What is passive income? It's income you derive from sources other than your own direct efforts.
Some examples of passive income are interest from investments, staking income from crypto assets, royalties and tips from your writing or artwork, mining crypto assets, generating cryptocurrency by using various apps and so on.
In tough times like we are all experiencing right now, if you're like me, passive income is all the income I have. Not having any money at the momemt (I havent worked for over 2 months because of the Corona Virus) I need to earn from multiple sources to survive. It's not much, but every little bit helps.
Staking Crypto Assets:
I currently have a few TRON Cryptocurrency. Every month I receive a few TRON tokens and get WIN and BTT tokens. I keep them on Binance where they automatically stake your TRON. When I receive the BTT and WIN token I convert them to Binance Coin (BNB) and use BNB to lay trade fees. This reduces my fees by 50% for the first year.
Writing & Artwork:
I currently write articles both on here and on cent. Both of these applications allow you to earn crypto through tips and other mechanisms
As I'm sure you're aware, articles on here receive tips which are supplied by the owners of Publish0X. Tips are supplied in the form of Basic Attention Token (BAT), Hydro and Dai. Writing informative articles on popular topics improve your passive income. Both the topper and the content creator receive a portion of the tips with the bulk generally going to the content creator.
You can also generate income by inviting people to join. If you haven't already signed up please use my Invite code: https://www.publish0x.com/?a=ELe3GQQe69
Similar to Publish0X, cent allows you to receive tips. Unlike Publish0X, you need to initially fund your account with Ethereum (ETH). Cent however has a number of earning mechanisms.
- SEEDING: If someone like your post they seed it. The content creator receives 20% of the seed value and the topper gets 80% back. Minimum tip is .001 ETH (Currently around 13c). Every person that tips after that, 20% goes to the content creator and the rest to the people who seeded previously. So if you are the first or second to tip a popular article, you can actually make money by tipping.
- BOUNTY: The content creator can offer a bounty on their post to attract comments. The bounty can be from .001 ETH up. The content creator then decides how many people will receive a share of the bounty (up to 10 people) and for how long the bounty applies, up to 5 days.
- SORTING FOR ETH: You can sort the comments on posts which will then determine the most popular comments. You only get a small amount (less than 1c) but there are many posts every day and it only takes a few seconds to sort
- TIPPING COMMENTS: People can tip your comments if they like what you have to say.
- REFERRALS: There is currently no referral program on cent but you can follkw the link to my blog and follow me there https://beta.cent.co/@Ghengis
Income Generating Apps:
These apps allow you to generate cryptocurrency just by using an app that you would normally use anyway.
Using the brave browser has more benefits than generating Basic Attention Token (BAT) like privacy, security and speed. But this article will focus on the passive income generation. I did a previous article which goes into more detail.
BRAVE affords you 2 ways to generate income. Firstly, every time you visit the home page and see a lovely photograph, you generate a small amount of BAT.
Secondly, Brave allows you to watch ads which are unobtrusive and at your leisure.
There is also a Brave Content Creator program which allows you to generate income from different sources like Twitter, YouTube and your own website.
My referral Code is: https://brave.com/ewe485%20
LBRY is a content sharing platform. Like YouTube, you can share videos, but LBRY allows you to share videos, photographs, ebooks and text. It has a number of ways to earn LBRY tokens as I highlighted in a previous post. If you sign up using my referral link, we both earn 20 LBRY tokens.
Referral link: https://lbry.tv/$/invite/@ghengis:7
Phone Mining Apps:
Mining or generating Crypto using your phone is becoming more common.
XYO / COIN APP:
Coin is a gamified mining app that uses GPS technology. I wrote a recent article here. You can generate COIN and it is also a lot of fun. It uses your GPS location to confirm COIN generation and also binds with others using the App to verify location. It has a number of real world applications in parcel delivery, transport industry and many others.
Referral Code: https://coin.onelink.me/ePJg/fcfe6ea7
Pi is a really interesting social experiment which will in the near future have real world application. Over 3.5 million people world wide are participating and whilst, at the moment, it has no commercial value, it may well have in the near future. My previous article on Pi is here.
Referral Code: https://minepi.com/Pihole101
Electroneum is an App that allows you to mine coins which can be used for amongst other things, topping up phone credit. A comprehensive article on Electroneum can be found here.
Referral Code: 6D4C94 or you can scan the code