After a few years in crypto we should all have some type of money tree printing money daily. If you haven't then possibly you are doing something wrong.
The idea that one can grow their crypto bags large enough to one day generate a livable monthly income is something I have been trying to create for the last couple of years. Saying this is a difficult task is an understatement because this is the holy grail of income sources that people spend their lives trying to create.
Most of us have this knowledge in abundance being involved on Hive and we need to put it to use across our entire portfolio where staking is permitted. The knowledge we have gathered over the years is not normal knowledge you can just learn and this is what sets us apart from other investors in crypto. The ability to grow via staking is where the real wealth is made and we shall see how much the last 4 years will bring when we see the new all time highs next year.
Hive is an obvious income stream for what it offers especially when you look around and compare. The hope is that Hive one of these days it will become more mainstream with millions of users interacting daily. Next month I would have been on Hive for 6 years and I am still not comfortable enough with the wallet size and still consider it small to medium sized. This could soon change if the Hive price was to reach $1 but is still not regarded as an income, but a passive income more like pocket money.
A good example of how quickly things can change is with my COTI stake which until last week was generating around $75 monthly. This week this figure has risen to around $240 which is still a small number when we are considering incomes. This is more like a top up for a pension which would then be still regarded as decent.
I do expect the COTI number to still change drastically over the coming months and why even though the price has done 6 x over the last 6 months I am still adding to the stake. There is no thought of selling it currently because stake generates more stake and the talk of possibly a $6-$10 COTI in the near future. These numbers would generate on the current APR anywhere between $5K and $10K monthly which is where I have my crypto income goal set. If COTI can generate this figure on it's own then I consider myself rather lucky for selecting the right investment.
We have to consider what the world economy will look like in the next 10 years and from my viewpoint it doesn't look so great. Jobs will slowly decrease due to robotics and artificial intelligence whether we like it or not. Yes other opportunities will open up due to this, but this will leave many unemployed.
Having other income streams away from what is considered normal is what is going to divide those that have and those that don't. Being able to generate an income from new technology like crypto will be game changing in many ways because this is not considered being part of the regular financial income structures. This literally means you can bypass the institutions that control the masses and become your own online bank if need be. Governments are fearful of what type of independency this would offer because you are now earning outside their controls.
Crypto as we know it is borderless so whatever online income you are generating can be obtained anywhere in the world as long as you have an internet connection. My goal of creating a $10K monthly income is still a work in progress, but truthfully believe it is achievable as long as you dedicate the time required to make it happen. Invest wisely into proper projects and do not gamble with your selections because this is high risk whether you end up having a proper monthly or a passive income stream.