Post
Topic
Board Service Discussion (Altcoins)
Merits 1 from 1 user
Re: Crypto Passive Income
by
ultrloa
on 12/07/2023, 12:48:49 UTC
⭐ Merited by TheUltraElite (1)
Sure you can get crazy amounts of interest in some of the decentralized systems but most of them are traps. You better win a few to lose all.
Dont think that is a good option for anybody and the term "passive income" has been hyped a lot along with people who accept it as a good method to make money because of the term being an oxymoron - you cannot earn if you are passive. Consider the fixed deposit schemes of banks, yes that is a safer method than crypto based investments.

Crazy high amounts of income indicate that something fishy is going on, not that the project is super profitable or doing something revolutionary, that is what bitcoin has done.

What I observed from yield farming is that the long term proposition is not good, you carry a large risk than reward and hence I dont recommend it.

They should consider that there's no passive income thing on crypto especially if they are dealing it by investments since any of those can go or turn scam. This word us overused by scammers since they want to deceive their investors and make them believe that they can earn that if they invest on the platform those scammers created.

Yield farming I think this is not for long term and it the same with other that only good while its new but when people are done with this it will slowly collapsed.