Crypto Passive Income Guide - 2021
Updated: Feb 8
“If you do not find a way to make money while you sleep, you will work until you die.” - Warren Buffet
Trading is one way to make money in the field of cryptocurrency but there is no assurance that you will book a profit. Trading also involves substantial research and it consumes time. The market often gets converted to bear mode from a bull mode. The green candles change their colour to red very fast. Even a pro-investor makes losses in the cryptocurrency market sometimes due to unpredictable price volatility. What is the way to make a reliable flow of money in cryptocurrency? Yes, It is possible to earn cryptocurrency by methods other than trading. Over a period of time, the income can really be very significant. This article will take you through some popular methods which you can use to earn passive income in cryptocurrency.
Staking is a very simple way to earn passive income from your cryptocurrency. If you see high potential in a staking coin, it is wise to go for staking. No hardware is needed for staking and you can stake using your private wallet or a pool. Some centralized exchanges also offer staking services nowadays. Let us analyse some popular staking options.
Cakedefi pool: Cakedefi offers pool staking. The options are limited but the web interface is simple. Presently they are offering staking service for DFI, PIVX, XZC, DASH. KYC is needed. You get $20 worth of DFI when you sign up and make a deposit of $50 or more. If you use this referral link, you get an extra $10!
Atomic Wallet: Atomic Wallet is a non-custodial multi-coin wallet. Both desktop and mobile wallets are available and you get your private keys. Presently Atomic Wallet offers staking service for ZIL, ADA, AWC, ICX, ATOM, XTZ, TRX, BAND, NEO-GAS, KMD, ALGO, VET-VTHO. NO KYC needed.
Trust Wallet: Trust Wallet is another popular non-custodial multi-coin wallet. Only the mobile wallet is available now. Trust Wallet allows you to stake many staking coins like TRX, XTZ, ATOM, VET, CLO, KAVA, TOMO, IOTX and ALGO. No KYC needed.
Binance Staking: Binance is the largest cryptocurrency exchange. They also offer staking option for so many cryptocurrencies. The staking APY is also decent.
Stakecube: Stakecube website offers pool-based staking. The platform has 60 coins and 68803 users. You can stake many small-cap staking coins here. The platform also has an integrated exchange. You can do an experiment to stake some small coins but it is not suggested to put large fund here.
BlockFi: BlockFi is a popular platform that allows you to earn up to 8.6% annually on your cryptocurrencies. BlockFi was founded in August 2017 and the organization is based in Jersey City, New Jersey. The company raised $158.7 million up to Series C fundraising. BlockFi is backed by big investors like Consensys, Coinbase Ventures and Winklevoss Capital. The service of the platform can be availed through their mobile app or website. Presently BlockFi supports BTC, ETH, LTC, USDC, GUSD, PAX, PAXG, USDT. The compound interest is paid at the beginning of the month. BlockFi currently offers 1 free cryptocurrency withdrawal and 1 free stablecoin withdrawal per month. The platform also has a swap/trade feature where you can swap your cryptocurrency to another. If you use this referral link to sign up and deposit $100 or more into the BlockFi Interest Account (BIA), you will earn $10 in BTC. KYC is needed.
Celsius: Celsius is a financial services platform by Celsius Network for the cryptocurrency users. The organization has offices in Tel Aviv, London and New Jersey. It connects crypto asset holders with borrowers and helps to earn interest on the crypto assets or get a loan against it. There is no lockup period for the deposits. You can withdraw whenever you want. It acts as your bank savings account. Penalties and bank-style fees don’t exist. There are no other hidden fees too. The app acts as your wallet too. You can simply hold assets there and earn interest. The interest is paid weekly basis. Celsius is offering 4.74% APY on Bitcoin and 5.05% APY on ETH deposits now. KYC is needed. You can use this referral link when signing up and earn $20 in BTC with your first transfer of $200 or more.
CakeDefi: Cakedefi, registered in Singapore, has the core service in its Lapis lending products. The platform was launched one year back with the vision of providing lending and borrowing service. You can deposit BTC, ETH and USDT and earn 7.5% APY for BTC and ETH and 8% APY for USDT. Your principal and returns are fully guaranteed and risk-free with potential bonuses. You are able to enter with any crypto amount of your choosing. Once you decide on your entry amount, your crypto will be locked in option contracts for the next 4 weeks. After the 4 weeks period of the batch, you will have the option to auto-compound into the next batch. You can also withdraw only your proceeds, or your entire principal + returns to your account. Lapis does not charge fees from users. KYC is needed. You get $20 worth of DFI when you sign up and make a deposit of $50 or more. If you use this referral link, you get an extra $10!
