Hey guys! I've been in crypto for a while but since it's bear market I'm curious: are there any services where you can earn passive income in crypto, except lending?
The ones that I know is staking, but you have to stake the coins and receive your reward everytime the staking protocol says. There are many altcoins like Polkadot, Solana, Atom that you can stake. You can also stake coins like wBTC but which is not bitcoin but pegged with bitcoin price.
But the best advice I have for you is to just hold your bitcoin and leave it for a long period of time, the price will increase and you will make money from it.
I agree.
Staking is the only way to earn passive income in cryptocurrency, I think. Trading is also a good one but it's so risky for a newbie. Hodling is the most famous one since all you have to do it to wait after you bought when the price dumped. Profits in staking is not that big compare to trading but a profit is still a profit. You could also look for an actual job or be a freelancer while you're holding your cryptocurrency, the more income, the better.
^I think there are more and additional of what you have said BTC mining can be a form of passive income, but it requires a significant upfront investment in mining hardware and energy costs. Miners validate transactions on the BTC network and are rewarded with newly minted BTC and transaction fees. However, mining has become increasingly competitive and requires technical expertise.
Next would be, Lending, yes it is because it's similar to interest-bearing accounts, you can lend out your BTC to individuals or platforms in the crypto space in exchange for interest. Peer-to-peer lending platforms connect lenders with borrowers.
btc mining though is not for all. aside from the expensive equipment you need to buy, should have knowledge on how to do it right. now, investing in lending platforms, this is quite high risk for me because the platforms should be solid, trusted and reliable. even if they guarantee profit, what is the guarantee that you can get back your funds plus profits?
now, if the OP just don't want to do anything, one thing is like put your coin such as BTC to flexible savings or fixed savings like in binance. choose your platform carefully here.