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How to Build a $60K Per Year DeFi Side Hustle

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How to build a $60k per year DeFi side hustle
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You think you have missed a golden opportunity to make a living from previous innovations such as the internet and Bitcoin. 

Although this can be disappointing, the good news is that innovation never ends. New technologies will always come up, and new opportunities to make a new career.

One new technology that presents career and earning opportunities is DeFi (Decentralized Finance) in crypto. This article will give you practical ways to make money in Decentralized Finance without investing money. 

Let’s dive in. 

But before I dive in, you must note that the strategies discussed here do not promise overnight wealth. It requires work and consistency to see results. 

What is DeFi and How Can You Make Money from It? 

Decentralized Finance, popularly known as DeFi, is a revolutionary financial ecosystem built on blockchain technology. 

Unlike traditional centralized financial systems, DeFi operates on decentralized networks, primarily utilizing smart contracts on platforms like Ethereum, Solana, Avalanche, etc. It aims to provide an open and permissionless environment for various financial services, eliminating the need for intermediaries like banks.

In the DeFi space, users can access various financial products and services, including lending, borrowing, trading, yield farming, staking, and more. 

These services are powered by smart contracts, which are self-executing agreements with predefined rules and conditions, ensuring transparency and security.

Decentralized Finance offers numerous benefits, including 24/7 accessibility, global reach, lower fees, and greater financial inclusion. 

However, it also comes with risks, including smart contract vulnerabilities, market fluctuations, impermanent loss, hacking and security, exit scams and Ponzi schemes, low liquidity risk, etc. 

As a participant in Decentralized Finance, you can make money from your skills or by upskilling yourself. You can learn and offer the following skills in the Decentralized Finance niche. 

  • writing
  • research
  • graphics design
  • marketing
  • software development.

1. Writing

How to become a DeFi content writer

You can write more than $3,000 monthly for DeFi Protocols as a writer. You can do this as a technical writer, a content writer, a ghostwriter, a blogger, or even starting a DeFi or Web3 content writing Agency. 

The problem with DeFi protocols is that these developers that build DeFi protocols only know how to write a coding language. 

They hardly do not know how to teach people how to use their Decentralized Finance protocols or market their products. 

And this is where a Technical writer comes in. 

DeFi firms can hire you as a technical writer to simplify technical words that sound complicated to their target audience. 

According to Glassdoor, the average salary for Technical writers is approximately $75k/yr. That’s about $6250/month.

You can adopt the Agency model. Start a technical content writing Agency and pitch your services to DeFi founders. 

How to Become a DeFi Writer

  • Learn about DeFi. 101 Blockchain and Youtube are good places to start.
  • Develop your technical writing skills. Google Technical Writing Course and GitLab’s Technical Writing Fundamentals course can provide a smooth take-off ground.
  • Create a Blog on Dev.to, hashcode, medium, or similar platforms, and write on topics addressing the problems of a protocol and how to solve the problem.
  • Share your writings with your audience on social media.
  • Make sure your writings are concrete, and your facts are correct.
  • Network with people in the DeFi space. Many of your gigs will come from referrals and word of mouth.
  • Contact prospective clients and let them know about your skills and Services.

2. DeFi Research: What Do DeFi Researchers Do?

How to make money as a DeFi researcher

Analyzing DeFi Protocols: DeFi researchers study how the various projects work, including their strengths and limitations.

Researching DeFi trends: Decentralized Finance researchers study activities in the Decentralized Finance space to make future projections.

Writing Research papers: The researchers write down their studies’ outcomes and share them with the general public.

Consulting: Decentralized Finance projects consult researchers to understand important industry trends.

DeFi protocols then use the findings of these researchers to understand problems and risks associated with their protocols, discover opportunities, create strategies and roadmap and improve their protocol. 

Hence the protocols are willing to pay for these researchers or, in essence, the outcome of such research. And this is how you make your money.

Dashboard of DeFi aggregator - DeFiLlama
Dashboard of DeFi aggregator – DeFiLlama

DeFi Researchers study on-chain tools like Defilama and blockchain explorer.

