Passive income

[Republikcoin.com]

I still don't think that staking ETH would be a good idea at the moment. I am an Ethereum holder but by calculating the stake profitability, I don't think that it's good to take the chance and have your funds lock in some platforms.

Wait until its fully implemented that you can remove or withdraw it at anytime. But owning Ethereum for now is a good idea and investment. Well, just as holding bitcoin, the profit that you'll get when its price goes up is worth it.

Staking Ethereum is a good decision and has a low risk. Instead of just storing it and not increasing it, staking Ethereum is wiser because it will increase the amount of ETH you have in your wallet.
In accordance with the amount of money OP is $ 5000 , then the best option is to participate in a staking pool that is official and has a good reputation.
You can get 2.6 ETH for staking in the pool later.

Here's a list of recommended staking pools: https://beaconcha.in/stakingServices

[Investo20]

Right now I also see cake staking as a best option for passive income. Their APY is very high like over a year you will double your staked amount or more than that.
But there is a great risk involved in putting all eggs into one basket. If one exploitation or hack happens to cake then your funds will be lost fully. So I would say to diversify you vision.
I would say to stake a part of your fund with cake. And rest you should divide in two parts. Invest one in potential coins you expect to give multiple x profit and with the other part go with trend like when nft season go with nft, now it's blockchain gaming season coming. You can go with that.

[onecall123]

Staking is is a great way to earn passive income right, because of the volatile nature of the market right now it most difficult to guarantee a passive income in cryptocurrency. But staking gives some guaranteed income, even though you can’t get a stable price for your rewards token, so it is most likely not passive.

Staking not only allows you to get passive income, but also to lose all or part of your money. In this case, it all depends on the platform on which you place your coins. And the higher the APY, the higher the chance of losing money. And accordingly, the more reliable the platform, the lower the APY offered by it.

Is there a better way? No. A crypto market is full of risk and there is a possibility of winning and losing. At least you can justify the fact that your investment does not follow a downtrend exclusively, but there is some added value. I've been staking for about 3 months and they have such an amazing return. Even though there's a risk of losing money, this is still awesome.

[adzino]

You have $5,000 capital. Just buy and hold to make a nice "passive income". Put most of your money on bitcoin and some on the top altcoins like ethereum. When you are at profit, sell half of your investment and hold rest. When the price drops, buy more with your profit. Use the rest to try out your luck by investing in those very volatile and trending coins. Just make sure to dump it as soon as you make at least some profit. Those trending shitty coins usually die within a month.

[panjay]

There are some ways to earn passive income.

One of them was staking, of course, for me I would staking at terra. You got all the rewards with being a delegator (some kind of staking) but also you can get another airdrop with just holding/staking your coin.

There was also a down side, if market crash your passive income will become a negative income.

[ectbit]

I agree that if you don't want to risk a lot and you want a, somehow, good APY, staking Cake in Pancake Swap is a good choice.

However, there are many DeFi platforms out there that offers you much more than the 100% APY of Pancake swap.

Personally, i try to find a good project with more than 1% daily, i stake my crypto and i get out when it starts to fall.

[el kaka22]

I get that many people want to increase their money without working, and crypto is a great way of doing it, so you invest into crypto but now you want to grow your crypto amount without working as well. However remember that staking is just good only if the price stays the same or goes up and not too many people invest into it.

If too many people invest into it then the APR will drop significantly, if the price falls then APR will drop significantly as well. I rather not invest into something that has such a huge chance of not being worth something, you could have bought cake 4 months ago and farm for the past 4 months and make a loss right now, does that sound good?

I am sure there are tons of people who made a profit as well, but I rather not risk it so I do not do it. Of course if you want to invest into Cake, then farming it as well is not a bad idea, just don't invest only for that income, invest if you believe in the token as well.

[XavierLaurent]

Staking might be a good option if you have big useless sum of money laying around. Otherwise its not worth it IMO.

[TopTort777]

Staking might be a good option if you have big useless sum of money laying around. Otherwise its not worth it IMO.

I don't have "have big useless sum of money laying around", but I keep some altcoins on Binance that worth couple of hundred bucks. I did not earn a lot, but still my money works and I get something. There is a good quote "A penny saved is of more value than a penny paid out.
Martin Luther". That is totally correct about passive income with any amount. Think about it at your leisure.

[tyz]

I don't have "have big useless sum of money laying around", but I keep some altcoins on Binance that worth couple of hundred bucks. I did not earn a lot, but still my money works and I get something. There is a good quote "A penny saved is of more value than a penny paid out.
Martin Luther". That is totally correct about passive income with any amount. Think about it at your leisure.

That means you're stacking on Binance? I hope you also know that you are entrusting your savings there to an unregulated company. It would make more sense to do the staking on a project that is decentralized. There are some good projects here, e.g. Tezos, Waves, Komodo etc, where you can get 5-6% for sure without entrusting this to a central company.

[john_nautica]

Is it only staking where you would be able to have a passive income? I think with that kind of amount you can start small business or probably divide the fund to different investment like staking, trading and business I think it's much reliable to have more than one passive income than focusing all your money to one.

