Ways of Earning a Passive Income with Cryptocurrency
WHAT IS A PASSIVE INCOME
A passive income is earnings derived from an enterprise, limited partnership or rental property in which you are not materially involved. Making your money work for you. In this case I will be talking about ways you can earn a passive income from cryptocurrency.
STEEMIT
This is one we all know obviously although with this you need to put time and effort in so if you can actually call it a passive income is up for discussion.
TQS
TQS or Tradeqwik Shares are shares you can buy from the Tradeqwik Exchange of which there are only a total of 100,000, from there you earn your share of 20% of the fees collected by the exchange and are deposited into your account once a week. Not only are there great for earning they are also surely going to go up in value incredibly as the Tradeqwik exchange becomes much more popular which belive me it will.
Sign up and register for an account here Tradeqwik Registration
STAKING AND HARVESTING
Some cryptocurrencies you can stake like PIVX, PinkCoin and Peercoin for example. This involves buying the said cryptocurrency and keeping your wallet open and allowing it to stake. Earning you rewards. This is an easy way to earn passive income as it only involves you leaving your computer on and your wallet open.
Harvesting is available to NEM only as far as I know and you earn rewards from the fees of transactions on the blockchain. With NEM you can use delegated harvesting, with this you don't even need to have your computer running. You just set it to delegated harvesting and let it earn for you.
MINING
The majority of cryptocurrencies are mineable. Bitcoin, Litecoin, Ethereum, Doge and Monero are just a few you can mine using your computer.
However because of the difficulties involved and the high electricity costs involved plus high hardware costs this isn't very lucrative in fact it can cost you more in electricity ect then profits you will recieve.
One way to get around this is by cloud mining whereby you buy a mining contract with a company like Genesis Mining and they do all the work for you and you take the profit, however this can take a long time before you get a return on your investment and the increasing difficulty will force you to reinvest your profit.
One can earn a passive income this way but it will take a long time before you see a return on investment.
INVESTING
Another one we are all probably doing already buy low and watch your profit grow and grow.
So these are just some of the many ways of earning a nice passive income from cryptocurrency. So many possibilities and with cryptocurrency not even starting to get big get in now and grow your crypto balance exponentially.
it should be noted many cryptos like bitcoin cannot be mined with a computer.. the mining math for the hash gotten so competitive that you have to use a custom made electronics with chips called ASIC's even with this hardware cost you have to consider electricity and air-conditioning... in many places it is not profitable because of this overhead
Oh any mining with a computer is a waste of time if you ask me, unless you have the special equipment
Depends on the mining algo... but generally you need big enough a system.... however.... mining with hardware you already have on the side can be worth it for some.
For some it can be worth it but people just wanting to get in on it with a standard computer, I wouldn't bother
Thank you nice informative post!
Your welcome!
NEM requires a vested balance of at least 10,000, which can make it cost prohibitive and time prohibitive depending on your circumstances.
Great writeup. Nice to see a lot of options.
Oh I know, I'm harvesting with them and it's not the best really, in 2 months I've maybe harvested 170 NEM in total!
Eh, as long as your computer is on, its as passive income as you can get since you NEM isn't using PoW and burning too much CPU/GPU.
Best of luck!
You don't even need your computer on to harvest you can delegate it with NEM
Also checkout my article "How To Cloud Mine For Free And How To Grow Your Existing Coins?" (coincidentally also written the same time you wrote yours haha) .. you might find it useful :)!
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Buy low, sell high. Thank you for sharing @alexrickard86. :)