How to Become a DeFi Researcher

  • Read and understand everything about the DeFi space
  • Find a DeFi protocol, research it and Compile your research. This would serve as proof of work
  • Reach out to the DeFi protocol to give them this report. 
  • Pitch your services to DeFi projects(it’s a game of numbers. The more you pitch, the more chances you get) 

3. Graphics Design

Design graphics for DeFi protocols

Like writers, Graphics Designers can make money from DeFi.

Instead of just adding the “Graphics Designer” tagline to your profile on social media, make your profile a portfolio of your designs. This is how Decentralized Finance projects and founders will find you.

How Do You Make Money from DeFi as a Graphics Designer?

The two most popular ways to make money as a graphics designer in DeFi is 

  1. Through freelancing. 
  2. Joining a DeFi team as a Graphics Designer.

DeFi projects always need high-quality website graphics to promote their works and content across social media platforms.

If you are good at your work and have considerable knowledge of DeFi or can learn it, then get into Decentralized Finance design and get paid for your designs.

How to Become a DeFi Graphics Designer

  • Build up a portfolio of your works.
  • Always share your designs with your audience on social media.
  • Visit websites and social media handles of DeFi projects and watch out for poorly designed graphics.
  • Get a better redesign and send it to them.
  • Get a review from them.
  • Write about your experience and share the review on your Social Media accounts.
  • Share the details of your design on social media. Why and how did you choose a particular design for a particular project? 
  • Share your work regularly on social media. 
  • Reach out to more DeFi projects and pitch your services to them.
  • Land clients and get paid for your designs.

4. Marketing

Become a web3 marketer

Web3 is an industry of evergreen opportunities. Many folks are making over $10k per month as Web3 marketers. The only thing stopping you from making such figures is this information and the will to take action.

It is simple to take action today. Remember, I said it is simple; I didn’t say it is easy because it involves a lot of hard work. It is simple in the sense that there are lots of testing methods that can give you results. A good example is building a personal brand and a unique DeFi marketing voice on Twitter and LinkedIn.

How to Become a DeFi Marketer

  • Understand the Web3 space in general.
  • Read this marketing strategy to grow crypto projects. You can find free courses on Coursera and Udemy. 
  • Read The Laws of Human Nature by Robert Greene to understand how human psychology works. And read The Psychology of Selling by Brian Tracy
  • Start as a Freelance Marketer on Twitter and freelance platforms like Upwork and Fiverr. 
  • Build publicly. This serves as your portfolio. 
  • Scale into a Web3 marketing Agency and deliver services to DeFi projects.
  • As you are building on social media. Build your audience via email lists. Your email list is the audience that you truly own. Twitter can block your account at will, and you will lose your audience on the App. But you can always take your email list with you even if you change service providers.
  • Sell your services through newsletters to your email subscribers.
  • Land clients and make money.

5. Software Development

Earn through decentralized finance development software

This is the most technical of the skills discussed here. It will take you longer to learn, but it will also pay you higher than the other skills on average. 

Blockchain Developers and Smart Contract Developers are responsible for building the blockchain on which DeFi protocols run and the smart contracts that run those protocols.

You can join DeFi teams as a developer or build out platforms on contract for project owners.

How to Become a DeFi Developer

  • To become a blockchain developer, you should first learn the basics of programming. If you delve straight into blockchain development, you will find the space too complicated to understand. 
  • Start from the basics. Freecodecamp is an excellent place to start.
  • Learn the principles of blockchain and how blockchain functions. The blockchain council is an excellent place to start.
  • Build Projects: The best way to learn is to build projects. Do not get trapped in learning only tutorials. Learn and implement. The most important thing is taking imperfect action. Don’t wait until you perfect the skills before you start building projects. 
  • Build in Public: As you build, push your works to GitHub and share your projects and achievements on social media. This will increase the visibility of your work.
  • Stay consistent and apply for jobs.
  • Get paid for your work.

Conclusion

You can always make money from your skills if you keep developing and upskilling yourself. Decentralized Finance presents exciting opportunities to earn from your digital skills, and you can grab the opportunity today. However, while you proceed with your career in decentralized finance, avoid the shiny object syndrome. This situation is where you always get drawn to the next big buzz. You must avoid it because it is the easiest way to become a master of nothing.

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Crypto Writer | Content Strategist NFT | Web 3.0 | DeFi 2.0

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