Hello Everyone ‼️
🟢 How to earn Passive income as a Crypto User? 🤔
01 ) Staking
❇️ Staking is a process that’s present in all Proof-of-Stake (PoS) blockchain networks, such as Ethereum. For crypto enthusiasts, it’s also a popular way to earn passive income on existing investments, since it is relatively low-effort when compared to trading. Although Bitcoin is a proof of work mechanism, which means it's incompatible with staking, you can still tap into the income generation benefits of the process by converting BTC into ETH or any other compatible coin.
Staking your crypto essentially means you’ll be “locking up” your tokens for a specific period of time. In return, you’ll receive rewards in the form of the network’s native currency, either as new tokens or in transaction fees. This won’t be an approach that diehard Bitcoin enthusiasts will take, but if you want to make your investments work harder and are happy to switch to other coins, it’s certainly one to consider.
02) Liquidity Mining
❇️ The increasing popularity of decentralized crypto exchanges (DEXes) and mining pools makes liquidity mining a potential way for experienced crypto users to earn passive income. In short, this process involves depositing crypto tokens (in this case, BTC) into a liquidity pool, which then acts as a smart contract for the DEX. Using liquidity pools ensures that exchanges can process and ease more transactions within a coin’s network, while crypto owners themselves are granted a passive income in return for their contributions.
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