Crypto Passive Income - My Experience - page 2.

The Sceptical Chymist

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Quote from: barbara44 on June 26, 2021, 12:45:39 PM

It might sound funny to some but these are through some of the offers I get via emails, one such recent offer I got via email was a 20% deposit bonus and only a minimal 1x rollover from a gambling site. I know these are exclusive and might be never coming back again so I don't miss these chances.

I don't know what a "minimal 1x rollover" is, but if I were you I'd be careful about any e-mail offers you get. You might have gotten lucky with that particular one (though you didn't quite say), but my guess is that most of them are just scams.

Quote from: TheGreatPython on June 26, 2021, 02:45:47 PM

If anyone is not aware you can go to the lending section of this forum and give out loans but make sure you have good knowledge of what is valid collateral because borrowers will try and trick you through multiple ways.

Lending isn't exactly a way to earn passive income, because you have to go through all the trouble to create and maintain the lending thread, deal with the collateral (if you're lucky enough to get any from a potential borrower), and then make sure the person pays you back. It's a hassle, and the whole point of earning passive income is to avoid the headache of all that.

That's why staking is a perfect example; you don't have to do anything more than buy a certain amount of coins and then keep your wallet running to maintain the network. There's really no effort required once you set everything up. I get that you can't do it with bitcoin, but there are certainly decent altcoins that you could stake and not have to worry too much about the price crashing through the floor.

Btcvilla

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Don't really want to invest in centralized crypto projects (especially long-term) with little to no decentralization, transparency, censorship resistant, immutablity, privacy/anonymity, permissionless/trustlessness, network consensus, etc.
Those are good ideals one need to hold strong to in Crypto space for safe transactions.

I agree with you...Never want to play centralized crypto for the long term specifically. Because we never know what this coin will be like. Its fluctuating nature, so I divide it in the bebara and who have a good future.

TheGreatPython

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How would they get experience if you don't recommend farming? Also to OP, is cloud mining still a thing? Pretty sure that it is a scam that has been proven a long time ago, for me staking and bankroll investing is a good way to make some decent money without having to stretch my muscles.

If you could put some light on bankroll investing it might help me and some other fellow members because bankroll is usually the word gamblers use to represent their balance and I am not sure how one can invest his bankroll to earn money. If you mean by investing into casino's bankroll, I would say it is one of the riskiest ways of earning money because there have been quite a few scams in past and the last one I remember which allowed players to invest and ran away with funds was dicebitco(dot)in (pardon me, if I am wrong please) so I would be very careful with such things.

Cloud mining like you said is a thing of the past and no genuine portals allow it anymore. If anyone is not aware you can go to the lending section of this forum and give out loans but make sure you have good knowledge of what is valid collateral because borrowers will try and trick you through multiple ways.

livingfree

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Quote from: sapnu on June 26, 2021, 11:04:04 AM

Crypto offers lots of options on how you can earn passive income continuously just by being smart and wise on picking certain ways. Nevertheless, upon picking such ways, make sure that it is worthy and it would be safe and secured. Having a passive income most likely end up being left without guidance since it is passive. Always make sure that you can certainly trust such ways, it will be worth it for sure as time passes by. Be wise and smart upon picking, so that your profits and earning will get higher and higher as time passes by.

That's the beauty of having passive income.

You do something else and the one that you've planted with those investment choices, the legitimate investing techniques will grow on their own.

Generating you potential unlimited income as long as you know how it's working. It may not that be much but additional little income grows exponentially over time.

barbara44

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Quote from: sapnu on June 26, 2021, 11:04:04 AM

Crypto offers lots of options on how you can earn passive income continuously just by being smart and wise on picking certain ways. Nevertheless, upon picking such ways, make sure that it is worthy and it would be safe and secured. Having a passive income most likely end up being left without guidance since it is passive. Always make sure that you can certainly trust such ways, it will be worth it for sure as time passes by. Be wise and smart upon picking, so that your profits and earning will get higher and higher as time passes by.

I agree and there are certain risks involved when one wants to either earn interest on his coins by staking or other means. I am glad that OP avoided cloud mining though because most of the cloud mining sites I was aware of have turned into a scam and most of the Ponzi nowadays are claiming themselves to do cloud mining and that is reflected from the improbable interest they seem to offer.

