$10,000/month is too easy with 5 ways to earn passive income with crypto in 2022.
Crypto is slowly becoming mainstream. And everyone wants to make money. So that is why the topic of “generating passive income with crypto” is very popular in the crypto world today.
You have cryptocurrency in hand. And you want to earn extra income from your virtual currency. You don't know where to start or are looking for new channels to invest in, then this article is (perfect) for you.
The special thing is that you don't have to put in too much effort. Instead, you need to make smart choices when starting out.
Let's explore and save these 5 quick ways to have a passive income of thousands of dollars per month!
Community Liquidity Staking
Staking is holding a certain amount of cryptocurrency in the electronic wallet of a Blockchain project for a certain period of time to receive rewards. The reward that the investor receives depends on the number of coins and the time of the bet. It is an alternative to the role of a cryptocurrency miner, and this is the purest way to mine passive income from cryptocurrencies.
Community liquidity is a new way of operating in the crypto world, but being evaluated as a direction with high potential in the future in terms of profits with a high level of safety.
Community Liquidity Staking
How does this income work?
Its Coin staking mechanism is quite similar to you getting interest when you keep money in a bank account or deposit it in a bank for investment.
The reward you receive depends on several factors:
Minimum amount of virtual currency required to make a deposit in order to gain passive profit from the bonus.
Minimum (initial) holding period before receiving the first deposit bonus.
Time to wait for the coin to "grow".
The period during which you cannot withdraw your bet is called the account lockout period.
The expected annual rate of return earned from the bet currency, known as the staking bonus. It is important to understand whether this is a fixed, variable or guaranteed return.
Staking Adene Nft Slot Machine - The wisest choice for your pocket.
A.P.Y per year of the Adene slot machine.
Each NFT slot machine is unique in terms of graphics and functionality. Slot machines require liquidity to operate. The size of the bet and the probability of winning the jackpot also depends on the size of the liquidity. These slots can be operated to earn 60%-200% APY per year according to online casino data by Ben's (Co-founder Adene). The ODDS of the slot machine is encoded into a smart contract using Chainlink VRF to maximize the transparency of the RNG.
How to invest?
The community can contribute their liquidity to different slot machines to earn a profit sharing source of income (usually 80% for stakeholders and 20% for operators).
This is exactly the mechanism that the Adene slot machine conventions for in their white paper.
Profit math practice
Let's say I am the one who minted a slot machine, and you are the investor that makes this slot machine work. According to the 80-20 mechanism. Then 1 year profit I will get 20%, and 80% profit will be yours.
The 1-year profit of a slot machine according to research is $60,000. This number can increase as more players become available.
After 1 year, with 80% interest, the amount you will receive is:
80% * 60,000 = $48,000/year
If you start from 5 slot machines, the amount will be 5 times.
48,000 * 5 = 240,000 USD/year.
A number that seemed to be just a dream but has now been realized by the Adene slot machine.
Cloud Mining
Cloud mining is the use of 3rd party cloud computing power (cloud mining service provider) to mine cryptocurrencies. This is a reasonable choice for newbies who do not have much knowledge and in-depth understanding of the virtual currency field. However, you also need to invest some time. And this technology will bring you more benefits and cost savings.
Cloud mining
What is the interest rate?
Interest rates will depend on a number of factors. First of all, you will need to consider your daily expenses and expected rewards. The most optimistic investors claim that with a $2000 investment, they can earn around $100 daily mining at 14.33 Th/s for Bitcoin. However, this strategy can be more profitable based on the amount of cryptocurrencies mined and the costs involved.
Shamining - The most potential cloud mining platform today
17.000 users is the number that the platform has accumulated. It is an attractive platform, as evidenced by Shamining offering an additional 37% of the crypto mining rewards to new participants.
Currently, Shausing's rate of return is between 143% and 156%. For $5,000 per year, expect to earn $890/month (including additional bonuses). This is the best offer in the cloud mining industry that you can refer to. In theory, you could have a passive income of $10,860 per year using it.
