Can you live like a baller with just 1000 dollars?
Here are some of my favorite ways to make passive income with Cryptocurrency.
Divi
Divi is dedicated to making cryptocurrency so easy grandma can do it. Right now they are working on making a user friendly cryptocurrency wallet that has Venmo features that will also allow you to send USD, Euros and Costa Rican Colones.
So how can you make residual income with Divi? You purchase some Divi tokens (at about .04 USD each) and stake them on the Divi Wallet. By staking the tokens you make the Divi network more reliable and secure (I will not get into the technicalities) and in return you are rewarded with more Divi tokens. If you spent all 1,000 USD on Divi tokens today you would receive about 24,000 Divi. You would most likely average 547 Divi a month or 6,658 Divi a year. This would be about 21.88 dollars a month or 266 dollars a year. Please keep in mind there is a randomness to the reward system and it is also based on your wallet being connected to the internet. The price of Divi also regularly changes like all other cryptocurrencies. I have seen it as high as .08 USD and as low as .003 USD (but it has not been that low since it first launched). Regardless, if Divi remains at about .04 USD you will receive about 26% ROI which is really good.
The downside to consider is that Divi is still a relatively new cryptocurrency (2 years old) and is therefore considered more high risk. If you find Divi interesting check it out at: Divi Masternodes: Deployed in one click.
Blockfi
Blockfi allows you to earn interest on your cryptocurrency and take low interest loans using cryptocurrency. For instance, you can borrow 25,000 USD if you put 4.4 Bitcoin on their platform at a very reasonable interest rate. Rather than selling your crypto you can use it as collateral and borrow against it.
For the purposes of passive income you can also put different cryptos on their platform (that they will loan out) and in return they will reward you once a month with interest. For instance, if you put Bitcoin on their platform they will reward you with a yearly 5.5% ROI. For instance, if you put 0.1 BTC (roughly 1000 USD) on their platform you will make about 63 dollars a year in interest provided the price of Bitcoin does not change. The best thing about this platform is that they reward you in the crypto you are earning interest on. So, if you believe Bitcoin or some other popular cryptocurrency will “moon” this is a great way to accumulate more without taking on too much risk. To check out Blockfi go to: Do More with Your Crypto
Pi
The beauty of Pi is that you don't have to spend any money to earn this token. All you have to do is download the app and hit the mine button. It's being developed by some programmers who graduated from Stanford and already has millions of people who have signed up on it. With this many people signed up Pi has a good chance to success because of the network effect. Go ahead and earn some free crypto Pi.
If you like my writing I also have a Quora Space called The Crypto Cave check it!
