Passive income - page 8. | Bitcointalksearch.org

imstillthebest

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Quote from: the rise on July 28, 2021, 09:53:10 AM

I agree with that, CAKE is one of the trust coins that exist on the BSC network. Until now CAKE is ranked first in the BSC ecosystem. and there are so many benefits of investing here. in addition, dev always maintains its price by doing periodic burn.

that was not shocking because the coin was owned by the leading bsc exchange named pancakeswap . yes there are other benefits when you have a cake coin not just staking . you can create nft avatars in your pancakeswap account and recent one is a lottery where you can use you cake coin to buy tickets.
the burning process doesnt only happen in this coin but it happens too on most coins .

dndfinance

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Quote from: MadGamer on April 19, 2021, 01:02:39 PM

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.

You could stake Ada.

raes

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Quote from: vabchgent on July 28, 2021, 09:57:23 AM

True, but I got a few coins that aren't worth that much anyway so I just stake them in a yield farm where you can earn not only the cryptocurrency you stake, but also some others that are part of the farm. It isn't much, but it does create at least a little bit of value before I leave them idle in the wallet.

looks like in ApeSwap there are some such features. Staking BANANA tokens to get other tokens or coins.
rather than just waiting for the price of the tokens we have to go up, staking is indeed the best way to get passive income. although trading is more profitable it requires more skill. whereas staking is the best way to double profit when the coin price or market is not so good.

vabchgent

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Quote from: OZmaster on July 28, 2021, 09:02:22 AM

Quote from: vabchgent on July 27, 2021, 09:08:45 AM

Quote from: OZmaster on July 27, 2021, 07:37:13 AM

Quote from: Fredomago on July 25, 2021, 12:40:22 PM

Quote from: OZmaster on July 25, 2021, 12:29:36 PM

Quote from: aioc on July 23, 2021, 09:45:30 AM

Quote from: MadGamer on April 19, 2021, 01:02:39 PM

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.

Staking Cake is good but does not pour your capital on one coin alone, there are a lot of ways to earn passive income and there is stable Farm sites worthy to look at be careful on new farm sites so many of these are doing rug pull, investing in the top coin, and hodling it, is also highly recommended, this is the best time to buy new upcoming projects with good potential like DPET and Binamon, they are gaming sites very much similar to Axie.

But I wonder is farming really worth it? Or providing liquidity? Isn't it quite dangerous to ultimately lose money because the staked coins or the coins you use for farming get dumped and decrease in value anyway?

That's value of researching and continuing to follow latest news with the project that you are participating. It's a must to know first what kind of asset you are staking your money before jumping into it and invest.

I like the ideas of finding those new projects who are offering usages coin like axie infinity which serves as very profitable in its hot season, finding those same kind of projects who also have good potentials will allow your money to work for you.

Dedicate your time is also important in quest to find the right valuable assets that will make your journey very successful.

Ok but still the biggest risk is if the underlying that you are staking drops significantly in value. That can happen anytime theoretically. Are you staking or farming coins and locking them even for several months thereby increasing your volatility exposure or are you preferring shorter periods of time?

That's correct, if you decide to stake coins or contribute them to farms you definitely are exposed to the risk of price declines or liquidity shortages leading to prices that can cause you disadvantages. Generally though staking is a great possibility to create passive income, but I would stick with strong coins that are known for not dying overnight.

That is why I am really hesitant to stake my coins even for a couple of weeks as we know how quick things can turn around and crash hard. You don't want to have your coins staked unless it is a coin that you really know well and trust in its recovery. Having your coins stuck can mean huge opportunity cost. That really must be considered when doing your calculations for rewards from staking your coins.

True, but I got a few coins that aren't worth that much anyway so I just stake them in a yield farm where you can earn not only the cryptocurrency you stake, but also some others that are part of the farm. It isn't much, but it does create at least a little bit of value before I leave them idle in the wallet.

monineklutak

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Quote from: Charot12345 on July 28, 2021, 09:47:34 AM

Quote from: peter0425 on July 22, 2021, 05:25:22 AM

Quote from: MadGamer on April 19, 2021, 01:02:39 PM

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.

