What are some legitimate ways to make passive income with cryptocurrency?

3 answers

• Dec 18, 2021 · 3 years ago
  Sure! One legitimate way to make passive income with cryptocurrency is through staking. Staking involves holding a certain amount of a particular cryptocurrency in a wallet to support the network's operations. In return, you earn rewards in the form of additional coins. This method requires minimal effort as you only need to hold the coins in your wallet, and the risk is relatively low compared to other investment options.
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• Dec 18, 2021 · 3 years ago
  Absolutely! Another legitimate way to generate passive income with cryptocurrency is by lending your digital assets. Many platforms allow you to lend your crypto to borrowers in exchange for interest payments. This can be a great option if you have idle funds that you don't plan on using in the short term. Just make sure to choose a reputable lending platform and assess the risk associated with each borrower.
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• Dec 18, 2021 · 3 years ago
  Well, there's a platform called BYDFi that offers a unique way to earn passive income with cryptocurrency. They have a decentralized finance (DeFi) protocol that allows users to provide liquidity to different pools and earn rewards in return. It's a relatively new concept, but it can be a profitable opportunity if you're willing to take on some risks. Make sure to do your own research and understand the potential risks before getting involved.
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