With each passing day, the international community moves further and further away from the usual financial notion of “the more you work, the more you earn.” Of course, to this day, there are still employees who are ready to stay in the office for 12 hours a day only to get that long-awaited raise. For some people, this is probably the ideal option for career development. It suits their lifestyle, character, and worldview and fits neatly into the boundaries of their perceived comfort zone.
But there are other people who see the future in their own peculiar way and put emphasis on the quality of working time, not the quantity of working hours. The most progressive of these types are hedging their bets on better sources of passive income and putting in some extra time to set up a business system, which they can then reap monthly income from without the active participation of the owner.
With the emergence of cryptocurrencies, the world has changed dramatically, and hardly will anyone dispute this. The financial system as a whole has entered a new stage of development. Over the course of the past few years that Bitcoin and Ethereum have existed, many progressive businessmen have begun generating better passive incomes with these cryptocurrencies. Now that these methods have already stood the test of time and produced wonderful results, we can now describe the techniques of working with them as well as offer some useful advice.
1. Crypto Credit
In the case of crypto credit, the system works the same as with ordinary money. There are people who need cryptocurrencies, and there are those who have cryptocurrencies. One person lends, another borrows at interest, of course. In this case, the lender can operate in several different formats, such as:
- A legal company;
- A private entity.
There are also online platforms that have created the conditions for two-way interactions in the form of crypto credit transactions. Two of the most popular and sought-after today are nexo.io and ethlend.io.
In all of the above options, cooperation between two parties takes place online, given that such currency does not have a paper equivalent. As follows, the transaction time is absolutely minimal.
What do you need to know? Over the course of pursuing a crypto credit project, you need to carefully and attentively work out your own position. It’s better to work as a legal entity or use online platforms. Physical entities working privately are significantly less trusted by borrowers.
2. Trading on Crypto Exchanges
With crypto exchanges, earning methods work very similar to how ordinary exchanges work with fiat money: in order to reap the maximum profit, you have to buy cryptocurrencies at the very start of their launch and then sell them at the peak of their pricing. In principle, a successful sale is one done following 10-20% growth.
To make a decent profit, you not only need money to purchase these currencies but also need to wield the analytical skills needed to make predictions on the growth dynamics of a given cryptocurrency on the exchange market. If it grows, wait; if it falls, sell urgently.
What do you need to know? Remember that not all Bitcoin forecasts will play into your hands as passive income. There are plenty of unforeseen situations, such as when a coin falls so sharply in price that no one wants to buy it any more, even though the logic behind such is not obvious. Be prepared for risks!
As in any game of chance, the winner gains while everyone else pays up – that’s just how the system works. Nothing can be done about it. So if you really want to stimulate your nerves and bet on winning, find online games that suit you. Here are some that are making their rounds:
- In FOMO3D on exitscam.me, you have to be the last to contribute before the countdown timer runs out. If someone else throws in after you, they win the reward and you don’t.
- In ROWH on powh.io, your income grows with the number of contributions by players who go after you, and you pay a penalty if you withdraw.
What do you need to know? Gambling games just aren’t designed for a large number of winners, so be ready to lose more than you win. But you can enjoy the drive and emotions; plus, this is the easiest form of passive income available.
This form of passive earning is somewhat similar to bank deposits, where you receive daily interest on the deposited sum. Masternodes are special nodes in cryptocurrency networks that check transactions against new blocks in blockchains and realize the transaction itself.
The main difference from mining is that the technological and technical requirements are simpler – you don’t need loud, energy-consuming, heavy-duty equipment. In order to get started with masternode, you need to invest a fixed sum of coins in a selected network. Here are some quotes:
- Dash has a starting price of 1000 coins (approximately $400,000). Your income will increase by $72 (approximately $26,300 a year) each day. This is considered one of the most generous offers on the market.
- BeetleCoin has a starting price of $486 with a daily increase of $2.50 (approx. $915 a year). This network is less well-known, so the entry fee is cheaper, but so are the corresponding interest percent.
- MNPcoin has an entry cost of 10,000 coins (approximately $1,148) with a daily plus of $.60 ($220 a year).
As you can see, the less in demand a coin is on the market, the easier it is to buy a masternode in its network. But the risks here are significantly higher, as the question always remains: will the price grow or fall over each month?
What do you need to know? In order to invest in a network, you need to also invest in deep analytical work studying the history of the cryptocurrency and its coins and learn about its founders and specific ICO features.
5. ICO-level Investment
ICO is the launch stage of new cryptocurrency coins. This period is the most favorable for investing, provided that the project really takes off (there’s always the chance that it won’t!). The system works like this: you invest in the development of the project by buying coins, then you receive dividends from their price increases. What are the various investment options?
- Purchasing coins at the pre-ICO or main ICO stage;
- Participating in bounty programs.
This is one of the classic ways to make better investments in passive income, and it really works.
What do you need to know? In order to ensure your financial situation, it’s better to immediately invest in multiple projects (having studied them well first, of course). If one starts exhibiting negative dynamics, then the second or third might still yield your expected income.
6. Reward Programs
One can find a number of resources online that are ready to pay you simply for storing your cryptocurrency on their platform or purchasing coins from them. Some of the most famous include:
- Kucoin exchange;
- NEO blockchain;
- Vechain cryptocurrency network;
- Ontology project.
What do you need to know? If you want to go this route, always keep some of your coins in your own wallet in order to avoid unpleasant situations that may involve the disappearance of your coins from your account.
7. Affiliate/Partner Links
Many cryptocurrency projects are developing affiliate programs to promote their products online, and this is really one of the most effective ways of online marketing. How does this work in practice? You spread information about a project in any of the most convenient ways listed by the affiliate/partner program, and you get bonus coins in exchange.
The most famous of such “traffic buyers” on the English-speaking market are convertoweb.com, cex.io, and coinbase.com, but there are others as well. In the Russian-language sphere, the most well-known are CryptoTab Affiliate and ActionPay.
What do you need to know? Before you start participating in a program, you should study the conditions well and compare them to other offers on the market.
To conclude, it’s worth highlighting that your online passive income, no matter what resource it’s based on, will become genuinely and stably high if you put more effort initially into launching your system. Having discussed cryptocurrencies and their profitability in terms of generating income, here is a link where you can quickly track the growth dynamics of all crypto coins: binance.com. For masternodes, try mnrank.com
And, of course, don’t forget about the great opportunity to use cryptocurrency for payments through the TeachMeCash system. Sign up now and be rich and successful as soon as tomorrow!