TOP METHODS OF EARNING PASSIVE INCOME WITH CRYPTO CURRENCY

1. SELF-STAKING (PROOF OF STAKE)

Many modern crypto currencies are distributed via the proof of stake mechanism. This means that instead of using computational power to mine additional coins, you gain them for free just by holding some already. This can be compared roughly to a dividend pay out in the stock market. Some popular crypto currencies that use proof of stake are:

This is an incredibly safe method of earning income since you hold these funds in a personal wallet while staking.


2. LENDING PLATFORMS

There are many platforms that allow you to "stake" currency on their site for a profit. These funds are usually being lent out to other parties which generates the income required in order to pay you. In some cases your funds can be locked up for a period of time, so you'll need to make sure your funds aren't locked during a potential market peak where you may want access to them quickly. Popular sites include:

This is relatively safe, assuming you use a reputable company. Use the referral links above for a free sign-up bonus.


3. CRYPTO BACK VISA

There are several options available, but the current winner is the crypto back Visa from Crypto.com. By staking anywhere from $500 up to $500,000 worth of CRO (Crypto.com's native currency) on the card, you can earn enormous amounts of cash back per transaction. Current rewards range from 1% to 8% crypto back on each transaction, plus depending on the card you can have Spotify, Netflix, and Amazon Prime fully reimbursed. For an additional extra bonus, higher tiers will also pay 10% APY on your initial stake, paid weekly. This is the equivalent of a 10% dividend being paid out in addition to the other bonuses. Keep in mind that you can remove your staked coins at any point after 180 days if you decide you no longer want the card with no penalties.

Use the link above for a free signup bonus.


4. SHAKING SATS

One of the major crypto on and off ramps in Canada is Shake Pay. One unique feature of Shake Pay is that if you're referred to the platform or if you refer someone else, you unlock what they call "shaking sats" (sat is short for satoshi, a small fraction of bitcoin). By simply logging in and shaking your phone once a day, you'll receive free satoshis which increases with each consecutive day. Use the link above to start earning free bitcoin without any deposit required.

Using the link above will unlock the shaking sats feature on your new account.


5. YIELD FARMING

One of the more risky options however potentially the most profitable is yield farming. This involves chasing high yield opportunities by providing liquidity on various decentralized exchanges. Common networks for this include Ethereum, Binance Smart Chain, Polygon, and Solana.