I personally avoid even staking because I just want to control my coins but I do have a few ways by which I earn extra coins on top of the coins I have and the risk is almost zero. It might sound funny to some but these are through some of the offers I get via emails, one such recent offer I got via email was a 20% deposit bonus and only a minimal 1x rollover from a gambling site. I know these are exclusive and might be never coming back again so I don't miss these chances.

sapnu

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Crypto offers lots of options on how you can earn passive income continuously just by being smart and wise on picking certain ways. Nevertheless, upon picking such ways, make sure that it is worthy and it would be safe and secured. Having a passive income most likely end up being left without guidance since it is passive. Always make sure that you can certainly trust such ways, it will be worth it for sure as time passes by. Be wise and smart upon picking, so that your profits and earning will get higher and higher as time passes by.

wxa7115

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If something sounds "too good to be true" than you should consider the obvious: it is not true

And yet this simple advice that has passed the test of time is ignored time and time again not only in this market but in almost any situation we could find ourselves in.

People need to learn that if they want to obtain profits out of the market then they need to make an effort to do so and if they do not then then it is going to be impossible for them to reach their goals, and yet time and time again people think they can outsmart the market and generate some passive income with strategies that have been proven time and time again to be false.

amishmanish

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Quote from: cryptocointrade.com on June 01, 2021, 01:56:42 AM

Synthetix because they have a platform with great potential and great interest rate (around 30%)
--snip--

Thanks for sharing. If you are into SNX, I'd suggest you to check Barnbridge discord. Tag me there, if you come over. I am @amish. They are aiming to be the risk derivatives platform for traditional finance looking for an entry into DeFi. The community is in a growth phase with everyone learning from each other and people finding ways to contribute to DAO governance.

Quote from: Darker45 on June 02, 2021, 08:30:27 PM

Quote from: The Sceptical Chymist on June 02, 2021, 05:31:08 PM

Quote from: Darker45 on June 02, 2021, 09:42:52 AM

I cannot go through all the platforms listed by the OP but, yes, they're currently being offered.

I don't doubt that. I do question whether they're passive investment opportunities based in reality or are really Ponzi schemes.

I wouldn't call it an outright Ponzi scheme. Certainly, there have been bad reviews about the platform but, well, each and every DeFi exchange that is gaining momentum right now has its own fair share of negative reviews. But overall, it seems to me that there is indeed passive income from this.

There is actually a very tight competition in the DeFi market right now. Uniswap, as we all know, has made incredible amount of success when it entered the market. Liquidity providers are enjoying high rewards. But it was even topped by PancakeSwap.

Uniswap is the first of its kind and Pancakeswap is a copy on Binance. A lot of these "farms" are indeed Ponzi schemes. If you get in early, you can get the returns from the yield tokens. They are high in price initailly (so the APYs) but as they get farmed, selloffs ensue and the early entrants gain the most. Most of them in fact are classic Ponzis. If you get in early and exit at the right time, it is easy money. What i find worrisome is that most of these "Farms on farms" projects do not have a solid underlying products. They just copy each other, make a big community with TG invitations, seed a uniswap pool and then start the selll-off after a few initial days of farming.

This worked in the bullrun but long term, a lot of them will just runaway leaving people with a bad taste.

Darker45

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Quote from: The Sceptical Chymist on June 02, 2021, 05:31:08 PM

Quote from: Darker45 on June 02, 2021, 09:42:52 AM

I cannot go through all the platforms listed by the OP but, yes, they're currently being offered.

I don't doubt that. I do question whether they're passive investment opportunities based in reality or are really Ponzi schemes.

I wouldn't call it an outright Ponzi scheme. Certainly, there have been bad reviews about the platform but, well, each and every DeFi exchange that is gaining momentum right now has its own fair share of negative reviews. But overall, it seems to me that there is indeed passive income from this.

There is actually a very tight competition in the DeFi market right now. Uniswap, as we all know, has made incredible amount of success when it entered the market. Liquidity providers are enjoying high rewards. But it was even topped by PancakeSwap.

maisao1991

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For me, I usually do Farming projects on BSC and always look for farming projects that have a big APY and have made quite good money from it, but it also comes with too much risk, so the Participating in farming projects on BSC is not recommended for those who have no experience on it.

TimeTeller

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Quote from: adzino on June 02, 2021, 05:32:38 PM

Are those interest account legit? Isn't it risky to use those services. Do they actually pay you? Since those are centralized services, there is a very good chance that they will be able to deny you any payment. And they could easily exit scam. They may show excuses such as they services were hacked and so on.
And is cloud mining still a thing? I thought they were all dead. You either make nothing from them or they end up scamming you. I still remember most of the cloud mining services were just ponzie schemes and nothing else.

