Many economists will tell you that one of the best ways to become successful is by having a means to earn passive income. Today we see many internet millionaires coming up, and this is to no small extent due to the rise of ways to make a profit passively.
With Bitcoin and other cryptocurrencies growing daily, with their vast potential, it is only logical that having a passive means to earn Bitcoin can result in huge profits.
Lending services
Lending services use the concept of “letting your money work for you” and not you working for your money. Find a good lending company like Bitbond. This is a peer to peer lending company that uses Bitcoin as its capital. Bitcoin lending services have become a massive hit because suffice cryptocurrencies’ volatility they provide a relatively low risk.
You lend out your Bitcoin to someone who then returns them with interest incurred. However, since there is no business without risk one downside of Bitcoin lending services is the risk of the Bitcoin value plummeting. Since the loan was informed of Bitcoin, then the returns will be in Bitcoin hence will return significantly lower. But at the moment the odds of that are pretty slim with the constant rise in Bitcoin value.
Bitcoin Investment companies
There is a considerable risk in this kind of cryptocurrency passive income as the numbers of scam companies out there are many. But some legit companies actually offer a good return. You give your Bitcoins out to these companies who then invest it on your behave and/or in their business. They will then pay you back the initial investment with interest. Again the concept of letting your money work for you is highly visible in this investment opportunity.
Holding your Bitcoin
In passive investments like the stock market, the best move is sometimes to hold. Hold your Bitcoin and let the value rise. For example, if the cost of a Bitcoin is at $3000 and you decide to hold for a period. With the value of Bitcoin still raising you may find out that once you decide to sell the value has risen to $3500. And just like that, you would have earned a profit of $500 without doing anything.
Cloud Mining
Bitcoin and other cryptocurrencies can be earned by mining. Suffice this not being a conventional way to earn Bitcoins passively; it still falls under this category to some extent. Cloud mining does not need you to buy any mining hardware hence much cheaper and more accessible. With cloud mining, you use a shared server and service to mine the Bitcoins. You earn a little every time, and does not require you to languish on your computer screen all the time, making it, in essence, a passive way to earn Bitcoins.
Use as collateral in the stock market
Again, this is not a conventional way to earn passive Bitcoins. But you can use Bitcoins to act as collateral in the stock market as you trade in other commodities. This is a great way to make double profits because by using Bitcoin as collateral, you are still, in essence, holding it giving it time for its value to grow. While at the same time as you are trading in the stock market and making profits in other commodities. It is a win-win situation all round if done correctly.
