A passive income provides an enticing prospect in the ever-evolving cryptocurrency landscape. While crypto can be used to earn passively, there are also risks associated with it.
Ways to Earn With Crypto
Cryptocurrencies enable anyone with an internet connection to participate in a distributed economy through its unique financial instruments. This includes passive income opportunities. Cryptocurrency, however, has its own unique risks, even though it may appear like a bank account or social lending platform.
You can earn passive income using cryptocurrency in many ways if you are willing to take on the risks. Here are some ways to put your crypto holdings to work and grow your earnings.
1. Yield-Farming: Earning Like a Bank in DeFi
Decentralized finance (DeFi) platforms open a banking-like avenue for earning money. By engaging directly in the lending process, users can connect their crypto wallets to a pool, committing coins and tokens. This pool then lends these assets to others for interest and fees.
Participation in this lending process can result in direct payments or interest…