Good evening folks. So I have been looking into the potential of passive income from cryptocurrency, and NO I am not talking about a lending platform. I will never fucking touch lending platforms, especially since seeing the crazy shit that happened with bitconnect.
So I have been looking at 2 avenues for potential passive income:
1). Staking cryptocurrencies
Now proof of stake cryptourrencies are an interesting proposition, but require 2 things. Firstly, they require you to run your computer for long periods of time (as much as possible) to participate in staking a block. This can be a problem for a couple of reasons, firstly, your probability of staking is based on your weight within the network, e.g: how many tokens you hold. The more tokens/coins you hold, the more likely you will be to have a block staked with some of your currency. This requires you to be in the position of holding or having enough capital to buy and hold a currency. It is different for every staking coin, but if you hold a large amount of the coin then you will find the blocks quicker and more often than someone who has a very small amount of holdings. The second thing that staking requires is PATIENCE. You are not going to see significant gains, but the gains you will see over the course of a year will be about 5 or 6 times what you would get in a bank. A problem within the culture of the cryptosphere is that many people are chasing the 100x, 50x or 10x gains. If you have patience there is profit to be made. If I told you that if you give me your money for a year, I will hold it and when I give it back to you, there will be another 5-7% added on, you'd be chuffed. So stop chasing the imaginary fortune and be fucking sensible! The following link can provide you with some insight about the gains that can be made from staking (this article was written in January, so the information may not be as accurate as it was then): https://coinsutra.com/proof-of-stake-cryptocurrencies/
2). Airdrops
Now, airdrops are very interesting to me. They are an opportunity to get in on the ground floor of numerous projects. They are speculative by nature because they are almost all worthless presently, but if any of them have some significant gains, you could make a killing with no initial investment required. Airdrops are predominantly used to get a project or currency moving. Most of the time, the purpose behind them is to get people looking at a projects potential, utilising the tokens or trying the platform out. Currencies that offer this hope that this will entice consumers to give the product a go. If the product turns out to be good, it gets people moving and the currency gains traction. Airdrops require very little from you, other than an email, a comment on a message board and your KYC info. The reality is you can stay informed about these incredibly easily. There are a few different ways: airdrops.io is an excellent site that gives you the most up to date information on all the upcoming airdrops. I personally prefer the telegram group Crypto Airdrops, where they give you daily updates on airdrops with direct links through airdrops.io
I personally have begun doing airdrops fairly recently, but am enjoying accruing currencies without investment, and saving my capital for the projects I value (such as; Icon, Aion, Neo, Quanstamp to name a few). One I have recently participated in is Swarm. Swarm are currently airdropping 10 tokens to anyone who signs up to their website and provides KYC info. Now Swarm tokens are currently only worth $0.21, but 10 of them earn you a couple of dollars. It isn't life changing money, but it is a step in the right direction financially. When you participate in 3 or 4 of these different airdrops a day, your daily income becomes around $10, for very little effort, and if you hold them and the currencies gain value, then financially your circumstances improve a hell of a lot. I do like the potential for airdrops. Even PRL are doing airdrops. Tomorrow, I think. Established coins often do this and it is worth spending a bit of time doing your own research into these because it may be a nice boost to your passive income earnings. Though I will admit, its not totally passive.
Here is a link to swarm, if anyone wants to try some of these airdrops, It may be worth it as a trial run to see if you can be bothered. Full disclosure, I do get an additional 5 Swarm for every person that registers using my referral, so this isn't a totally selfless article: https://invest.swarm.fund/r/GC5XB4RZXBB3SSCKKLLFW5OU6NKW2SSXIMNQ5EJJ3UZUXJETN4IKBPOJ&en
I hope those of you reading this found the information interesting or useful. Don't forget to tip your author, like and follow.
Happy cryptohunting.
Kind regards,
Greatmb