8 Ways to Generate Passive Income with Cryptocurrency

Passive cryptocurrency income isn’t the fastest road to
riches. However, it allows you to gather more coins with ways that take
no extra effort once they are set up correctly.

Obviously the amount of passive cryptocurrency income one can
generate also depends on the initial capital you have to invest, the
more coins you have the more of it you can allocate for passive
cryptocurrency income projects.

And not only can passive incomes structured the right way, achieve
decent extra income, but it’s a sure way to relieve stress as one
doesn’t have to work as hard for the money that pays the bills.

Note: Investments (including passive income) involve risks and profits are not guaranteed!

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What is Passive Cryptocurrency Income?

Passive cryptocurrency income is a concept in which the goal is to
generate revenue in ways that require very little or no effort at all.
This can include a variety of methods, some that require capital, some
that don’t and can be started for free.

Similar like, you can start investing into cryptocurrencies,
you can also invest your time, effort, and money into passive income
projects and get structured the right way so that you can generate
cryptocurrency income effortlessly all year round for the long term.

That being said, it’s important to note that not all opportunities
are equal. And one should consider carefully whether the approach is for
you if it indeed requires capital to begin with.

How do you make passive income with Cryptocurrency?

Certainly, there are multiple ways one can achieve different levels
of passive cryptocurrency income. Investors with a huge amount of proof
of stake cryptocurrencies are just one example who can keep their
private keys while generating interest all day long.

However there’s also a higher risk because of the wild price swings
of altcoins, so if you are not familiar with the markets, that approach
probably isn’t one you should look for.

Alternatively, you can also of course learn to trade the market
itself and grab some coins which you can then use to stake yourself or
generate passive income in different areas.

Overall getting started with generating different passive income
streams isn’t that hard of a thing, you just have to find the niche that
works for you, and apply yourself. And If you don’t have any money, to
begin with, then start with the ones that don’t require initial
investment capital.

That being said, this post was created with one goal in mind, to walk
you through some of the best ways of passive cryptocurrency income
stream ideas in the crypto space.

So lets get started and dig deeper on the different passive income opportunities.

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1. Browsing The Internet

Risk level to get started: None

Profit potential: Low

Believe it or not but one of the simplest ways to get started with
earning additional cryptocurrency income is to download Brave web
browser and enable Ad rewards.

Brave is a free web browser available on both desktop and phone it
stops websites from tracking you and disables ads. However, Brave will
pay you Basic Attention Tokens (BAT), when you allow ads to show up.

Additionally, you can also combine the Presearch search engine, on
Brave browser, that has its own rewarding incentive, and which pays you
(PRE) tokens simply from searching the internet.

Together both of these platforms combined can yield passive
cryptocurrency income, which works for you on the background totally on
its own, once you have set everything up.

Start earning free bitcoin by simply browsing the internet!

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2. Cashback Programs

Risk level to get started: None

Profit potential: Decent

No matter what income level you are at, one of the best ways to get
started with passive cryptocurrency income is to earn direct cashback
from the stuff you already purchase.

This can include several different methods, such as using platforms that give you discounts and rewards in Bitcoin when you are shopping at your favorite stores, or using when you book your hotels & flights.

Additionally, you can also obtain Bitcoin debit cards with cashback programs, that yield decent up to 5% cash back no matter what amount of capital you are spending.

Discover stores that reward you for shopping!

How to save up to 40% when booking hotels and flights!

Obtain Bitcoin debit card with best perks and rewards!

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3. Savings Accounts

Risk level to get started: Low

Profit potential: Decent

Cryptocurrency savings account are custodial services that let you
deposit coins for lending, or investing, and which then in turn generate
interest over time.

Similar to regular banking, by lending money to businesses and
individuals with interest, users are able to generate passive
cryptocurrency income with very little effort.

Of course, this means the more capital you have, the more you are
able to lend, and the more interest you can generate. The fact you are
giving away your precious private keys should also be considered as a
third-party risk and something that can not be overlooked.

All that being said, a crypto savings account can still be highly
useful, especially when you can spread your wealth across multiple
services, this way you can mitigate some of the risks, and also leverage
your opportunity, as not all services have the same returns.

Find the best crypto savings Accounts & start earning interest on your cryptos!

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4. Exchange Dividends

Risk level to get started: Decent

Profit potential: Decent

Similar to crypto savings accounts, exchanges with dividends, allow
users to own exchange tokens, which if held in the exchange custody
receive rewards and dividends.

Many of the popular exchanges have their own tokens and reward
systems, usually this means the tokens must be locked within the
exchange account, and the user holding those tokens will be entitled to
receive real-world dividends of the profits generated by the exchange.

At the time of writing 23.8.2020 for example Binance is about to
airdrop SXP tokens worth a total of €16,000,000 million each week going
forward to BNB token holders.

