Is passive income the best way to make money from crypto?

[Suba]

Of course, each person's answer will be different or depend on each person's risk profile, risk tolerance and personal preferences. In the crypto world, there are many ways to earn passive income such as: staking, running crypto node lightning. liquidity mining, crypto lending, Play-To-Earn (P2E), crypto savings accounts, dividend earning tokens etc. All types of crypto passive income have almost a stable income over time and require little activity or involvement compared to trading. Crypto passive income will be very beneficial for long-term investors while waiting for crypto prices to skyrocket.

 

[Starmix]

I agree with you, crypto holding is one best option for a passive income. I hope to invest more on crypto.

 

[King Belieal]

Staking is my favourite way to earn passive income from crypto. And I have really earned some substantial extra funds just for holding my crypto.

 

[Suba]

Some crypto users prefer to make passive income by staking crypto, which is easier and safer, we can stake crypto on trusted exchanges or in personal wallets.

 

[Suba]

Trading in crypto currencies is risky for those who have less experience, knowledge and do not have the time to do their research. So staking crypto remains the best way to have some passive income.

Crypto trading is not passive income but active income because we need to work hard to monitor prices and carry out various analyzes both technical and fundamental.

 

[riberet19]

For my taste, no, I think the best way is to invest for the long term in projects with good fundamentals, although it is becoming increasingly difficult to identify them due to the amount of misinformation, scam projects and countless projects that serve no purpose in the market.

 

[codescript94]

I agree, passive income with cryptos requires a lot of patience because it takes time, it is necessary to have a slush fund so that a person can be successful in this type of business if they do not spend all the money invested.

 

[kerryjoy]

yeah, passive income generation is the best for crypto

 

[Augusta]

You can invest passively by crypto holding you buy low and hold to sell high. I hope to invest more on crypto.

 

[King Belieal]

Crypto trading is not passive income but active income because we need to work hard to monitor prices and carry out various analyzes both technical and fundamental.

Trading crypto is not a passive income stream. It seems people always confuse it with holding and staking which are active income streams.

 

[Suba]

Trading crypto is not a passive income stream. It seems people always confuse it with holding and staking which are active income streams.

If we only hold crypto, it means we don't make any returns, so we also need to activate the Earning feature on the crypto exchange so that we will get interest like a bank deposit.

 

[Fidelia]

For me, I believe that staking to earn passively is safer than trading at a risk of incurring monumental losses.

 

[Suba]

For me, I believe that staking to earn passively is safer than trading at a risk of incurring monumental losses.

If you like staking crypto to get passive returns, this means you have to own coins that implement the PoS consensus system mechanism, such as Solana, Ethereum, ADA etc.

 

[Fidelia]

If you like staking crypto to get passive returns, this means you have to own coins that implement the PoS consensus system mechanism, such as Solana, Ethereum, ADA etc.

Does this mean that someone cannot stake bitcoin or BNB. How do we know coins that have a PoS consensus?

 

[Suba]

Does this mean that someone cannot stake bitcoin or BNB. How do we know coins that have a PoS consensus?

Every crypto has an official website, on Coinmarketcap it is also shown like Bitcoin. If we visit the Bitcoin white paper, we will find that the system used by Bitcoin is PoW, so Bitcoin cannot be staked. You can stake crypto on coins such as BNB, Solana, ADA, Tron, Ether etc.

 

[Stardom22]

As far as l am concerned, the passive income through the earning for the cryptocurrency is indeed very profitable Idea for both of the sides.

Post automatically merged: Aug 20, 2024

I think that depends on the type of the exchange or wallets that one may be using. I think some exchanges allow allow the staking of some coins that other exchanges like Binance don't for instance.