If you aren’t really keen on trading cryptocurrencies, that’s fine. There’s another way for earning some money from cryptocurrencies. You can make some profit only by hodling some cryptocurrencies. Here are a few ways how you can do that.
This process was the ultimate income tool in the early days of crypto. Today, however, it turns out it’s not that profitable. If you want to mine large cryptocurrencies like Bitcoin, for example, the entire process requires massive initial investment and also the amount of electricity spent is enormous. But, small cryptocurrencies can be more profitable than you think. Just keep in mind that the mined coins can drop in value and the mining space will start to shrink.
Making some extra profit while running a masternode is a great idea. Masternodes work similar to a server, and they complete functions that regular nodes can’t. If you want to run a masternode, you should be able to hold a great number of cryptocurrencies on the network you want to run. When putting a huge amount of these cryptocurrencies on the network, you will get a reward and this is how you can make a passive income.
If you are a holder of a cryptocurrency, there are several blockchains that offer dividends. In order to get a dividend, you have to keep your cryptocurrencies in the specific wallet for that currency. Companies give rewards to their shareholders based on the number of shares they hold. It’s exactly like to stock market. Holders are paid dividends for the tokens they own and are encouraged to keep them and not trade them.
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