Income generation in a crypto space goes beyond trading. Let’s show you different ways to make passive income in a crypto space. While we talk about bitcoin, what generally comes first to our mind is a rapid rise & fall of the crypto prices & how the perfect timing or strategy in trading can generate huge profits. But, for that to happen we need to know how to earn bitcoin and choose the right way.
But, what if we ever told you trading is not an only way to make crypto? An advancement of the new technologies & innovations in the blockchain allows you make passive income in the crypto. You may actually make crypto when you sleep.
Make passive income in bitcoin through lending
Suppose you are more of the crypto HODL’er and do not have any further plans to use the tokens in near future, then crypto lending services offer the best way to make passive income when keeping the tokens. There’re a lot of services that provide this option. There are also different types of the crypto lending products, which cater to the lending preferences. You may choose the flexible deposits where there is the expected annual return & you have an option to withdraw and deposit in anytime. On the other hand, you may pick the fixed deposits, and where interest rates will be higher, however you need to retain funds for the set time frame, like the time deposit.
Where does interest come from while lending crypto?
There are a few crypto services that allocate funds they collect in the third-party products, services, or activities that will be expected to yield huge earnings and shared back to the lenders. Some crypto lending services keep their funds in-house, rather than pairing your money with the interest-yielding services.