Interest account in some platforms that I know of like Nexo or btcpop seems legit.
But not using those platforms as I'm only using binance for earning purposes like their flexible savings and locked stakings.
I am more confident using binance services as they have SAFU in place.
Also, exit scam in BNB is not likely to happen. And if they will be hacked, they have insurance.

And with regards to cloud mining, don't think it is still a thing today.
Most miners realized that they are only being screwed by these cloud mining companies.
Had been in that position as well and never use cloud mining since.

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Quote from: cryptocointrade.com on June 01, 2021, 01:56:42 AM

I have been trying different kinds of sources to generate passive income from cryptocurrencies

What did I use?

- Interest accounts from Nexo, Celsius, Crypto_com, BlockFi, Swissborg, YouHodler, Nebeus, BTCpop

- Liquidity providing on Uniswap and Pancakeswap

- Staking on Binance, Kraken, Binance chain, Mycointainer, Matic, Perpetual Exchange, Synthetix, 1inch

- Cloud mining from Genesis Mining, ViaBTC, Hashmining24

- Yield farming on Pancakeswap, Pankcake Bunny

What do I still use and why?

-snip-

Are those interest account legit? Isn't it risky to use those services. Do they actually pay you? Since those are centralized services, there is a very good chance that they will be able to deny you any payment. And they could easily exit scam. They may show excuses such as they services were hacked and so on.
And is cloud mining still a thing? I thought they were all dead. You either make nothing from them or they end up scamming you. I still remember most of the cloud mining services were just ponzie schemes and nothing else.

The Sceptical Chymist

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Quote from: Leviathan.007 on June 02, 2021, 02:03:39 AM

Talking about sharing experience, I would like to share my experience about stacking tron. when the price of each tron was around 0.02 dollars I bough some trons and started staking on my tron wallet it was the first experience and I would earn ~2-3 dollars per day, if you also count rising of the price my passive income gone insane.

I think a lot of people consider Tron a shitcoin, but as far as staking coins go I think it's one of the neatest out there, and it sort of reminds me of NEO in that you can stake without even having to keep a wallet running 24/7. Leviathan.007 was probably smart buying a bunch of Tron at $0.02--it's now worth $0.07 and was even higher than that a month or so ago. That's a decent way to earn passive income IMO.

Quote from: BrewMaster on June 02, 2021, 08:55:50 AM

i don't know any of the things OP is advertising but they do exist and you can also lose all your money in them as the shitcoin you are staking dumps or maybe is buggy and shuts down.

Yes, I get it that gambling on altcoins can produce profits well in excess of what OP was talking about, but again, we're talking about passive income here, not capital gains.

Quote from: Darker45 on June 02, 2021, 09:42:52 AM

I cannot go through all the platforms listed by the OP but, yes, they're currently being offered.

I don't doubt that. I do question whether they're passive investment opportunities based in reality or are really Ponzi schemes.

LUCKMCFLY

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Thank you very much for sharing, very few people do it and it is great that all these methods have helped you to have passive income, with respect to my experience I only have passive income in casinos doing Staking, I am reviewing some games that Unfortunately they are not yet in the casinos, but if it generates passive income, what you have to dedicate is a lot of time to play and be aware that in the game you do not lose the level, or that another player hurts and kills you because you would lose your progress. My experience focuses on gambling, and on some occasions I was staking coins from crypto projects, but it is not a big deal.

livingfree

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Quote from: The Sceptical Chymist on June 01, 2021, 06:34:37 PM

Quote from: livingfree on June 01, 2021, 02:47:21 PM

But I would be away from staking through exchanges, if it's possible to stake to a wallet, that will be my better choice.

I would definitely not stake on an exchange, even if they're one of the more reputable ones. Not your keys, not your coins--you never know what kind of snag is going to prevent you from accessing your coins, and if they're on an exchange it's all out of your control.

As far as cloud mining goes, are there any such operations that aren't a scam? It seems like nobody around here mentions cloud mining anymore, so I assume they've gone by the wayside. And yeah, I'd stay far, far away from them. There are much better, less risky ways of earning passive income.

Exactly. We don't own the keys there and despite being reputable, I would not trust them with my coins. And as for cloud mining, it seems that it's dying gradually and I've noticed also the there's not that much talk about it anymore. I hope that the same thing will happen to crowdfunding that's being abused by scammers and the legitimate projects will remain.

