Ways to make passive income in crypto with altcoins - page 2.

timerland

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Quote from: reality18 on August 31, 2021, 04:29:49 AM

After performing an extensive “DYOR” on cryptocurrencies, it turns out that there are different avenues to make profit or gains within the crypto space. Based on your expertise, which avenues works the most gains for you and why?

Try staking.

ETH staking right now is yielding around 5% APY and that's attractive returns added onto any potential ETH/USD returns in the first place.

Also you could try margin lending on major exchanges/lending on centralized platforms such as Celsius. Although that is probably a lot more risky and you are subject to counterparty risk as you no longer have control over your coins for the time period.

jaberwock

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Quote from: OrangeII on September 02, 2021, 11:35:31 AM

Within this scope, I feel that there are two biggest ways to generate passive income from cryptocurrencies, and I also use them and see other people using them.
the first is trading. although the risk is big, but I think we can control that risk by creating a safe zone when we trade, whether it's in the short term or long term. however, I do most of the long term trades. waiting for the right time always gives a very good profit.
The second is staking. the origin is very easy, it's because we don't need to do anything, and nowadays this method is very popular. however, we just need to keep the coins or tokens we have to earn interest from it. it's just that, from every passive income, there is a risk. well, I trade most of the time, and hold it.

What I do not understand about people is that "trading" is not passive, in order to trade you have to buy and sell which is not something simple because you have to learn so much about trading and be good at it and spend hours finding good trades to make as well. It is literally work and I rather work to do something else and earn money that way if I do not have big enough capital.

This is not passive income, passive income means that you work once and you do something and then it will earn you money even while you are not working, even while you are sleeping. Staking is like that, you put money in at first but then you never do anything, you literally just go live your life and you are still making a profit while eating or sleeping or watching a movie. Now THAT'S a passive income. Which is why trading is not a passive income and could never be considered one.

Zamoh

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Quote from: isaac_clarke22 on September 02, 2021, 02:26:53 PM

I am curious though. How long do you do your "short-term trading"? Are you day trading or something? I quit my day trading strategy long time ago, because I don't have all the time due to my work schedules.

Usually the end of the trading strategy like :"short-term trading" occurs when money runs out. I think short-term trading detrimental effect on the crypto portfolio

isaac_clarke22

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Quote from: ?? on ??

Quote from: reality18 on August 31, 2021, 04:29:49 AM

~

For myself at the moment trading is a good one for me. I do two things..trade short term and long term. Short term is usually to fill my spare time and hone my trading skills in the market . The results from short-term trading I use for daily needs and the rest I save. As for the long term, for my future preparation later...because there are things I want to achieve.

I am curious though. How long do you do your "short-term trading"? Are you day trading or something? I quit my day trading strategy long time ago, because I don't have all the time due to my work schedules.

Rakeshten

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My way is only spot trading. This is very good and profitable if you are smart. You can get profit in long run by investing in the strong projects. And also by short investment. My religion doesn't allow me to earn by staking so I don't make by it. I believe we can earn enough with spot trading.

Valak

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Quote from: reality18 on August 31, 2021, 04:29:49 AM

After performing an extensive “DYOR” on cryptocurrencies, it turns out that there are different avenues to make profit or gains within the crypto space. Based on your expertise, which avenues works the most gains for you and why?

Trading is a method that can be used to make passive income. Because we can target profits from every investment we make. Of course the method used is short-term trading.

Golftech

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Quote from: Silberman on September 02, 2021, 01:00:31 PM

Quote from: reality18 on August 31, 2021, 04:29:49 AM

After performing an extensive “DYOR” on cryptocurrencies, it turns out that there are different avenues to make profit or gains within the crypto space. Based on your expertise, which avenues works the most gains for you and why?

All of those forms of making passive money with altcoins come down to simply holding, if you stake your coins for example then you need to hold those altcoins in order to receive the profits that you want from your staking, however as it has been said many times before in the forum, the only coin that you can hold for the long term is bitcoin every single other coin is too risky for this and if you do then be prepared to lose all your money in a heartbeat if that coin happens to crash while you are holding it.

Considering how it was said, after extensive DYOR, so you are already convinced that certain assets aside
from Bitcoin can be used as a token of your investment. The chance of sorting or picking the right asset away from Bitcoin is
also possible inside this market, the only thing that needed is to practice deeper in holding and trusting the
coin that you select, from that, all those chosen venues have the capabilities to provide passive benefits to your money.

Silberman

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Quote from: reality18 on August 31, 2021, 04:29:49 AM

After performing an extensive “DYOR” on cryptocurrencies, it turns out that there are different avenues to make profit or gains within the crypto space. Based on your expertise, which avenues works the most gains for you and why?

All of those forms of making passive money with altcoins come down to simply holding, if you stake your coins for example then you need to hold those altcoins in order to receive the profits that you want from your staking, however as it has been said many times before in the forum, the only coin that you can hold for the long term is bitcoin every single other coin is too risky for this and if you do then be prepared to lose all your money in a heartbeat if that coin happens to crash while you are holding it.

MaiQwaN

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I don't have that much free time to deal with daily trading. Therefore, I prefer to buy a poplar coin and hold it for a long time. Perhaps my choice will be correct and I will be lucky.

boled

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Quote from: OrangeII on September 02, 2021, 11:35:31 AM

~snip
the first is trading. although the risk is big, but I think we can control that risk by creating a safe zone when we trade, whether it's in the short term or long term. however, I do most of the long term trades. waiting for the right time always gives a very good profit.

I agree with you, but most people are impatient to wait, so most of them lose, which is the best way that most winners do. But I don't recommend this for obscure tokens, I'm mostly holding trading on old coins. It takes in-depth analysis if you do it on new tokens, most people will do scalping if you play on new tokens, not even a few do hit and run.
Actually, I'm still curious, is trading in the passive income category? because it seems we have to do a lot of things when trading, analyzing candles, checking price movements, looking at volume, diligently searching and following the news, plus we have to linger in front of the screen.

