Top Best Ways To Make Passive Income With Crypto
Introduction Of Top Best Ways To Make Passive Income With Crypto
Top Best Ways To Make Passive Income With Crypto. Top ways to earn passive income with cryptocurrencies I’ll be going through some strategies that not a lot of people talk about especially when it comes to earning money with crypto so yeah make sure to watch until the end because I’m sure that you’ll be able to take action and start making money using these methods let’s get started so the first method that you guys can start earning passive income using cryptocurrencies is through affiliate marketing more specifically affiliate marketing through coinbase a lot of people don’t know this but coinbase has a really easy refer friend program.
That allows you to receive ten dollars in bitcoin every time you refer someone literally anyone
That allows you to receive ten dollars in bitcoin every time you refer someone anyone with a coinbase account is eligible and they can refer their friends they can refer other people and yeah it’s just a great way to make some passive income so I have the coinbase app pulled up on my phone right now and this is my main dashboard if I go to settings on the bottom right and I click this button right here that says share love of crypto and get ten dollars of free bitcoin that’s gonna take me to this page and you’ll see that it says you’ll both get ten dollars in free bitcoin when your friend buys or sells a hundred dollars of crypto.
So if you share this link right here and someone else signs up and then buys ourselves a hundred dollars of crypto then both of you guys are gonna get ten dollars in free bitcoin and if you guys take a look here at my notifications these are all the people that are using my link and you’ll see that the amount of bitcoin I’m getting changes because it’s based on the spot price they’re going to send me 10 of bitcoin at the current market valuation so a few months ago you know I was receiving way more bitcoin per referral than I am right now so if you do believe in crypto for the long term then every ten dollars you’re gonna get right now could be worth a lot more in the future but the reverse is also true it could also go down in price and every ten dollars could become something less if bitcoin crashes.
Now that’s not the only way you can make money through coinbase by referring your friends coinbase does have an official affiliate program that pays you a certain percentage of trading fees so if you guys take a look at the coinbase website you can see become a coinbase affiliate anyone can join um basically how it works is when you become an affiliate you get to apply I’m not sure how big of an audience you need to get approved but I don’t think it’s going to be too big then you’re going to promote that link and then you’re going to earn commissions whenever someone uses your link and opens up an account.
How this program works is you’re going to get 50 of their trading fees for the first three months
So basically how this program works is you’re going to get 50 of their trading fees for the first three months so you could luck out and get someone that trades a lot um coinbase’s fee is pretty high so if someone is buying and selling a lot of crypto after using your link to sign up then you will probably make a good amount of money however if you’re referring someone that is pretty inactive and doesn’t do too many trades then you’re probably going to come out ahead using the other referrer friend method so like I said I’m mostly using the refer friend method because I prefer the 10 of bitcoin but if you’d rather do it.
This way this is another great way to earn passive income so yeah if you guys don’t yet have coin base and you want to start earning passive income using it I’ll put my link for it below and if you use that link you will get 10 free bitcoin and you’ll also be helping to support the channel as well now to be successful with this you need to share your link with all your friends who do not yet have a coinbase account and I think a lot of people right now are not yet trading cryptocurrencies so the potential number of people that you guys can invite could be quite high if you do have a youtube channel or some type of blog then I recommend making relevant content and sharing your link the more eyeballs you get and the better your content the more conversions you’re gonna get so last month I referred 182 people and I made 1 820 that number is probably.
A little bit higher now since crypto has gone up but if you guys look at my previous months I referred about 300 people and made about 3 000 from that so this is very passive income you just need to make the right types of content or share with the right people and it is a win-win because you get ten dollars they get ten dollars and they start investing in crypto which I do think is extremely important right now okay the second way that you guys can earn significant passive income from crypto is by lending out crypto through a platform called block by this video is not sponsored by them or anything I’m just a really big fan and I do think that they are great for anyone.
I have to do is put my crypto into a blackfly interest account
That wants to make passive income through their crypto holdings so basically blocks is a cryptocurrency exchange that allows you to earn up to 8.6 interest on your crypto so if you compare that to an online savings account that normally barely breaks one percent interest it’s pretty clear why I’d rather put my money here now I’m not lending it to people on my right they are going to take care of all the lending for me so all I have to do is put my crypto into a blackfly interest account and then they are going to handle everything for me and then just pay me a certain percentage based on the coin so if you guys haven’t heard of block five they are a huge company they’ve raised millions and millions of dollars in funding and that’s one reason why I do trust this company with my money.
