cryptocointrade.com (OP)
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I have been trying different kinds of sources to generate passive income from cryptocurrencies
What did I use?
- Interest accounts from Nexo, Celsius, Crypto_com, BlockFi, Swissborg, YouHodler, Nebeus, BTCpop
- Liquidity providing on Uniswap and Pancakeswap
- Staking on Binance, Kraken, Binance chain, Mycointainer, Matic, Perpetual Exchange, Synthetix, 1inch
- Cloud mining from Genesis Mining, ViaBTC, Hashmining24
- Yield farming on Pancakeswap, Pankcake Bunny
What do I still use and why?
Nexo because they have good interest in Stellar XLM and Ripple XRP (up to 8%)
Celsius because they have a good yield on Matic (around 10-14%) and BAT (around 3.5%)
Binance because they have so many different earning products, including staking on ADA and DOT
Crypto_com because they have the best interest rate on Bitcoin for the moment (up to around 8%)
Swissborg because they have great interest rates for USDC (up to 14%) and ETH (up to 7.5%)
Uniswap because there is a great yield on some liquidity pools like YFI/ETH, LINK/ETH, COMP/ETH. Remember to understand the risk of impermanent loss here.
Synthetix because they have a platform with great potential and great interest rate (around 30%)
Perpetual Exchange because they have a platform with great potential and great interest rate (around 95%)
Kraken because they have a great reputation regarding security and regulation (not the best rates though)
Matic because the project is great and the interest is great
1inch because the project is great and the interest is great
What did I stop using and why?
Cloud mining because the business model is very hard to review and historically it's very hard to be profitable
Pancake Bunny just suffered from a hack. However, it might be time to consider joining there now again because they have improved
Nebeus, YouHodler, and BTCpop I just stopped using because it's hard to have too many platforms to keep track of.
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affandi
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 01, 2021, 03:20:28 PM |
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avoid cloud mining because it is prone to scams and many ponzi schemes, I have participated in several cloud mining sites but on average they only lasted two weeks ago their sites disappeared and now I am getting passive income from some farming and staking at Pancakeswap and Bakeryswap and most recently Mocktailswap whose daily APR is quite large, around 600% to 700%.
DYOR
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Ultegra134
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 01, 2021, 05:20:52 PM |
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I've heard that the so-called Cloud Mining industry is notorious for quite a few scams, hence why you abandoned it. I used to have BTC on Freebitco.in a few years ago, taking advantage of the 4% interest, but wouldn't bother anymore. Likewise, I'm currently providing liquidity on a pancake pool (Iron-Busd), an almost worry-free investment, since both are altcoins.
There are plenty of interesting pools on Beefy, but I'm not into risking high amounts of money, the reward could be higher, but I'm genuinely worried to put money on a project which has a high impermanent loss.
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BrewMaster
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There is trouble abrewing
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June 01, 2021, 05:22:40 PM |
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this sounds like a very high risk operation you are running here. the profit you are making has to be very huge to justify the risk you are taking which it doesn't seem to be that big. the cloud mining risk and their ponziness is clear to everyone but nobody covered the risks of staking. when you stake shitcoins specially not on your own and with a custodial wallet you are risking losing everything if that custodial wallet closes your account or gets hacked. there is also an additional risk of losing a lot of money when the shitcoin you are bag holding for staking purposes gets dumped. considering these coins are dumping hard and there is a lot of reward that will be sold by all stakers the dumps are guaranteed.
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There is a FOMO brewing...
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iv4n
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June 01, 2021, 06:21:18 PM |
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Open Binance, on the left side you will see "Earn", you will see so many options for generating passive income! And not just Binance, other exchanges have that too! I guess many multicurrency wallets have some staking options now, I am using Atomic wallet for some coins, for example! From casinos where you can earn from dividends to exchanges and wallets, there are so many different ways to make some passive income in crypto! And numbers are simple to understand, and everything comes down to your bankroll and the level of risk you are willing to take!
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livingfree
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 01, 2021, 07:47:21 PM |
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You barely earn with cloud mining and it's a good option that you have stopped using them. The rates from exchanges really varies and whoever got the most, they're the ones who attracts most of the users.
But I would be away from staking through exchanges, if it's possible to stake to a wallet, that will be my better choice. But I'm impressed with your strategy and you're running all of them at once.
Do you have any estimate how much you earn if it's on the daily basis?
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Upgrade00
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Playgram - The Telegram Casino
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June 01, 2021, 08:24:51 PM |
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I am getting passive income from some farming and staking at Pancakeswap and Bakeryswap and most recently Mocktailswap whose daily APR is quite large, around 600% to 700%.
