Passive income with crypto: 3 ways!(all Publish0x tokens)

By MadMaxx | Psycho Crypto | 17 Jun 2020

We all want to earn something for nothing. The golden rule of becoming rich is to make your money work for you, not the other way around.

Many people work for money, but what the rich guys have been able to figure out is how to make their money work for them.

In this post, I'll explain the 3 ways you can make passive income from your cryptocurrency. I'll make sure to include all the tokens we have on Publish0x, because why not. Let's get started!

This post will be divided into, you guessed it, three parts. In each of these parts, there will be a section for a specific token, as well as ALL the ways to make passive income with that token.(at least all the ways I know).

I'd really appreciate a share and tip on this post. Really.

SECTION 1: BASIC ATTENTION TOKEN

I don't really need to go over what this is, because there are literal blogs devoted to what this token is, right here on Publish0x. However, these are the most fun ways to earn passive income from it.

PS: You can start with any amount with these methods, but I found that starting with 100BAT, and compounding your way up actually works best for gains you can see.

Method 1: Compound

There's a dApp in the dApp browser in the trust wallet called "Compound'. What it does is to collect your BAT and lend it out at a specific interest rate. Then once your lending time expires, you are paid a part of the iqnterest gotten from the lending process. The longer you pledge your money, the more it's lent out and the more interest you make.

Your tokens are safe because the borrower has to put up collateral that is greater than what he borrowed. So if he makes a run for it, you're still safe and have your original investment.

To use this service, just download the trust wallet app from your mobile store, go to the dApp browser section, search for "Compound", choose it and enjoy!

2. Binance savings

BAT was added to the Binance savings collection a few weeks back. Binance savings is basically the same as compound, except that this time it's centralised, and the collateral is, you guessed it, BNB. You can find the section in your wallet section on Binance.com, but you must be using a desktop. Simply scroll down to the token you wish to save, and click on "savings" next to it. You'd then be asked to choose a pledging time, and your tokens earn interest daily.

SECTION 2: LOOPRING

METHOD 1: Convert it to BAT and use the methods above

I searched far and wide for how to earn passively on LRC, but my search proved irrelevant. There's simply no major service supporting it, and I can't recommend to you minor services that I haven't tried out yet just to make my post look exhaustive.

So, I recommend that you:

Use Changelly to convert from LRC to BAT(or DAI as you'd see later in this post)
Use the methods above to earn more interest on your BAT.

SECTION 3: DAI

DAI is a stablecoin, and therefore it's pretty hard to find places to earn interest on it. Thankfully, I have found two ways, so let's get into the them.

METHOD 1: Compound, again.

I don't want to sound like a broken record, so I won't repeat the steps above. To earn passive interest on your DAI, it's the same exact way you did for your BAT, just with DAI in place of BAT. Just follow the steps, but replace BAT with DAI.

METHOD 2: Changelly Conversion

If you want to use Binance savings and have all your savings in one place, then this is the way to go. Binance savings doesn't recognise DAI, so you'd have to convert it to BAT to be able to use it.

Simple steps once again: