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

I feel like passive income is not quite as profitable as people think it is, why would you risk you cap trying to invest into multiple things just for a small return, where you could just invest it in some other way that is not highly active but will give your a better return, generally passive income like cloud mining and staking seems to be a risky business.

Interesting to see that people are actually going with this interest thing in the crypto world as well. I always said that we should not be doing it in fiat world because it was always a bit of risky move, but I guess it is actually going very well in crypto because it is not guaranteed. In the regular fiat world if you give someone interest, that money has to come from somewhere, which means if there is finite amount of money, then that person would collect all the money in the world one day, which is why we do not have finite money and we keep printing it, and that makes fiat less and less valuable (among other reasons).

In crypto it is about the same, we keep printing, farming, mining new tokens/coins everyday to keep giving people these earnings, it should definitely make the token a lot less valuable over long period of time, now there is a demand for it but eventually it is going to be very tough.

thank you for this experience you share...

I'm currently focusing on finding my passive income platform while still holding the coins I bought. I will find out more about crypto.com because you said the BTC interest there is quite high.

Hey.  I actually have waves and waves exchange wallet.  I do stake waves though but don't stake anything else.


But do you stake usdn?  Is it only that small percentage apy now?  But how much interest is that a year?  Does it change every week or so?


Again because if its how it is... why can't someone put a decent amount of money into usdn and stake it for passive income?  Like imagine someone with 10,000 dollars or 100,000 dollars... buy usdn and stake it in waves wallet.  Then they get around 700 or 7000 dollars a year right?  But the usdn can always convert back to usdt or usdn right?

the ones that i could recommend which your coins don't go anywhere but just inside your own wallet is the USDN in the WAVES exchange which you can use your wallet to just stake it. APy is about 6.9%, i'm not sure though so you will have to check it here on https://waves.exchange/ my experience is quite good so far in staking WAVES.

What is the best site for staking a stablecoin like usdt or usdc?  Im from the US but overseas though.


Some sites i can't use because they are restricted due to my location etc.

The reason why we are having easier time with the passive income these days is the fact that all those farming and staking profits from passive income comes from the idea that people are still buying those tokens which makes the price hang as tight as possible. Like for example you want to buy cake and put it in a pool and make some return? Sure that is possible but it is giving you a return based on the price at that time, so if it tells you that it will give you 50% return that is based on cake and you calculate based on that price, what if the price of cake drops 90%+? Then you will be screwed and all of your passive income would be gone.

So all of the passive income in those places are based on the price constantly being at that level or even higher in order to make it legit, the moment it starts to go down, all of your investment goes down with it.

Definitely crypto has been a source of passive income for people who has been from start with crypto and have hold their crypto for sometime. I have earned some income from these crypto as well. I done both trading and investing, airdrops and bounties as well. BNB and ETH always my two favorite coins and I have gain from that. Crypto has given 100 to 1000x returns so this is really amazing.

I've participated in DeFi projects for the past few months, the first one I was in, made me a decent amount of money, but then the algorithmic stable coins crashed, and it was over. After that incident, I only provided liquidity to Stable LPs, and would generate a reasonable sum of money each month, considering that it was almost 100% autopilot and didn't require me to do anything throughout the day.

If you have a decent sum, let's suppose over $5.000, then you could potentially achieve a reasonable profit daily.

Honestly people are looking for peanuts by leaving off gold mines when they are hunting for passive income generation. Bitcoin must be a very good opportunity for generating passive income with comparatively zero risk. But probably people are looking for multiplying their bitcoins rather than gaining value in USD. Because, if you're going to risk in something with your 0.05BTC then if you may gain some 0.01BTC then you will end up in 0.06BTC but if you buy bitcoins for $100 (some 0.03BTC) and after 4 years of holding then your $100 worth of bitcoin will become $1000 but you might be holding same amount (0.03BTC) of bitcoin.

But, I am into bitcoin holding for generating passive income as I will not bother about that I am gaining in BTC or in USD. I am just looking for making my networth to be growing over the years.

You wouldn't have a problem about hacking if you don't leave your funds in any exchanges although, binance is different and the last hacking event about them didn't successfully made since they have a good security against these kind of people.

Back on the passive income, most of those suggestions listed in OP are very helpful. People should try it but of course, risk is always involve so better run a background check or do your own research then invest to have a passive income although I believe it will take some time to be called as passive before you get your ROI.

