How to get passive income using Bitcoin
Over the past 2 years, investment instruments and the profitability of crypto assets have increased significantly, and today anyone can receive passive income. Rate validators, decentralized finance (defi) lending services, and interest rate accounts provide digital currency holders with ways to make money work.
Crypto Earnings and Passive Income
Many people have already earned millions or billions by investing in crypto assets, holding them for a long time or trading them. Today there are a huge number of new cryptomonets, there are already more than 5,700 of them. There is an opportunity to earn on most of them using rate validators or wallets, storing digital currencies on services that pay interest and accumulating returns from certain defi loan applications. Service stakingrewards.com provide information about providers that give you rates and interest accumulation. Also, there is a yield calculator that you can use.
Wallets as a source of passive income
Many platforms offer their users PoS bid. Similar services pay you for storing cryptocurrencies on your wallet or inside the program, using the PoS betting service.
Representatives of such services: Mycointainer, Staked, Just Mining, Hashquark, Figment Networks, Everstake, Infstones, etc. Everyone's profitability is different, it depends on the service. The choice of cryptomonets for each service is large, there is an opportunity to make a profit from 1-100%. For example, Hashquark users can bet on coins such as dash, cosmos, irisnet, qtum, tezos. Each coin has a different earning rate: Cosmos can attract people up to 8.09% on the Hashquark platform, while tezos offers up to 5.5%.
People interested in storing and betting PoS coins can use Cake Defi, Atomic Wallet, Chainode Tech, Math Wallet and Gaurda Wallet wallets.
Depository interest accounts and decentralized financing
For passive income, people who wish to receive deposit interest for storing cryptocurrencies can use the following platforms: Aave, Nuo Network, Compound, Dydx, etc. These platforms give interest on deposits.
Aave supports 15 different digital assets. Aave enables people to receive from 0.02% to 4.92%.
Stablecoins are popular in such services today. Stable coins like USD and USDC, give great returns.
Using borrowed funds Crypto.com , enable their users to earn up to 8 percent per annum. And also, up to 12 percent for stable coins.
The Cred web resource offers its users to earn monthly and even daily interest. Many cryptomonets and even bitcoin are available for storage. And already according to the classics, an income calculator is provided.
For example, if a client deposits 50 BTC in a semi-annual program, he can receive $ 218 per day.
Passive income from crypto earnings and related Risks
Yes, storing your assets has some risk, since you keep your coins from third-party suppliers. You are not immune from hacking the exchange or their bankruptcy.
Despite some of the risks involved, interest rates on loans and total returns are much higher than traditional banking services. A very big plus is that entering the crypto world is much easier than entering the traditional financial system of a bank. After all, in order to get the desired easy profit, you do not need to go to some banks and study stacks of papers.
At a time when people just keep coins on their wallets for a long time. Many already use services for passive income.