So if you guys go-to products and go down to the block five interest account that’s the main product that I will be talking about uh in this video so with a block fi interest account your cryptocurrency can earn up to 8.6 percent pay and your interest is going to accrue daily and it is paid monthly so there are no hidden fees uh there’s no minimum bounces and okay they’re saying there’s no reason to wait which I do agree so they do have a quick little calculator right here and what it allows you to do is you can select your crypto you can select the amount you’re putting in and you can select how many years you want to put it there for so right now we’re on guard basically what this is is you’re putting in dollars it’s converting into the Gemini USD coin and that is backed by the dollar so if we select.
That we’re gonna put in ten thousand dollars uh and hold it there for ten years it’s going to earn us one thousand two hundred eighty two dollars and one cent uh per year and then after those ten years it’s gonna earn us almost thirteen thousand dollars in interest now if you don’t want to hold that long for example one year you’re going to make 860 um let’s go to bitcoin so one bitcoin right now is like 62 000 or something so let’s say you put in one single bitcoin right that means that you’re going to be getting 3783 of interest per year by earning 0.06 bitcoin and if you hold there for five years you’re gonna actually make over twenty thousand dollars they have a bunch of different other coins here so you can do ether you can do litecoin and each of these coins is going to have a different apy so.
If you have between zero and one bitcoin deposited you’re gonna make six percent apy
If i scroll down here and i go to see our interest rates this is actually going to show you all the different coins and how much apy they are paying out right now so with bitcoin if you have between zero and one bitcoin deposited you’re gonna make six percent apy but if you have over one bitcoin then it’s gonna actually go down to two percent uh and zero point five percent if you have over 20 bitcoin i also have ethereum in here so if you have between zero to 100 ethereum it’s gonna get you five point two five percent currently if you have litecoin you’re gonna get six point five percent um i have a bunch of gusd in here so that’s gonna get me eight point six percent flat rate so yeah if you guys are interested just check out the website and see how much money your crypto holdings could make.
So now if you’re interested in seeing what the whole dashboard looks like i’m inside of my account right now um you can see i have almost 200 000 dollars in my interest account and if i click this it’s going to take me to my interest account and you can see right now i have 2.07 bitcoin in my balance and that’s about 130 000 worth um i’ve earned a total interest of 907 and the accrued interest is how much money i’ve made since the start of the month so since the start of this month i made 184 dollars i also have ethereum so if i go here you can see i have about 20.8 ethereum i’ve made 285 dollars of passive income from this and the apy is 5.25 i also have some money in gusd so i have about twenty thousand dollars in here i’ve made 92 dollars and 69 cents and since the start of this month.
I’ve earned 47 dollars and 74 cents and block by even has their own refer your friends program which will allow you to make ten dollars peripheral that puts in a hundred dollars or more i’m also going to drop my link below for block fi and if you use it you can get up to 250 for opening up your account and on top of that you’re gonna start earning passive income through your crypto holdings so the third way to make passive income through your crypto is by mining so if you’re not familiar with bitcoin mining basically you are receiving bitcoin as a reward for completing blocks of verified transactions which are added to the blockchain if that doesn’t make sense.
A result you are going to be earning bitcoin for that right now
Which it probably doesn’t you’re basically getting a computer with a good graphics card and that graphics card is going to be doing a bunch of calculations and things and as a result you are going to be earning bitcoin for that right now i have friends with a pretty basic machine that make at least seven dollars per day doing this and that’s why i will be doing this as soon as my mining rig comes in which i already purchased so now what is a mining rig right now mining bitcoin is quite competitive there are a lot of people trying to mine bitcoin so you will need a powerful computer with a strong graphics card or you will need an application specific integrated circuit dedicated rig.
Now for most of you guys watching if you do want to mine you will probably just get a strong computer with a good graphics card you’ll start off small with just one rig but if you guys look at some of the big bitcoin mining companies like wright blockchain they literally have thousands of these rigs set up in their warehouse the profit you get from mining bitcoin is you take your bitcoin mind which is a certain dollar amount and you subtract the electricity costs if you didn’t know mining bitcoin takes a lot of power so electricity can actually be a pretty big cost and you also have your supplies you have the land you have the management there are a lot of things that go into making sure a mining rig is working properly so i kind of want to try and explain.