I do a lot of this passive income in the past years and I think it is a good passive income since you could earn an interest in holding different kinds of the token, but for me, it just wasn't that worth it in my experience and it's also a big risk since you are locking in investment in the website or wallet and its not decentralized meaning you could lose that money if they get hack or something.

For me, it just not the best investment to do since we have something a new concept like NFT's where a little similar, I mean it works for me, and NFT's is more profitable especially if you try blockchain games where is combine with defi where you need to stake and then receive a reward or just straight NFT's.

But still staking cryptocurrency is still great especially if you're aiming for long-term investment and if you invested at this like this where the market is just so low the potential profit in the future was big.

All this you mentioned are really a good way of earning passive income, but for me i prefer staking on Binance because it's actually a very big exchange and has many way of earning too not just staking only, and also why i prefer Binance is also for security purposes tho binance has been hacked before but didn't run away which made them trust worthy and i am sure since then their security became stronger so there can't  be hacked easily and i would also prefer Binance to any other exchange earning activities.

However it is also wise to remember that you are not getting those returns exactly, you know why? Because both the APR is changing like you said, but also price changes constantly as well, you are not going to get that return in dollar value and you are not getting it in cake (or whichever swap) or even in bitcoin.

Basically it is not a number that can be trusted, it is a random number at that point, doesn't matter what it says, doesn't matter if it is 80% or if it is 800% because in the end it could change overnight. How? Well you could do bnb-cake on pancake and get a very very tiny return compared to most, but then both bnb and cake could increase like hell and you would make A LOT more than any other pair. At the same time you could invest into something brand new and it would drop so much that you would have basically nothing in the end. So, it is never important to look at those APR numbers.

And with your spare money.

You have to be consistent with that investment while keeping it. You're going to keep it until you can while adding more if you can so that it can generate more money.

Those investments that are generating passive income, the more capital you put, the more potential profit you'll get.

Passive income is more tended on investment, basically this is still one of the most meaningful and of course.. still the one way which means it is certainly still very feasible to do, here we really need a trusted and well-known site, and a little I suggest lest we try a new thing/new way that many people have not recognized related to the profit also definite proof.

In the beginning, those Swapping exchanges provide that rate for some pairs that are new just to get users to contribute to the liquidity(which would be low since not many provide liquidity to new crypto in those exchanges) So they have to set high APR rates specifically for those.

In my experience I used Apeswap and there was an Alt whose APR return was over 1500%, Then it came down slowly to 300% and then under 300% after the liquidity was enough.

I didn't use that function because I didn't trust to invest in a new volatile altcoin so I just witnessed it.

So at last, Those returns seem good but they aren't the same for every coin in the market, It fluctuates based on many variables and obviously it's good to provide liquidity on a good Swap exchange rather than a new one.

Crypto passive income is possible if you can find a right source to use. I see you use binance besides of the other sources so I guess you can earn some decent reward from staking. Staking can be the one of many ways to earn passive income from crypto and besides of Binance, you can stake in many wallet that you mention. I give you some more wallet that you can use to staking such as Atomic wallet, CRO.com wallet, Kucoin wallet, Coal lite wallet.
I agree with what you say that we do not have to use too many sources to staking because that will need our attention to manage every wallet or sources that we use.

That is the weak point of passive income generation. You must need diversification still you must need to do in massive volume yet that will lead to poor managing due to time constraint and lack of manpower availability. In my experience, instead of risking with third party things and altcoin related stuff, it would be highly secured and profitable if you try to make use of bitcoin with long term holding which might be definitely having good interest rate than 8% of your most of the things.

Yeah, bitcoin itself a very good opportunity to gain good value over the time passively. I bought bitcoin when it was trading below $1000 and I am still holding it and I spend zero efforts after buying and keeping in cold storage. That cannot be called as passive income generation with respect to current price of BTC?

Perhaps what you are saying is right.. but in the past I had very bad experience with PoS coins. During 2018 and 2019, I invested in some PoS coins, but when the market crashed these coins went down more than the other coins and in the end I suffered crippling losses. And it is not like I made my investment with shitcoins and newly listed coins. Most of my investment was in the top PoS coins at that time.

Also, I am not very confident about earning interest on your cryptocurrency holdings. The OP might have received good amount of profit from projects such as Nexo and Swissborg. But I can't find a way in which these businesses remain viable after paying such high interest rates. Sooner or later, many of them will fold up and vanish with all the coins that were deposited by the users.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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. 

