Passive Income
Passive income is the holy grail of money making, and the one thing most people cannot easily achieve. Whether it be writing and selling an eBook, or owning real estate, generally speaking, traditional forms of passive income aren’t that passive. They require large amounts of time, for a mediocre reward.
If you’re tired of the same-old passive income suggestions and you’re looking to make a little crypto, I’ve got five suggestions for you to try out.
1. Put Some Money in Exchange Coins
CoinEx's token (CET) is a super easy way to make a little extra money on the regular. The idea is simple — you buy their token, lock it up for a period of time and they share a portion of their daily transaction fees with all CET holders, proportionate to the amount of CET you hold. CET holders also receive airdrops from coins listed on the exchange. KuCoin Shares (KCS) is another great example of this model. I wrote an article about it here. KuCoin Shares
2. Proof-of-Stake Mining with Decred
I’ve been in Decred since the very beginning. I got most of my tokens from their airdrop, and I’ve been proof-of-staking since earlier this year. If you have some crypto-profit you’re looking to easily grow, this is a great place to do it.
Decred POS is almost like earning interest in a traditional bank. For perspective, I earned 49 DCR last year from POSing, (Note: this option may have the highest bar of entry of this list. I’d recommend seriously looking into this option if you’ve been in crypto for a while and have a decent amount of profit you’re looking to diversify.)
3. Delegated Proof of Stake with ARK
I stumbled onto ARK a few months back and have been “delegated proof of staking” with it since day one.
The beauty of delegated proof of stake is that it works 24/7, and requires virtually no effort on your part. Once you setup your account and cast your vote, your ARK works for you. You’ll get a payout every so often through the person you voted for, as a reward for voting for them.
Each person running a node has the chance to bribe you for your vote, so do your research, pick one that has the best benefits, and watch the profit start rolling in! I found this article to be a helpful technical explanation, and this was a helpful walkthrough.
4. Earn GAS with NEO
This little crypto passive-income trick may be the most simple out of all of them. NEO was designed so that, when held in the native NEO wallet, it automatically generates “GAS,” the token that runs the network.
To receive your GAS, all you have to do is move your NEO off of any exchange, and into an official NEO wallet. Note: some exchanges, like Binance, automatically credit your GAS to your account, but be aware that you don’t hold your private keys with Binance.
5. Masternodes
Masternodes are in a way similar to PoS coins however they usually require quite a hefty amount of collateral to get up and running. Most people run their masternodes on VPS's which is another cost to factor in. There are a huge amount of masternode coins and I'm going to be honest quite a few of them are horseshit. So you are going to have a bit of research to identify which one sounds good to you. I'll leave a link at the bottom of the article for searching for masternodes.
Conclusion
So there you have it. Six quick ways to start making a little crypto. If you found this article to be helpful, please hit the upvote. Links to all the resources mentioned are below