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How to Make Money Freelancing

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Freelancing and independent contracting is growing more and more prevalent in the United States and worldwide. Gone are many of the traditional 9 to 5 jobs and onsite work hours. Freelancing is an attractive option for individuals looking for flexibility and a constant change of scene. But how can individuals make money freelancing?

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Good question.

What follows are 4 ways to help you create a revenue out of freelancing/independent contracting, no matter your professional field.

Refine and define your skill set.

When you decide to be a freelancer, you have formed your own business consisting of you. You are the product/services, the CEO and the sales team. This means that you need to brand yourself according to your skill set, and that means you have to know what you can do for people.

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Are you a graphic designer? What kind of graphic design is your specialty? Maybe you are an animal lover. There are individuals and whole businesses flourishing as pet walkers, sitters, and groomers.

Refine your skills into a definable list so that you can brand yourself and find clients.

Build a portfolio.

Building a portfolio usually involves committing to some free work. Offer to help a friend or friend of a friend complete a project with two conditions: you receive a letter of proof that you completed work for them, and you have the freedom to use that work as an example of what you can accomplish.

If you work within the creative market, building a portfolio may not be that difficult. You can produce tangible examples of your work that can be read, admired and watched. These examples can easily be converted digitally for potential clients.

If you are an animal specialist/whisperer/groomer or a landscaper or an interior designer you have several options for building a portfolio. Firstly, consider asking for reviews and recommendations from any previous or current clients. Secondly, document your work through videos and pictures. A picture of you inside one of your carefully designed interiors says a lot about you, even if the design is in your own abode. Lastly, you might compile a short list or paragraph of insights into your particular field. This insight shows potential clients that you know what you are talking about.

Register online on freelancing websites.

There are a slew of freelancing websites that are legitimate, safe and extremely helpful to freelancers. Different sites have various payment options, and some may take a cut of your pay. Keep that in mind when you bid for jobs.

  • Upwork
  • Toptal
  • Elance
  • Freelancer
  • Guru
  • College Recruiter
  • SimplyHired

There are even more sites that only offer creative or media-related work, such as:

  • 99designs
  • Peopleperhour
  • Freelance Writing Gigs
  • Demand Media
  • GetACoder
  • iFreelance
  • Project4hire

Outside of these sites, there is always Craigslist, which offers freelance job postings in your local area. Craigslist can be sketchy though, so use it with caution.

Work.

Whether you work for a pittance at first or even free, building a history of work is the best way to find new work. You will learn and grow in your skills, build a portfolio, and receive recommendations and reviews that help legitimize you. Every client is connected to their own network. When you work your best for every client, that attitude and level of service shines through.

Making money freelancing is not always easy. Work is not always constant or reliable. But when you have a defined brand, continue to build your portfolio, utilize online platforms and commit to work hard on every project, you have set yourself up for success.

Are you a freelancer or do you want to try it out? Leave a comment below and let us know your thoughts.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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1 Comment

  1. derick

    September 17, 2017 at 6:35 pm

    I fine myself in a situation where i can’t seem to define what is it that i can do to help people in one or two words. It makes it difficult to sell myself.
    let me try to list what i have to offer here.. may be some help could come.
    presently i already work for a crypto project called blockoptions. basically what i do for there is;
    writing of white paper, articles, managing their social medial sites like facebook,twitter,slack and bitcointalk etc..
    i know am a good writer when it comes to crypto related things.
    aha while writing this a name came to my mind. technical writer in the crypto field. still too long i think. Am also a good PRO. am the community manager at blockoptions.
    so please can you help me give me a name to what i do and how to start free lancing ?
    i will be happy if you walk me through this

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Fidelity Investments is Mining Cryptocurrency

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Fidelity Investments is a multi-billion dollar brokerage  that just so happens to be mining cryptocurrency. In fact, it has been at it for three years, using its own computers to harvest bitcoin and Ethereum.

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Profitable Experiment

CEO Abby Johnson recently told Fortune that its U.S.-based mining operation is “making a lot of money.” This comes despite running a relatively modest operation.

Hadley Stern, Senior VP of Fidelity Labs, described his company’s venture as an “experiment.”

The real reason we began mining, and still do, is to learn how the network works, how consensus works, how difficulty levels work,” he said in reference to the mining process.

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The key to profitability has been the dramatic rise in cryptocurrency over the past year. Bitcoin and Ethereum are the world’s No. 1 and 2 cryptocurrencies by market capitalization, and no-one else comes close.

Well Ahead of the Pack

The fact that Fidelity has been at this for three years speaks volumes about the company. Other, much bigger players are still dipping their toes in the market, but are unsure about how to proceed. Goldman Sachs is reportedly on the fence about starting a cryptocurrency trading operation, while J.P. Morgan has already begun handling customer orders for bitcoin-based instruments.

Fidelity is doing a lot more than just mining tokens. Earlier this year, it reached an agreement with Coinbase to let customers view cryptocurrency prices alongside other assets on their Fidelity homepage.

Coinbase is the world’s most funded cryptocurrency exchange with more than 7.4 million users.

Cryptocurrency Prices

The cryptocurrency market ended the week on a firm note, with bitcoin (BTC/USD) reaching a session high of $4,425.00. At press time, the index was up 1.6% at $4,368.

Ether is also trading higher against the dollar, with the ETH/USD rallying more than 3% to $305.

