The 4 Best Ways To Make Passive Income With Your Cryptocurrency

What is goodie, my peoples? We're back again with another gem. Now this video is finna be a certified banger. I'm gonna help y'all learn how y'all can make money from your cryptocurrency while making money from your cryptocurrency while it's making— I'm gonna give y'all a bunch of tips. Y'all finna make some good money. So like the video right now. Let's just get right into this. So if you don't know what passive income is, passive income is basically the act of— I've talked about this multiple times. Just go back, watch my old videos. But passive income is literally income that is made passively, as in I just defined a word with using the word, didn't I? But it's basically when you're making money by basically doing the bare minimum, as in you could be sleeping while you're making money. The money is just— it's your money making more money, if that makes sense. You can see why it is appealing to most people, if not all people. We all would love to make money in our sleep and by doing absolutely nothing. So today I'm going to show you guys how you guys can make passive income using your cryptocurrency if you're already holding cryptocurrency. If you're not holding cryptocurrency, listen, I got a deal for y'all. Link inside description. You can sign up on Coinbase, sign up, deposit $100, you can just have $10 worth of free crypto. You can start earning passive income on that. Or, you feel me, if you already have crypto, I'm gonna show y'all how y'all can make more money using your crypto. So I got 4 different methods for you guys on how you guys can earn passive income on your cryptocurrency. I feel like when I'm making videos, I always do stuff with my hands. Why? I'm gonna show you guys how you can make passive income. I said that already, didn't I? First tip, let's just hop right into it since I'm failing to talk about literally anything at this point in my life. Mining cryptocurrency. Now, if you do not know, mining is basically— ah, here I go with my hands again, huh? So what is mining cryptocurrency, you might ask? Well, I'm glad you asked, if you asked. But cryptocurrency is made of two different ways: proof of stake and proof of work. We'll get to proof of stake later. We're talking about proof of work now, which is which is basically mining. So for example, simple, simple example, not to get too in-depth. Let's say you used to be mining gold back in the day, right? You're in the cave, you got your goggles on, the helmet, you got the pitchfork and you mining, you feel me? You mining, you looking for that gold, you trying to, you feel me, find that gold. In real life, you're using your physical energy. You're going through all the work, you're doing all the hard labor, but with cryptocurrency it's different. It's computers basically being used as these super calculators to try and guess the answers to these complex equations that will in turn pay you cryptocurrency. So that is what the whole proof of work thing is. It costs a lot of energy, which we'll get into a little bit later, but you're technically not doing any work. It's technically like you're setting up computers and they're doing all the work for you mining Bitcoin, and in turn it's paying you the Bitcoin or the Ethereum or XRP, whatever it is. Now mining Bitcoin can be profitable if you have a lot of upfront money because like I said, in order to do these, you need to have some computers, some just beasts of systems that are dedicated to mining these cryptocurrencies, for example, just these Bitcoins, and these computers are not cheap. These computers can run from $2,000 to like $10,000 each. Now, you might be saying, oh, $2,000, $10,000, that's not bad if it's paying me a whole freaking Bitcoin a day. Well, that is not the case. So, on average, right, each miner, let's say you have a regular one that costs somewhere between the, $2,000 to $10,000 range. Let's just say $5,000, right? So say you have one of them. Each one usually per day pays about $5 a day, right? Now that's decent, that's okay, you feel me? That's great passive income. Like I said, you just kind of set it up there and it's not doing anything. It's just mining you Bitcoin while you're going about at your regular job, going about brushing your teeth, taking a poop, whatever the heck you're doing. It's mining it constantly., but that $5 turns into $1.50 because the average daily cost of the electricity that I use— I told you guys I use a bunch of electricity— is about $3.50. So your net profit is only $1.50 a day. So that's not that appealing. Now, maybe 10 years ago this would have been a very, very, very good source of income, but these days it's really not. And plus Cryptos are, are trying to move out of the phase of being proof of work, um, and going to the phase of being proof of stake, which we'll get in later what that is, how that works, how you can make money with proof of stake. But as for mining, it can be profitable. Like I said, if you have a bunch of upfront costs, like let's say you have $150,000, you could buy 100 of these miners, therefore making you $10 or $15 a day passively for doing absolutely nothing. That's the net profit 'Cause $1.50 a day, 'cause $5 a day, $3.50, and $1— you know what I'm saying? I did the math. It's 150— I mean, it's 15. I'm saying 150. I can't even math myself. But you could be making $15 a day for doing absolutely nothing, completely passively. But you need to have a lot of upfront costs, like I said. So let's move to the next source of passive income in case you don't have a million dollars sitting around. Staking. Now I talked to you guys about proof of work, and here's proof of stake, which is different in the fact that instead of you using, or these computers