To Benefit From Crypto You Have To Build
In Part 1 and Part 2 we gravitated around an opportunity that exists within the TRX ecosystem, namely the Bankroll Network. Unlike many smart contracts, the creator of Bankroll is very well known and public about his creation. This should be interpreted as a very positive sign, as transparency is the one thing all scammers seek to avoid.
The reality is that without any level of risk you are not going to be able to create passive income in the Crypto space. If you are completely closed to the idea of risk then you should not even be in the Crypto space at all. If you want passive income you are going to have to build and build in a risky environment but as I have said before, that is where diversification comes into play.
To spread your capital and network of operations across a very broad spectrum of opportunities and platforms. In this series of exploring passive income we will be taking a look at a number ideas and opportunities that are currently available in the Crypto space.
This Exchange Token Is Up 100% In A Matter Of Weeks
Exchange tokens can be very rewarding to hold as many pay dividends to hodlers, this compounded with token price appreciation can be a very strong multiplier of wealth. BitMax is one such token that pays out dividends daily in USDT, BTC, ETH, USDC and PAX.
The majority is paid in USDT and credited to your wallet balance every 24 hours. When I purchased BTMX tokens they were a little over 3c and as I write this article BTMX is trading at 6c! Prior to the recent BTC drop BTMX was trading between 7c and 8c, which is very bullish.
Other exchange tokens seem to drop often and are relatively very unstable as far as price goes. BTMX is pretty stable in price and has a bias towards the bullish side as apposed to the downside, which you will find is quite a common theme with many other exchange tokens. Even with the recent rise in token price the annual rewards for staking BTMX on BitMax is currently over 19% and depending on the token price can fluctuate.
This is a nice stable earner and unlike other passive income streams I prefer to compound profits here and don't use any income to diversify into other projects. Similar to Binance, BitMax enables users to convert dust to BTMX, so no matter how much you earn in dividends you can convert them into BTMX tokens and increase your daily eranings.
In general, a great addition to any passive income portfolio. Another strong point is that BitMax seem to have good relations with FTX, an exchange I hold in very high regard. BTMX tokens can also be bought on FTX, as FTX BULL and BEAR tokens can be purchased on BitMax.
As always, this is not investment advice, do your own research and see you along the road to creating great passive income for tomorrow!
I'm checking bitmax out right now. Ooh and I've bought into tron