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

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.

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.

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?

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.

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

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.

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!

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.  

I know what OP meant, but that's still a rate that seems way too good to be true in my eyes, at least from an income standpoint.  I realize that lots of people have made much more than that by holding coins and achieving capital gains above 700%, but that's different.  If a staking coin promised that much of an annualized return, I would be extremely skeptical to say the least.

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.

You really diversified your investment a lot .
This is a high risk investments especially on Cloud Mining but its good that you stopped it already.

Being invested on Nexo, Celsius and Crypto.com is for me a low risk but low to moderate reward. I'm currently invested on Crypto.com right now thru their staking and their Supercharger feature.
Being a liquidity provider on Uniswap and Pancakeswap is another form of passive income but beware of impermanent losses because you are providing liquidity to 2 coins there unless one of the coins is in USDT then that lessens the risk.

As for me, like I said I invested on Crypto.com thru supercharger and their staking feature. At the same time, I'm currently staking some ADA, CAKE and APE (both might be a bit risky but I can afford it if the worst thing comes so no worries. High risk = High reward).

Thanks for your summary, it is great. I haven't much experience with passive crypto income, honestly my only real income besides trading is gambling with cryptos. There seems to be a lot of different services for earning money passively with cryptos. Maybe you could give us a little bit more information? My biggest question is, if you had only one service to choose, which one would it be? And what is an realistic expectation that we can earn with cryptos passively? Is it more than the interest on our money market account?

That's so much high-risk you got in there.
If I am to pick one, I'll choose the staking process in Binance and that's it.

What I won't choose is a different story, there's a lot of them that I don't want to get my hands on and check daily for updates and current news.
That's just too much workload.
But I would erase cloud mining without remorse. From inception, that's the worst investment choice you will make and you better stay away from it to avoid getting rekt.

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.

cloud mining is definitely just a ponzi in disguise.
however i can't get over with defi that has history of being hacked though, I know code always have some vulnerability to exploit doesn't matter how much better the security but like the recent hacking involving belt finance for example, the case
is fishy as heck because there's deletion of one line code made by insider (still suspected) that causes the hacking, maybe such thing also happened to pancake bunny as well making me reluctant and prefer to stick with more reliable defi
since it's money we're talking about. therefore for passive income i'd just prefer usual stabecoin staking and some little yield farming.

You have diversified your investments,OP.
I wouldn't use 20 different platforms to store my capital.This sounds like a pain in the a$$.
I usually don't trust altcoin/token projects so I wouldn't bet my money on them.I'm always afraid that sooner or later,some of those platforms are going to scam me or get hacked.
I want to keep it simple and just HODL Bitcoins.
I don't believe in the concept of "passive income".People always have to work hard to gather more money.
My income should always be active.

It seems you got huge portfolio value that is why you diversified your assets into different platforms to earn money, which is good but highly risky as well since any coin may get a huge hit on its prices in no time so all the years you have been waiting may end up over a night, so you also need to consider about it.

And how much of your capital was allocated into these kind of investment plans? 30%?

Don't invest all your capital for little rewards like this!

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%. That indeed exists, some even higher than that, as far as I can remember. But definitely those rates are not the daily yield. There's a daily return on the basis of that annual rate.

Anyway, OP, you're one hell of a man/woman. I cannot imagine myself getting into all those investments in different platforms. If I were in your place, I'm sure I was already biting off more than I could chew. I guess that would take all of my precious free time, probably even deprive me of a good night's sleep.

This is the future of banking system. Who would keep putting money in a traditional bank saving account to earn negative interest in fiat (when compared to the real inflation) if they can earn at least 4% annualy over their bitcoins in sites like Celsius, Nexo, Crypto dot com and even Freebitcoin and more than 10% yearly interest over stablecoins.
Banks still have investors because most people aren't crypto adopters and think it's profitable to have a saving account. Once people get educated on this matter traditional banks will have to change their standards, raising customers' interest and decreasing their own profit. Even doing this they will be lucky if they will be able to survive with so many innovative competitors on the industry working wordlwide.

Say what???

Are you telling me there's a legitimate way to earn that much of a return (emphasis on legitimate)?  That just doesn't sound right.  In fact, members have gotten tagged here for promoting services that advertise rates of return that are much less than that.  Anyway, I've never heard of either one of those sites.  I'll have to take a look to see what they're all about, but I doubt I'll end up using any of them.  It sounds way too good to be true.

