How to earn passive income with cryptocurrency?

Among other things, you may earn passive income by putting your existing coins and tokens to work in cryptocurrency exchanges or various decentralized protocols to earn rewards. Passive income methods may include crypto native activities such as mining, staking, yield farming, and crypto lending.

What is crypto mining & how does it work?

In short, crypto mining is how new units of cryptocurrency —usually called coins—are created. As you can imagine, this type of mining doesn’t involve callused hands gripping pickaxe handles. Instead, it’s computer processors that do all the hard work, chipping away at complex math problems.

Is cryptocurrency mining worth it?

Cryptocurrency mining is painstaking, costly, and only sporadically rewarding. Nonetheless, mining has a magnetic appeal for many investors who are interested in cryptocurrency because of the fact that miners receive rewards for their work with crypto tokens.

Is mining a viable way to generate passive income?

While mining continues to be a viable method to generate passive income in the crypto space, it involves significant upfront investment and legwork to get started. This has deterred smaller players from entering the space and competing with large-scale mining operations.