What are the best crypto-passive income options?

Passive income is a hugely popular concept at the moment because it involves very little work and can offer great income in return. Becoming a millionaire has never been easier in history than it is right now. How? By making your money work for you. To reach financial freedom it is imperative to develop multiple income streams and ideally passive sources that generate money even while you’re asleep. Below are the basics when it comes to making your crypto currency work for you.

Crypto Saving

Be a crypto-HODLer (Hold On for Dear Life) and make the most of your digital assets. Most of the crypto exchanges offer saving packages that are similar to a regular bank account but offer considerably better terms when it comes to rewards and interest rates.
Compare stable coins, which can offer annual interest of up to 10-18% against your local banks saving package interest which is about 1-5%. Which may even be lower than the reserve bank interest rate. Depending on which provider or app you choose, interest on cryptos can be paid on a daily, weekly, monthly, or yearly basis.

One key thing to remember if you are thinking long term. By diversifying the digital assets package you use for saving, you may benefit from potential price fluctuations.
As you may see below, the returns over the past 3 years for the following crypto coins are wild and this from the auto invest function on Binance.

Crypto Mining: Physical & Cloud

Crypto Mining is the major buzzword right now, just plug in your computer and start earning cash, the reality is far from this. The upfront cost can be quite considerable as you acquire the right tools needed to start mining a specific coin and due to the high power usage it can become a very unprofitable exercise. Further various governments are banning crypto mining facilities, so keep that in mind before investing in hardware components. Ideally utilizing reusable energies to keep the running cost low could enhance the chances of making a profit, but often that increases your upfront cost further.
Think out of the box in terms of buying second-hand parts, and spend a little extra time learning and configuring the machine.

Look for alternative mining solutions. Such as heatbit.com which is an amazing concept which aims to heat spaces by directing the waste heat from mining bitcoin into your house, this can reduce your heating bill, or even earn you income in the right circumstances. This can be further optimized by installing some solar panels and more and more innovative solutions are currently being developed such as Tesla announcing that they are working on a phone that uses the StarLink Internet and it can be used to mine crypto.

Think outside of the box look for coins that can be mined at a lower cost. One of them is Helium and the technology behind it is quite impressive. The mining equipment is a similar size to a wifi box and the mining approach has a lower power consumption than bitcoin meaning lower electricity cost.

Cloud mining is an easy and ideal solution for getting into mining without huge resources. There are loads of advantages to cloud mining. The provider is responsible for the maintenance cost, optimal running of the machines, upgrading hardware etc.
According to Shamining.com if you invest $10,000 in cloud mining you should expect around $21,000 after one year.


Crypto Staking
Put your coin to work for you. Various crypto coins are developed as a POS(proof of stake), this is used to verify transactions and validate them. For this reason, coins using this protocol can be staked for a particular period and create new tokens depending on the exchange yearly interest rate.
Some of the tokens that can be staked are:

  • Akash
  • Algorand
  • ApeSwap Finance
  • Avalanche
  • Binance Coin
  • Cardano
  • Cosmos
  • Dai
  • EOS
  • Ethereum
  • Flow
  • Hydra
  • Kava
  • Kusama
  • PancakeSwap
  • Polkadot
  • Polygon
  • Solana
  • SushiSwap
  • Terra
  • Tezos
  • USD



Crypto Affiliate
Tell your friends and family. So you can earn bonuses and rewards. Do test the methods first and based on the results obtained you can help others. The crypto universe for many is strange and difficult to understand. However, once you start researching and investing in it. You can develop skills that can be useful for others too. Plus the more users you refer you may earn passive income when they are trading.