Crypto Passive Income - My Experience

[SquallLeonhart]

it's hard to have too many platforms to keep track of.

That is the weak point of passive income generation. You must need diversification still you must need to do in massive volume yet that will lead to poor managing due to time constraint and lack of manpower availability. In my experience, instead of risking with third party things and altcoin related stuff, it would be highly secured and profitable if you try to make use of bitcoin with long term holding which might be definitely having good interest rate than 8% of your most of the things.

Yeah, bitcoin itself a very good opportunity to gain good value over the time passively. I bought bitcoin when it was trading below $1000 and I am still holding it and I spend zero efforts after buying and keeping in cold storage. That cannot be called as passive income generation with respect to current price of BTC?

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[michellee]

Crypto passive income is possible if you can find a right source to use. I see you use binance besides of the other sources so I guess you can earn some decent reward from staking. Staking can be the one of many ways to earn passive income from crypto and besides of Binance, you can stake in many wallet that you mention. I give you some more wallet that you can use to staking such as Atomic wallet, CRO.com wallet, Kucoin wallet, Coal lite wallet.
I agree with what you say that we do not have to use too many sources to staking because that will need our attention to manage every wallet or sources that we use.

[worldofcoins]

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.

In the beginning, those Swapping exchanges provide that rate for some pairs that are new just to get users to contribute to the liquidity(which would be low since not many provide liquidity to new crypto in those exchanges) So they have to set high APR rates specifically for those.

In my experience I used Apeswap and there was an Alt whose APR return was over 1500%, Then it came down slowly to 300% and then under 300% after the liquidity was enough.

I didn't use that function because I didn't trust to invest in a new volatile altcoin so I just witnessed it.

So at last, Those returns seem good but they aren't the same for every coin in the market, It fluctuates based on many variables and obviously it's good to provide liquidity on a good Swap exchange rather than a new one.

[Rajamuda]

Passive income is more tended on investment, basically this is still one of the most meaningful and of course.. still the one way which means it is certainly still very feasible to do, here we really need a trusted and well-known site, and a little I suggest lest we try a new thing/new way that many people have not recognized related to the profit also definite proof.

[livingfree]

Crypto offers lots of options on how you can earn passive income continuously just by being smart and wise on picking certain ways. Nevertheless, upon picking such ways, make sure that it is worthy and it would be safe and secured. Having a passive income most likely end up being left without guidance since it is passive. Always make sure that you can certainly trust such ways, it will be worth it for sure as time passes by. Be wise and smart upon picking, so that your profits and earning will get higher and higher as time passes by.

That's the beauty of having passive income.

You do something else and the one that you've planted with those investment choices, the legitimate investing techniques will grow on their own.

Generating you potential unlimited income as long as you know how it's working. It may not that be much but additional little income grows exponentially over time.

If you'll not going to touched those passive income for sure you'll noticed the increased in span of long term, most of those who
understand and value those passive ways of generating money continually adds more.

It's best to find those legit ways and invest your spare money nd allow it to work for you, just need to learn the right way and
you are good to go.

And with your spare money.

You have to be consistent with that investment while keeping it. You're going to keep it until you can while adding more if you can so that it can generate more money.

Those investments that are generating passive income, the more capital you put, the more potential profit you'll get.

[sana54210]

In the beginning, those Swapping exchanges provide that rate for some pairs that are new just to get users to contribute to the liquidity(which would be low since not many provide liquidity to new crypto in those exchanges) So they have to set high APR rates specifically for those.

In my experience I used Apeswap and there was an Alt whose APR return was over 1500%, Then it came down slowly to 300% and then under 300% after the liquidity was enough.

I didn't use that function because I didn't trust to invest in a new volatile altcoin so I just witnessed it.

So at last, Those returns seem good but they aren't the same for every coin in the market, It fluctuates based on many variables and obviously it's good to provide liquidity on a good Swap exchange rather than a new one.

However it is also wise to remember that you are not getting those returns exactly, you know why? Because both the APR is changing like you said, but also price changes constantly as well, you are not going to get that return in dollar value and you are not getting it in cake (or whichever swap) or even in bitcoin.

Basically it is not a number that can be trusted, it is a random number at that point, doesn't matter what it says, doesn't matter if it is 80% or if it is 800% because in the end it could change overnight. How? Well you could do bnb-cake on pancake and get a very very tiny return compared to most, but then both bnb and cake could increase like hell and you would make A LOT more than any other pair. At the same time you could invest into something brand new and it would drop so much that you would have basically nothing in the end. So, it is never important to look at those APR numbers.

[rosebrand]

All this you mentioned are really a good way of earning passive income, but for me i prefer staking on Binance because it's actually a very big exchange and has many way of earning too not just staking only, and also why i prefer Binance is also for security purposes tho binance has been hacked before but didn't run away which made them trust worthy and i am sure since then their security became stronger so there can't  be hacked easily and i would also prefer Binance to any other exchange earning activities.

[Asuspawer09]

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I do a lot of this passive income in the past years and I think it is a good passive income since you could earn an interest in holding different kinds of the token, but for me, it just wasn't that worth it in my experience and it's also a big risk since you are locking in investment in the website or wallet and its not decentralized meaning you could lose that money if they get hack or something.

For me, it just not the best investment to do since we have something a new concept like NFT's where a little similar, I mean it works for me, and NFT's is more profitable especially if you try blockchain games where is combine with defi where you need to stake and then receive a reward or just straight NFT's.

