Topic: Passive income - page 11. (Read 3296 times)
Is it only staking where you would be able to have a passive income? I think with that kind of amount you can start small business or probably divide the fund to different investment like staking, trading and business I think it's much reliable to have more than one passive income than focusing all your money to one.
I don't have "have big useless sum of money laying around", but I keep some altcoins on Binance that worth couple of hundred bucks. I did not earn a lot, but still my money works and I get something. There is a good quote "A penny saved is of more value than a penny paid out.
Martin Luther". That is totally correct about passive income with any amount. Think about it at your leisure.
Martin Luther". That is totally correct about passive income with any amount. Think about it at your leisure.
That means you're stacking on Binance? I hope you also know that you are entrusting your savings there to an unregulated company. It would make more sense to do the staking on a project that is decentralized. There are some good projects here, e.g. Tezos, Waves, Komodo etc, where you can get 5-6% for sure without entrusting this to a central company.
Staking might be a good option if you have big useless sum of money laying around. Otherwise its not worth it IMO.
I don't have "have big useless sum of money laying around", but I keep some altcoins on Binance that worth couple of hundred bucks. I did not earn a lot, but still my money works and I get something. There is a good quote "A penny saved is of more value than a penny paid out.
Martin Luther". That is totally correct about passive income with any amount. Think about it at your leisure.
Staking might be a good option if you have big useless sum of money laying around. Otherwise its not worth it IMO.
Binance as far as I know, this is now the best solution for passive earnings. If 3 years ago it was possible to get money from staking coins in the wallet, now these are large exchanges that attract investments through good investment programs.
I get that many people want to increase their money without working, and crypto is a great way of doing it, so you invest into crypto but now you want to grow your crypto amount without working as well. However remember that staking is just good only if the price stays the same or goes up and not too many people invest into it.
If too many people invest into it then the APR will drop significantly, if the price falls then APR will drop significantly as well. I rather not invest into something that has such a huge chance of not being worth something, you could have bought cake 4 months ago and farm for the past 4 months and make a loss right now, does that sound good?
I am sure there are tons of people who made a profit as well, but I rather not risk it so I do not do it. Of course if you want to invest into Cake, then farming it as well is not a bad idea, just don't invest only for that income, invest if you believe in the token as well.
If too many people invest into it then the APR will drop significantly, if the price falls then APR will drop significantly as well. I rather not invest into something that has such a huge chance of not being worth something, you could have bought cake 4 months ago and farm for the past 4 months and make a loss right now, does that sound good?
I am sure there are tons of people who made a profit as well, but I rather not risk it so I do not do it. Of course if you want to invest into Cake, then farming it as well is not a bad idea, just don't invest only for that income, invest if you believe in the token as well.
I agree that if you don't want to risk a lot and you want a, somehow, good APY, staking Cake in Pancake Swap is a good choice.
However, there are many DeFi platforms out there that offers you much more than the 100% APY of Pancake swap.
Personally, i try to find a good project with more than 1% daily, i stake my crypto and i get out when it starts to fall.
However, there are many DeFi platforms out there that offers you much more than the 100% APY of Pancake swap.
Personally, i try to find a good project with more than 1% daily, i stake my crypto and i get out when it starts to fall.
There are some ways to earn passive income.
One of them was staking, of course, for me I would staking at terra. You got all the rewards with being a delegator (some kind of staking) but also you can get another airdrop with just holding/staking your coin.
There was also a down side, if market crash your passive income will become a negative income.
One of them was staking, of course, for me I would staking at terra. You got all the rewards with being a delegator (some kind of staking) but also you can get another airdrop with just holding/staking your coin.
There was also a down side, if market crash your passive income will become a negative income.
You have $5,000 capital. Just buy and hold to make a nice "passive income". Put most of your money on bitcoin and some on the top altcoins like ethereum. When you are at profit, sell half of your investment and hold rest. When the price drops, buy more with your profit. Use the rest to try out your luck by investing in those very volatile and trending coins. Just make sure to dump it as soon as you make at least some profit. Those trending shitty coins usually die within a month.
Staking is is a great way to earn passive income right, because of the volatile nature of the market right now it most difficult to guarantee a passive income in cryptocurrency. But staking gives some guaranteed income, even though you can’t get a stable price for your rewards token, so it is most likely not passive.
Staking not only allows you to get passive income, but also to lose all or part of your money. In this case, it all depends on the platform on which you place your coins. And the higher the APY, the higher the chance of losing money. And accordingly, the more reliable the platform, the lower the APY offered by it.
Right now I also see cake staking as a best option for passive income. Their APY is very high like over a year you will double your staked amount or more than that.
But there is a great risk involved in putting all eggs into one basket. If one exploitation or hack happens to cake then your funds will be lost fully. So I would say to diversify you vision.
I would say to stake a part of your fund with cake. And rest you should divide in two parts. Invest one in potential coins you expect to give multiple x profit and with the other part go with trend like when nft season go with nft, now it's blockchain gaming season coming. You can go with that.
But there is a great risk involved in putting all eggs into one basket. If one exploitation or hack happens to cake then your funds will be lost fully. So I would say to diversify you vision.
I would say to stake a part of your fund with cake. And rest you should divide in two parts. Invest one in potential coins you expect to give multiple x profit and with the other part go with trend like when nft season go with nft, now it's blockchain gaming season coming. You can go with that.
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I still don't think that staking ETH would be a good idea at the moment. I am an Ethereum holder but by calculating the stake profitability, I don't think that it's good to take the chance and have your funds lock in some platforms.
Wait until its fully implemented that you can remove or withdraw it at anytime. But owning Ethereum for now is a good idea and investment. Well, just as holding bitcoin, the profit that you'll get when its price goes up is worth it.
