For many, earning money with cryptocurrency sounds extremely complicated and time-consuming. Too often, examples are shown in which real experts day trading for hours or buying ICOs. There are also numerous ways to generate passive income with cryptocurrency that requires little time and effort. We present a few of the best-known examples in this article.
Passive income with cryptocurrency
Not every method of building passive income with cryptocurrency is equally time-consuming or complicated and promises the same success. There are certainly a lot of other methods, we just want to give you a little insight here. Then you should try out for yourself what amount of effort you are willing to invest and how satisfied you are with the outcome.
Exchange Coins
The principle of exchange coins is one of the procedures for which almost no effort is required. If you own crypto currency such as Kucoin or Binance, you can make a profit with the help of the associated tokens. You can use these tokens to participate in the fees that arise for exchanges and withdrawals, as a low percentage rate is usually paid to the token holder. The amount of this rate is of course dependent on the amount of tokens you have.
Dividend Coins
Dividend coins are a low-risk way of generating passive income with cryptocurrency, which also requires little effort. Because here you can get dividends paid out in the form of other coins by holding original cryptocurrency. The amount of old coins is set in a certain ratio to the new coins. After all, the new coins are often used to pay fees in the network. The old coins are then used as equity.
Staking
When staking, you also receive rewards for simply holding coins. Because in this way you help the network to secure itself by keeping your coins away from the sales market. In return, you will participate in the profit through mining fees and in this way you can build up passive side income without doing much.
Airdrops
The Airdops procedure is a little more complex than that of the procedures already presented, but at the same time it promises variety.
Many block chain startups are trying to gain a foothold in the highly competitive market by increasing their awareness by giving away small amounts of tokens. The tokens usually have a small value and are usually less than 10 dollars, but with a little luck and betting on the right project, they can quickly develop from them. In return for the tokens given, the startups often do not ask for more than the fulfillment of a task in the social media business, such as sharing a tweet.
If you take part directly in several airdrops, you can build up a promising additional income that requires little effort and has tasks that can be carried out quickly.
Referrals
The principle of referring friends is already well known and has not stopped with cryptocurrency either. Many websites such as Binance have developed programs in which you receive a reward through referring users. This is usually paid out in coins that are traded on the exchange. Some systems work with fixed amounts while others have set a percentage rate as a reward.
However, with the “referrals” principle, it should be noted that passive income can usually only be generated with cryptocurrency here if you can already refer a considerable number of users, e.g. by calling up your followers to use them.
Passive income through a web project through Projektify
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We are also happy to advise you with our regular blog articles on various topics relating to online business and the management of web projects. We focus particularly on the topics Part-time self-employment , insolvency and Corporate succession . So feel free to read through our other articles.
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