How to Make $10,000 Using Ethereum, Binance Coin and MetaMask

make 10k with eth bnb & metamask

Decentralized Finance, also known as “DeFi” has taken the world by storm. The possibilities to earn money with cryptocurrencies are endless. Understanding how to make money with DeFi is the important matter at hand. In this guide, we will show you how.

Before we proceed, please understand that we are not financial advisors. The advice given in this article is strictly for educational purposes. Your experiences with DeFi or any crypto-related investments may differ from ours and others.

 

Investing Into DeFi

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Similar to stocks that have a certain value per share, cryptocurrencies like Bitcoin have a value per coin or token. If you were to get into Bitcoin when it first hit the scene and purchased 100 coins, today it would be worth around 5.5 million dollars.

Today, new cryptocurrencies are being released and are being sold for under a penny. A token named $SAFEMOON for example (at the time of this article) costs around $0.00005 cents. If someone purchases $5,000 worth of that token and it moves to $1, they would earn 50 million dollars.

Now you can imagine all of those individuals back in 2009 who purchased Bitcoin when it was under $10. If they were to hold all of those coins, right now in 2021 they would be extremely wealthy. The same concept follows for new emerging crypto coins.

Any token off of the ERC-20 network or Binance Smart Chain (BSC) network has the potential to earn you $10,000 or more in a matter of days, but it all depends on how much you invest and what token(s) you choose. Meme coins like $SHIB and $AKITA are examples of short-term investments that have made many people wealthy in a short period of time.

How To Find and Buy DeFi Tokens

Do your research first. Discover new token releases by joining groups on Reddit and Telegram. Once you know what you want to put money in, find out if the token is a part of the ERC-20 (Ethereum) network or BSC (Binance Smart Chain) network. ERC-20 tokens are traded on Uniswap and BSC tokens are traded on PancakeSwap.

Check out this guide on How to Use Uniswap and view this guide on How to Use PancakeSwap. You will be using the MetaMask wallet, a web browser extension that allows you to connect to both networks and store tokens.

To fund transactions over each network requires a Gas Fee. Gas really means Ethereum (ETH) and Binance Coin (BNB). Without it, you will not be able to exchange or buy DeFi tokens. You can purchase both Ethereum and Binance Coin on the Binance Exchange platform.

 

Investing Into Non-Fungible Tokens (NFT)

rarible nfts

One of the biggest waves to hit 2021 is none other than the NFT market. NFT which is short for Non-Fungible Token allows you to mint any piece of artwork and sell it. Because each piece of digital artwork published on the ERC-20 blockchain is minted as a token, your work can never be plagiarized or counterfeited. A timestamp with all the metadata of that artwork is stored on the blockchain.

If you are a creative artist and have a social following who enjoys your art, selling your very own NFT will be much easier versus the person who is new and just starting out. You have the option to sell a series of art pieces which can total $10,000 or more. You can also just sell 1 unique piece for $10,000.

Because your NFTs are minted on the ERC-20 blockchain, you will pay fees using Ethereum. If your artwork gets sold, you will get paid in Ethereum as well. All of your transactions will take place in your MetaMask wallet.

Popular artists, celebrities, and influencers are already capitalizing on NFTs. As mentioned before, due to persons already existing fan-base and popularity, they have sold pieces for upwards of millions of dollars. Artists like Beeple sold an art piece for 86 million dollars.

How To Get Started In Selling NFTs

You will need to sign up with a website called Rarible. Here you will be able to upload your artwork, set a price, and sell it to the public. Rarible gives you your very own page where you can share with family & friends, and post on social media for the world to see.

Rarible will connect to your MetaMask wallet. On MetaMask, make sure you select the correct account. This account will always be connected to your Rarible profile.

Fund your MetaMask wallet with Gas (ETH) using Binance. Binance allows you to buy Ethereum using a debit card or credit card. If you already have another cryptocurrency, you can exchange it for Ethereum and send it directly to your MetaMask wallet.

 

Investing Into Digital Animals

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Back in the 1990’s it was cool to own and take care of digital animals. These so-called “animals” were on a device called the Tamagotchi. You would raise the animal, take care of it by feeding it and showing affection.

Fast forward to today, you can own your own digital animals, but instead of it being on a small keychain-sized device, it would be on the blockchain. A service where you can own your very own digital pets is on Axie Infinity.

Axie Infinity allows you to own and breed digital pets. The animals that you breed can be customized and sold for Ethereum. The more pets that you own and breed, the more money you can earn over time. If you have an army of these digital animals, earning well over $10,000 a month can become relatively easy.

Axies are being sold on an average of $180. If you were to sell 55 Axies, you can earn $10,000. Not only are these digital pets purchasable, but you can also buy land and items. Each land obtained can then be resold for a higher price.

Another platform that continues to grow in popularity is Crypto Kitties. Similar to Axie Infinity, you can purchase digital animals, upgrade them, breed more animals, then sell them on the platform for profits.

Because of the creative factor for each customization, a Kitty can be sold for as much as $50,000. Imagine having a cool collection of Kitties to sell, this may be well worth your time and creativity to join.

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