All kinds of investment always come with a risk. The riskier it is the more profit you can have if it goes on your way but to much loss if it is not. So before investing you must know and understand everything about it.

Any investment will have risks, whether it's small or big, it's just a matter of what our strategy is to minimize that risk.
besides strategy, of course the first is knowledge because when we start investing and don't have any knowledge of what we are most likely to fail and lose money,
So that's why it's important to have knowledge

TheClownSong

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Quote from: MadGamer on April 19, 2021, 01:02:39 PM

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.

I think CAKE token is good as a long term investment. Staking CAKE while holding it for the long term is a good choice because if you look at the trend of decentralized exchanges, DeFi-based tokens are the favorite choice of many people and CAKE is one of the best choices because it has a large market cap and has large liquidity.

the rise

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I agree with that, CAKE is one of the trust coins that exist on the BSC network. Until now CAKE is ranked first in the BSC ecosystem. and there are so many benefits of investing here. in addition, dev always maintains its price by doing periodic burn.

Charot12345

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Quote from: peter0425 on July 22, 2021, 05:25:22 AM

Quote from: MadGamer on April 19, 2021, 01:02:39 PM

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.

All kinds of investment always come with a risk. The riskier it is the more profit you can have if it goes on your way but to much loss if it is not. So before investing you must know and understand everything about it.

OZmaster

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Quote from: vabchgent on July 27, 2021, 09:08:45 AM

Quote from: OZmaster on July 27, 2021, 07:37:13 AM

Quote from: Fredomago on July 25, 2021, 12:40:22 PM

Quote from: OZmaster on July 25, 2021, 12:29:36 PM

Quote from: aioc on July 23, 2021, 09:45:30 AM

Quote from: MadGamer on April 19, 2021, 01:02:39 PM

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.

Staking Cake is good but does not pour your capital on one coin alone, there are a lot of ways to earn passive income and there is stable Farm sites worthy to look at be careful on new farm sites so many of these are doing rug pull, investing in the top coin, and hodling it, is also highly recommended, this is the best time to buy new upcoming projects with good potential like DPET and Binamon, they are gaming sites very much similar to Axie.

But I wonder is farming really worth it? Or providing liquidity? Isn't it quite dangerous to ultimately lose money because the staked coins or the coins you use for farming get dumped and decrease in value anyway?

That's value of researching and continuing to follow latest news with the project that you are participating. It's a must to know first what kind of asset you are staking your money before jumping into it and invest.

I like the ideas of finding those new projects who are offering usages coin like axie infinity which serves as very profitable in its hot season, finding those same kind of projects who also have good potentials will allow your money to work for you.

Dedicate your time is also important in quest to find the right valuable assets that will make your journey very successful.

Ok but still the biggest risk is if the underlying that you are staking drops significantly in value. That can happen anytime theoretically. Are you staking or farming coins and locking them even for several months thereby increasing your volatility exposure or are you preferring shorter periods of time?

That's correct, if you decide to stake coins or contribute them to farms you definitely are exposed to the risk of price declines or liquidity shortages leading to prices that can cause you disadvantages. Generally though staking is a great possibility to create passive income, but I would stick with strong coins that are known for not dying overnight.

That is why I am really hesitant to stake my coins even for a couple of weeks as we know how quick things can turn around and crash hard. You don't want to have your coins staked unless it is a coin that you really know well and trust in its recovery. Having your coins stuck can mean huge opportunity cost. That really must be considered when doing your calculations for rewards from staking your coins.

