Trading and HODL are two popular ways to make money in the crypto space. Most of us are all big fans of passive income in all respects of life. HODLing is one such popular strategy, but there are more strategies that can assist you to earn passive income with your digital assets.
A single passive income may not be sufficient but when combined they can really add up.
Here are a few strategies that anyone with vested in decentralization can start adopting from today to create impressive passive income.
Staking
Staking cryptocurrency is one of the more excellent ways to earn passive income with cryptocurrency. In staking, users hold their crypto assets in a cryptocurrency wallet to participate in maintenance of Proof of Stake (POS) based blockchain systems. While staking, users are rewarded for their participation in the system. Depending on the crypto lock-in period , users can year Annual Percentage Yield (APY) ranging between 4%-25%!
Airdrops
Airdrops are a great way to earn new cryptos. Most often than not companies issuing cryptocurrency send cryptos to active blockchain wallet users’ accounts in exchange for small tasks like sharing a particular Tweet or sometimes for free.
It’s always recommended to keep an eye out for such offers.
Peer-to-Peer Crypto Lending
In this, bit of a hands-on approach, crypto lending is a good way to earn passive income. One can easily go to crypto-powered peer-to-peer lending platforms and earn interest by lending their cryptos to businesses or individuals who are in need of funding.
Yield Farming
Yield farming is yet another passive income strategy in DeFi market where crypto holders can pool-in their digital assets and stake those tokens to earn additional returns!
With recent advances in the blockchain industry investing in cryptocurrency has become more accessible. Invest in XcelToken Plus, a digital Decentralized Digital Assets, which is a general-purpose utility token based on the ERC20 Ethereum protocol. It helps hotels, restaurants and marketing partners earn while participating, while travelers enjoy the benefits of a learner eco-system. Follow these passive trading strategies to grow your cryptocurrency wealth.