Want to make money with almost no effort? Well, you can earn a passive income from crypto if you’re willing to make a few trade-offs.
Earn a Passive Income from Crypto
As the cryptocurrency industry matures, more services and innovations are cropping up to allow you to make the most of your assets. Just as what savers and investors do in traditional finance, crypto holders can also make their coins work for them if they want to do more than patiently HODL.
Mining may no longer be profitable for individuals on most coins and scouting out for airdrops is a bit passe. So, here’s a list of the top three ways to earn a passive income from crypto in 2019.
1. Earn Interest on Your Crypto
If you’re willing to part with your private keys and keep your crypto on a crypto lending platform, you can earn interest on your BTC, ETH, and several other coins and tokens by opening an interest account with a company like Celsius Network or BlockFi.
The above-mentioned companies have no lock-up periods or minimum deposits. However, the amount of interest you earn will obviously vary with the number of coins you have. BlockFi, for example, pays and Annual Percentage Yield of 6.2% on 0-5 BTC, but just 2.6% on anything over 5 BTC.
If you don’t have significant crypto holdings, another way to make your money work for you would be to convert some fiat into a stablecoin such as TRUEUSD. Rather than earn next to nothing in your bank, you can get up to 10% per annum at Celsius Network. You can also take out a loan using your crypto as collateral if you need access to fiat.
Be sure to do your own research before thinking about storing your crypto on any platform.