Bitcoin officially began its launch mode towards new all-time highs and I couldn't be more excited about it! If you're anything like me, you've been pinching pennies and pouring all your spare cash into bitcoin , ethereum, and a few other cryptocurrencies throughout the past few years. My goal was always the same and very easy as well; to get as much bitcoin as I could possibly get. Yet times are rough right now, and there is a great deal of confusion in the world right now.Covid is taking the world's toll, people are out of work, and maybe he doesn't have a lot of spare money to spend. So how do you increase your profits from your passive crypto?
Ok, let 's talk about my favourite ways of getting the passive income from crypto!
1) Lolli
What could be better for anything you would do anyway than earning bitcoin!?? As I find it much more convenient, I do most of my shopping online and sometimes the prices are also better. You can gain cash back rewards in bitcoin by using the Lolli extension when you shop with a sponsored brand, and some of the rewards are actually quite impressive. I've seen incentives in excess of 30 percent before.The list of supporting brands is always evolving, but they have more than 1,000 top brands available, and many of them are brands that you are likely to purchase on a daily basis. Nike, Expedia, Groupon, Postmates, Sam's Club, Priceline, Hilton, Marriot, Best Buy, Walgreens and so many more are some of these brands! Basically, as a rule of thumb, be sure to first check if Lolli has that brand as a partner before making any transactions online.
Be sure to check Lolli out!
2) BlockFi
Anyone who has been following me for a considerable amount of time will already realise that I am a big BlockFi fan and have been advocating using it for quite a while now. BlockFi started operations last year, but I was just watching and waiting to see how it would work out for most of the year. I wanted to be really cautious with my bitcoin before trusting the service, but I finally decided to start lending to BlockFi in March of this year after waiting a year.And I was also reluctant to loan out a considerable sum of funds back then. "Not your keys, not your coins, after all." So, I very slowly added more funds to BlockFi in March , April, May and June.
The only downside is that the interest payout is only once a month, which is smaller than other competitors, Celsius (weekly), Nexo (daily). My trust has certainly been gained by BlockFi and I will continue to send more BTC, ETH and secure coins to lend out there.
Be sure to have BlockFi checked out!
3) Celsius
I have recently signed up for crypto lending with Celsius as well and have really enjoyed my experience there so far. I've been very reluctant to use the service for quite a while, because I don't like to use lending services that offer their own coin reward. I waited and watched for a while, holding this reality in mind, to see how things would go. But as my BlockFi portfolio size grew, I decided that I needed to diversify my portfolio between different platforms to a my risk a little more!
I know these are fairly common or simple choices, but sometimes some of the best ideas may also be the most basic ones. These are only a couple of the services I like to use to gain some money from passive crypto, but what do you like to use? And how has it been used in your experience?
As always, thank you for reading!