How to Built Passive Income From Cryptocurrencies and NFT

I think the best passive income source is from investment, you can try investing in the stock market, real estate market, mutual funds, or even cryptocurrencies. If you do not have a lot of money for investing in the stock market or real estate, you can try crypto, even a $1000 investment in crypto can make a huge difference if you invest in the right currency.

Earning Passive Income From Binance Earn Program

Binance is the world’s largest crypto exchange platform. If you are using Cryptocurrencies, chances are there that you are also using Binance.

Binance is not just an exchange and trading platform, it also offers various ways to earn cryptocurrencies. The earning program on Binance is called Binance Earn.

Binance Earn has two options:

Guaranteed

High Yield

Guaranteed Earning program includes various earning methods like Auto Invest, Savings. Locked Staking, BNB Vault, Launchpool, ETH 2.0 Staking, and PolkaDot Auction.

High Yield Earning program includes Dual Investment, Liquidity Farming, and DeFi Staking.

How to use Binance Earn Program?

In order to use Binance Earn Program, you need to first verify your Binance account. Verifying your Binance account is not difficult. All you need is a government ID such as Passport, Driving Licence, National ID, etc. You also need to verify your selfie, which I think should not be a problem as long as you have no plans to do illegal transactions.

The second requirement for using Binance Earn is you need to fund your Binance account with some cryptocurrencies.

Apart from the Binance Earn program, there is also another way to earn from Binance. You can use the Binance referral program and earn up to 40 percent commission from trading on Binance Spot, Futures, and Pool.

Binance also offers a learning program called Binance Academy where you can learn everything about cryptocurrencies.

Staking Crypto on Exodus

 In general terms, Staking Crypto means earning rewards on your cryptocurrencies. In a technical term, Staking Crypto means putting your cryptos to work through a consensus mechanism called Proof of Stake.

Not all cryptocurrencies are available for staking. You can stake only those cryptocurrencies that allow staking. For instance, you cannot stake Bitcoin, but you can stake ETH 2.0.

Exodus is one of the most secured wallets available in the market. It is available as a Desktop Wallet as well as Smartphone Wallet.  Exodus is considered secured because the wallet does not store your asset information of keys, they are stored in the blockchain and are accessible only to you.

Exodus offers staking option on various cryptos such as

Algorand: ALGO staking has been phased out but you can use Governance Rewards

Cardano: You don’t have to lock your ADA during the staking period

Cosmos: You will have to lock your ATOM, but you can unlock it anytime you want and use your asset

Ontology: Just like ATOM, you will have to lock your ONT while staking, but you can unlock it any time.

Solana: You can stake SOL and earn passive income on your assets. You can use your SOL even during the staking program

Tezos: You have two options, either to lock your XTZ or unlock during the staking period.

VeChain: VET does not require you to lock your assets.

Making MOney on OpenSea and Solsea by Selling NFT

OpenSea and SolSea, both are NFT marketplaces. If you want to buy and sell NFT, if you want to mint your own NFT and put it into the sale and make money, if you want to collect NFT, you should be checking out these platforms. While OpenSea is more popular and has been around for a longer time compared to SolSea, you should also be using SolSea if you want to try multiple platforms to bank on NFT.

In order to use OpenSea, you need to connect with MetaMask or Coinbase. You can start creating an NFT just by uploading your photograph, illustration, or digital art, and then paying some ETH for minting your NFT. OpenSea also offers a gas-free marketplace for NFT on Polygon. OpenSea was founded in 2017 and the company is based in the United States. According to a BBC report, OpenSea's worth is over 13 billion USD.

Solsea is an Open NFT marketplace on the Solana blockchain. What makes Solsea more interesting than other NFT marketplace is its unique feature that allows creators to embed copyright licenses on their NFTs. Creating NFT on SolSea is as easy as uploading an image, photograph, or digital art and then minting.  The minting cost on SolSea is three transaction fees on the network, which is around 0.00135 SOL.

First published on Trendri, in author's name