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How to Build a $5k/month DeFi Side Hustle With no Start-up Capital. [Practical Steps]

In this article, I will show you some practical ways to earn income in DeFi without spending money.

How to Build a $5k/month DeFi Side Hustle With no Start-up Capital
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Did you miss out on the chance to earn a living from past innovations like the internet and Bitcoin?

Don't worry. You are not alone. Many people have the same feeling. But the truth is that innovation will always come.

New technologies and opportunities to create a new career are constantly emerging.

One of these technologies is DeFi (Decentralized Finance) in crypto.

In this article, I will show you some practical ways to earn income in DeFi without spending money.

Not only that. I will show you the exact steps to land your first job in Web3, irrespective of your skill.

Are you ready?

Let's get started.

But before we do, please note that these methods are not get-rich-quick schemes. They require work and dedication to see results.

What is DeFi and How Can You Make Money in DeFi?

DeFi, short for Decentralized Finance, is a new financial system based on blockchain technology .

DeFi does not rely on centralized institutions like banks to provide financial services.

Instead, it uses decentralized networks, mainly based on smart contracts on platforms such as Ethereum, Solana, Avalanche, etc.

Smart contracts are digital contracts that execute transactions automatically according to predefined rules and conditions, ensuring trust and security.

With DeFi, you can access various financial products and services, such as lending, borrowing, trading, yield farming, staking, and more.

These services are open and permissionless, meaning anyone can use them anytime and anywhere, without intermediaries or restrictions.

DeFi has many advantages, such as lower costs, higher efficiency, and greater financial inclusion.

However, it also has some challenges, such as smart contract bugs, market volatility, impermanent loss, hacking and security breaches, exit scams and Ponzi schemes, low liquidity risk, etc.

If you want to participate in the DeFi space, you can earn money by using your existing skills or learning new ones. Here are some of the skills you can offer in the DeFi niche:

  • writing
  • DeFi Researcher
  • graphics design
  • marketing
  • software development.

 Writing

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Writing

You can earn $3,000 monthly from writing for DeFi Protocols.

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 developers often know how to write coding languages.

They rarely know how to teach people how to use their DeFi protocols or market their product. And this is where a Technical writer comes in.

DeFi protocols 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. My previous quote was conservative.

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. 101Blockchain 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. Before then, you've built your portfolio. They can see you can do the work.
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DeFi Researcher: What do DeFi Researchers Do?

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DeFi Researcher

Analyzing DeFi Protocols: DeFi researchers study how the various DeFi projects work, including their strengths, limitations, bugs in smart contracts, etc.

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

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

Consulting: DeFi projects consult researchers to understand essential 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.

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DeFi

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 new DeFi protocols, e.g., Aave, Compound, etc., 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.)

Graphics Design

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Graphics Design

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 DeFi projects and founders find you.

How do you Make Money from DeFi as a Graphics Designer?

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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 DeFi, then get into DeFi 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.

 Marketing

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 Marketing

Web3 is an industry of evergreen opportunities. The opportunity to earn up to 10k per month is there.

The only thing stopping you from making such figures is this information and the will to take action.

How to Become a DeFi Marketer

  • Understand the Web3 space in general.
  • Read this marketing strategy to grow crypto projects . Get a free course 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. You don't have to finish reading these books before sharing your knowledge on social media.
  • 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.
  • Land clients and make money.
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 Software Development

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 Software Development

This is the most technical of the skills discussed here. It will take you a longer time to learn.

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 basics of blockchain and how blockchains function. 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.

Bonus: How to land your first job in web3 in six simple steps.

1. Find a project via Twitter that seems exciting and fun

2. Listen and observe how they operate and what they're working on

3. Do something that meaningfully adds to their mission

4. Meet the people and give them what you've done.

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5. Pitch to work with them. If they don't employ you, ask for feedback and testimonials.

6. Add the testimonial to your portfolio and repeat the process.

Some points to keep in mind:

Create something you can be proud of. Don't settle for mediocre work - aim for excellence and value. Think about what would make a positive impact and do it well.

- But don't get stuck in analysis paralysis! You have to TAKE ACTION! Deliver it! The world is full of people who talk a lot but do little. Be different from them.

- You don't need a reason to say hi! Say this: "Hello! I'm trying to connect with more people in Web3. I've enjoyed working with [PROJECT ABC] and wanted to meet the people behind it. "Do you have 10 minutes?"

Closing Thoughts

You can profit from your skills if you keep developing and upskilling yourself.

The more you get good at your craft, the more you can charge more money.

DeFi presents exciting opportunities to earn from your digital skills, and you can grab the opportunity today. However, while you proceed with your career in DeFi, 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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