Work Smarter, not Harder: How to Earn Passive Income with Cryptocurrency – Yahoo Finance

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
Photo by Executium on Unsplash
When you take your money and invest it in the market, your primary goal is to grow your bottom line. One way to do that is to consider diversifying your portfolio to include various investment niches and types. Ultimately, you want to reach a point where you can rely on your investment choices to bring in new income even while you’re sound asleep. To do that and have your money work for you, design your portfolio in a way that generates passive income.
But setting up a passive income source can be a challenge in an unstable market. With the wide swings that can happen in any investment type, you need to set up an income-generating source you can rely on. To know how to create a passive system that works, you have to be clear on the definition of passive income itself.
What is Passive Income?
Passive income is money that your investments earn without your involvement. That could include proceeds from a rental property you own, evergreen automatic sales for a business you have, dividends from stock investments, or any other income-producing activity.
Another passive income source comes from earning interest on the money you have in a bank and, most recently, from your cryptocurrency holdings. Basically, any investment you hold that generates income on its own is passive.
HODLers Earning Interest
Historically, the only way to make money from digital assets was to buy low and sell high, but that’s not the case anymore. Companies like Hodlnaut now offer interest on your cryptocurrency holdings, and the best part is that you don’t have to sell what you own to grow your assets.
Hodlnaut provides stable and high-interest rates so you can earn while you HODL. The current rates start at 6.2% and climb to 12.7%, depending on which currency you hold. Of course, these percentages are subject to change based on market rates, but the company also offers one special feature you won’t see in many other places.
Making Choices
Typically, if you own Bitcoin (BTC) and the company that holds your Bitcoin offers interest, you earn the interest in Bitcoin. But Hodlnaut gives you the opportunity to choose which currency you want as payment. You get to pick from six different cryptocurrencies, so you can build your digital wealth while you automatically diversify your crypto portfolio. These currencies include Bitcoin (BTC), Wrapped Bitcoin (WBTC), Dai (DAI), Ethereum (ETH), Tether (USDT) and USD Coin (USDC).
Make Your Money Work
There is only so much new money a person can make in a day, as a general truth. That’s why it’s important to put your money to work for you. You want to work smarter, not harder, to build a sustainable and growing wealth that can build on itself even while you sleep. And earning interest from your portfolio holdings is one reliable way to accomplish that goal.
So, no matter if you have investments in the traditional market, the digital market or both, now you have more ways to earn passive income so you can grow your wealth day and night.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
© 2021 Benzinga does not provide investment advice. All rights reserved.
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