Passively earning in crypto without trading.
Passively earning in crypto without trading.
There is a lot of transformation and development that has happened in the crypto space over the last decade. Back in the days, investors have to buy BTC and HODL for long timeand wait for the bullrun to earn. Along the line, crypto trading came up which has been an integral part of crypto since its introduction.
In order to bring more passive means of earning, staking, savings and lots of innovation came up to reward investors who are not willing to embark on trading but also want to earn from their crypto holdings. This strategy was quite more rampant during the bear market where products like Binance launchpool, high yield earns and Bitget sharkfin, dual investment and the rest where the best strategy to navigate the storm of the season.
With the bull market insight, seems a lot of people are enjoying the pumps from several coins they have invested in during the bear market but for those that didn’t invest during that period, this product can still be utilized as the APRs have increased significantly unlike the bear market.
Or are there other passive ways of earning you will recommend for those that already missed the ongoing pump and are skeptical of price dumping on them?
Holding for me outside exchange is still considered as a passive way of earning, you may not earn through the quantity of your holding unlike staking and interest rates coming from exchanges but you don’t hold the private keys there. I’ll choose to own and have it and see it grow in paper value than of seeing it have more in small amounts through quantity based on the percentage reward that they’re giving to the depositors or holders of their vaults. I just find this as a better way to increase the profit through holding and that’s why I consider it as a passive income. Also, you don’t get to trade with that as it seems safer than all of those options.
These methods are based on providing liquidity to users. In the current market, there is a scarcity of stablecoins and an abundance of Bitcoin, so it is easy for them to ask you for Bitcoin or stable currencies in order to obtain more stablecoins.
Therefore, with the increase in the price of Bitcoin, these projects succeed in attracting liquidity, but as soon as the price correction occurs, all of these services will end up in bankruptcy, so be careful and withdraw all your assets from them before the price correction begins.