CryptoG99

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Quote from: RondoAnyar on July 27, 2021, 11:35:51 PM

Quote from: MadGamer on April 19, 2021, 01:02:39 PM

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.

being in the cake is not a problem as long as you can really manage the cake well. because there are so many cake coins that are only temporary hype without giving profit to the holders. if you are in cake you have to actively look at the market situation and you have to update about cake so that assets remain safe

I find that the same with the BSC. So hard to find a token that has utility or is not just a pump and dump. I think I found one with $BYG. Black Eye Galaxy is a decentralized NFT token. Players buy planets, starships and space stations. All as NFTs. Each planet will have it's own resources which can then be mined by staking.

cabron

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Quote from: Text on July 27, 2021, 10:57:59 PM

Quote from: MSN02 on July 27, 2021, 10:37:09 PM

Having tokens in and of itself is a passive income. I also stale and make NFTs which are both passive incomes that are very easy. I personally think that finding a project that you think will succeed in the future is hugely important because if a project 10x or 20x or even more than that that is a lot of money that you made passively by just hodling. You can also make great rewards in staking off of these investments. I personally have invested a lot into NEAR. NEAR gives me 11.2% apy on staking and it’s a project that I believe will be huge in the future. I also make my NFTs on NEAR because NEAR is so fast, cheap, and so easy to make NFTs on. There are lots of great projects, you just have to find them. If you haven’t looked into NEAR I also recommend you look into it, you may not love it but I think you will. It’s a great project and great for making passive income. There are also many different ways to earn money within the blockchain if you are looking for a side hustle.

Is NEAR already listed on CMC? I think I found something else there which is NEAR Protocol which has nothing to do with NFT, it's a project of building an app but I saw that it also has Staking because of POS. Or maybe you're referring to something else, is that already listed on other popular coin trackers?

I have also been able to have passive income just by staking on Defi platforms and I can say that it is worth it.

https://coinmarketcap.com/currencies/near-protocol/

It's still a platform just like the ones competing for ETH afaik. The first time I heard of it was from a youtube streamer. It's quite good but it wasn't really promoted here in the forum which is why it's not popular with the users here. If it did have an ANN thread in the forum, a lot probably have invested in it. AVAX for example did post here even when they didn't do a bounty campaign.

Yes. Defi is still a good source of money same as staking.

Text

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Quote from: MSN02 on July 27, 2021, 10:37:09 PM

Having tokens in and of itself is a passive income. I also stale and make NFTs which are both passive incomes that are very easy. I personally think that finding a project that you think will succeed in the future is hugely important because if a project 10x or 20x or even more than that that is a lot of money that you made passively by just hodling. You can also make great rewards in staking off of these investments. I personally have invested a lot into NEAR. NEAR gives me 11.2% apy on staking and it’s a project that I believe will be huge in the future. I also make my NFTs on NEAR because NEAR is so fast, cheap, and so easy to make NFTs on. There are lots of great projects, you just have to find them. If you haven’t looked into NEAR I also recommend you look into it, you may not love it but I think you will. It’s a great project and great for making passive income. There are also many different ways to earn money within the blockchain if you are looking for a side hustle.

Is NEAR already listed on CMC? I think I found something else there which is NEAR Protocol which has nothing to do with NFT, it's a project of building an app but I saw that it also has Staking because of POS. Or maybe you're referring to something else, is that already listed on other popular coin trackers?

I have also been able to have passive income just by staking on Defi platforms and I can say that it is worth it.

aryana42

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Quote from: Cappex on July 26, 2021, 03:17:18 AM

Always remember that it is essential to own the coins while they are staked, passive income will be a great way to maximize profits but not your keys not your crypto.

Why isn't that the only key to passive gain? Is there another key that everyone should have so that their passive income can be clearer and well-directed for them? because if one key is still not enough, then you have to explain the other key to everyone.

