Are you spending money first and feeling guilty later? Well, that can be changed! Let's introduce some passive crypto-earning strategies to convert your extra bucks into fun money.
Instead of spending your hard-earned money on things you don't really need, you can make that extra bucks work for you, especially in the cryptoverse.
You can generate passive income with cryptocurrencies through an investment or staking; bear in mind that they're long-term strategies. This type of income requires patience and faith in the cryptocurrency market, as well as some knowledge on how to invest properly.
Best Ways to Earn Passive Income With Cryptocurrencies
Cryptocurrencies are the best alternatives that can yield nice growth over the span of months to years without doing absolutely nothing. Here are some of the ways by which you can generate extra income with crypto.
Investing in Bitcoin means you can earn passive income with crypto investment and staking. It is one of the best ways to invest money, especially if it is a long-term commitment.
Bitcoin has been around since 2009 and has grown from $0.003 to more than $69000 in just 13 years. If you invested just US$100 in bitcoin in 2016, it would have been $6900 at its peak in 2021! Nice.
Crypto staking to earn high APY and APR
The crypto market is a very volatile one. It is also a highly speculative one. Investors are always looking for new ways to earn higher interest rates on their investments. One such way is crypto staking which can earn up to 200% in APY on your investment.
Crypto staking has been around for a few years now, but it still remains a mystery to many people. The concept of crypto staking is simple - you invest in cryptocurrencies, hold them for a certain period of time and then get rewarded with interest rates that are much higher than what traditional investments offer.
People in the cryptocurrency space are not just investors. They are also marketers, community organizers, product managers, and developers. If you have a Twitter handle, YouTube channel, Instagram account, or Telegram community with a large number of followers, many of those crypto companies will contact you to promote their projects on your platforms. Thus, you can make an easy few thousand bucks in a matter of months.
Minting and selling NFTs (Non-fungible tokens)
The money is never sitting still in the cryptocurrency space. There are always new projects and new opportunities to generate interest with passive income while participating in the next big thing in blockchain tech, such as creating your set of NFTs and selling it online.
Play-and-Earn with crypto gaming
Crypto gaming is the newest trend to hit the blockchain and cryptocurrency market. This decentralized gaming system can make you a great deal of money just by playing games. The game is based on a blockchain and is played using a smart contract. Crypto gaming has been around for a couple of years now, and you can utilize this technology and make some extra tokens if you are a hard-core gamer.
Well, the list of passive income programs is long, but we will keep it short. Keep yourself up to date with this blog, as we will put a full list of crypto passive earnings soon.
Those who want to earn a passive income may have a better chance of doing so if they stick with genuine projects, but there is no guarantee that it will always work. As the crypto market is so volatile, you need to practice caution while investing your money in this sector.