Best Passive Income Cryptocurrency Reddit

Best passive income cryptocurrency reddit

The emergence of cryptocurrencies has ushered in new ways to earn extra money.

How to Earn Passive Income With Cryptocurrency

You can earn money as a trader or even through mining. However, passive cryptocurrency income is emerging as the perfect way to supplement your monthly income.

Best passive income cryptocurrency reddit

To help you earn passive income, we have several programs that do the work for you. Generally, passive income happens when you invest your money and time.

Best passive income cryptocurrency reddit

As the investment grows you will generate passive income. In this guide, we look at the best cryptocurrency passive income streams.

HODL Finance

HODL Finance is a European digital lending firm that issues loans backed by cryptocurrency and other digital assets.

Apart from loans, HODL Finance allows users to passively earn extra income by depositing digital assets and earn interest.

To get started, HODL Finance will require you to select the stablecoin you would like to support.

Top 3 Ways To Earn Smart Passive Income From Cryptocurrencies

The platform has listed USDT and USDC with an option for other digital assets.

You will then provide the value of the stablecoin you would like to deposit, the amount and the period in months you would like to deposit the coins. The rates includes 3 months for 4% annual interest, 6 months for 6.5%, 9 months for 6.5% , 12 months for 7% and 18 months for 7.5%. All the interest is earned on a yearly basis.

In the final stage, you will provide your name, country of residence and email address.

Best ways to earn passive income from Cryptocurrencies:

The HODL team will then get in touch with if they have accepted your offer. Note that the company does not sell, buy or exchange cryptocurrency.

This is a perfect source of passive income for individuals who are not willing to sell their digital assets over a long term period.

Kucoin Shares

KuCoin shares (KCS) is a product of KuCoin cryptocurrency exchange.

KuCoin is among the leading cryptocurrency exchanges with a good reputation. The exchange allows holders of KCS to profit from the success of the exchange.

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The more shares you hold the more the dividends you receive. By the time of writing this article, one KuCoin share was selling at $1.07.

Which coins earn passive income?

The easiest way to make a passive income with KuCoin Shares is to buy the shares and hold. You may end up benefitting in the event the token price rises, especially during the bear market.

On the KuCoin Shares website, you will get a calculator to help you determine the profit you will earn from holding KuCoin shares. Before buying the shares, you will have to be a member of the KuCoin exchange.

You can buy the shares by first depositing funds into your account.

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You can deposit cryptos or fiat through a credit card.

To buy KCS, visit the exchange page, place a limit order by entering the price you are willing to pay per KCS token. You will then keep KCS in your KuCoin account.

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The KuCoin shares will be deposited into your account daily. The amount will vary based on how much money KuCoin has made from trading fees. Note that, KuCoin uses 50% of all trading fees to buy back KCS and redistribute it to holders.

Nexo

Nexo is among the leading platform offering cryptocurrency backed loans.

Recently, the platform launched a program that can be ideal for earning passive income. Nexo is offering a 6.5% interest rate on Dai, PAX, USDC, USDT, and TUSD stablecoins.

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The interest rate is compounded on an annual basis but all payments are done daily. Compared to traditional banks, this is a lucrative interest rate that guarantees you higher returns in the end. You can withdraw any amount at any given time.

All the payments are automatic and you access the funds through the Nexo wallet.

According to Nexo, this program not only enables investors to earn some passive income, but it also helps in protecting the stablecoins.

For Nexo loans, the platform supports popular cryptos like Bitcoin, Ethereum and Ripple. Note that cryptocurrency loans can also be a source of passive income. If the value of the asset you are using as collateral goes up during the loan period, the borrower gets to keep the extra gains. You can end up with the same, or even more money after the loan has been repaid with interest.

Furthermore, funds on Nexo are secured through asset-backed portfolios of overcollateralized loans.

Best passive income cryptocurrency reddit

The collateral of each loan is subject to custodial insurance of $100 million offered by BitGo.

Decred

Decred a cryptocurrency that aims to solve blockchain governance issues.

Creators of the asset want to make it an autonomous currency, run by its community.

Decred is among the first assets to incorporate the Proof-of-Work and Proof-of-Stake at once. This means that miners and stakers both have the voting power to make decisions.

Best passive income cryptocurrency reddit

In short, a holder’s opinion is of high value within the community. Based on its nature, holding the asset can have good returns in the long run.

You can make a passive income from Decred’s PoS ticket system. When you hold the asset, you qualify to purchase tickets. In the event your ticket gets drawn, you will get back the ticket amount with an additional reward.

Best passive income cryptocurrency reddit

On the other hand, if your ticket is not drawn, you will still get back the Decred that was invested into the ticket. If you stake Decred, you can earn 10.47% in staking rewards while the monthly staking reward stands at 0.87%.

Best passive income cryptocurrency reddit

Note that holders who participate in Decred’s decision-making get rewards for their efforts. Anyone can join the community due to sustainable funding and a resilient contractor model.

Conclusion

Over the years, passive income has been associated with other forms of online investments.

With the growth of cryptocurrencies, passive income is steadily gaining popularity with new programs coming out.

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Cryptocurrency passive income is the easiest form of income for any crypto fan. Previously, mining was the best passive income channel, but the sector has become unprofitable.

Top 5 Ways to Earn Passive Income with Cryptocurrency

The highlighted programs have proved to be among the best when it comes to earning extra monthly income. However, just like any other cryptocurrency investment, conduct your research before putting money in any program. Additionally, you should be comfortable with losing the money you invest.

 

Image Source: Bitdegree

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