Use Your Brain Crypto Opens Massive Possibilities
I've been devoting a lot of time lately into hive and tribes as of late. There's a number of reasons for this...
- Build community and become part of the community
- Support others projects
- Perhaps some time soon launch my own project but one that aims at supporting the entire ecosystem instead of splintering off
- General awareness
- Testing out some new marketing
In any case this post will go over the huge and I mean legit HUGE ways crypto is opening up massive potential at passive income and the possibilities are seriously endless.
While I will touch base on hive a bit I'm going to push off into a few other blockchains and the possibilities for passive income and project creation on those as well. I don't want Hive to be locked which is what I've seen happen as of late. I want it to be a welcoming and rewarding place for other projects to come, promote their chains, businesses and ideas and gain support from community members.
DeFi, DeFi DEFI!!
One area you should be focusing on right now is DeFi. Of course it can come with huge risk due to rug pulls and exit scams or the price of tokens just crashing down. However there are ways to mitigate this which include not shoving all your crypto into what you think is the next best DeFi project and praying they don't pull the rug. Instead only invest the crypto you are willing to lose.
One DeFi platform I trust the most is CubDeFi
Sell Offs
This might sound crazy but honestly massive sell offs like today are potentially the biggest opportunities of them all. While everyone is panic selling this is your time to sweep in and convert that FIAT to crypto at a much better price in whatever project you believe in. *Again only invest what you are willing to lose.
Staking
Back in 2012 the first ever Proof of Stake coin was created. That coin is called Peercoin and still survives to this day with a market cap of 111 Million dollars. In fact it's kind of funny that I write about it right now as it's up 121% while nearly every other crypto is currently in a blood bath.
Well proof of stake to me is the most passive income you can get. Instead of mining the heck out of crypto you can simply buy and stake these coins on your own raspberry pi or a mini computer you build yourself. The power usage is crazy low and when you do get picked to mine a block you earn all of the rewards and the power usage during it is very minimal.
Many of these PoS cryptos have become hard to mine yourself and so just like Proof of work systems pools have been created. Two of the pools I currently use are the following.
BTCPop - Faucet claims will lead you into the PoS site This site has been pooling millions of coins for me for the last 5 years with no issue what so ever. In fact I just recently pulled 5 million Reddcoin to run on my own machine from their service (not your wallet not your crypto type deal so I pool it there till I have enough to stake myself)
and
StakeCub A newer platform but so far so good. You can run your own masternodes from here, Proof of stake, interest and more. It also has a daily faucet so you could simply claim the free credits to start out.
While Proof of stake is a great way to earn there's new variations of this which I guess could be considered DPOS or some other weird name not yet thought of.
For example WAX - You can literally play free crypto games, earn wax, stake that wax and earn more wax. I know freakin mind blowing.
Funding/Investing
There are a number of ways to loan crypto to people and companies that provides you with repayment in crypto. It's an easy but yes can be risky way to help provide funding for the development of many projects. Right here on Hive we have seen a number of these projects come about and start to spring board new developments.
A few that come to mind are Brocoin, DHedge, Utopis, CTPSB, LBI and more! These projects are not only growing but they are starting to spark new growth and new communities to form. They also are providing funding and ownership for these future projects as well.
With Hive Tribe tokens the possibilities are honestly endless. If you have something you want to build and create you could create a Hive token, put out the whitepaper or simply the information about the project and start pooling in funding for it.
While these aren't all the way to make passive income and fuel development with cryptocurrency it covers a few I am currently heavily within.
What projects, cryptos etc do you enjoy?