Quote from: Leviathan.007 on June 02, 2021, 02:03:39 AM

Talking about sharing experience, I would like to share my experience about stacking tron. when the price of each tron was around 0.02 dollars I bough some trons and started staking on my tron wallet it was the first experience and I would earn ~2-3 dollars per day, if you also count rising of the price my passive income gone insane. Another, experience was holding some bitcoins on Binance earn and taking profits, while I was enjoying the bullrun I got some interest over my money. However, here I would like to note where are many scammers abusing people by promising them passive income or even doubling their money so I would suggest to avoid the projects giving you too much interest in short term and do your own research.

Looks like you've got a bunch of Tron on staked. How are you then right now and how much is the estimate you get to earn from it daily since we're in the bull run?

wxa7115

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Don't really want to invest in centralized crypto projects (especially long-term) with little to no decentralization, transparency, censorship resistant, immutablity, privacy/anonymity, permissionless/trustlessness, network consensus, etc.
Those are good ideals one need to hold strong to in Crypto space for safe transactions.

And this means no passive income, the idea of income which you can get without lifting a finger is obviously very attractive but unless you are an investor or a famous artist this is not going to happen.

Investments are like a garden if you do not attend your investments for a time they will still do fine but if you neglect it for too long then you will begin to see negative results, even if you are a long term holder of bitcoin you still need to check the market from time to time so you know in which part of the cycle we are and you do not make a mistake by getting emotional when you see the price going down.

Darker45

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Quote from: The Sceptical Chymist on June 02, 2021, 05:36:29 AM

Quote from: Darker45 on June 01, 2021, 10:46:24 PM

LOL. I'm pretty sure affandi meant something else, probably daily yield on a 600% to 700% annual rate. After all, APR means Annual Percentage Rate. The annual rate could be true, 600% to 700%.

Doesn't anyone else find that claim to be a bit odd, or am I just completely out of the loop? 700% is almost 2% daily, and there's no asset I know of that pays out that kind of income.

I'd say there's probably no other asset which offers that kind of APY or APR level.

I cannot go through all the platforms listed by the OP but, yes, they're currently being offered. Take PancakeSwap, for example. Here's a screenshot of what the platform is offering in its farms right at this very moment. You may notice that there is even an APR of more than 862%. That's the QuarkChain Token (QKC) and BUSD pair. If I'm not mistaken, there was even a time when APR could reach as high as 1,000%.

https://pancakeswap.finance/farms

zanezane

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I suggest you not use cloud mining because a lot of scams have already happened with that. On my part I am spending my time searching for new projects and investing in it, there is also money in shitcoins but not good for a long-term investment so I always grab the opportunity before it is too late. I can say that I am happy with the earnings that I gained from investing in some shitcoins, which I used as well for investing in bitcoin and some blockchain games.

Cloud mining nowadays are a scam that people shouldn't even fall for it anymore because they won't get anything out of it besides frustrations and general waste of time paid with nothing. Shitcoins is a pretty unstable one especially if the shitcoin has been in the market for a little while which means that there is a possibility that the developers are already doing an exit scam.

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Quote from: The Sceptical Chymist on June 01, 2021, 06:34:37 PM

Say what???

Are you telling me there's a legitimate way to earn that much of a return (emphasis on legitimate)?

as far as "legitimate" ways of making ridiculous amount of profit in ridiculously short amount of time go, there has always been "legitimate" ways of doing it BUT they have always been also ridiculously risky.

i don't know any of the things OP is advertising but they do exist and you can also lose all your money in them as the shitcoin you are staking dumps or maybe is buggy and shuts down.

another way of making such profit is shitcoin pumping. here is a random list of some random shitcoins sorted based on their pump in the past 24 hours. ignoring the first one you see 25000% profit in just one day!

AicecreaME

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Quote from: cryptocointrade.com on June 01, 2021, 01:56:42 AM

<...>

Good decision that you have abandoned cloud mining. Plenty of scams are roaming around that platform. They will just try to get into you and once you've trusted them your money, they will disappear after a few days or weeks after giving you high hopes. Binance is a nice platform to put your funds and invest in. Although you still have to limit yourself because risk is still present. You just do your ways and invest in accordance to your risk appetite.

I suppose you have a nice portfolio and funds at hand to diversify that much. This is still good though, not putting all your eggs in one basket. Thank you for your inputs about what is good platform that offers high interests, will surely look into it.

Topic: Crypto Passive Income - My Experience - page 2. (Read 766 times)