There are multiple ways to passively earn in this space. This page offers some education on just a few of the many options available.
There are a few companies now offering you a yield on your holdings. Make sure you thoroughly investigate any company before trusting them with you coins. Nexo, BlockFi, and Crypto.com are some that you are most likely to see advertising from. One innovative company that gives their profits back to their community rather than pay for advertising or listing fees on exchanges is Celsius. It’s Alex Mashinsky’s latest business and is rapidly growing a loyal following. If you’ve ever made a voice or video call using the internet you can thank Alex for making that possible. He is now running Celsius which is giving 80% of it’s revenue back to the community with better than bank rates on your crypto. If you want to learn more about what they offer they have a great help centre with most of your questions already pre answered. Send me a message on twitter if you want to check if they have any current special promotions running. Otherwise check their current rates on their site or download their app from your app store. At the time of writing this if you sign up using my code 172371333f you can get $20 BTC (after 30 days) with a deposit of $200 USD or more (about $300 AUD).
Ftx are just one of the many exchanges now allowing you to earn yield with them. Binance also do this as do many others. Check their rates and fees before depositing your coins and watch out for lock up periods.
eToro is a global market place for people to trade cryptocurrencies, forex, commodities, indices, stocks and etf’s online in a simple, transparent and enjoyable way.
They empower over 6 million users (only about 10% have funded accounts) in more than 140 countries worldwide to manage their funds through their innovative online investment platforms and active trading community.
You can copy other traders (check their individual minimum copy recommendations) and passively see your account grow as theirs does, just remember they are human and could lose money too so do your research. You can check traders current portfolio as well as trading history if their profiles are public, (you can keep everything private).
You can also copy a copy fund (minimum $5,000USD) they are designed to act just like a fund manager, with some copy funds showing double digit returns.
If you know what you are doing place manual trades. Perform well enough and you could soon see yourself being copied.
And then there is the social aspect allowing you to publicly discuss the different markets and your thoughts with other traders, Etoro isn’t your usual trading platform.
Though POS (Proof of Stake) by holding some coins and staking them you can earn a reward. All coins have a different reward rate and some wallets for staking are easier to set up than others. Once you learn how to, you’ll be able to teach others as we see this space grow. Keep your private keys safe and secure.
Another way to earn passively is through mining. You could shell out millions setting up your own mining farm and the ongoing costs to run it or you could join one already in operation. There are lots to choose from all with different risk to reward metrics. Make sure you do your research. As this space is always evolving if you’d like to learn more about some of the options I’ve researched contact me so I can help further educate you about mining.
There are lots of platforms offering returns on your money. In recent history we have seen lots of these fail. I cannot express any more clearly than this DO NOT RISK WHAT YOU CAN’T AFFORD TO LOSE. I’ve heard too many stories of people gambling their life savings due to the advertised returns or worse still taking out loans. Nothing in this space is guaranteed. Although Bitcoin has now been around for over 10 years we are still in the early stages of adoption and regulation. As this space is always evolving if you’d like to learn more about some of the options I’ve researched contact me so I can help further educate you about platforms.
* Cryptocurrencies are a new asset class. Due to their new nature they are volatile. Don’t be greedy.
* All trading involves risk. Only risk capital you’re prepared to lose.
* Past performance does not guarantee future results.
* The content of this page is intended for educational purposes only, and shouldn’t be considered investment advice.