Earning passive income, particularly through
Bitcoin, is something I've gotten interested in these past couple of weeks. I tried looking for relevant topics around the forum, but they seem to be scattered at large.
As any investor worth their salt would tell you, passive income is the single most important area of finances that will ultimately build your wealth reliably. Warren Buffett, the most important investor of our era, endorses passive income, and hails it as the best tool for the common man to keep themselves afloat in such a turbulent economy. With the advent of Bitcoin later came the huge (realistic) potential to make money faster than the bank would ever offer you.
Unlike investing your inflation-prone dollars in a <%1 APR bank investment, Bitcoin, and crypto in general, enjoys both very high APRs, as well as being a generally appreciative asset over the years. This is indeed thanks to its deflationary method of rolling out fresh units into the economy, as well as being decentralized. Before you is a list of services and websites providing solid APY rates, with all the relevant information as well.
It is erroneous to think that all savings account services utilize the same business model. The most popular of which is the lending out of whatever you deposit into their savings products, and making a profit upon the maturity of that loan's interest, such that the business owner receives the original amount + interest, the interest of which is split between you and the owner. Casinos, such as Cointiply and
FreeBitco.in, make use of a different model, which is dividing the
BTC balance into two different parts: To bankroll the various casino games, and to cover the user withdrawals. Unlike the former model, this model is unique in that the profits the casinos make, so long as users continue playing in that casino, are practically guaranteed by the house edge. Based on this conclusion, an inference can be made that the interest rate will likely remain stationary in the scale of years, whereas the former model fluctuates depending on the loan interests.
Regarding the safety of your
BTC, the sentiment of "Not your keys, not your coins" rings ever true. When it comes to deciding which service to entrust my coins to, the two ultimate factor to take into consideration is that website's security track record, and time in the market. Many of the mentioned website have been in the game for several years now, with (AFAIK) good records of security.
_______________________________________________________________________________ ______________________| Name | APY (%) | Compounding period | Min. Deposit | Min. Withdrawal | Lock-in?** | Altcoins? |
| BlockFi.com | 4.90 | Daily | None | 0.003 | No | Ξ, Ł |
| Nexo.io | 8.00 | Daily | 0.001 | 0.001 | No | Many |
| FreeBitco.in | 4.08 | Daily | 0.0003 | 0.0003 | No | None |
| Cointiply.com | 5.00 | Weekly | None | $5* | No | Ɖ |
| Binance.com | 1.21 | Weekly | None | 0.0001 | Yes | Many |
| Gemini.com | 3.05 | Daily | None | 0.0001 | No | Many |
| Celsius.network | 4.73 | Daily | None | None | No | Ξ, ₮ |
| Crypto.com | N/A | Daily | 0.005 | 0.003 | No | Many |
| getLinus.io | 4.50 | Daily | None | N/A | No | None |
| YouHodler.com | 4.80 | Monthly | 0.1 | $50* | Yes | Ξ, ₮, LINK|
| Coinloan.io | 4.40 | Daily | None | N/A | No | Many |
| Ledn.io | 6.25 | Daily | None | None | No | USDC |
*Bitcoin equivalent.
** If the answer is
NO, it means that you are able to withdraw your balance freely without having to wait.
_______________________________________________________________________________ ______________________Overall, the only services I can vouch for in this list are Nexo.io, Cointiply,
Binance and, as you may have guessed from my signature,
FreeBitco.in. They've paid me consistently with smooth transactions and services round-about.
If there is an error, or would like me to add more information, kindly let me know. Thank you!