Ripple (XRP) lost momentum on Friday, but still managed a weekly gain of 21%.

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Chinese Government Eyeing Fresh Bitcoin Legislation?

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The Chinese government could roll out fresh cryptocurrency regulation in the coming months permitting licensed brokers to operate, based on recent information from Xinhua.

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The state-owned news publication recently revealed that the government is mostly concerned with stamping out illegal activity involving bitcoin and other cryptos. Government authorities could be planning to regulate the market by creating a licensing program with strict Know Your Customer (KYC) and Anti-Money Laundering (AML) systems.

The Case for AML

The need for KYC/AML protocols has long been raised by cryptocurrency proponents, especially in reference to initial coin offerings (ICOs). In response, the blockchain community has come together to create the Simple Agreement for Future Tokens (SAFT). The SAFT is both an instrument and open-source framework for token sales that vets accredited investors.

SAFT activity is quickly gaining traction, with the likes of Gizer recently issuing a presale of its ICO through SAFTLaunch.

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SAFT was officially created by Protocol Labs in close collaboration with AngelList and Cooley.

China’s Stance Looms Large for Cryptocurrency Market

Although digital assets have recovered from the China-induced flash crash of September, favorable regulations on the mainland could mean big business for bitcoin exchanges. Prior to the ban on ICOs and bitcoin brokers, Chinese investors were responsible for a quarter of all BTC trades.

According to Xinhua, China is likely to pursue a licensing program similar to Japan, a country that recently approved 11 cryptocurrency exchanges. CnLedger, a leading source of cryptocurrency news in China, recently had this to say:

“Xinhua News, official press agency of CN: Virtual currencies have become the top choices of underground economies. We shall adopt ‘0-tolerance policies’ towards crimes hidden underneath and take measures such as record-keeping, licensing, AML processes, real-name, limiting large transactions.”

Is China’s cryptocurrency ban temporary? It certainly looks that way. Regulators must already know that the ban hasn’t stopped mainland investors from buying cryptocurrencies next door in Hong Kong or Singapore. A saner approach to an all-out blanket ban is a tighter regulatory framework that will stamp out money laundering and other underground activities.

«Featured image from Shutterstock.»

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Tim Draper Has Made Over $110 Million Since 2014 With his Bitcoin Investment

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Tim Draper, the billionaire technology investor and prominent venture capitalist who has invested in some of the most successful technology startups in the likes of Coinbase, Patreon, SpaceX, Tesla, Box, FourSquare, has profited over $110 million from his investment in bitcoin less than three years ago.

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In 2014, Draper participated in the auction of 144,336 bitcoins by the US government and the US Justice Department, which were seized during the investigation into Silk Road, a dark web marketplace. Draper was granted the permission to purchase a batch of 30,000 at around $600 from the US government.

Upon securing 30,000 bitcoins, Draper told Fox Business:

“[I’m] very excited about bitcoin and what it can do for the world. Bitcoin is as big a transformation to the finance and commerce industry as the internet was for information and communications. If bitcoin were here in 2008, it would be a stability source for our world economy. Everybody should go out there and buy a bitcoin. Every investor who’s a fiduciary should at least be partially involved in bitcoin because it’s a hedge against all the other currencies. There’s a whole ecosystem being built that’s going to make commerce much easier with much less friction and safer.”

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Today, Draper’s 30,000 bitcoins are worth $129.9 million. Considering that Draper had spent $19 million purchasing the batch of 30,000 bitcoins in 2014, Draper has recorded a profit of over $110 million in less than three years.

While Draper held onto his investment in bitcoin, the US Justice Department was quick all of the 144,336 bitcoins seized during the Silk Road operation. According to various sources, the US government sold the majority of its 144,336 bitcoins at a price of $336, at $48 million. If the US government had sold its bitcoins in 2017, it would have generated an additional profit of around $573 million, as 144,336 bitcoins at today’s bitcoin price of $4,330 are worth $624.9 million.

Bitcoin price was below $350 in 2014. Today, it is over $4,330.

Since 2014, in addition to purchasing tens of thousands of bitcoins, Draper has funded some of the most successful bitcoin companies in the cryptocurrency market including Coinbase and Korbit. Earlier this year, Coinbase secured a $100 million investment at a $1.6 billion valuation, while Korbit was acquired by the parent company of a $10 billion gaming company in Nexon at a $140 million valuation.

Furthermore, Draper has not sold his stake in Coinbase and earlier this year, Brian Armstrong, the CEO of Coinbase, revealed that Coinbase is still at an early stage in terms of developing and scaling. Armstrong noted that it will evolve into the safest and most trusted exchange in the global market.

“Digital currencies are having their ‘Netscape’ moment. The pace of innovation has been accelerating and we are now seeing exciting projects and companies being built on top of digital currencies. We’re beginning to transition into phase three of our secret master plan. Our goal is to be the safest, most trusted and compliant, and easiest to use. Not the first to market with new assets. Especially at scale, it takes time to ensure any new asset we add is well tested and secure,” said Armstrong.

Coinbase is also one of the two exchanges in the US market apart from Gemini that is targeting institutional and retail investors by providing sufficient liquidity. As Coinbase and its flagship cryptocurrency trading platform GDAX continue evolve, Draper will position himself at the forefront of cryptocurrency innovation and disruption.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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