Passive: Difference between revisions

Revision as of 01:41, 16 October 2021

Earn Passive income with Crypto

This is a bit more advanced and requires you to setup an account on Binance and install the Metamask browser plugin.

Staking

You can stake your crypto in a pool and let it earn interest. Often this has weekly payouts so you could take money out frequently. If you compound it and let it stay for a while it will build up even more.

Jump in the Pool

A pool is filled by it's participants and the interest paid is evenly divided based on your share of the pool. When the number of participants grows, the interest get's lower. However at the high rates being paid it is still a good way to earn some passive income. When pools start out they can be very lucrative. But high yields, high risks..

I use Pancakeswap for this, it requires you to have a Metamask wallet which can be installed as a browser plugin to Brave or your favorite Chrome browser.

Stake Cake

Cake is the native token for Pancakeswap, it can be bought or swapped on Binance. You use Binance to send BNB to your Metamask wallet and then use this on Pancakeswap to swap this to Cake. The Cake is then staked in a auto compound pool and pays an interest of 70% at the time of writing.

If the Cake coin go's up or down then this is also reflected to your staked coins in the Pool so it can be very interesting in a bull market.

Sign up for Binance here: https://accounts.binance.com/en/register?ref=190299904

Install MetaMask from here: https://metamask.io/

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 <h3>Jump in the Pool</h3>
-A pool is filled by it's participants and the interest paid is evenly divided. When the number of participants grows, the interest get's lower. However at the high rates being paid it is still a good way to earn some passive income.
+A pool is filled by it's participants and the interest paid is evenly divided based on your share of the pool. When the number of participants grows, the interest get's lower. However at the high rates being paid it is still a good way to earn some passive income. When pools start out they can be very lucrative. But high yields, high risks..
 I use [[Pancakeswap]] for this, it requires you to have a Metamask wallet which can be installed as a browser plugin to [[Brave]] or your favorite Chrome browser.