Wait until its fully implemented that you can remove or withdraw it at anytime. But owning Ethereum for now is a good idea and investment. Well, just as holding bitcoin, the profit that you'll get when its price goes up is worth it.
Staking Ethereum is a good decision and has a low risk. Instead of just storing it and not increasing it, staking Ethereum is wiser because it will increase the amount of ETH you have in your wallet.
In accordance with the amount of money OP is $ 5000 , then the best option is to participate in a staking pool that is official and has a good reputation.
You can get 2.6 ETH for staking in the pool later.
Here's a list of recommended staking pools: https://beaconcha.in/stakingServices
Staking is is a great way to earn passive income right, because of the volatile nature of the market right now it most difficult to guarantee a passive income in cryptocurrency. But staking gives some guaranteed income, even though you can’t get a stable price for your rewards token, so it is most likely not passive.
Staking not only allows you to get passive income, but also to lose all or part of your money. In this case, it all depends on the platform on which you place your coins. And the higher the APY, the higher the chance of losing money. And accordingly, the more reliable the platform, the lower the APY offered by it.
What are some of the best ways to earn passive income right now? I was thinking about staking $CAKE, just staking it and not using liquidity farms. But not sure how profitable that would be, compared to some other methods. I have a 5000$ capital.
In my opinion, with a capital of $5000, indeed staking CAKE is the right choice, because the APR of staking CAKE is around 68% and that is enough for pansive income with a capital of $5000, moreover the price of CAKE will definitely continue to increase and of course it will make your capital grow too, so you can get two benefits from staking CAKE, namely from passive income and an increase in the price of CAKE.
Many people recommend staking their coins as a way to get some passive income but to me it is not worth it, if the rewards are too small then you are suffering a huge opportunity cost as you could invest that money almost everywhere and get a lot more profits.
And if the developers offer a huge return for staking your coins then that to me looks suspicious, truth to be told while passive income looks great on paper it is very difficult to get and the profits you can get by actively using that money are way better, so I do not see a reason to pursue passive income in this market.
I have a similar feeling about staking but then it's pretty safe and still a good way to stack more coins and don't just look at it from a selling point of view. If you like the project you can hold the tokens for a later stage and then cash even bigger profits for the staked coins earlier.And if the developers offer a huge return for staking your coins then that to me looks suspicious, truth to be told while passive income looks great on paper it is very difficult to get and the profits you can get by actively using that money are way better, so I do not see a reason to pursue passive income in this market.
There aren't many passive earning ways in crypto to be honest.
For me staking ETH for ETH 2.0 is much more promising since this coin has very strong fundamental since more than 5 years ago. $CAKE is quite new and could be just another hype coin in bullish market back then. So i think for long time passive income, staking ETH is more profitable
Indeed but it remains to be seen how it goes because when there's too much hype about something, it usually doesn't dwell well for the project and right now the hype for Ethereum 2.0 is quite a lot. 
By logging into the Cake platform, of course, you can enjoy the farm options provided by the platform to be used as passive income and of course if you believe in Cake there will be good developments in the future then there is nothing wrong with Staking on cake tokens with current capital, let alone seeing the price of Cake experienced a fairly deep correction in the last few days of course with Cake farming we can get a decent income while our token capital is quite safe because it stores tokens with a fairly clear project.
For me staking ETH for ETH 2.0 is much more promising since this coin has very strong fundamental since more than 5 years ago. $CAKE is quite new and could be just another hype coin in bullish market back then. So i think for long time passive income, staking ETH is more profitable
I still don't think that staking ETH would be a good idea at the moment. I am an Ethereum holder but by calculating the stake profitability, I don't think that it's good to take the chance and have your funds lock in some platforms.Wait until its fully implemented that you can remove or withdraw it at anytime. But owning Ethereum for now is a good idea and investment. Well, just as holding bitcoin, the profit that you'll get when its price goes up is worth it.
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What are some of the best ways to earn passive income right now? I was thinking about staking $CAKE, just staking it and not using liquidity farms. But not sure how profitable that would be, compared to some other methods. I have a 5000$ capital.
First you have to see a big opportunity in some coins, try to analyze it well and don't be rash in taking action to invest, make sure that your investment this time has the perfect value.
In the market there are lots of cheap coins but the movement is good for now, you need some right coins for you to invest, a great opportunity for you if you can see good coins for now, to get passive income you need to follow the steps of people who has succeeded in the crypto world with the right strategy and analysis.
After everything you do, then instill confidence and optimism in the decisions you take, rest assured that something we start with good consideration and analysis, will produce something big without sacrificing a little confidence, that we have the ability in this field.
What are some of the best ways to earn passive income right now? I was thinking about staking $CAKE, just staking it and not using liquidity farms. But not sure how profitable that would be, compared to some other methods. I have a 5000$ capital.
hope that you did not invest In Pancake(CAKE) the time that you created this thread because that is the beginning of the fall.May is the last month that CAKE makes its way upward and from then the fall starts abd until now it is getting slower to climb.
Every crypto investment has a high risk, I think the OP understands everything before investing. I am personally optimistic that the bull market will come again at the end of the year, hopefully we will see new ATH in every top altcoin.
What are some of the best ways to earn passive income right now? I was thinking about staking $CAKE, just staking it and not using liquidity farms. But not sure how profitable that would be, compared to some other methods. I have a 5000$ capital.
hope that you did not invest In Pancake(CAKE) the time that you created this thread because that is the beginning of the fall.May is the last month that CAKE makes its way upward and from then the fall starts abd until now it is getting slower to climb.
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