Passive income, or making money without actively participating in it may seem like a dream, but it’s possible.
If you’re just starting out in the fascinating world of cryptocurrency, this is the perfect starting point- you can combine the two of them and make money online via cryptocurrency.
Join an Affiliate Program
Affiliate marketing is nothing new- it’s been around for as long as the internet became mainstream.
Still, affiliate marketing is one of the best ways to earn money online. It can also be turned into a passive income- just spend a few hours per week creating content to draw traffic and people who will want to try cryptocurrency.
Aside from making a website you can market on social media or on YouTube. Aim for reputable crypto businesses that offer good rewards so you won’t be wasting your time.
Sign Up on a Crypto Lending Platform
Financial institutions make money by lending money and charging interest for it. You can do the same with P2P lending companies, to which you get the interest that comes with helping others.
These platforms work like a cryptocurrency exchange website where you can sign up for an account. Deposit the cryptocurrency you want to lend to others, then wait until there’s a person who needs the money. Afterwards you get more than what you started with. Rinse and repeat, then invest in other passive income methods.
Trade Bitcoin and Other Popular Cryptocoins
Trading is a time-honored money-making method that’s been used for decades. It started with the stock market, but now it’s become more accessible thanks to crypto exchanges, which work similarly like Wall Street.
The mechanism is the same- you open an account, deposit money and pick the cryptocurrency of your choosing. Then, you wait until the time is right and when the prices of the cryptocurrency is up before cashing it in. The passive income you get can be converted into other crypto coins, Bitcoin or other endeavors.
Even beginners will be able to trade cryptocurrency like a pro. Follow 1K Daily Profit and you can learn from the experts regarding the ins and outs of crypto trading.
Mine Cryptocurrency with a Computer
Bitcoin began life as a novel digital token that had very little value. People could ‘mine’ it, or solve complex mathematical processes and get rewarded with a bit of coin as a result. The hardware required to begin mining usually required a powerful processor and graphics card.
Technology and cryptocurrencies have evolved to a point that you don’t need a high-end machine to mine them. For instance, you can add an extension to your browser, an app on your smartphone or even play a game and get rewarded with cryptocurrency whenever you complete a mission or a milestone, for example.
However, since it’s passive income we’re talking about then letting your computer run as you go to work or complete daily tasks is the way to go. At the end of the day you get X amounts of crypto coins, which can be exchanged for fiat money.