Reading & writing blogs
Publish0X: Publish0x is a publishing platform where both authors and readers get paid. It was launched in December 2018 and gained the stream of popularity very fast. Publish0x is crypto agnostic. Anybody can become a reader by simple registration but to be a writer, you need to apply. A writer can create his/her own blog here and post articles on various topics. Upvotes are not used for earning on Publish0x. There is a tipping option. A reader can tip the writer from a cryptocurrency tip pool. The pool most probably comes from the sponsors of the Publish0x. Presently tipping is done from the pool of BAT, FARM, AMPL & ETH. The reader can choose the percentage of the tip to be given to himself/herself and the writer. Publish0x is a no ICO project and they do not have any own token. You can find top-notch posts on this platform.
Steemit & Hive: Steemit is the first decentralized social media or publishing platform in history. It has Delegated Proof of Stake (DPoS) mechanism which protects the blockchain. The contents published are immutable here. Hive is a fork of Steem and the blogging platform on Hive blockchain is also called Hive. You can earn cryptocurrency for blogging or curating on both platforms.
read.cash: read.cash is a blogging platform where you can earn some BCH by producing content on the platform. The present traffic to the site is a bit low but you will get a variety of contents.
TORUM: TORUM is a collaboration between multifunctional crypto powered social media platform and an integrated crypto exchange. TORUM ecosystem is powered by XTM, an ERC-20 token. XTM is the native currency of the social media ecosystem. The platform is similar to Facebook and you get free cryptocurrency for your social media activity. The platform has a nice user interface and it is growing rapidly.
Uptrennd: Uptrennd is a social platform a bit similar to Steemit. On Uptrennd you get paid for every upvote received on your post. 1UP is the native token of the platform and it is listed on some exchanges. The content quality is not very high on this site.
Web Browsing through Brave browser
Brave Browser is a simple browser just like google chrome (3 times faster than chrome) but it comes with several features to improve your web browsing experience. The browser comes with built-in ad blocker and makes your web browsing experience awesome. Brave is available to download on Windows, macOS, Android, and iOS operating systems. If you enable Brave ads, you can earn BAT token for viewing ads while you browse. Please remember that BAT is a top cryptocurrency project.
Using Presearch instead of Google
Presearch did their ICO in 2017. It was born from the realization that Google was attaining monstrous power. Google’s market dominance was already killing competitions. The alternative of Google can’t be another Google. Could there be a decentralized alternative to Google? Presearch saw the day of the light with this thought. PRE is the native token of Presearch. You can use Presearch (mobile app/browser extension) and get some free PRE tokens for searching. PRE is listed on several big exchanges. Presearch also has a nice referral scheme.
Learn & Earn
Coinbase Earn: Coinbase is a top cryptocurrency exchange with 35 million+ users. They offer a learning programme called ‘Coinbase Earn’. It is basically an incentive program that gives chance to a Coinbase user to learn and earn cryptocurrency without investing. If you are a newbie in this field and want to have a good understanding of cryptocurrency, this program is a perfect start for you. To avail of the programme, you need to have a Coinbase account.
Coinmarketcap Earn: Coinmarketcap Earn programme is a fun way to learn about cryptocurrency and earn free assets. The assets get distributed to your Binance account. You just need to provide with your Binance user ID after completing the related quiz.
There are so many crypto lottery sites and maximum are scams. Please DYOR before entering into any lottery site. Pooltogether provides lossless lottery game leveraging the Ethereum blockchain. You can convert your preferred cryptocurrency to DAI and deposit it into the pool to claim your tickets for the weekly draw. 1 DAI = 1 PoolTogether lottery ticket. The funds for the reward pool come from the interest of all DAI deposits made by the participants. There is no chance to lose your original investment and you can withdraw if you want. No KYC is needed. You can join Pooltogether from your private Ethereum wallet using any web3 browser.
Airdrops & Faucets
Airdrops and faucets are a good way to earn passive income in cryptocurrency with zero investment. Please be cautious about fake airdrops and providing confidential information to any project. Airdrop hunting is really laborious. If you don’t have enough time, avoid hunting for airdrops. Various faucet sites are there which gives you free crypto and they generally make money from the web advertisements. Again, consider if you have enough time to take part in such activities or not.
Universal Basic Income
Many universal basic income crypto projects have appeared recently. Multi-asset brokerage platform eToro has begun a new experiment called GoodDollar. The project issues a stablecoin ($G) which is distributed daily to all registered users as Universal Basic Income. A project called Circles, running on xDai chain, generated good interest also.
There are really so many passive income options in cryptocurrency. This article tries to compile the popular ones and may miss quite a few options. If you want to make a crypto asset gain without any monetary investment or want to make your idle asset productive, you can definitely look for generating some passive income stream. Every option may not fit everyone’s need, so please judge what suits your requirement. Also, please DYOR before opting for any of the projects cited in the article.