A daily APR or DPR of 600% is quite high and somewhat unrealistic for a project, it would most likely lead to supply shocks and crash the value of any currency, if it were true, then it raises lots of red flags about the longevity of the project. @OP, besides the risk of losses, be aware of protecting your private information. Some users do not bother to verify a website before submitting information to it, and the more platforms you register on the more the risk of personality theft.
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magneto
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 01, 2021, 10:13:54 PM |
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I think that in the very near future, there will be an institutional influx of funds into these blockchain-based savings products and/or staking platforms.
They simply provide so much more in terms of interest paid on your funds compared to traditional banking alternatives.
However, given the fact that these are all not FDIC insured and with the exception of Crypto.com not audited by a large accounting firm, the risks are quite high. I wouldn't recommend putting away more than half of your assets into these platforms given the risks associated with them. The returns would still not be high enough to justify that imo.
In terms of cloud mining, that's just a no-go altogether. Not worth your time.
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The Sceptical Chymist
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Top Crypto Casino
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June 01, 2021, 11:34:37 PM |
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now I am getting passive income from some farming and staking at Pancakeswap and Bakeryswap and most recently Mocktailswap whose daily APR is quite large, around 600% to 700%.
Say what??? Are you telling me there's a legitimate way to earn that much of a return (emphasis on legitimate)? That just doesn't sound right. In fact, members have gotten tagged here for promoting services that advertise rates of return that are much less than that. Anyway, I've never heard of either one of those sites. I'll have to take a look to see what they're all about, but I doubt I'll end up using any of them. It sounds way too good to be true. But I would be away from staking through exchanges, if it's possible to stake to a wallet, that will be my better choice.
I would definitely not stake on an exchange, even if they're one of the more reputable ones. Not your keys, not your coins--you never know what kind of snag is going to prevent you from accessing your coins, and if they're on an exchange it's all out of your control. As far as cloud mining goes, are there any such operations that aren't a scam? It seems like nobody around here mentions cloud mining anymore, so I assume they've gone by the wayside. And yeah, I'd stay far, far away from them. There are much better, less risky ways of earning passive income.
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uneng
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 02, 2021, 01:09:16 AM |
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I think that in the very near future, there will be an institutional influx of funds into these blockchain-based savings products and/or staking platforms.
They simply provide so much more in terms of interest paid on your funds compared to traditional banking alternatives.
However, given the fact that these are all not FDIC insured and with the exception of Crypto.com not audited by a large accounting firm, the risks are quite high. I wouldn't recommend putting away more than half of your assets into these platforms given the risks associated with them. The returns would still not be high enough to justify that imo.
In terms of cloud mining, that's just a no-go altogether. Not worth your time.
This is the future of banking system. Who would keep putting money in a traditional bank saving account to earn negative interest in fiat (when compared to the real inflation) if they can earn at least 4% annualy over their bitcoins in sites like Celsius, Nexo, Crypto dot com and even Freebitcoin and more than 10% yearly interest over stablecoins. Banks still have investors because most people aren't crypto adopters and think it's profitable to have a saving account. Once people get educated on this matter traditional banks will have to change their standards, raising customers' interest and decreasing their own profit. Even doing this they will be lucky if they will be able to survive with so many innovative competitors on the industry working wordlwide.
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Darker45
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June 02, 2021, 03:46:24 AM |
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now I am getting passive income from some farming and staking at Pancakeswap and Bakeryswap and most recently Mocktailswap whose daily APR is quite large, around 600% to 700%.
Say what??? Are you telling me there's a legitimate way to earn that much of a return (emphasis on legitimate)? That just doesn't sound right. In fact, members have gotten tagged here for promoting services that advertise rates of return that are much less than that. Anyway, I've never heard of either one of those sites. I'll have to take a look to see what they're all about, but I doubt I'll end up using any of them. It sounds way too good to be true. LOL. I'm pretty sure affandi meant something else, probably daily yield on a 600% to 700% annual rate. After all, APR means Annual Percentage Rate. The annual rate could be true, 600% to 700%. That indeed exists, some even higher than that, as far as I can remember. But definitely those rates are not the daily yield. There's a daily return on the basis of that annual rate. Anyway, OP, you're one hell of a man/woman. I cannot imagine myself getting into all those investments in different platforms. If I were in your place, I'm sure I was already biting off more than I could chew. I guess that would take all of my precious free time, probably even deprive me of a good night's sleep.
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semobo
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 02, 2021, 04:22:36 AM |
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It seems you got huge portfolio value that is why you diversified your assets into different platforms to earn money, which is good but highly risky as well since any coin may get a huge hit on its prices in no time so all the years you have been waiting may end up over a night, so you also need to consider about it.
And how much of your capital was allocated into these kind of investment plans? 30%?
Don't invest all your capital for little rewards like this!
