January 27, 2023

Transpero

Tiny articles, big solutions.

Ways You Can Make Money Using Cryptocurrency

ways to make money cryptocurrency
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Cryptocurrencies are still in their infancy, which means that they haven’t had enough time to be widely adopted by the general public. However, there’s no doubt that this will change over time as cryptocurrencies including crypto pairs such as KCS USDT will become more popular and people realize that they can earn passive income from them. 

In this article, we’ll show you how you can start earning passive crypto income now and for free.

What is crypto passive income?

Crypto passive income is one way for people to earn money from cryptocurrencies without having to spend their time day trading or mining. The idea is that, rather than spending time and energy mining (a very technical process) or actively trading cryptocurrencies, you invest your money into an exchange-traded fund (ETF) or index fund (a collective of various investments). 

Passive income is the result of a combination of two things: time and money. In order to generate passive income with crypto, you need to invest your money into a mining pool so that you can mine cryptocurrency.

Ways To Earn Passive Income in Crypto

Stake coins

Staking coins is one of the easiest ways to earn passive income, but it can also be a bit risky. If you’re not careful, you could lose your investment if you stake coins in the wrong project. That said, the benefits are undeniable: when you stake coins in a project, your computer automatically processes transactions for that project and gets paid for doing so.

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Participate in yield farming

In yield farming, you lend your cryptocurrency assets to other people for a fee. Yield farming is an activity that’s similar to being a money lender or pawnbroker, but with digital assets instead of physical goods.

You can participate in yield farming by creating an account at one of the many yield-farming platforms available online, such as BlockFi and Compound Finance (which are currently only available to U.S residents). 

Join Airdrops

An airdrop is when a company or project distributes free cryptocurrency in exchange for you joining their community. Airdrops can be very lucrative if you know how to find them and participate in them correctly. 

There are two ways to join an airdrop: by signing up on their website or by verifying your identity via social media accounts (such as Twitter, Facebook, etc.) If the project doesn’t offer both options then it’s probably not worth joining since they might just be ask ing for your personal information without actually providing anything in return!

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Refer a friend

One of the simplest ways to earn passive income with crypto is by referring others. There are many options, but one of the best examples is the Binance referral program, which gives you a 20% commission on each trade made by your referrals.

Another great way to earn passive income with crypto is through Coinbase’s Shift service, where you can send cryptocurrency in one currency and receive it as another currency without having to go through an exchange like Coinbase or Gemini (which both have higher fees).

Play To Earn Games (P2E)

You can earn crypto by playing games. The best way to do this is by playing games where you get paid in cryptocurrency for completing tasks and winning challenges. Some of these games include Presearch, which lets you earn search engine tokens for searching the web; Xwin CryptoBet, a gambling platform that pays out in ether; and CryptoKitties, which allows players to buy and sell digital kittens with ether.

Cloud Mining

Cloud mining is a way of earning cryptocurrency without having to buy and maintain the hardware yourself. Instead, you invest in a cloud mining company, which allows you to lease its hardware. In return, you get a share of the profits from that company’s mining activities.

The idea behind cloud mining is simple: if we can use our personal computers for work that requires large amounts of computing power (like running complex algorithms), why not also use them for other jobs? After all, these machines are already paid for—you just need someone else to pay for the electricity required by your computer when it’s doing these tasks.

Crypto Trading

Cryptocurrency trading is a form of trading (like the stock market) that lets you earn money from your investments without actually having to manage them. Trades are done through a crypto exchange, which operates very similarly to the stock exchange. 

You can buy and sell cryptocurrency for US dollars or other fiat currencies, and those trades can be made into smart contracts (a program that automatically acts when certain conditions are met). This means that you can have your money working for you without doing all the work of tracking it yourself. 

Dividend-earning Tokens

Dividend-earning tokens are an emerging asset class that provide a passive income stream for HODLers. They’re essentially cryptocurrencies that pay out regular dividends to their holders, or those who hold their coins in the form of an investment vehicle for at least one year.

For example, if you hold 1% of a company’s share capital, you would receive 1% of its profits as dividends. This is how companies reward shareholders by paying them regularly—either as cash payments or by issuing more shares (in a process called stock buybacks).

Cashbacks on Crypto Cards

If you have a crypto credit card or debit card, you can get cashback on it. This is not a new concept. Cashback cards are regular credit cards that pay rewards to users for using them.

In the case of cryptocurrency, however, there is an added perk: the payment that comes with your transaction could be in cryptocurrency itself! If this sounds good to you and you want to start getting cash back rewards in crypto instead of fiat currency (dollars), then here’s what you should know about how it works and how to get started: