Common Ways to earn passive income with cryptocurrency
Want to know how to grow your cryptocurrency earnings with minimal efforts?
Trading is one way to make money in the cryptocurrency industry.
However, making profits from buying low and selling high is definitely not a wise strategy for amateur investors like you and me.
Despite spending countless hours learning the ins and outs of trading cryptocurrencies, keeping up with everything that happens in the rapidly evolving crypto market, there’s no guarantee you’re going to make a healthy return.
You can combine a few methods to build multiple automatically-recurring revenue streams like :
Yield Farming: Stake Your Crypto Earn APY: Lending out your cryptocurrency for interest is completely passive.
It’s suitable for long-term investors who’re committed to holding their crypto and want to increase their crypto holdings without extra effort.
Staking: HODL in an online wallet to Earn Rewards Staking is a straightforward and simple way to earn rewards. Simply hold the cryptocurrency in your wallet and you’ll be rewarded for doing it.
If you don’t already know, Staking is a process of storing funds in a crypto wallet to support the operation and maintain the security of a blockchain network.
Running Masternode: Host a Dedicated Server to Earn Rewards.
If you’re a techie who’s serious about staking, you may consider running masternodes of cryptocurrencies.
Masternode is basically a cryptocurrency full node or computer wallet that stores the entire copy of the blockchain’s ledger in real-time.
By keeping your wallet up and running 24/7 to maintain network stability and perform tasks, you’ll receive crypto as a reward.
Mining
Unlike staking, mining doesn’t require you to have cryptocurrency holdings.
By mining, you can earn Bitcoin and other cryptocurrencies that use a proof-of-work system -without having to put down money for it.As a miner, you will receive Bitcoin as a reward for verifying transactions on the blockchain.
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