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davis196
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 02, 2021, 06:29:40 AM |
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You have diversified your investments,OP. I wouldn't use 20 different platforms to store my capital.This sounds like a pain in the a$$. I usually don't trust altcoin/token projects so I wouldn't bet my money on them.I'm always afraid that sooner or later,some of those platforms are going to scam me or get hacked. I want to keep it simple and just HODL Bitcoins. I don't believe in the concept of "passive income".People always have to work hard to gather more money. My income should always be active. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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bittick
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 02, 2021, 06:40:47 AM |
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cloud mining is definitely just a ponzi in disguise. however i can't get over with defi that has history of being hacked though, I know code always have some vulnerability to exploit doesn't matter how much better the security but like the recent hacking involving belt finance for example, the case is fishy as heck because there's deletion of one line code made by insider (still suspected) that causes the hacking, maybe such thing also happened to pancake bunny as well making me reluctant and prefer to stick with more reliable defi since it's money we're talking about. therefore for passive income i'd just prefer usual stabecoin staking and some little yield farming.
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Leviathan.007
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 02, 2021, 07:03:39 AM |
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Talking about sharing experience, I would like to share my experience about stacking tron. when the price of each tron was around 0.02 dollars I bough some trons and started staking on my tron wallet it was the first experience and I would earn ~2-3 dollars per day, if you also count rising of the price my passive income gone insane. Another, experience was holding some bitcoins on Binance earn and taking profits, while I was enjoying the bullrun I got some interest over my money. However, here I would like to note where are many scammers abusing people by promising them passive income or even doubling their money so I would suggest to avoid the projects giving you too much interest in short term and do your own research.
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Reid
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 02, 2021, 08:30:52 AM |
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That's so much high-risk you got in there. If I am to pick one, I'll choose the staking process in Binance and that's it.
What I won't choose is a different story, there's a lot of them that I don't want to get my hands on and check daily for updates and current news. That's just too much workload. But I would erase cloud mining without remorse. From inception, that's the worst investment choice you will make and you better stay away from it to avoid getting rekt.
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Mauser
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June 02, 2021, 09:04:23 AM |
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Thanks for your summary, it is great. I haven't much experience with passive crypto income, honestly my only real income besides trading is gambling with cryptos. There seems to be a lot of different services for earning money passively with cryptos. Maybe you could give us a little bit more information? My biggest question is, if you had only one service to choose, which one would it be? And what is an realistic expectation that we can earn with cryptos passively? Is it more than the interest on our money market account?
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LogitechMouse
Legendary
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Paldo.io - Crypto Airdrop Database
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June 02, 2021, 10:03:27 AM |
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~
You really diversified your investment a lot ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) . This is a high risk investments especially on Cloud Mining but its good that you stopped it already. Being invested on Nexo, Celsius and Crypto.com is for me a low risk but low to moderate reward. I'm currently invested on Crypto.com right now thru their staking and their Supercharger feature. Being a liquidity provider on Uniswap and Pancakeswap is another form of passive income but beware of impermanent losses because you are providing liquidity to 2 coins there unless one of the coins is in USDT then that lessens the risk. As for me, like I said I invested on Crypto.com thru supercharger and their staking feature. At the same time, I'm currently staking some ADA, CAKE and APE (both might be a bit risky but I can afford it if the worst thing comes so no worries. High risk = High reward).
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The Sceptical Chymist
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Top Crypto Casino
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June 02, 2021, 10:36:29 AM |
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LOL. I'm pretty sure affandi meant something else, probably daily yield on a 600% to 700% annual rate. After all, APR means Annual Percentage Rate. The annual rate could be true, 600% to 700%.
I know what OP meant, but that's still a rate that seems way too good to be true in my eyes, at least from an income standpoint. I realize that lots of people have made much more than that by holding coins and achieving capital gains above 700%, but that's different. If a staking coin promised that much of an annualized return, I would be extremely skeptical to say the least. Doesn't anyone else find that claim to be a bit odd, or am I just completely out of the loop? 700% is almost 2% daily, and there's no asset I know of that pays out that kind of income.
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AicecreaME
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June 02, 2021, 12:52:38 PM Last edit: June 02, 2021, 02:03:53 PM by AicecreaME |
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<...>
Good decision that you have abandoned cloud mining. Plenty of scams are roaming around that platform. They will just try to get into you and once you've trusted them your money, they will disappear after a few days or weeks after giving you high hopes. Binance is a nice platform to put your funds and invest in. Although you still have to limit yourself because risk is still present. You just do your ways and invest in accordance to your risk appetite. I suppose you have a nice portfolio and funds at hand to diversify that much. This is still good though, not putting all your eggs in one basket. Thank you for your inputs about what is good platform that offers high interests, will surely look into it.
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