Last Updated on 2022-06-29 by AlexHales
Blockchain apps are a powerful way to make money. It allows you to create effective and unique digital solutions which are usually not possible by any other technology. Many business people enthusiastically invest in blockchain app development. But sometimes they are not aware of how to monetize their apps.
Due to lack of this knowledge, they often struggle to monetize their blockchain apps. Being a blockchain developer I know how it goes. Therefore, here I have shared some effective ways to make money from blockchain apps.
What are blockchain apps?
Blockchain apps could be software, web, or mobile applications that are built on blockchain technology. These applications are used to provide secured and fast accessibility to any digital services. Companies use blockchain apps in different types of use cases. Blockchain apps are decentralized applications that record information in the form of blocks. It allows access to only defined users across multiple networks.
Blockchain apps provide many benefits like security, reliability, cross-border transaction ability, cryptocurrency exchange, and more. Therefore, businesses look for the best blockchain development company to develop industry-oriented blockchain apps for many use cases.
How to Make Money from Blockchain Apps
Cryptocurrency mining is one of the popular ways to monetize a blockchain application. Today, there is a high number of cryptocurrencies in the market. These cryptocurrencies are mined through computer programming to solve complex mathematical equations. Several companies create dedicated blockchain mining software for smartphones and desktop PCS. While some use their own programs for cryptocurrency mining.
Hence, startups can develop cryptocurrency mining applications that assist users to mine their desired cryptocurrencies. These apps can make money based on mining or monthly subscription methods.
ASIC and GPU are two primary options for earning cryptocurrency in the blockchain ecosystem at present time. Any person can create digital assets on their mobile devices. Users can also use cryptocurrency to pay for goods and services on multiple platforms.
2. Crypto Faucets
Crypto Faucets are among the easiest ways to make money from blockchain apps. Crypto Faucets are a type of blockchain application. It lets users distribute and access cryptocurrency without the need for cryptocurrency mining. The core purpose of this method is to overcome the burden of the complex technical process of cryptocurrency mining. It allows users to go without the mining process.
It works in this way. When a user completes a task on the platform. For example, watching ads, solving a captcha, or playing games. Then, blockchain platforms reward users with small amounts of bitcoin. The platform mainly rewards users in Satoshis which is the lowest possible unit of bitcoin.
So when users accomplish the task of watching ads he or she receives some amount of Satoshis. And advertisers then pay the blockchain apps per click and impression. In this way Crypto Faucets produce money. Hence, you can adopt Crypto Faucets in your blockchain apps to run ads and other types of marketing methods and make money.
3. Run Master Nodes
Master node is a dedicated network or server which works as a secondary network layer or tier to the main blockchain network. It performs as a secondary layer to the blockchain. And makes the two interconnected a combined blockchain network.
These master nodes need a definite number of coins that are located in a wallet. The main feature of the two interconnected blockchain networks is that it makes it highly expensive to corrupt the network. Anyone who wants to access the network, they have to pool collateral for over half of the entire master nodes. As a result, cracking the network becomes almost impossible.
So, when you host a master node, it means you are contributing to blockchain network security. Therefore, in return, you are compensated with a reward. Being a host of master nodes, you receive money from the blockchain network owner. And thus, you make money by providing master nodes service.
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Crowdfunding is one of the best ways to make money from blockchain apps. Crowdfunding is a very important financial activity that requires great trust, reliability, and accountability. At present, businesses are looking for effective and trustworthy solutions that allow them to easily and securely receive funds for crowdfunding.
Companies even hire top blockchain application development companies for building robust crowdfunding solutions. Hence, you can also develop blockchain apps that provide crowdfunding services to businesses.
For example, PledgeCamp is a popular blockchain-based crowdfunding platform. This application works as a secure and transparent platform for crowdfunding. Hence, you can also create a similar crowdfunding platform using blockchain technology and provide robust solutions for crowdfunding.
5. Earning Commissions from Cross-Border Transactions
Money transfer has become an essential part of every business field. And due to rapid globalization and cross-border commercial activities, there is a drastic need for cost-efficient solutions for cross-border transactions.
In earlier methods, businesses either had to use Western Union or other foreign fund transfer services for sending or receiving money. These conventional methods take a lot of effort as well as fees. But with blockchain technology, sending money to different countries is no more expensive.
You can build a P2P payment application using blockchain that allows users to transfer money to any location in the world at a lower fee. Hence, blockchain apps can earn money by taking fees for providing cross-border fund transfer services.
Blockchain apps are certainly highly profitable ways to make money. Today, businesses are now tremendously using blockchain in every field. Consumers now expect to want to use blockchain-based services on mobile devices . Therefore, the scope for earning for blockchain apps is also increasing day by day.
So, to ensure your blockchain apps make huge money, try to build solutions with the help of the top mobile app development company. They will assist you to develop a profitable monetization model for your blockchain apps.