Yield farming
Increasing profits is a way of making passive money with your own cryptocurrency. By lending your money to others through computer programs known as smart contracts. Your job is to move your crypto between different lending markets to maximize your profits.
In other words, interest rates will be different in different DeFi platforms. Therefore, you should try with many different platforms to get the best option for you. Besides, it also depends on the amount and time you deposit (it's a strategy you have through practice or self-study).
Yield farming with crypto
How much profit?
Profits are quite difficult to estimate accurately. Because Yield Farming is a highly competitive and fast-paced market. So rewards can fluctuate quickly. If a profitable mining strategy works over time. This will cause more people to follow this strategy. From there, profits can be reduced.
Crypto.com - Best Yield Profit Farming Platform to Earn High APY on Stablecoins.
This is considered the most stable platform as you won't have to worry about price spikes. The platform will likely let you earn up to 14% APY for depositing stable coins like Tether and USDC to your account.
For example: To earn 14% APY on Tether. The condition is that you need to lock your tokens for three months. You will also be required to stake no less than 40,000 CRO tokens.
On the other hand, APY will drop to 6% when you deposit Tether without depositing any tokens and on a flexible withdrawal basis. Therefore, Crypto.com is the platform that gives you many options.
Crypto lending
Crypto lending is a form of lending. This means you use your property or money to lend to others. And you will get back the principal and interest as agreed between the two parties as agreed in a period of time. You are the lender and other users, or other exchanges act as the borrower.
How is profit calculated?
The interest rate will vary based on the project you are working on and the currency being lent. Currently, however, the typical yield of many cryptocurrencies varies from 3% to 8%. It is also expected that for stablecoins, the rewards could be higher. Users can expect 10% to 18% interest on those.
Crypto lending
BlockFi - Leading Cryptocurrency Platform.
This is a crypto lending platform for people with a lot of cryptocurrencies. For example, an investor has 10 Bitcoins and wants to use his BTC as collateral for a car loan.
BlockFi requires loans to be decentralized. For example, a $50,000 loan on BlockFi would require at least $100,000 worth of ETH or BTC. And the minimum loan amount on BlockFi is 5000 USD. Of course, the platform is also paying interest on electronic deposits to depositors at a fixed rate depending on the coin.
Dividend-earning tokens
Dividend earning tokens are said to resemble the stock ownership system in a company. The system will reward project backers with dividends based on company profits. These rewards will of course also depend on the contribution that the user has made to the company.
How much profit?
Like all other strategies, some participating companies pay more than others. This is why it is important to make wise choices based on research. Some of the backers of these projects can receive a dividend of up to 30% per year based on the amount invested (normally the return will be 20% if you do your research and make wise choices).
Dividend-earning tokens
Lucky Block - Cryptocurrencies bring big profits.
With Lucky Block (LBLOCK), just three weeks after its launch in January 2022, early investors have made quite a profit.
Lucky Block acts as an NFT Competitions platform and it provides users with the opportunity to receive rewards simply for owning Lucky Block NFT.
Lucky Block is currently eligible for large centralized exchange listings. This will eventually lead to huge price increases. In fact, Lucky Block is now listed on the LBANK exchange and you can claim your $255 USD bonus by registering on their platform.
Conclusion
Idle Cryptocurrencies provide a lot of opportunities for you. So don't let it go to waste while it generates a sizable profit for yourself. The important thing now is that you just "act".
In this article, we have listed 5 strategies to earn passive income with your own cryptocurrency. These 5 ways are useful for both new and experienced users.
Each way to earn passive income has its own interesting points. You understand it and you invest, you will surely have a stable monthly income.
The most profitable choice.
Currently, according to analysis, the Adene Staking slot machine is the way that you can make the most and easiest profit with a profit rate of up to 200%/year. Adene may be a fairly new platform when it's been out for just over a year. With a novel business model, Adene is considered a platform with growth potential when it continuously receives support from investors. A good example is an investment of 1.1 million euros from a German investment fund.
Get started if you want to earn passive income now.