Every day I get messages from people who heard that someone “in crypto” made a nice sum of money, but they don’t even know where to click to buy their first cryptocurrency.
In this article, forget about complicated charts, economic jargon, and empty definitions. I’ll get straight to the point: I’ll show you concrete, proven ways you can start earning money with cryptocurrencies, even as a complete beginner.
If you want me to walk you through the whole process personally, step by step, you can download my free crypto e-book, where I wrote down everything I learned along my journey.
What Cryptocurrencies Actually Are (Briefly, Without the Unnecessary Theory)
A cryptocurrency is digital money that doesn’t exist in the form of banknotes, but only as a record in a computer system called a blockchain (a chain of data blocks). Think of the blockchain as a large public ledger in which every transaction is recorded and that nobody can secretly alter or erase. That’s why cryptocurrencies are secure, transparent, and independent of banks.
That’s all you need to know about the theory for now. Let’s move on to what you’re here for – how to turn this into income.
Before You Start: 3 Things You Need
Before you tackle any money-making method, you need three basic things.
1. An exchange – a website where you buy and sell cryptocurrencies for euros. For beginners in Slovenia, I recommend established exchanges such as OKX or Bybit, because they are proven, secure, and have a user-friendly interface.
2. A wallet – this is where you store your cryptocurrencies when you’re not trading them. A wallet can be part of an exchange (simpler for beginners) or a separate app.
3. A starting amount – you don’t need a thousand euros. Most exchanges let you start with as little as 10 to 20 euros. At the beginning, the goal isn’t profit, but learning how the platform works.
Once you have that sorted out, you’re ready for the concrete methods. If you want me to guide you personally through opening an account and the first steps, all of this is also explained in my free crypto e-book.
7 Proven Ways to Earn with Cryptocurrencies
1. Long-Term Investing (HODL)
HODL is a term that originated from a typo of the word “hold” and today means a strategy in which you buy a cryptocurrency and simply hold it for a long time, regardless of price fluctuations. It’s the simplest method for beginners, since it doesn’t require any daily market monitoring.
How to start: you buy an established cryptocurrency (for example Bitcoin or Ethereum), move it to your wallet, and leave it alone. History shows that those who were patient and didn’t sell at every price drop gained the most in the long run.
2. Regular Monthly Investing (DCA Strategy)
DCA stands for Dollar Cost Averaging, a strategy of averaging out your costs. Instead of trying to guess the “perfect moment” to buy, you simply set up an automatic monthly purchase of a certain amount – say 20 or 50 euros a month – regardless of whether the price is high or low.
This strategy is great for complete beginners because it removes emotion from decision-making. You can’t make a mistake out of panic or euphoria if the system buys automatically. You set it up once, then simply forget about it and check back in a few months.
3. Staking – Effortless Passive Income
Staking is one of the favorite methods for complete beginners because, after the initial setup, it requires practically no effort. The idea is that certain cryptocurrencies (for example Ethereum, Solana…) need their owners to “stake,” or lock up, a portion of their coins in order to keep their network running securely. In return, you receive a reward in the form of new coins – essentially interest on your money.
Think of it as a savings account at a bank, only with significantly higher returns. How to start: in the exchange app, find the “Earn” or “Staking” section, choose a cryptocurrency you already own, and confirm. Your coins immediately start generating passive income.
4. DeFi and Earning Interest (Yield Farming)
DeFi stands for Decentralized Finance – these are financial services (lending, borrowing, earning interest) that work without banks, directly through smart contracts (automated programs on the blockchain). One of the opportunities within DeFi is yield farming – you lock your cryptocurrencies from your wallet into a special protocol, and it pays you interest that can be higher than with traditional staking.
I recommend this method only once you already have some experience with the basic steps, because DeFi platforms are somewhat more technical than a regular exchange.
5. Airdrops – Free Cryptocurrencies
An airdrop is a promotion in which a new crypto project gives you its coins completely free, usually in exchange for trying out their app, signing up for their list, or completing a few simple tasks.
How to start: follow sites such as CoinMarketCal, which publish upcoming events and airdrops, and take part in test versions of new apps. It’s one of the few methods in crypto where you can earn without investing your own money – you only invest your time.