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.

I think that in the very near future, there will be an institutional influx of funds into these blockchain-based savings products and/or staking platforms.

They simply provide so much more in terms of interest paid on your funds compared to traditional banking alternatives.

However, given the fact that these are all not FDIC insured and with the exception of Crypto.com not audited by a large accounting firm, the risks are quite high. I wouldn't recommend putting away more than half of your assets into these platforms given the risks associated with them. The returns would still not be high enough to justify that imo.

In terms of cloud mining, that's just a no-go altogether. Not worth your time.

A daily APR or DPR of 600% is quite high and somewhat unrealistic for a project, it would most likely lead to supply shocks and crash the value of any currency, if it were true, then it raises lots of red flags about the longevity of the project.

@OP, besides the risk of losses, be aware of protecting your private information. Some users do not bother to verify a website before submitting information to it, and the more platforms you register on the more the risk of personality theft.

You barely earn with cloud mining and it's a good option that you have stopped using them. The rates from exchanges really varies and whoever got the most, they're the ones who attracts most of the users.

But I would be away from staking through exchanges, if it's possible to stake to a wallet, that will be my better choice. But I'm impressed with your strategy and you're running all of them at once.

Do you have any estimate how much you earn if it's on the daily basis?

Open Binance, on the left side you will see "Earn", you will see so many options for generating passive income! And not just Binance, other exchanges have that too! I guess many multicurrency wallets have some staking options now, I am using Atomic wallet for some coins, for example! From casinos where you can earn from dividends to exchanges and wallets, there are so many different ways to make some passive income in crypto!
And numbers are simple to understand, and everything comes down to your bankroll and the level of risk you are willing to take!

this sounds like a very high risk operation you are running here. the profit you are making has to be very huge to justify the risk you are taking which it doesn't seem to be that big.
the cloud mining risk and their ponziness is clear to everyone but nobody covered the risks of staking.
when you stake shitcoins specially not on your own and with a custodial wallet you are risking losing everything if that custodial wallet closes your account or gets hacked.
there is also an additional risk of losing a lot of money when the shitcoin you are bag holding for staking purposes gets dumped. considering these coins are dumping hard and there is a lot of reward that will be sold by all stakers the dumps are guaranteed.

I've heard that the so-called Cloud Mining industry is notorious for quite a few scams, hence why you abandoned it. I used to have BTC on Freebitco.in a few years ago, taking advantage of the 4% interest, but wouldn't bother anymore. Likewise, I'm currently providing liquidity on a pancake pool (Iron-Busd),  an almost worry-free investment, since both are altcoins.

There are plenty of interesting pools on Beefy, but I'm not into risking high amounts of money, the reward could be higher, but I'm genuinely worried to put money on a project which has a high impermanent loss.

avoid cloud mining because it is prone to scams and many ponzi schemes, I have participated in several cloud mining sites but on average they only lasted two weeks ago their sites disappeared and now I am getting passive income from some farming and staking at Pancakeswap and Bakeryswap and most recently Mocktailswap whose daily APR is quite large, around 600% to 700%.

DYOR

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?

Nexo because they have good interest in Stellar XLM and Ripple XRP (up to 8%)

Celsius because they have a good yield on Matic (around 10-14%) and BAT (around 3.5%)

Binance because they have so many different earning products, including staking on ADA and DOT

Crypto_com because they have the best interest rate on Bitcoin for the moment (up to around 8%)

Swissborg because they have great interest rates for USDC (up to 14%) and ETH (up to 7.5%)

Uniswap because there is a great yield on some liquidity pools like YFI/ETH, LINK/ETH, COMP/ETH. Remember to understand the risk of impermanent loss here.

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

Perpetual Exchange because they have a platform with great potential and great interest rate (around 95%)

Kraken because they have a great reputation regarding security and regulation (not the best rates though)

Matic because the project is great and the interest is great

1inch because the project is great and the interest is great

What did I stop using and why?

Cloud mining because the business model is very hard to review and historically it's very hard to be profitable

Pancake Bunny just suffered from a hack. However, it might be time to consider joining there now again because they have improved

Nebeus, YouHodler, and BTCpop I just stopped using because it's hard to have too many platforms to keep track of.