I felt there has to be another method to earn money in the Crypto industry after making 2–3x on a handful of my crypto investments, last year and seeing it all go away because I was Diamon-handed.
The majority of experts and connoisseurs will advise you to purchase and hold. Yes, it is an excellent plan. But how can we generate money in the meantime? How can we maintain filling our bags while our money is limited?
I'm tearing up my first DeFi project, digging and digging. Anchor protocol is a fantastic initiative that pays out roughly 19 percent APY. That was great until I discovered I was only going to make $16 per month on my $1,000 investment.
I kept investigating and discovered that there was more. I made it to Wonderland, and it was fun while it lasted. Until it crashed, I was averaging $50–75 every week, and my weekly income went from safe to sifu.The first piece of advice I'd give myself is to diversify my interests.
What if I invested in ten "Wonderland" or passive income ventures, distributed my risk, and generated a ten-thousand-dollar passive income stream?So I had this insane plan to start off with barely $800 in my bank account. TIME, THOR, POLAR, and TITANO were purchased. I'm now averaging $80-$100 every week, but my objective is to expand it to 2.5k per week.
I go into detail about how I want to achieve it below.
The strategy is to play ten times for a total of ten thousand dollars."Save, invest, profit, rinse, and repeat," says the adage.There are several methods to get passive money in DeFi land. There's a lot more than I can say in this space. The ones I'll be concentrating on are:
NODES
Nodes come in a variety of shapes and sizes, but in essence, they are servers in a decentralized network. Their primary responsibilities include maintaining consensus among other nodes, verifying transactions, and storing a copy of the blockchain.
Node-based passive income:What they perform and how you are compensated varies from project to project. Let's take one of the most well-known, and one that I possess, THOR.NAAS is a service provided by THOR nodes (Node as a service).
How it works is as follows:
1.25 Thor tokens are purchased (their native token).You use your online wallet to authorize a contract (Meta Mask)Create your node and give it a name.They handle everything for you, take a cut, and you get your money.
Isn't it simple?
Simply to put things in context. At a cost of $150 per token, you spend $187.5 on a 1.25 THOR token. You get 0.008 $THOR every day, which is $1.2 per day or $8.4 per week.
Important: You cannot take your tokens back once you've created a node. You can only rely on the daily revenue you will receive after it has been formed. But, as you'll see below, this might be a positive thing.
It takes less time to return your original investment if the price rises. If Thor's price rises to $300, you'll be paying $16 every week instead of $8.
Because you can only get a percentage of your money back, this might assist with price stability and collapse.While the project is running, you'll have a steady stream of passive revenue.