What Is A Passive Income Mechanism?
I do sometimes get asked this question and the best way to describe it is a combination of earning opportunities/platforms that are strategically structured to work with and alongside each other, in order to create a single outlet of new capital. One can also create multiple outlets of new capital as well, there is no real restriction. For this example I will mention certain platforms or projects but there is literally numerous ways one can construct these mechanisms. As long as the desired outcome is achieved, it does not really matter how you managed to attain it. Many may consider a platform or service such as Celsius a passive mechanism, although partly true, when it comes to mechanisms it is merely the head.
Celsius can be utilized as the head of a mechanism, where funds are assembled, multiplied and subsequently new funds are generated.
Utilizing a service such as Celsius to be the head or accumulative release point makes sense. Joining arms to this platform is how you effectively grow your assets and simultaneously create a passive income stream, which you can of course choose to further compound by reinvesting. For example, you could make use of StakeCube as one of the arms. It makes sense to earn interest on coins that are cheap to move, such as Litecoin and Doge. All interest that is earned on StakeCube is a standard 7.57% per annum.
DeFi protocols are also really great to use as "arms"! Biswap currently has some really amazing vaults, with CAKE as high as 247% and BUSD at 167%! All vaults require a lock up of BSW, which can be withdrawn at any time.
One can also create a hybrid system by using a service such as Noise.cash, where users can set a payment threshold. This means that once that amount is reached, it is automatically sent to the default wallet address. This is where you would insert your Celsius address for BCH, or any other "head" you may choose to use. As you then in turn earn BCH, it will be sent straight to your Celsius account.
One can choose to add as many "arms" as is necessary in order to create the level of income required. My thinking is to move earnings to the head every 2 weeks or so. In order to grow the "arms" and see them as small mechanisms as well, I suggest shifting a portion of earnings over, in order to grow the "arms" while they simultaneously earn interest for the "head" to gather and create a more meaningful monthly or weekly income. This then means that say 50% is harvested to the "head", with the remaining left to compound and grow the earning power of the "arm" over time.
I set all earnings to CEL in my Celsius account so that the earnings come in one lump payment every week. I can then withdraw those earnings, or allow them to compound further. Taking into account that the CEL earnings also then begin to earn interest.
Celsius are currently running a promo that enables new users to receive $50 in BTC for an initial deposit of $400 or more. It is important to note that this requires the funds to remain with Celsius for at least a month. Use the following code 188954e8a2 to ensure that you receive the bonus!
This is my approach to creating passive income and not financial advice. Always remember to do your own research, or consult a professional if necessary. Keep enjoying the journey!