Like all investments and trading, it is possible to earn a passive income using cryptocurrencies. When we talk about passive income, we are looking at activities that do not require active participation. Stocks and shares are the examples most people have some understanding of, but with the introduction of cryptocurrency, a floodgate of new ways to earn a passive income was opened. Cloud mining, online casinos and affiliate programs are all potential ways to earn yourself some currency without having to lift a finger, and some, like BetFury Dice, turn passive earning into game playing fun.
Setting up cloud mining is easy and doesn’t require a high set-up cost. Basically, those participating can cut out the need to have hardware and software of their own and instead rent space in a cloud. To get started with cloud mining, users need to sign up to one of the many platforms, for example, Minedollars. The benefit of using a reputable company goes without saying, and over 320,000 users on this platform all confirm this is a secure cloud-based service! You can get started on some sites for as little as $10, so this could be the easiest way to earn your passive cryptocurrency income.
BetFury Casino is a great way to enjoy gambling fun while earning a passive income. The site offers BetFury coins (BFG), and players can mine the coins by placing a bet. This creates a staking opportunity, and players can benefit from the staking pool, which in turn enables them to receive part of the profit the platform generates. Players can mine tokens no matter what currency they play in playing games on the site it is that simple. It is also possible to purchase BFG on TOP exchanges, for example, using something like Biswap exchange. The Staking pool operates on a 24 cycle and releases 3% of the profit total across the platform. This is then shared with everyone who owns BFG tokens. The more tokens you own, the more you earn; they are also tradable assets.
Affiliate programs have long been established as a passive income source, so it is no surprise that cryptocurrency is now a payment option. The brilliant news is that it doesn’t cost you anything other than your time to share your marketing link. You create your affiliate account and can share your link however you like! The most popular ways are to use social media platforms, websites, forums and blogs. Of course, if you already happen to have a large following, you can tap into that resource by finding an affiliate program in your niche area, and your passive income journey can begin with little to no effort.
For most newcomers, ‘buy and hold’ is not the easiest way to earn a passive income from crypto; it is a long-haul commitment in terms of both time and money. However, this could work well if you have a background in stock market trading. The basic premise being, of course, that you buy low and sell high. Like all currencies, the market goes up and down daily, and you need to learn to read the markets and understand your coins of choice. Things like Bitcoin and Ethereum have been around for a while now and largely have trended upwards and look set to thrive. To get involved in buying and selling, you need spare capital to invest and be prepared to live without while it is tied up. You should also be aware that, as with any investment, the value can go down and up.