Are Read and Noise Passive Income Sources?

Talk to any "money guy" and he will always point out the importance of creating multiple streams of passive income as a means of advancing one's wealth. When it comes to making money, these kinds of income are as important as any other money you might make.

But what is passive income?

In a sense the term "passive" is a bit of a misnomer because in most cases the act of creating it does require something "active" first. In other words, before you can passively earn you need to actively do something to create the thing that passively earns after it is created.

There are many examples of "passive" devices. Certainly the stock market is one since you can invest money and if the stock pays a dividend, so long as you own the stock you can earn an income from it.

YouTube is another source since you can create an "evergreen" video and get views for as long as the video holds some sort of interest for people to watch it. Again, you do have to make the video of course.

Publishing music can be another source of passive income. Once you have written the song and put it out there for people to listen to, it can earn for as long as the song remains interesting enough for people to want to listen to.

But what about Read.cash and Noise.cash. Are these passive sources of income? I say they are not.

The thing is that articles and posts tend to have a lifespan, and once that lifespan has ended, most of what you do on either of these platforms will essentially no longer earn.

An article for example that I wrote four months ago is likely to no longer receive tips. Sure, someone may still find my article one way or another and read it, and thus decide it is worthy of a tip. But it is less likely than earnings I will receive from something that is more fresh.

Likewise when it comes to posts I write on Noise.cash. It is not as likely that someone will find a post I wrote four months ago and decide to tip it and comment on it.

To put it another way, the things that we do on both Read and Noise simply require more "action," and it is something we must constantly be active in if we want to continue to earn from either of these things.

Is there still a "passive" nature at least to the things we do on these two platforms? Sure there is. But that does also depend on what you do with what you earn here and there.

If you hold onto the crypto you earn it is likely that it can earn more at some point as the underlying coins you earn gain more value—and certainly if you are staking some of the coins you earn, this in turn also creates a source of passive income.

The point here is that in and of itself these are not passive sources of income anymore than going to a job and earning a paycheck is. But what comes after and what you do with what you have earned can make it passive.

Lead image courtesy of Unsplash, user Sharon McCutcheon. focus photography of person counting dollar banknotes photo – Free Money Image on Unsplash