This is a small guide of how you can have passive with your crypto and how to use it in your everyday life.
Obviously, this is not the only way, it is my way, according to my preferences. And of course, this is not financial advice, it is a demonstration for educational purposes only.
I am using a platform that we all know and that is Binance.
There, under the Binance Earn, you can stake certain coins as you can see in the screenshot.
DOT and 1INCH have very good rates, plus you get the benefit of two very hot projects that are sure to gain many Xs in the current bull market.
Another plus is that you get paid every day, not once a month or when the lock period ends. You can also set it up so that the daily earnings go to a savings account and if you don't want to sell them every day you get an additional small interest.
This way you get have your crypto work for you until you decide to sell them for profit.
But how you can spend these earnings?
Enter Binance Card. Binance Card is a Visa Debit Card you can use to pay whatever you want with your crypto.
You go to the wallet menu and click on Card. First, you have to create a digital card and once you do that you can use it to buy stuff online.
Then you can order the physical card, which takes 3-4 weeks to arrive. At least this is how it took to get to Athens. When it arrives you register it and you are good to go.
And there is an extra feature which is cashback, depending on how many BNB tokens you have staked in the platform. I had some BNBs from 2017 bought some more and now I get 3% cash back on every purchase I make with the card.
I have no problem using the card in my everyday life. With it, I pay for my coffee, my groceries, my supermarket, restaurants etc. It works contactless and it takes 3-4 days to have the cash back.
Not the only card around, but it suits me since I use Binance a lot.
So, here is it...
If you have other ideas, suggestions I am happy to hear.
And until passive income covers all of our expenses...
Be Healthy and Smile!!!