6. Spot Trading
This means you buy and sell cryptocurrencies at the current market price and become their actual owner. You can sell your crypto after just a few hours or days, or you can hold it for months or even years. Many investors use spot trading to take advantage of price fluctuations, but it’s suitable for both short-term and long-term investing. This kind of trading can bring a profit, but it requires a good understanding of the market, discipline, and control over your emotions.
My advice for complete beginners: Don’t start with large amounts right away. Trade with a smaller amount of capital first and learn how the market works. When choosing cryptocurrencies, pay particular attention to market capitalization (the total value of all coins of a given cryptocurrency) and trading volume (the value or quantity of purchases and sales within a given period of time), rather than making decisions based solely on rumors or social media posts.
7. Referral Programs
Almost every exchange has its own referral program, where for every new user who signs up through your link and starts using the platform, you receive a certain percentage of commission or a bonus in cryptocurrency. If you have friends who are interested in crypto, this is a simple way to earn extra without investing any additional money.
The Most Common Beginner Mistakes (and How to Avoid Them)
Over the years, I’ve noticed that beginners don’t lose money because of bad cryptocurrencies, but because of wrong decisions driven by emotions. Here are the three most common traps.
FOMO (Fear of Missing Out) – the fear of missing an opportunity. When you see a certain cryptocurrency rise 100% in a single day, you’re tempted to buy at the very top because you’re afraid you’ll otherwise “miss the train.” The price then often drops and you lose money. The solution: never buy just because something is rising fast.
Panic when the price drops – when the price falls by 20% or more, many people get scared and sell everything at a loss. Experienced investors often do exactly the opposite in such moments – they buy more, because they know fluctuations are a normal part of the market.
Investing money you can’t afford to lose – this is the golden rule that I repeat in every article. Invest in cryptocurrencies only money you can live normally without, even if you were to lose all of it. That way you remove fear from the equation, which is what leads to bad decisions.
How to Keep Your Money Safe
Before you dive into earning, you need to make sure you don’t lose your money because of carelessness rather than the market. A few basic rules:
- Use two-factor authentication (2FA) on every exchange you use – this means that when logging in, in addition to your password, you also enter a code from a special app on your phone.
- Never share your private key (private key) or your wallet recovery phrase (seed phrase) with anyone – this is the only real way someone can steal your funds.
- Use only verified, established exchanges that are used by millions of people around the world.
- Never click on links in suspicious messages.
How to Choose the Right Exchange to Start With
When choosing an exchange, pay attention to three things: security (how long the exchange has existed and what kind of reputation it has), ease of use (whether the interface is understandable even to a complete beginner), and offerings (whether it supports staking, DeFi, and low fees).
How to Track Your Progress
Once you start using multiple methods at the same time (for example, HODL on one exchange, staking on another, and airdrops here and there), keeping track of everything can get confusing. That’s why I recommend installing a portfolio tracking app such as CoinStats, where you manually enter your purchases. The app then shows you the total value of your assets, your profit, and your allocation among individual cryptocurrencies all in one place.
This isn’t a mandatory step, but it’s very useful, since it gives you a clear picture of whether your strategy is working in the long run, without having to check each exchange separately every day.
How Much Can You Realistically Earn with Cryptocurrencies
This is the question I get asked most often, and the answer is an honest one: it depends on how much money you invest, which method you use, and how much time you’re willing to put into learning. Someone who invests a small amount monthly through a DCA strategy and additionally uses staking can build a nice passive income over the long term. Someone who gets into short-term trading may earn faster, but also takes on greater risk.
My advice: start with small amounts, combine several methods at once (for example HODL, staking, and airdrops), and keep building your knowledge as you go. Those who succeed in crypto over the long term aren’t the ones who got lucky with a single decision, but the ones who stayed consistent and patient.
If you want to see how I personally allocate my funds among different methods and how I built a system that works even without watching the market every day, you’ll find it all in my free crypto e-book.
Your First Month: A Practical Step-by-Step Plan
I know that all seven methods can be too much information at once when you’re starting out. That’s why I’m giving you a concrete plan that you can follow week by week.