Some of the popular exchange tokens include:

1. Crypto.com: CRO
2. Binance: BNB
3. Kucoin: KCS
4. Huobi: HT
5. OKEX: OKB
6. Bibox: BIX
7. BitMax: BTMX
8. Graviex: GIO
9. Bitpanda: Best
10. Beaxy: BXY

And of course, proper research is required when investing in the
exchange tokens, as each exchange is offering different rewards and
perks, and it’s also riskier as the price of exchange tokens can either
fall or rise. That being said, if you can catch a new token at its early
stage, obviously you have a huge advantage over competitors, imagine
for example purchasing BNB back in the day.

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5. Staking Cryptocurrencies

Risk level to get started: Decent

Profit potential: Decent

Staking is the act of securing a network by validating transactions,
and it requires heavy ownership of a cryptocurrency with a proof of
stake (POS) algorithm.

Staking is the original true way of achieving passive cryptocurrency
income, and in which the user never loses their private keys, as the
keys are held in the wallet user uses when staking.

However, staking can be a bit technical and requires an understanding
of market behaviors, as your income is also dependent on the price of
the coin you choose to stake with. And obviously the more coins you
stake, the more network rewards you.

Some of the proof of stake coins include:

1. Nexus: NXS
2. Dash: DASH
3. Decred: DCR
4. Blocknet: BLOCK
5. Peercoin: PPC – The original proof of stake coin.

Of course, there are a lot of more coins, but these are the ones, we
would suggest checking if anything. Be sure you do a proper analysis and
research of the properties of each coin you are about to purchase and
stake, as this method heavily depends on your valuation!

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6. Social Copy Trading

Risk level to get started: High

Profit potential: High

Social copy trading platforms like PrimeXBT allows you to simply let some else trade and manage your money, by directly copying the exact same trades they make.

The trader you are following will then take a cut of your winnings, while you can still keep the larger part of the profits.

By copying other traders, investors of all sizes can quickly become
part of the money-making opportunities, and participate in the worldwide
markets.

This way especially newbies can create real-time trading portfolios,
that automatically grow in size, and also teach followers the rules of
the game.

With this method, it’s important to study the person you are about to
follow, his trading methods, and whether you should manage some parts
of the trade.

Check out the best social copy trading platforms for cryptocurrency investors!

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7. Crypto Trading Bots

Risk level to get started: Extremely High

Profit potential: Extremely High

Crypto trading bots like 3Commas,
can be programmed with a set of rules to automatically buy and sell
cryptos based variety of methods, such as price, or other market
indicators.

This is especially useful for experienced traders who already know
how the markets work, as it allows them to take advantage of amazing
features, such as directly executing trades through Tradingviews alerts
or by using platforms that allow access to import Python code.

Generally, we wouldn’t advise anyone who isn’t already successful
with trading manually to participate in the world of trading bots, as
it’s a sure way of losing money if you do not already know what you are
doing.

That being said if you can manage to set up your bots correctly, and
you have found a way to let these programs execute trades for you
automatically, then sure go ahead, as it can be some of the most amazing
experiences you’ve ever had since first learning to trade.

Full list of the best automated smart bitcoin trading bots available today!

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8. Growing Hemp CBD Oil.

Risk level to get started: Low

Profit potential: High

Becoming a virtual hemp grower isn’t probably something you’ve heard
before as it’s probably the most unique way of achieving passive
cryptocurrency income on this whole list.

CannerGrow – We Grow For You is
Swiss made and based unique world-first cannabis growing on-demand
project that allows investors to purchase physical hemp plants and make
money with Bitcoin and hemp CBD oil.

CannerGrow platform lets users participate in hemp CBD production by
providing the ability to purchase physical hemp plants using Bitcoin.
The user then gets 50% of the revenue while the other 50% goes to the
farmer. This still equals around 70% yearly profit from original
investment which is quite high, to begin with. Users can then withdraw
these profits to either Bitcoin or purchase more plants and generate
even higher yield over time.

Become Virtual Hemp Grover, and make money with Bitcoin & CBD Oil!

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To Sum up

Cryptocurrencies can actually provide a significant passive income if
you are prepared to do the initial work to get started, and have some
capital, to begin with.

As the common people are continuously becoming more interested in
this growing industry, it’s almost impossible to not find proper
legitimate ways to grow your income.

And even though there are some expenses with certain methods, in the
long term, if structured correctly one should easily be able to grow
their income over time.

That being said, whatever you want to invest in, when it comes to
cryptocurrencies, nothing is as important as properly securing your
investments, and in our opinion, this should be the very first step to
begin proper passive cryptocurrency investing for the long run.

Here’s some other articles that you might find interested to read:

• How to Earn While You Learn Using Crypto And BitDegree
• How to Rent Hash Power For Speculative Crypto Mining in 2020
• 12 Best Decentralized Social Media Networks in 2020