Earning passive income is not just a privilege of high-net-worth individuals, writes Analytics Insight.
Most of us already have some wealth that can be utilized to generate a passive income and make the money work in our favor.
Unlike traditional mining, cloud mining does not require the use of specialized equipment or extensive knowledge bases. It also does not need 24-hour operation and maintenance. It is enough to rent computing power for cloud mining and obtain cloud mining contracts. After purchasing the contract, you can withdraw money at any time.
Cryptocurrencies have gradually become mainstream and have provided solid passive income for many investors. However, there is always a risk involved. While some cryptocurrencies have easily doubled investors’ money, others, like LUNA, once a top ten cryptocurrency, lost virtually all their value in days.
Some tokens provide investors with part of the profits realized by the company that created them. Simply holding a token will provide you with a percentage of the project’s earnings. The portion of the income you receive depends on your staked token balance.
Lightning Network Nodes
The Lightning Network is a second-tier system built on blockchain technologies. It is appropriate for quick payments that do not need to be immediately uploaded to the main blockchain. You can generate cryptocurrency by running a lightning network node and charging a small fee to users who use your node to complete transactions.
Cryptocurrency lending is similar to traditional cash financing where a debtor pays interest to the lender.
Learn to Earn
Some platforms compensate users with cryptocurrency for learning about them. The users receive coins after they watch videos or complete quizzes. The content is usually centered on specific altcoins.
There are more traditional options too!
Fred Hubler, Chief Wealth Strategist and CEO of Creative Capital Wealth Management Group which specializes on retainer based advice and alternative investment strategies believes in more tradition ways. According to Hubler, “if you can get passive income to be greater than your lifestyle expenses, then you are out of the rat race.”
“We believe,” Hubler continues, “in more traditional passive income options and have used direct institutional real estate ownership via DST’s and income producing private investments as good sources of this passive income.”
Read more about traditional and less-traditional ways to generate passive income in Analytics Insight.
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