If It’s Passive – It Can’t Be A Waste Of Time!

An Important Element Of Crypto Income

Well, it’s actually an important element of any form of income! Time, it’s the one asset you can never replace or “earn”. You only have so much of it and it’s important to use it as wisely as possible. That is why when earning Crypto, one has to consider the amount of time required in order to earn from a particular opportunity or application. The relativity ratio has to make sense. One cannot spend hours in order to earn a dollar or two. This is very important to consider when utilizing income-generating opportunities. Actually, one should have a preset list of qualifying criteria. This is something unique to each person and will vary from person to person. If an opportunity meets the requirements and makes “financial sense” then it can be incorporated into your income model. Income models should be personally tailored, which is why I have decided to write this article. There is one very important aspect that I think many miss out on.

The Best & Most Important Opportunity

People often isolate the earning capacity of any particular opportunity from the element of time. In other words, the dollar amount, for example, is perhaps considered too low. However, if it is not measured against the required time needed to generate the income it becomes impossible to establish a true, or accurate assessment. An opportunity that pays well and requires a significant amount of time is actually inferior to a low-paying opportunity that is completely passive. I personally look to find as many different passive opportunities as possible. The reason is, that a few of these will compete with one high-earning opportunity that requires time. The more income I am able to generate without sacrificing time is at the top of my list. This dynamic either “grabs you” or it’s lost on you. This is how some go on to earn thousands every month with zero time allocation and effort.

Complimentary To Alternative Approaches

This is obviously not the only way to go about earning Crypto but it is the most superior in my opinion. In my own strategic approach, I utilize every other method to serve this “main agenda”. If income is not being spent then it is being assigned to serve the strategy of generating as much passive Crypto income as possible. As long as my passive Crypto Income is growing month by month, I know I am on the right track. Sure, dollar valuations can fluctuate, provided coin holdings and coins earned are on the rise. In many ways, this can be extremely helpful in getting ahead and taking ground a lot faster. For example, I have a passive system that enables me to buy small amounts of Solana every three days or so. This has enabled me to accumulate SOL over the last couple of months and ultimately benefit from the recent price surge.

A Perfect Example

I began a fresh accumulation of Solana at the $80 mark a few months ago. There was just too much value on offer that I couldn’t resist. There were a few buys just below $80, which have helped to bring my average down nicely. I have since decided to leave this mechanism as a dedicated “Solana machine”. What this means is that I will just continue buying SOL every three days indefinitely. My recent post, “Solana – About To Breakout?”, called a breakout from the $85 zone. I highlighted my first target at $120 and went on further to raise doubts about how much it could push higher in the immediate short-term. My second target of $150 was outlined as the possible top of this particular impulse. We have seen a local top of approximately $143, which could be the end, for now, or we could see one last push for $150.

It is unlikely that Solana will go on to push past the $150 mark at this stage but you never know. Either way, I am buying and would welcome some more discounted coins for my long-term holdings. Once again, this Solana holding will be dedicated to a new passive income mechanism in the form of staking, subsequently creating more free SOL.

The Snowball

This will now create a second Solana machine, which will create another mechanism somewhere else. An allocation will be given to disposable income, while a percentage will go on to produce another mechanism, which I am still to identify. I have been pushing this type of thinking and approach to my readers for years. It is so powerful due to one very important aspect and that is compounding! If your strategy is void of this dynamic, I would consider reevaluating it. Not investment advice but definitely food for thought. Risk also increases along with increased earning capacity. This obviously also has to be taken into account, according to each investor’s own personal risk profile.

Final Thoughts

Don’t despise lower earning opportunities that are passive, especially if you are able to incorporate many of them. There are just so many new opportunities that become accessible when one has passive income at hand. Remember, something cannot be a waste of time if it doesn’t require your time!

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

This article was first published on Sapphire Crypto.

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