What are some of the best ways to earn passive income right now? I was thinking about staking $CAKE, just staking it and not using liquidity farms. But not sure how profitable that would be, compared to some other methods. I have a 5000$ capital.
There are many ways to get passive income in crypto, staking on Pancakeswap is only one of them, now it is more developed, such as farming using NFT, this type of farming is usually in blockchain games, the item you get is NFT, and when a player has many items in the game , players can do farming there using the items they have,
quite profitable because you can also sell your items in the marketplace, usually NFT games have their own marketplace.
But still when you lock up your coins for staking on Pancakeswap isn't there immense risk that the volatility of the coins you are staking will eventually undermine or even destroy any gains you make if you are unlucky? It is not 100% safe to stake, is it?