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Passive Income: 5 ways to obtain it with cryptocurrencies
You have a salary, the profits from your business and even some savings, but there are ways to earn money 24 hours a day and without investing so many hours of work. Passive income is something that everyone can access, but very few know exactly how to do it.
Cryptocurrencies are one of the easiest, fastest and most technologically advanced ways to earn passive income available today. Now we will mention 5 easy ways to access this type of earnings without investing a lot of time.
First of all, what is passive income?
Passive income is income that is received on a periodic or recurring basis, without the need to use a lot of time or work previously done.
Unlike active income, where you are paid for an established time or work, passive income is obtained from time to time. Of course, at the beginning it is necessary to allocate resources or time to create that source, but when it is ready, it is only necessary a constant maintenance to continue obtaining them.
In many occasions passive income is known as 'the way money works for you', because when you obtain it automatically, you are generating profits even while you sleep.
Main differences between passive and active income
This concept is often confused, since for many people profits are earnings. But, to help you in this process, we want to establish them as follows:
- Active income is income to which you put effort and time on a regular basis. For example, in a job you are paid a salary for 15 or 30 days of work.
- Passive income is income that generates economic benefits without the need to do any ongoing (but initial) work. For example, monetizing on social networks, renting an apartment or investment income.
Some examples of passive income
In the world there are many examples of passive income that everyone can earn. The most popular ones are:
- Social media monetization: Twitter, YouTube, Facebook and more offer earnings to their content creators based on the number of followers they have.
- Real estate or property rentals: apartment, house, office or car rentals are a very common way to earn passive income.
- An online store: creating and investing in an online store or Ecommerce generates daily passive income.
How to generate easy passive income? Cryptocurrencies are an excellent option!
Maybe you don't have the creativity to be a social media star or you don't have a lot of money to invest in a real estate or online store, but that doesn't mean you can't generate passive income right now.
Cryptocurrencies have become a very easy and fast way to 'make money while you sleep'. The good news is that you don't need to be an expert in trading to get them. Here are 5 ways you can use them today.
1 - Bitcoin Cashback
When cryptocurrencies started to become part of people's daily lives, many concepts of traditional finance also adapted to the digital world. Surely you know Cashback, which is a percentage of your purchase that is returned to you, and is usually closely associated with credit or debit cards.
Now with cryptocurrencies, cashback has been modernized, since instead of being offered in dollars, Mexican pesos or any FIAT currency, it is offered in Bitcoin, with the important advantage that it increases in price over time.
How to obtain it? It's easy, as you just need to choose a good credit card that offers you an excellent Cashback in Bitcoin program. A great example is TruBit Card, which offers you up to 5% Cashback on a regular basis and, with promotions, you can get up to 30%. Are you going to miss it?
2 - TruBit Earn+
Earning interest with cryptocurrencies is one of the first activities that users used to earn money passively. What is it about? Simple: you put your favorite cryptocurrency into an interest program and every so often some tokens will be deposited to you.
The above sounds easy enough, but how about making it much simpler. TruBit Gana+ is one of the best programs for passive income in cryptocurrencies, as you just need to have your tokens in TruBit Wallet and they will start earning money.
In addition, the earnings will be deposited to you daily, so you will have maximum control over your earnings.
3 - Cryptocurrency affiliate programs
What happens if we combine social networking and community strategies with cryptocurrencies? Affiliate programs are not something new in the internet world, since for each referred user you will get passive earnings.
In the crypto world it is one of the most popular ways to generate income, as cryptocurrency platforms offer a percentage of the profits that referrals make in activities such as trading, staking or even futures.
If you have a community of cryptocurrency enthusiasts and want to take advantage of it, affiliate programs are certainly an excellent option.
4 - HODL
Cryptocurrency trading is one of the most used activities within any cryptocurrency exchange. But out of the vast world of trading, HODL is the best way to earn passive income, as you don't really need to keep a close eye on the charts or daily price changes.
What does HODL mean? It's about buying a cryptocurrency (usually a high value one like Bitcoin or Ethereum) and waiting for its price to go up, no matter how long it takes (months even). When the price is very good, then you can choose to sell and that's it, you get profit just for your patience.
The price of Bitcoin and other cryptocurrencies fluctuates practically every second. But, with HODL (or Holdear) activity, you just need to watch the price every so often to wait for a suitable value to sell and make a profit.
5- Staking
One of the most profitable ways to earn passive income with cryptocurrencies, but it has a disadvantage: unlike the previous 4, this one requires previous knowledge in the ecosystem.
By participating in the validation and maintenance of the crypto system, the rewards are very profitable. Staking is basically about keeping a certain number of cryptocurrencies to make a network profitable, and as a reward you are rewarded with tokens.
If you want to know more about Staking and all that this activity entails you can read the following 👇
Conclusions
Passive income is an activity that, without much effort, generates that extra income you need for your plans. There are many ways to do it, so you have to find that specific opportunity for you. All that's left to do is try, because today's work generates tomorrow's rewards.
But in this digital world, there is an excellent way to earn passive income thanks to cryptocurrencies. There are 5 ways ranging from the easiest like cashback, to sustainable support to a network to get rewards.
The advantage is that in a single application you can take advantage of earning passive income while you sleep. With TruBit and TruBit Pro, you will get Cashback, Interest, participate in affiliate programs and of course do activities like HODL and Staking.
You may also be interested in reading
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- Passive Income: 5 ways to obtain it with cryptocurrencies
- First of all, what is passive income?
- Main differences between passive and active income
- Some examples of passive income
- How to generate easy passive income? Cryptocurrencies are an excellent option!
- 1 - Bitcoin Cashback
- 2 - TruBit Earn+
- 3 - Cryptocurrency affiliate programs
- 4 - HODL
- 5- Staking
- Conclusions
- You may also be interested in reading