[mksundip]

What are some of the best ways to earn passive income right now? I was thinking about staking $CAKE, just staking it and not using liquidity farms. But not sure how profitable that would be, compared to some other methods. I have a 5000$ capital.

the bsc network is busy to talk about because of the bsc's liquidity.  here bsc for passive income does not matter as long as it is correct at the initial goal and not wrong in choosing coins on the bsc network

[aioc]

What are some of the best ways to earn passive income right now? I was thinking about staking $CAKE, just staking it and not using liquidity farms. But not sure how profitable that would be, compared to some other methods. I have a 5000$ capital.

Staking Cake is good but does not pour your capital on one coin alone, there are a lot of ways to earn passive income and there is stable Farm sites worthy to look at be careful on new farm sites so many of these are doing rug pull, investing in the top coin, and hodling it, is also highly recommended, this is the best time to buy new upcoming projects with good potential like DPET and Binamon, they are gaming sites very much similar to Axie.

[TribalBob]

Staking sucks, either DeFi staking or normal staking cos it requires lots of funds to earn reasonable money or returns every months, imagine staking 100k worth of stable coin to earn 400+$ per month, lol what If the unexpected happens to the exchange ?

right, does it not affect our coins that we bet? I personally am still confused in this staking case.
where many of my friends suggest staking to get passive income by staking and farming but I'm still confused in its implementation

[taufik0911]

if you want passive income my recommendation is to buy a turbine generator and buy an antminer
when we mine using electricity the problem is the high cost but if we buy a tubin generator then our profit is 100%
we can get 2 profits from mining and trading results
this is just my opinion, maybe someone has a better opinion than me here?

[livingfree]

I still don't think that staking ETH would be a good idea at the moment. I am an Ethereum holder but by calculating the stake profitability, I don't think that it's good to take the chance and have your funds lock in some platforms.

Wait until its fully implemented that you can remove or withdraw it at anytime. But owning Ethereum for now is a good idea and investment. Well, just as holding bitcoin, the profit that you'll get when its price goes up is worth it.

Staking Ethereum is a good decision and has a low risk. Instead of just storing it and not increasing it, staking Ethereum is wiser because it will increase the amount of ETH you have in your wallet.
In accordance with the amount of money OP is $ 5000 , then the best option is to participate in a staking pool that is official and has a good reputation.
You can get 2.6 ETH for staking in the pool later.

Here's a list of recommended staking pools: https://beaconcha.in/stakingServices

Thanks for that list.

That's good information to see that there are a lot of staking services already that are in existence. But I'd be careful with all of them and just have to wait for the official release of it.

Binance even got one but you need to lock it for a long time.

[OZmaster]

What are some of the best ways to earn passive income right now? I was thinking about staking $CAKE, just staking it and not using liquidity farms. But not sure how profitable that would be, compared to some other methods. I have a 5000$ capital.

Staking Cake is good but does not pour your capital on one coin alone, there are a lot of ways to earn passive income and there is stable Farm sites worthy to look at be careful on new farm sites so many of these are doing rug pull, investing in the top coin, and hodling it, is also highly recommended, this is the best time to buy new upcoming projects with good potential like DPET and Binamon, they are gaming sites very much similar to Axie.

But I wonder is farming really worth it? Or providing liquidity? Isn't it quite dangerous to ultimately lose money because the staked coins or the coins you use for farming get dumped and decrease in value anyway?

[Fredomago]

What are some of the best ways to earn passive income right now? I was thinking about staking $CAKE, just staking it and not using liquidity farms. But not sure how profitable that would be, compared to some other methods. I have a 5000$ capital.

Staking Cake is good but does not pour your capital on one coin alone, there are a lot of ways to earn passive income and there is stable Farm sites worthy to look at be careful on new farm sites so many of these are doing rug pull, investing in the top coin, and hodling it, is also highly recommended, this is the best time to buy new upcoming projects with good potential like DPET and Binamon, they are gaming sites very much similar to Axie.

But I wonder is farming really worth it? Or providing liquidity? Isn't it quite dangerous to ultimately lose money because the staked coins or the coins you use for farming get dumped and decrease in value anyway?

That's value of researching and continuing to follow latest news with the project that you are participating. It's a must to know first what kind of asset you are staking your money before jumping into it and invest.

I like the ideas of finding those new projects who are offering usages coin like axie infinity which serves as very profitable in its hot season, finding those same kind of projects who also have good potentials will allow your money to work for you.

Dedicate your time is also important in quest to find the right valuable assets that will make your journey very successful.

[capcaypro]

Passive income in crypto is indeed now a good option in getting benefits but this is certainly a very high risk for me because to get a large passive income every month you have to risk quite a lot of money too of course and you have to think carefully and do it. research first before deciding on this because the risk is very large even though the exchange has a fairly good track record. because no one can guarantee your money here so you have to act wisely.
although this is indeed quite good but I prefer to do trade.

[clarkt]

Staking in network like ethereum or binance smart chain is good in theory and very risky in practise!  There have been a lots of flash loan vulnerability on binance smart chain.  The security of your fund should be the uttermost priority for you! I will not trust my fund with centralised exchange.  I might consider decentralised exchange but I will make sure I am not at risk of being a victim of any hack!