Week 1 – preparation. Open an account on one of the established exchanges, complete identity verification (the process by which the exchange confirms that you are really you) and turn on two-factor authentication. This is the only step where you’ll spend a bit more time – after that, everything goes faster.
Week 2 – your first purchase. Invest a small, test amount ($10 to $20) in an established cryptocurrency such as Bitcoin or Ethereum. The goal this week isn’t to make money, but to get used to how buying works, what your wallet looks like, and how to track the value of your assets.
Week 3 – set up passive income. Move some of the coins you bought to the “Earn” or “Staking” section of your exchange. This way, your money starts generating interest even when you’re not doing anything. At the same time, set up an automatic monthly purchase (a DCA strategy) so that from here on you no longer have to think about buying manually.
Week 4 – expand your knowledge. Check for airdrops on sites like CoinMarketCal and explore whether any new project is offering free coins in exchange for trying out their app. This is pure “bonus” income that doesn’t require any invested money.
After the first month, you’ll have a basic system that builds your passive income in the background on its own, and you’ll be able to decide whether you want to add more active methods, such as spot trading. This entire journey, step by step and with additional practical tips, is also explained in my free crypto e-book.
A short glossary of terms from this article
So you don’t have to scroll back through the article, I’ve gathered the most important terms in one place:
- Blockchain – a public, immutable database in which all cryptocurrency transactions are recorded.
- Exchange – an app or website where you buy, sell and manage cryptocurrencies.
- Wallet – a place where you store your cryptocurrencies.
- HODL – a strategy of holding cryptocurrencies for the long term regardless of price fluctuations.
- DCA (Dollar Cost Averaging) – regularly and automatically investing the same amount regardless of the current price.
- Staking – locking up cryptocurrencies to support a network, in exchange for interest.
- DeFi (decentralized finance) – financial services without banks that operate through smart contracts.
- Yield farming – earning interest on cryptocurrencies within DeFi protocols.
- Airdrop – a free distribution of a new project’s coins to users.
- Altcoin – any cryptocurrency that isn’t Bitcoin.
- FOMO – the fear of missing out, which leads to impulsive purchases.
- Market cap – the total value of all coins of a given cryptocurrency.
- 2FA (two-factor authentication) – an additional security code on top of your password that makes logging in significantly safer.
- Seed phrase – a string of words that lets you recover your wallet; never share it with anyone.
Frequently asked questions about earning with cryptocurrencies
Do I need a lot of money to start earning with cryptocurrencies? No. Most exchanges let you start with as little as $10 to $20. More important than the amount is that you get started and build experience and a habit of regular investing.
Which method is best for complete beginners? A combination of a DCA strategy (regular monthly investing) and staking (passive income on coins you’ve already bought) is the simplest for beginners because it doesn’t require watching the market every day.
Is earning with cryptocurrencies risky? Like any form of investing, cryptocurrencies carry risk, since prices fluctuate. You reduce the risk by investing only money you can afford to lose, using established cryptocurrencies, and avoiding emotional decisions.
How much time per day do I need to devote to cryptocurrencies? If you choose methods like staking and HODL, after the initial setup you need to spend practically no time on it each day. Active trading, however, requires regular monitoring.
Where can I follow cryptocurrency news in Slovenian? My website zannekrep.si regularly publishes practical, easy-to-understand crypto guides tailored to Slovenian readers and complete beginners.
Conclusion: take your first step today
Earning with cryptocurrencies isn’t reserved for the chosen few who understand complicated charts, nor is it a game of luck. It’s a combination of the right methods, patience and consistency. Today you’ve learned seven concrete, proven ways – from completely passive ones, like HODL and staking, to more active ones, such as spot trading. Choose the one that best fits your time and the level of risk you’re willing to accept, and take your first small step.
Don’t wait for the “perfect moment” – in crypto, it doesn’t exist. The best time to start is now, with an amount you can afford to lose and with the knowledge you’ve just gained.
If you’d like me to personally guide you through all the steps, from opening your first account to your first crypto earnings, download my free crypto e-book
