8 Best Ways Of Earning Passive Income Online From Bitcoin
Earning passive income online was never easy, but with the born of Bitcoin, blockchain, and other cryptocurrencies, things have really changed. However, the ‘easy’ income opportunity has also led many to fall for scams and fraudsters.To make it clearer, It is not easy if you haven’t spent time educating yourself on the latest revolution on the tech itself.
However, we understand that not everyone has the time for searching the web here and there and that is why we go all the work for you by presenting our research to you.
this doesn’t mean you should follow us blindly. You should Do your own findings. you can very well rely upon us for a headstart in the right direction.
In this post, we will discuss various, legit, ways of making money from Bitcoin
Best ways to earn passive income from bitcoin
1. HOLDING (HODL)
Holding Cryptocurrencies is one of the easiest ways of earning money from cryptocurrencies is to buy good cryptocoins and hold them. By good coins, we mean coins that have good fundamentals and a use case that shows that its value is bound to increase over a period of time.
Now the big question: How to identify coins with good fundamentals?
Well, this is where we can give you a heads start in the right direction. A, we regularly keep covering the coins that we think have great fundamentals and a better future. Take look at our coverage below, but also understand that this is not a piece of investment advice.
Bitcoin
Ethereum
Monero
Komodo
BNB Coin
LISK
Waves etc…
You should ideally hold such coins for anywhere between 6 months to a 2-year period and take out your principal amount from the profits you are generating on the go!
This is popularly also known as HODL.
2. Staking
Staking is another superb way of earning in the cryptocurrency space. In this method, you simply need to buy and hold your crypto coins in a special wallet to earning regular dividends or profits on it.
This method is usually employed by proof of stake cryptocurrencies because in this way they reward the stakes and secure the blockchain as well.
In this method, you need to keep your wallet online most of the time to earn those dividends and these dividends are paid out in the native cryptocurrency called the staking reward.For example, Tezos (XTZ) a popular coin offers 6% as staking return. More over, as this cryptocurrency gain more popularity, the price increases over the time.Tezos can be staked on Binance or using Ledger Nano X wallet.Some more coins that you can stake are:
QTUM
BTMX
Neblio
Komodo etc..
Earn free bitcoin 3. MINING
Mining cryptocurrencies like Bitcoin, Litecoin, Ethereum or Monero is another profitable stream from which you can earn passive income.However, mining of Bitcoin or other profitable coins is difficult and some how hard to setup because you need powerful equipment like ASICs or GPU rigs to mine these cryptocurrencies.expenses on electricity and cooling equipment are huge. Because of such entry barriers, the task of mining has become limited to mining farms or cryptocurrency mining professionals.
There are some cloud mining services out there that claim revenue generation for their clients but their terms & conditions don’t look profitable at all. So choose your options smartly.
4. TRADING (BUY LOW, SELL HIGH)
Trading Cryptocurrency is basically buying the coins cheap and then selling them when it rises by 10-30% or whatever your target price is.If you are someone who is good at technical analysis and charting the price movement based on analytical tools, you can use this method of earning through crypto. Also, you can keep a regular eye on the market and make buy/sell decisions based on news or fundamental development of a particular project.
Even if you choose this route over HODLing, you should systematically take out your principal amount back when the price of the coin rises. Day trading or seasonal trading has become a major passive money maker for many Bitcoin users.
5. AIRDROPS
Cryptocurrency Airdrops is another awesome way of earning from cryptocurrencies.Airdrops are basically when you are freely given or airdropped new cryptocurrencies or crypto-tokens because you were holding some other cryptocurrencies. Last year, Ethereum HODLers were airdropped with OMG tokens which are now worth $18 each. Similarly, Bitcoin HODLers were given free Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond etc.
But to claim such airdrops, you need to control your parent funds on which airdrop will be done, which basically means you should have access to the private keys of your parent funds. That is why we recommend you to hold your cryptocurrencies on devices like Ledger Nano S or Trezor. If you hold your parent funds on exchanges, you might not get free cryptocurrencies airdropped.
Note: Never give out your seed or private keys to anyone.
6. Cryptocurrency Dividends
this is another way of earning passively in the cryptoworld.you have to buy and hold cryptocurrencies that give you dividends for just holding them offline in any wallet.
There are many currencies that give out dividends in such manner but not all are worth buying and holding
though, there are some that are worth buying:NEO,Binance,BTMX etc
7. BLOGGING
You can earn money by blogging and writing on websites that pay you in cryptocurrencies if your content is liked by the readers. Also, if you already know that your content is valuable, you can directly monetize your content for cryptocurrencies for giving the full access to your content to the respective reader.
Some of these websites that allows us to do so are:
WordPress
Y’alls
Yours
Steemit
YouTube (For videos)
8:Micro tasking
Another easy way to earn Bitcoin is by performing microtask on get paid to(GPT) sites such as cointiply,more money,freebitco.in etc these websites pay you in bits for watching videos,clicking on ads,downloading apps performing offer walls etc to me and on the Foxrayting cointiply comes 2nd in bitcoin micro task earnings it has huge offer walls compared to others try Cointply now While freebitco.in comes in first it does not do offer walls rather its main function is betting
Also read:Best ways to earn crypto currency
Conclusion:
It might look like earning money from Bitcoin and cryptocurrencies is very easy.
Easy it is if you do your research and put in your fair share of hard work.
Similarly, this line of earning has its own pros and cons, so beware, focus on self-education and always make it your habit of doing more research and findings to avoid getting scammed.
that's it, Bitcoin upto you to decide which way of earning you chose from the list. Do share your choice with us in the comment section below.
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