But still staking cryptocurrency is still great especially if you're aiming for long-term investment and if you invested at this like this where the market is just so low the potential profit in the future was big.

[dunfida]

All this you mentioned are really a good way of earning passive income, but for me i prefer staking on Binance because it's actually a very big exchange and has many way of earning too not just staking only, and also why i prefer Binance is also for security purposes tho binance has been hacked before but didn't run away which made them trust worthy and i am sure since then their security became stronger so there can't  be hacked easily and i would also prefer Binance to any other exchange earning activities.

You wouldn't have a problem about hacking if you don't leave your funds in any exchanges although, binance is different and the last hacking event about them didn't successfully made since they have a good security against these kind of people.

Back on the passive income, most of those suggestions listed in OP are very helpful. People should try it but of course, risk is always involve so better run a background check or do your own research then invest to have a passive income although I believe it will take some time to be called as passive before you get your ROI.

[wiss19]

I bought bitcoin when it was trading below $1000 and I am still holding it and I spend zero efforts after buying and keeping in cold storage. That cannot be called as passive income generation with respect to current price of BTC?

Honestly people are looking for peanuts by leaving off gold mines when they are hunting for passive income generation. Bitcoin must be a very good opportunity for generating passive income with comparatively zero risk. But probably people are looking for multiplying their bitcoins rather than gaining value in USD. Because, if you're going to risk in something with your 0.05BTC then if you may gain some 0.01BTC then you will end up in 0.06BTC but if you buy bitcoins for $100 (some 0.03BTC) and after 4 years of holding then your $100 worth of bitcoin will become $1000 but you might be holding same amount (0.03BTC) of bitcoin.

But, I am into bitcoin holding for generating passive income as I will not bother about that I am gaining in BTC or in USD. I am just looking for making my networth to be growing over the years.

[Ultegra134]

I've participated in DeFi projects for the past few months, the first one I was in, made me a decent amount of money, but then the algorithmic stable coins crashed, and it was over. After that incident, I only provided liquidity to Stable LPs, and would generate a reasonable sum of money each month, considering that it was almost 100% autopilot and didn't require me to do anything throughout the day.

If you have a decent sum, let's suppose over $5.000, then you could potentially achieve a reasonable profit daily.

[sumant]

Definitely crypto has been a source of passive income for people who has been from start with crypto and have hold their crypto for sometime. I have earned some income from these crypto as well. I done both trading and investing, airdrops and bounties as well. BNB and ETH always my two favorite coins and I have gain from that. Crypto has given 100 to 1000x returns so this is really amazing.

[SirLancelot]

The reason why we are having easier time with the passive income these days is the fact that all those farming and staking profits from passive income comes from the idea that people are still buying those tokens which makes the price hang as tight as possible. Like for example you want to buy cake and put it in a pool and make some return? Sure that is possible but it is giving you a return based on the price at that time, so if it tells you that it will give you 50% return that is based on cake and you calculate based on that price, what if the price of cake drops 90%+? Then you will be screwed and all of your passive income would be gone.

So all of the passive income in those places are based on the price constantly being at that level or even higher in order to make it legit, the moment it starts to go down, all of your investment goes down with it.

[jerry0]

What is the best site for staking a stablecoin like usdt or usdc?  Im from the US but overseas though.


Some sites i can't use because they are restricted due to my location etc.

[electronicash]

What is the best site for staking a stablecoin like usdt or usdc?  Im from the US but overseas though.

Some sites i can't use because they are restricted due to my location etc.

the ones that i could recommend which your coins don't go anywhere but just inside your own wallet is the USDN in the WAVES exchange which you can use your wallet to just stake it. APy is about 6.9%, i'm not sure though so you will have to check it here on https://waves.exchange/ my experience is quite good so far in staking WAVES.

[jerry0]

Hey.  I actually have waves and waves exchange wallet.  I do stake waves though but don't stake anything else.


But do you stake usdn?  Is it only that small percentage apy now?  But how much interest is that a year?  Does it change every week or so?


Again because if its how it is... why can't someone put a decent amount of money into usdn and stake it for passive income?  Like imagine someone with 10,000 dollars or 100,000 dollars... buy usdn and stake it in waves wallet.  Then they get around 700 or 7000 dollars a year right?  But the usdn can always convert back to usdt or usdn right?

[Renampun]

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thank you for this experience you share...

I'm currently focusing on finding my passive income platform while still holding the coins I bought. I will find out more about crypto.com because you said the BTC interest there is quite high.

[el kaka22]

Interesting to see that people are actually going with this interest thing in the crypto world as well. I always said that we should not be doing it in fiat world because it was always a bit of risky move, but I guess it is actually going very well in crypto because it is not guaranteed. In the regular fiat world if you give someone interest, that money has to come from somewhere, which means if there is finite amount of money, then that person would collect all the money in the world one day, which is why we do not have finite money and we keep printing it, and that makes fiat less and less valuable (among other reasons).

In crypto it is about the same, we keep printing, farming, mining new tokens/coins everyday to keep giving people these earnings, it should definitely make the token a lot less valuable over long period of time, now there is a demand for it but eventually it is going to be very tough.

[Shenzou]

I feel like passive income is not quite as profitable as people think it is, why would you risk you cap trying to invest into multiple things just for a small return, where you could just invest it in some other way that is not highly active but will give your a better return, generally passive income like cloud mining and staking seems to be a risky business.