Benefactor

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However, marking is a decent method to make easy revenue, while exchanging can be our method of living by bringing in cash. However, the entirety of that, you will have a danger by utilizing exchanging and marking to bring in cash and you ought to acknowledge the danger. These two are unique, so search for what suits best for you. For my situation, the appropriate response is marking for crypto and exchanging for fiat. On the off chance that you need detached USD pay, exchanging presumably works better insofar as you're a decent broker.

tvplus006

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To the Moon

Quote from: CaVO32 on September 01, 2021, 05:38:19 PM

Quote from: Anonymous100 on September 01, 2021, 05:28:10 PM

Quote from: reality18 on August 31, 2021, 04:29:49 AM

After performing an extensive “DYOR” on cryptocurrencies, it turns out that there are different avenues to make profit or gains within the crypto space. Based on your expertise, which avenues works the most gains for you and why?

Staking is my favorite method, as it is doubly profitable compared to the others. The number of coins will increase all the time, and the price of coins will of course continue to increase in the future.

Remember, not all staking coins have the chance to continuously increase. Most of them are actually declining in value as they have only good price at the beginning of their trading life. But I did earn some owed to staking coins. But you need to really keep up with them, or else, their value will go down the drain without you knowing. Follow the social media of the team behind it so you have idea what is going on with their developments.

Indeed, it often happens that the number of coins in the wallet increases, and the value of the asset in dollar terms decreases. This most often happens with new coins. And very often it can be identified as a scam, when a team issues a new coin and deliberately devalues it.

OrangeII

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Within this scope, I feel that there are two biggest ways to generate passive income from cryptocurrencies, and I also use them and see other people using them.
the first is trading. although the risk is big, but I think we can control that risk by creating a safe zone when we trade, whether it's in the short term or long term. however, I do most of the long term trades. waiting for the right time always gives a very good profit.
The second is staking. the origin is very easy, it's because we don't need to do anything, and nowadays this method is very popular. however, we just need to keep the coins or tokens we have to earn interest from it. it's just that, from every passive income, there is a risk. well, I trade most of the time, and hold it.

Dread Pirate Roberts

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Quote from: reality18 on August 31, 2021, 04:29:49 AM

After performing an extensive “DYOR” on cryptocurrencies, it turns out that there are different avenues to make profit or gains within the crypto space. Based on your expertise, which avenues works the most gains for you and why?

so far there have been many innovations in crypto. it seems that currently always giving me profit compared to Defi / ICO is NFT games / play to earn games. so far it is . but I also can not recommend to anyone about . because there are risks too. and its back again to concept DYOR.

dimonstration

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Dimon69

Quote from: marine4u on September 02, 2021, 05:26:52 AM

Quote from: Yudhisthir on September 02, 2021, 05:15:57 AM

In my experience, Trading is the most rewarding one for me.

For me, only Hodl is the best passive income generator for altcoin, even bitcoin. A few other methods are trading but this is active, not passive. In addition, Staking/farming is just an additional form, extending the benefits in a different way to Hodl but it is not entirely passive.

Holding is not a passive income, crypto price is unstable and changes in price every now and then, it is good if it alway high but there are drops that happen. Staking can be but we must be careful on where to stake our money. There is no really passive income unless we are consistent in trading with a a good coins. Now playing xie or alike games can be a help to hopefully it will last long.

marine4u

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Quote from: Yudhisthir on September 02, 2021, 05:15:57 AM

In my experience, Trading is the most rewarding one for me.

For me, only Hodl is the best passive income generator for altcoin, even bitcoin. A few other methods are trading but this is active, not passive. In addition, Staking/farming is just an additional form, extending the benefits in a different way to Hodl but it is not entirely passive.

Yudhisthir

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www.Artemis.co

In my experience, Trading is the most rewarding one for me.
I made an table to find the fields which rewarded me the most in last one years. That included Staking, Yield farming and Trading (bot).
The most I earned and retained was through Trading (bot). Staking are stable but has lower rates and the profit depends on the price of staking token. Yield farming are high earners but they are difficult to track, maintain and compound. Some of my yield were just lost due to wrong investment yet the overall result were on par with Trading (bot) which is much saer and less painful way to earn.

indah rezqi

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Trading in my opinion is currently the most profitable job. To be able to meet daily needs, short-term trading is very satisfying. It only takes some time in a matter of hours by using analytical skills, already getting a profit of 30% of the capital. But don't be greedy.

Emitdama

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Quote from: reality18 on August 31, 2021, 04:29:49 AM

After performing an extensive “DYOR” on cryptocurrencies, it turns out that there are different avenues to make profit or gains within the crypto space. Based on your expertise, which avenues works the most gains for you and why?

Trading is a good one to do, I have been doing trade for long and it has been working really well for me. Apart from trading I also Hodl, that’s what I mostly what I do because I don’t get the chance to be trading all the time. There are lots of other ways you can earn with altcoins and some people stake their coins, but I am not into that one because I am not really interested, haven’t seen anything that will interest me to do that, so I just look for something else to do instead of that. Maybe I will try it someday, but for now it doesn’t interest me.

gwdf1

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Personally I am in favour of yeild farming and staking. I used to earn there 100% in a week, but unfortunately trends have changed so the most profitable thing now is investing in NFT-projects. Especially in NFT-gaming. Moreover, it is difficult to guess if your investment in NFT art will be successful. Nevertheless, if you enter the game at an early stage, you are more likely to return your investment.

Topic: Ways to make passive income in crypto with altcoins - page 2. (Read 598 times)