to starting out your mining expeditions. You can mine with your own equipment, rent mining hashrates through a website, or use a decentralized mining company that relies on smart contracts. Overall mining profitability for the largest cryptocurrencies has gone down as their popularity has increased, but if you focus on mining the smaller alt coins you can, in theory, still make a decent amount of money.
Everyone can write online and try to make money doing so, but only certain websites will pay you in cryptocurrency. One of the major benefits of being paid in cryptocurrency is that it isn’t subject to your local currencies inflation rates, so if you live somewhere where the local currency can’t be trusted day to day, this is a great option.
Some of the biggest websites that pay in cryptocurrency are Steemit and Lbry, both of which have their own individual reward system for writers. The general system relies on popularity, so the more popular your piece becomes, the more money you will make. Of course, the content on these websites tends to lean a bit more on the technical side, so you’ll have to be knowledgeable about the popular topics if you want to make decent money writing here.
Become a Kicker
Sessia, a blockchain company designed to help businesses find and interact more authentically with customers, has a unique opportunity for individuals to make money. Sessia operates as a social network where users can earn money buying the things they’d be buying anyway, since after each purchase they will get a cashback from the business. To help this succeed, and to help grow their business model that is all about creating genuine business interactions, Sessia encourages interested businesses to join them by paying “Kickers” to help foster these connections.
A “Kicker” is a modern professional who earns cryptocurrency by connecting businesses to Sessia to help that business grow organically. Kickers receive cashbacks for referring businesses, and since everything is on a blockchain it is transparent and easily trackable. In order to become a kicker, an individual must complete a course at Kickvard University to ensure they know all the ins and outs of the business.
After completing their Kickvard University course (there are three to choose from: Express, Kicker, and Kicker Pro), Kickers can expect to make a 1% kickback on their referrals. If a business you’ve referred has an annual turnover of $100,000 through Sessia, you’ll have $1,000 coming your way just for referring them.
Similar to Amazon’s Mechanical Turk, there are blockchain-based microtask companies that gig seekers can make money on. They operate on the same principle as those that are off the blockchain, the difference being that the payouts can be higher since there are less middlemen. In addition, since all operations are based on the blockchain, it is easier to track coins and tokens through the system to ensure you are being paid fairly.
Microtasks don’t pay out high amounts, obviously, or else they wouldn’t be called microtasks. The idea behind such blockchain companies as Storm and Fragments is that you can complete the tiny tasks while doing other things: riding the train to work, watching TV, waiting for your food at a restaurant. These tasks are typically very simple to complete, so they don’t require a lot of focus.
Referral and Affiliate Links
Cryptocurrencies and blockchain companies have helped referral and affiliate links make a huge comeback in the modern gig economy. Nearly every ICO that launches has an affiliate program, and even if their token doesn’t end up being worth much, there is almost always a chance to exchange it for other cryptocurrencies. If you are serious about making money in the blockchain gig economy, it is easy to hustle and get involved with plenty of ICOs in their early stages. Be prepared to have to manage tons of different coins that you earn through air drops, social media reward posting, and the like.
Sessia, for example, offers the chance for you to earn 10% on direct referrals and 5% on second-party referrals after you make a minimum purchase of their cryptocurrency (KICKs).
In order to get involved with affiliate marketing and the referral markets you will have to create a decent social following on the various social media sites (be sure to obey their Terms of Service). There is a lot of money to be made by posting links and articles to Reddit, Steemit, Twitter, and the like.
Making Ends Meet
Today’s job market has certainly changed, and sometimes having one full-time job isn’t enough anymore. Whether you are overwhelmed with student debt, don’t have access to well-paying jobs, or if simply prefer to work online instead of at a physical location then the gig economy may be for you. There are many benefits to being a gig worker, especially if you live in a country where the currency isn’t as stable as you’d like. Blockchain-based gig workers may be the majority in the future, and taking a course at Kickvard University is an easy way to sharpen and polish your knowledge and skills related to this sector.
The main thing to remember is that diversification is key. The more you diversify your income, the more secure your personal gig ecosystem will be, and the less likely losing one job will put you in financial shambles. An opportunity like being a Kicker for Sessia is a nice choice since once you’ve referred a business you passively earn income, while at the same time you can focus on creating original content for Steemit. A mixture of many gigs is the best path, and once you find your sweet spot you’ll be on your way to becoming a blockchain gig professional.