Is passive income possible in crypto?
The answer is definitely YES. Most people know about investing in a company, where they buy shares and get dividends. There are also cryptocurrencies that are like that or similar.
The only difference is in cryptocurrency is that it is accessible to everybody and you can do it on your own without any broker.
However, cryptocurrency is a lot volatile comparing to shares or stocks.
- Very accessible – anyone can invest in it without having to use a broker or any legal documentation. (This varies from country to country and most exchanges require a KYC Know Your Customer)
- Affordable – you can invest as little as you want as long as it can cover some of the fees, like for example, there is a fee at an exchange such as Binance if you buy and sell your cryptocurrency there.
- No Limit – you can invest as much as you can afford.
- Very easy to sell – if anytime you decided you want to sell, you can just sell it to any exchanges that have that cryptocurrency.
- High Volatility – you could double your money or even 100x your initial investment in a short period of time.
- Lose your money due to hacking – if you are not careful, a hacker might be able to steal all your cryptocurrency. This is why you need to learn how to protect your private keys or if you can afford it, buy yourself cold storage like Ledger Nano or Trezor.
- Lose your money due to Exchange closing down – Some exchanges, especially the unknown ones get closed down or what they call it an “exit scam”. Mt. Gox exchange is the most known exchange that closed down and left most of their users unable to get their crypto or money back.
- High Volatility – The riskiest part of being in a cryptocurrency is that it can drop its value in a very short period of time.
Investing in the cryptocurrency have a very high reward but it also comes with a high risk. We can minimize that risk so that our investment will reward us in the future.
- Research Research Research – Please do some extensive research on a cryptocurrency that you are planning of investing in. Have a look if it has a long term future and growth.
- Protect Your Assets – You might have heard this all the time “Not your private keys, Not your crypto”. Make sure you put your assets in safe storage like Ledger Nano or Trezor. Make backups of your private keys and to protect your private keys. If it is possible do not leave your assets in exchange. If you don’t have cold storage, a wallet app like “Trust Wallet” is a lot better than an exchange.
Passive Income In Crypto
Bitmax Token (BTMX)
If you want to know more about Bitmax, you can read my review on Bitmax.io here https://pinoycrypto.com/dont-miss-out-on-bitmax-token-btmx/
Bitmax Token (BTMX) is the native crypto token of Bitmax.io exchange.
You can earn daily rewards in USDT by putting your BTMX in lock up. You can always unlock it anytime you want if you decided to sell it for profit or something.
Below is an example of what reward you might get. A 5,288 BTMX was getting a daily reward of 0.35 USDT and an 18,825 BTMX was getting a daily reward of 1.24 USDT.
You might be thinking, only 0.35 USDT per day. But that 5,288 BTMX was bought on the 2019-03-14 at a price of $0.06, a total of $317.28. This was sold on the 2019-03-26 at the price of $0.34, a total of $1797.92. A very good profit of $1480.64 (1797.92 – 317.28 = 1480.64)!!! NOT BAD RIGHT.
Join Bitmax.io Here.
KuCoin Shares (KSC)
Kucoin Shares (KCS) is an exchange based token and native currency of the Kucoin crypto exchange. Holders of the token are able to reap the rewards from the success of the exchange as 50% of its overall trading fee revenue is shared with holders through the tokens. Rewards, received in the form of dividends, are proportionate to the amount of Kucoin Shares one holds.
Go to https://kucoinshares.com/ to calculate how much you will earn from the amount of KuCoin Shares you are holding. On the example below, we put in 100 KCS as the amount we are holding and the daily bonus/reward we will get will be 0.02773 KCS per day.
Neo (NEO) & Gas (GAS)
NEO is a top 20 blockchain that pays you another token called GAS just by holding NEO. Make sure you hold them in your own wallet or the exchange may not pass on your GAS.
Gas is a token created on the NEO blockchain platform with the primary purpose of being fees for processing transactions on the NEO network.
Go to https://neotogas.com/ to calculate how much Gas you will earn from the amount of Neo you are holding. On the example below, we put in 100 Neo as the amount we are holding and the daily Gas reward we will get will be 0.0255 GAS per day.
VeChain (VET) & VeThor Token (VTHO)
VECHAIN (VET) is a top 30 blockchain that pays you VTHO just by holding VET. Once again put them in a wallet otherwise you may not receive your VTHO.
VeThor Token (VTHO) is a cryptocurrency token and operates on the VeChain platform.
Go to https://thorcalculator.com/ to calculate how much VTHO you will earn from the amount of VET you are holding. On the example below, we put in 100 VET as the amount we are holding and the daily VTHO reward we will get will be 0.042 VTHO per day.
Ontology (ONT) & Ontology Gas (ONG)
Ontology (ONT) is another top 30 blockchain that pays you ONG just by holding ONT. Once again put them in a wallet otherwise you may not receive your ONG.
Ontology Gas (ONG) is a Cryptocurrency which is distributed by holding ONT in your wallet.
ONG is used to fuel transactions on the Ontology blockchain.
With each ONT Block getting generated, ONG will be distributed to all ONT holders.
Go to https://ontcalc.com/ to calculate how much ONG you will earn from the amount of ONT you are holding. On the example below, we put in 100 ONT as the amount we are holding and the daily ONG reward we will get will be 0.0432 ONG per day.
This is not financial advice or investment advice. Everything we cover here is my experiences, opinions and what I would do. Please do your own research.