3 Ways To Earn Passive Income With Bitcoin
Hey guys, you’ve probably been blogging a lot more lately! For the Newbies I’m Dave I’m into all things passive income. You’ve probably heard me talking a lot about bitcoin lately. That’s because there is A LOT of pretty exciting things going on with cryptocurrency lately. Aside from new highs with bitcoin almost monthly, I have managed to scour the web for the three best ways to earn passive income with bitcoin on the web. I put hours upon research and went out on the line with my own money to test out various ways to make money in the age of digital money. I have narrowed it down to the 3 best bitcoin investments to share with you. Before we get into this post, I want to make sure everyone knows investing can be risky, never invest more than you can afford to lose, that being said I have not lost any money and have seen significant gains so without further ado here is my much-anticipated list.
BitConnect is a lending platform that deploys a trading bot to trade price of bitcoin taking advantage of its price volatility. BitConnect lets user lend money to the bot to leverage buying power. How it generally works is you make an investment, let’ss say $100 for example. That $100 is locked into a set term for 299 days. BitConnect rewards users with daily interest payments that start 24 hours after the loan is made. These daily interest rates can fluctuate between 0.04% to 2% however from my experience I find that it averages around 1% per day. This means that at the end of the month you are making between 24-30% ROI on your investment monthly. This means that you generally can recoupe your original investment back within around 3 months. You then get to enjoy daily interest payments for the remainder of your term. Once your term is complete, your original $100 is released to you. So let’s do the math, you originally invested $100, then you began receiving interest payments of around $25 per month for the following 10 months. That’s a total of $250, you are then given your original investment back turning your $100 investment into $350ish. Now obviously $100 isn’t going to make you they next Mark Zuckerberg, however, with a larger loan of $1000 I’m sure you can begin to see the potential. I am currently investing into bitconnect you can read about my bit connect experiment here and part 2 here. The goal here or at least the strategy I am using is to compound the interest payments into more loans to raise my monthly income to where I want it to be. You can literally decide your own income. BitConnect gives you instant access to your payments as soon as they arrive so if you don’t want to reinvest you can simply withdraw the funds and cash out.
You can sign up for BitConnect here.
If your on this page you probably know that bitcoins and many other altcoins are mined. For those of you that are unfamiliar bitcoins are generated by specialized super computers known as mining rigs. These computers solve millions of complex solutions per second and are rewarded by receiving cryptocurrency. These mining rigs can be complex and expensive to build, and one of the main cost associated with mining is electricity cost. This is where cloud mining comes in. Cloud mining is when companies with many of these mining rigs sell you there computing power aka hash power to generate cryptocurrency on your behalf.
Is this profitable? Well, the answer is complicated, you see the difficulty of mining goes up over time so the amount of hash power you are mining with versus the cost of the coin you are mining is something you need to be aware of. A quick google search like “bitcoin mining calculator” should bring you to a site that can calculate the cost of electricity and relation to the price of the coin you wish to mine and let you know how much you would make at the coins current price.
I have found success mining with Genesis-Mining.com. They sell different contracts but I find that their bitcoin mining contracts are the best in the world in my opinion. This is because they are open-ended contracts. While some mining contracts may have a term of 2 or 3 years, the bitcoin mining contracts here, will mine FOREVER until it is no longer profitable. That means you have a dedicated machine mining bitcoins for your until the difficulty has gotten too high. You can hedge against this by adding hash power as time goes on. Once you break even on the investment the rest is sweet sweet passive income. The only thing bad about genesis mining is that their bitcoin contracts are no secret so they sell out for the year relatively fast. At the time of writing this, they have just opened a presale for February 2018 which is 3 months away.
If you want to check out how profitable cloud mining you can sign up here an recieve 3% off your contract price if you use this link.
USI Tech is similar to Bitconnect and Genesis. It’s a lending platform that allows you to invest in cloud mining packages. A little background on USI-Tech they have been leaders in the forex market, and at one point created a successful forex trading bot that was exclusive to wealthy clients. Fast forward to present day, they are now getting a foot in the cryptocurrency markets. They have been making investors money for years so I’m hopeful that they will be trying to uphold their prestigious name.
How do USI-Tech Investments work?
You buy whats called BTC cloud mining packages or bitcoin packages. USI-Techs prices is in euros but these packages rougly translate into around $59 usd. Once purchased, your investment begins to pay you 1% daily for a term of 140 days. These packages are active only between Mon-Fri and are not active on the weekend. USI tech says that they will earn you 140% ROI for the package you purchase.
The Tech Coin
At the time of this post, USI Tech is also in the pre ICO stages of token sale. I know people hate ICO’s but I think if you do your research and diligenceence you can decide for yourself. For me, just seeing how this site was already making people money, then seeing them get a coin and a blockchain was enough to sell me. The tokens are approximately $60 for 100 or 60 cents each. My logic is if this company is already making people money, and Bitconnect’s coin is $250 as of today…if tech coin even reaches half of that I stand to make a small fortune. I will be getting some more of these tokens before the pre ICO is over as well.
If you are interested in tech coin you must be a member, its free to create an account just click here.
I am so glad that I found cryptocurrency. I have always been fascinated with generating passive income, and with the crypto revolution, I am so happy to see new ways to generate it. There are other ways to earn passive income from bitcoin as well but there is also a lot of scams. The same beauty that attracts millennials to cryptocurrency also, unfortunately does attract a few scammers. I have taken the guess work out of these sites and have been paid from each of them. The best part is that with these methods you dont have to wait to see the result. Once you invest money starts trickling back to your account right away.