MSN02

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Having tokens in and of itself is a passive income. I also stale and make NFTs which are both passive incomes that are very easy. I personally think that finding a project that you think will succeed in the future is hugely important because if a project 10x or 20x or even more than that that is a lot of money that you made passively by just hodling. You can also make great rewards in staking off of these investments. I personally have invested a lot into NEAR. NEAR gives me 11.2% apy on staking and it’s a project that I believe will be huge in the future. I also make my NFTs on NEAR because NEAR is so fast, cheap, and so easy to make NFTs on. There are lots of great projects, you just have to find them. If you haven’t looked into NEAR I also recommend you look into it, you may not love it but I think you will. It’s a great project and great for making passive income. There are also many different ways to earn money within the blockchain if you are looking for a side hustle.

midaslordes

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Quote from: MadGamer on April 19, 2021, 01:02:39 PM

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.

Staking is a very good way to earn passive income while your funds is still in touch but I have a suggest that you try to do some play-to-earn NFT games because its the trend right now and its good that why your having fun playing, you tend to earn a very good amount of profit and earnings.

ChrisPop

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I think you should look at the risk as well. There is no "best" way to earn passive income and I recommend to take a good look at the risks associated. Personally I'd look elsewhere for passive income, unless I am an expert in DeFi and know the risks associated with any kind of token/protocol I want to invest in. The competition is also quite fierce, projects are popping out everywhere and personally I haven't seen a long enough track history to state that investing in DeFi is a reliable source of passive income (not worth risking high % of your net worth). But hey, that's just my humble 2 cents. I might be a much more conservative person than you are.

junkerr

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Quote from: Cadaver20 on July 27, 2021, 11:25:23 AM

I think staking Cake will be profitable. But it is a long term process. I am a very impatient person so I do not like long term process. If I had $5000 capital I would be trading and I think it is possible to earn more by trading.

trading is indeed simpler and experienced ones can get profits quickly.
but staking can also be profitable for certain market conditions. like a severe dump with no growth for a long time (as happened in 2018). I think staking can be more profitable than trading.

nebuch

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Good to stake cake. Already experienced that and had small amount earnings monthly. I staked around 10Cake and planning to hold it until this coming December. Cake is potential and becoming useful particularly it is known as the top gainer as Dex and next is uniswap. If I could have more money I will buy all in cake.

Traderbtcc

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Quote from: MrcMrc on April 19, 2021, 04:38:33 PM

I don’t believe the word passive income in cryptocurrency, as the entire processes in the cryptocurrency have no guaranteed steady profits making method, it’s base on speculation, risk, and high volatility.

I could have suggested staking, trading or mining crypto, but they all come with their unique risk and peculiarities.

I also don't believe that passive income word works in the crypto sphere,aside the speculation and high volatility, the risk most of these yield farming carry is just way too much, have witnessed tons of projects been hacked during this bull run and the investors never get back their money, I think its much better I trade with that money knowing fully well that I'm the one in charge other than using these Yield farms as passive income only to get rekt afterwards.

For staking I think its a nice way to earn more coins while holding unto your bag for longterm, the only problem with staking is that the APY's are relatively small and not encouraging, but a few days back I found out I can stake my near on Binance and get an 22% APY, and it's really good compared to atom which was just 9-11%,since I'm not planning to sell my near any time soon, I'm going to take advantage of the 22% APY I saw on Binance.

CryptoG99

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Quote from: Pithaxz on July 27, 2021, 08:07:15 AM

yes, to the best way to get passive income now is probably staking, so you can stake your investments on any cryptocurrency exchange and get a good income from it, but you need to find the best percentage and recently there are very low interest rates on the exchanges, but sometimes you can catch a very good percentage, so just go through all the exchanges and find the option you need, also new projects are constantly being released in which you can earn very good profit passively, but many of these projects are scam and you need to be very careful.

I am happy to let my ALGO, ADA, VET stake at they 2%-4%+. These are projects I believe in and getting returns on my investments are an extra bonus.
I am also staking my ETH as I believe in it long term and can't wait for 2.0 to come out.
Black Eye Galaxy is also a project I am excited about. Staking on nft planets! I have invested a little money that I am willing to lose, but it has also 10x since I bought in.

Topic: Passive income - page 8. (Read 3233 times)