Bitcoin Forum

I go over some of the top methods for earning passive income with cryptocurrency, and naturally, mining is leading the way -- to be more specific mining altcoins is normally the best course of action for someone starting up because of sha-256 ASIC mining

https://www.youtube.com/watch?v=hUVXtOwUihA
https://i.imgur.com/EsE48kFl.png

Didn't you do a video like this about a year ago when mining wasn't profitable anymore? I remember you telling people to stake instead.

I haven't had time to watch this video so I don't know if it has more ideas this time but I am assuming its talking about staking.

The issue with staking and running masternodes is that you are paid in the alt-coin, and that alt-coin value can drop with respect to Bitcoin or Fiat, so its not really considered passive income since you can lose money.

Like I said about a year ago, the only way to make passive income on Cryptos aside from mining is lending out your cryptos. You can lend them on Bitfinex and you get a decent rate for your BTC, ETH, Tether, etc.

Trading is not considered passive since most will lose money that way.

By the way, cool E30 M3 shirt.

MAY I ask. Are these crypto lending platforms really for real? I mean they ain't scammy right?

I am asking this question because I actually intended venturing into a business like that. Who knows maybe I can actually make a few profits, cos I have lost so much already in 2018.

Bitfinex  was hacked  and kind of paid off  the debt.  So you are very vulnerable to hacking.


@ op    by USA tax law mining is not  passive income it is active.  I do not know any laws in other countries.

You might wanna add 4th like the dividends project. There are several of them these days. I know its still risky that one day the project will collapse all of a sudden. Its kind of a NEO giving away GAS like you said which is hard to trade. EOS projects distributing dividends is distributing EOS tokens which is easy to trade unlike GAS.



It must be active, though as a miner you don't literally do the work but you are still maintaining the hardware and pay for the bills. You will constantly check whether you actually have mined coins.

Oops my fears are just probably renewed right now. Thanks for. The heads up mate.

Yes there is always the counterparty risk that your account can get hacked, or the exchange gets hacked.

Do an analysis and see what risk you are willing to take. Maybe don't keep more than 10% of your holdings on one particular exchange. Bitfinex did have a hack but they released a stock portion and eventually a year later those stocks were equaled the loss that each user suffered so if you held it to the end you would of gotten back all your money.

However keep in mind that if you keep your money in a bank, you won't make anything either. So keeping a small % might be worth it because the earnings will add up in a year or so.

You should be able to mine too. If you can not and do not rummage in this nothing to get into this area. Mining is also necessary to constantly engage and monitor what it produces