using, all this energy, um, having these, these big old computers that solve these complex questions, instead of using that to get cryptocurrency, instead you're using cryptocurrency to get cryptocurrency. It's like having your money work for itself. But it's your crypto working to get more crypto. It's like, hey, I got 10 Bitcoins. Your Bitcoins go out, talk to the other Bitcoins. Yo, Bitcoins, come here, I got a good wallet for you to sit in, you feel me? And it brings other Bitcoins, so now you got 11 Bitcoins because it went out. That was a bad example, but that's basically what it is. You're using crypto to get other crypto. How it works is you basically lock your cryptocurrency into a pool of more cryptocurrency. So for example, let's use Bitcoin. You lock your Bitcoin into a pool of more Bitcoin from other people, and that is used to create the energy necessary to mine more Bitcoin. But it's not mining, it's just proof of stake. Like I said, it's Bitcoin. Hey friends over there, Bitcoin, come here, you feel me? That type of thing. If you guys watch my dividend, um, investing video a little while back, it's linked right up there. This is kind of like dividend investing but for crypto, just due to the fact that it pays you annually. Every year pay you a certain amount of percentage plus you'll make money on the gains of your coin. So say you have $10,000 worth of Bitcoin, right? The price of Bitcoin is at $10,000 right now. You have 1 whole Bitcoin. You put your Bitcoin into this staking pool, right? They're offering you 12% annually. So you're making every year, you're making 12% of $1,200 every single year, plus the price of Bitcoin went up to $15. So you have your 1 Bitcoin that is now worth $15, plus the interest that they paid you for staking your cryptocurrency inside their pool of the extra $1,500. So now your Bitcoin is worth, instead of $10,000 which was originally, is now worth $16,050. $16,050. Yeah, $16,050. Did that make that confusing? No, but you surely made it wrong. Now this is a great source of passive income because like I said, it's literally you're not doing anything. You're kind of just putting your cryptocurrency in there and it's just making money. A lot of the staking programs will pay you out, um, monthly. Most of the time it's monthly. It's never really weekly or daily or anything like that. It's most of the time monthly, which is still good to be making some extra money every single month for doing nothing, for still literally holding your cryptocurrency. Let's say you're— if you're already holding cryptocurrency, it does make sense to do something like this or think about something like this, because instead of just holding your currency and waiting for the price to go up and making the money off the gains of the price of each coin going up, you can be making double the profits with getting the interest from staking as well as the profits of the coin going up. Now there are some downsides to this, because like I said, you have to put your Bitcoin inside these staking pools, and a lot of them have restrictions or locking times, they call it, where you have to keep it in there for, let's say, like a month, or you keep it in there for 60 days or 90 days, and then you can't touch your cryptocurrency. You can't sell it, you can't exchange it, you can't send it to other people. It's literally stuck in that pool. And also, there's sometimes a minimum, like, amount that you need to put in there. So let's say for Bitcoin, it might be you need to put 5 Bitcoins in there. That's an exaggeration, it's not it. Let's say 4 Bitcoins, you gotta put 1 Bitcoin in the pool, and if you don't have 1 Bitcoin, then you can't go forward in like staking it at all. You need to have at least 1 Bitcoin. So that can be another downside of it, but if you do have these things, it can be very profitable as well as pretty safe because you're not really going to lose the money. The money does not— when it's in the pool, you're not it's very, very, very, very, very unlikely for you to lose your cryptocurrency that you put in the pool for staking. But like I said, this could be a great source of additional passive income if you're the type of person who kind of just has cryptocurrency just sitting around. You don't really do much with it, you don't day trade it, you don't exchange it out, and you just want to make some extra money on it. You might as well just throw in some staking. But I do have some more, um, passive income ideas for you guys to look into or think about before you go ahead and putting all of your freaking money into staking pools. Now keep in mind, I've tried all of these tips before. I've tried mining, I've tried staking, but this one I'm about to tell you guys is literally— I was about to say probably, but this is literally my favorite way of passive income that I constantly use right now. I made a video about it before, but let's just get right into this. It's called lending crypto. Lending crypto is essentially what it sounds like. Lending crypto. But instead of it, like, you're not lending person-to-person crypto. Like, you're not lending 10 Bitcoins to your buddy Jonathan, you feel me, the one that still ain't paid you back from third grade. It's not like that. You're basically depositing your cryptocurrency into a certain exchange that is lending other people out cryptocurrency. So on that same exchange, you can either take a loan out for, um, against your cryptocurrency, or you can hold your cryptocurrency in there and gain interest from just having your cryptocurrency in there. It's a lot like staking, but it's much better because you don't have your money locked in there. You can move your cryptocurrency whenever you want. You can sell it, trade it whenever. It's not stuck in a staking