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The cryptocurrency market is inextricably linked to speculation, which in itself proves that it is not a profession for people with weak nerves. It is possible not only to eat your teeth on bitcoin and altcoin trading, but also to become completely bald and even bald.
Fortunately, being active participants in the cryptocurrency market, we are not at all doomed to trading. In the latest episode of "Heard Under Bitcoin ATM" I present 5 ways to make money in this market without actively trading digital assets.
Assuming that you own a certain number of cryptocurrencies, you have several options for directing your portfolio in such a way that these funds continue to earn for themselves.
The blockchain ecosystem offers us a multitude of decentralized finance (DeFi) solutions where we can make money from being a part of it.
The most well-known option, of course, is staking, which is the scraping of interest from the fact that our tokens are locked in a certain pool.
It's definitely better than keeping your money in the bank on deposit, from which the interest is ridiculously low on an annual basis, and considering the inflation tax, you don't really gain anything from it. In the case of stake'owing tokens, it is completely different.
Another alternative is to feed the liquidity of decentralized protocols, for which we receive bonuses in the form of various tokens.
Yield Farming, as the process is called, can be very profitable, but the volatility of the pairs' prices can lead to what is known as an impermanent loss, a temporary loss if the value of the cryptocurrencies we supply to the pool falls below the levels when we locked them in.
It is said that by having a private key to the addresses where we store our cryptocurrencies, we are a bank ourselves. And by all means this is an apt comparison, but what is a bank that is unable to lend?
In the world of cryptocurrencies, lending in the form of this asset class is also possible, and we can profit from it by lending our funds to feed the loan pool.
The above options are, of course, contingent on the fact that we own a certain number of cryptocurrencies. However, what if we don't have anything that can earn on its own, generating passive income?
The answer is airdrops, or token drops for the most deserving members of a community. Sometimes you just need to be in the right place at the right time.
Airdrops are free tokens that are awarded for meeting simple conditions, such as registering, using a wallet or being active on a project's social media.
You probably heard more than once in school that in adulthood no one will pay you to wander around and do various activities, such as playing. Nothing could be further from the truth!
Today, there are a plethora of apps on the market that reward their users for playing various games(play to earn) or performing activities such as... walking.
Yes, there are platforms that, depending on the number of steps or exercises you complete, award you a certain pool of tokens.