pool. So it's much better for that. Also, the payouts could be a lot higher. Also, you don't need a minimum amount of crypto to put into these exchanges. So there are a bunch of different exchanges for this whole lending crypto thing. There's BlockFi, there's Nexo, there's, um, Gemini Earn, there's Celsius, which is what I use. I made a video about it before. I actually just put $100,000 into that app. I'm going to be showing you guys how much I make passively on that in a video later on this month. If you didn't watch it, go check it out. It's right there. It's a great video if you want to get into making money with your crypto while your crypto is making money. Because like I said, with the whole lending program, it's the same as staking where you're making the passive income that they're paying you as well as the price of the cryptocurrency is going up, so you're making gains on that as well. It's a win-win situation. You're getting double paid here. People who are not doing this are literally missing out on free money. This is free money, man. Get yourself some free money. Like I said, there are a bunch of different exchanges. The most popular one is BlockFi. I used to use BlockFi for a little bit, but then they had, like, a couple weeks ago, they sent out like $700 million mistakenly. They sent out $700 million worth of crypto to like a bunch of different people. And it would be cool if I got that money, but just like seeing that big of a mistake, it's like it makes me kind of wary about the company. So I started looking for more companies, and that's when I found the one I use now, Celsius. I like it personally. It pays you out, um, interest every week. You don't have to hold a certain amount in there. Also, your crypto is not stuck in there like how it is with staking. You can look at it as kind of like a savings account on freaking steroids. Because we know most savings accounts, like with banks, they're paying you like what, maybe 1% every year. With these, you can earn up to, I believe, one of the cryptocurrencies on there, like you can, um, there's different annual interest for each cryptocurrency. If you didn't watch the video, go watch it. I kind of broke it down, um, the video I made about the Celsius app. But I believe it goes up to 16% annually, which is absolutely crazy. On Bitcoin, you can earn 6%. On Ethereum, you can earn 5%. All these percentages is just extra money on top on top of the percentage gains that you'll get when Ethereum or Bitcoin goes up. So this is another great source of passive income. Like I said, you're literally doing nothing except for holding your money in here, and they'll pay you every single week, which is just— it's like you're working a job but not working, you feel me? This is free game, man. But like I said, y'all can sign up for Celsius, link inside the description, or you can check out the other ones that I mentioned: Nexo, Gemini Earn, or BlockFi. There's a bunch of different ones, but I personally just use and suggest Celsius. Now the last source of passive income I have for you guys is kind of just hodling your crypto. I'll say it's nothing crazy. It's not— I'm finna tell you you finna make $100 million, but it's literally hodling crypto is passive income. Because even with the stock market, the stock market, it's all— it's literally been on like incline— is that the right word? It's been on an uptrend all throughout the years. Do not look at the dips. It goes up, down, up, down. You might— if you look on a yearly time frame, you might see, oh, it's down 30% this year, but 5-year time frame, it's up. The stock market is always on a gradual climb up. Same thing with the crypto market, it's always on a gradual line up. So if you're hodling for the long term, you're making money passively. You're sitting in your bed, the price of Ethereum, Bitcoin is literally going up. Yes, it does go down. You might lose 30% one day, you might lose You might lose 90% one day, but like I said, in the long run, all crypto and all stocks are always on an uptrend. That's just how the markets are. And crypto is such a new market as well, and crypto has just now like started becoming popular in 2010, 2011, 2012, and the market itself is just booming the past 3, 4 years. So we have a lot of growth to go, so it will be on a steady upgrade. Uptrend for a very long time. So like I said, if you're in it for the long term and you're just hodling your money in there, that is passive income because you are making money while doing absolutely nothing. I hope you guys were able to get something out of this. Hope you guys got some tips on how you can make money on top of your money on top of your money on top of your money. You feel me? I highly suggest you guys getting into, um, loaning your crypto or putting it on these exchanges that allow loans. Like I said, Celsius, you use the link inside the description, sign up, deposit $400, you get $40 worth of crypto. You can use these other apps, BlockFi, Nexo, whatever it is you want to use. I just highly suggest you get into it. Yes, you can still keep some of your crypto on Coinbase or any other exchange you have, but you want to diversify your portfolio, put some of your coins on different exchanges, especially these exchanges that offer you interest so you can earn passive income. But if you enjoyed the video, make sure you like right now. Let me know in the comments down below what you guys think, if you guys use any of these sources of passive income, or if you guys have any other sources of passive income that I might not know about, you feel me? Put me on game. And I'll see you on the next video. Good luck on all your trades. Stay winning. Everybody going to the moon. Crypto to the moon. Your mama's to the moon. I'mma just go. Goodbye.