How to Earn Passive Income in Crypto – Step by Step to +$100K

How to Earn Passive Income in Crypto – Step by Step to +$100K

by | Feb 1, 2023 | Investment

How to Earn Passive Income in Crypto – Step by Step to +$100K

Many people dream of the day when they can comfortably live off their investments and not rely on their job.

Do you know what it takes?

$100,000 a year seems like it will take care of all the necessities. Here’s how Decentralized Finance within crypto and compound interest can get you there. I thought it was going to be hard until I read about DRIP. I kept wondering if it could be done and with a small investment.

What is DRIP?

Drip Network is a decentralized platform on the Binance Smart Chain that gives you 1% rewards in Drip tokens each day. You can either sell your Drip tokens to get cash, or invest them back into your initial deposit to receive more Drip rewards. Follow this:

  1. You have 100 Drip in you deposit account
  2. Every day, you earn 1 Drip (1%)
  3. You can choose to claim that 1 Drip and sell it into something else (BNB, USD, EUR, …)
  4. Or you can compound – reinvest – it into your deposit, which will now hold 101 Drip. You will now be earning 1% of 101 drip every day, or 1.01 Drip.

So how is this sustainable you might be thinking?

Well, every buy, sell, transfer, deposit and so on is taxed 10%. It is these taxes that pay for the 1% rewards that are pushed out to all of us with Drip in our deposit accounts. Only exception to this is buying Drip on the Drip platform (0% tax) or reinvesting your deposit (5%).

Alright, ready to start on the journey toward $100K per year?

image showing graphs and candlesticks
1) Buy Drip on the Drip Platform

So, for this you need $2112 to spend. You can of course start with less or more, results will just come later/earlier.

Now you are ready to get started on the path to building a stream of passive income. The first thing you’ll need to do is convert your USD or other currency to BNB on the Binance Smart Chain and buy Drip within the ‘Fountain’ on the Drip platform (https://drip.community/fountain). Because we’re buying it on the platform, we do not have to pay a tax. At the current price ($0.39), you now have 5 415 Drip.

2) Deposit Drip into the Faucet

The Faucet? undecided

You will probably get the water theme terms by now, so the faucet is the staking rewards deposit account on the platform. 1% a day is what you will receive once your Drip is in the faucet. As a result of the 10% tax, your balance will now show 4 873 drip. I will share my address if you need a buddy address – which you do: drip.community/faucet?buddy=0x41F7edc6ACe7652EA0E5Aee518556286c392D498

3) Receive your first Drip and Hydrate

Once your Drip is in the Faucet, it will immediately start to generate the 1% daily rewards. About 24 hours later, it is time to make your first reinvestment into the Faucet, or ‘hydrate’ — which is what it is called on this platform ( 1% of 4 873 is 48.73 drip, but we also pay a 5% tax for compounding or ‘hydrating’, which puts our new balance in the faucet at 4 919.29 Drip. (4 873 + (48.73*0.95)).

4) Hydrate Daily for a Half Year

You’ll continue to hydrate every day for 173 days. On the 174th day, we will have 27 397 Drip in our ‘Faucet’ account ($10 685 at the current price of $0.39), which means that we are earning roughly 273 Drip per day ($106.47 at the current price of $0.39). A substantial contribution to retire on a +100k a year income!

5) Claim Every Day Until Max. Payout

So now you just claim your 1% every day and reap what you have sown!

But why not just keep hydrating and hydrating? For obvious reasons this cannot continue forever. In order to keep the system sustainable there is maximum payout of 100 000 Drip. So when we have now reached a deposit of 27397.26 is makes no sense to hydrate anymore, as max. payout (3.65 x deposit) is now 100 000.

We need to keep in mind that the Faucet has a Max Payout of 3.65 times the deposit amount!

This Max Payout is the maximum amount that can be claimed (taken out of the Faucet) based on the current deposit amount. So our Max Payout at a deposit amount of  27 397.26 Drip is  100 000 Drip. This means we can now claim every day until ‘Claimed’ = ‘Max Payout’

6) Retire or work less or ...

So here’s the math towards this substantial contribution to a +100k income? Let’s look at it:

  1. 27 397 Drip in the Faucet rewards 1% a day or let’s round to 274 drip per day
  2. 274 Drip per day works out to $106.84 per day at the current price of $0.39
  3. There’s a 10% tax to claim Drip out of the Faucet, so $106.84 * 0.9 = $96.16 per day
  4. There’s another 10% tax to sell Drip, so 96.16 * 0.9 = $86.54 per day
  5. We’re claiming every day (as explained above), which works out to $86.54 * 7 = $605.83 per week
  6. And with 52 weeks in a year, 52 * $605.83= $31 503.45 a year → almost a third of your future income.
  7. Wait – that’s not 100K per year? Correct, but what if you started with 3 wallets? money-mouth

Once you hit max payout and start claiming every day, you will be able to claim for 283 days before hitting max. payout. You would then have received almost $24 500 from this investment. And remember, the restrictions only apply per wallet, you can easily repeat this for multiple wallets to extend the lifetime of your investment.

Note: To perform this exercise, we had to assume that the current price of $0.39 would stay the same over the course of the investment. There has been a low of $0.30 and a high of $186 since the launch, so the price could or rather will fluctuate. I mentioned that there is a maximum-Max Payout of Drip at 100k. If we add more to our deposit, the Max Payout in our Deposit will no longer grow, even if we add more. We will want to claim every day and transfer our money to another wallet in order to continue getting the 1% rewards.

Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits, or losses you may incur as a result of this information. The article may contain affiliate links.

Set To Go?

I hope you’re now about as excited as I was when I discovered Drip. It’s a revolutionary platform that provides a sustainable source of passive income. With a little patience and a little persistence (connect each day to click the hydrate button!) you can also realize your financial goal utilizing crypto compounding.

How to get started with DRIP

1. Go to https://drip.community/fountain and exchange BNB for DRIP using your Meta Mask wallet or Binance Smart Chain wallet. You’ll need at least 1.2 DRIP if you want to deposit it later to earn the rewards.

2. Go to https://drip.community/faucet to deposit the DRIP that you purchased. You’ll need to enter a buddy address in the Referral section in order to make a deposit (clicking the ‘Buddy Detected’ button will automatically populate my buddy address in the field).

Consider joining using my buddy address: 0x41F7edc6ACe7652EA0E5Aee518556286c392D498

3. Deposit at least 1.12 DRIP to receive 1 DRIP in your faucet (Note: Make sure you have enough BNB to pay for the gas fees which are typically ~0.01 or less per transaction. I suggest you leave 0.1 BNB)

4. Once deposited you’ll start to receive 1% daily. Every 24 hours compound by clicking the HYDRATE (re-compound) button.

Futures and Options

Futures and Options

by | Jan 29, 2023 | Investment

What are futures?

Futures are financial contracts that obligate the buyer to purchase an asset or the seller to sell an asset at a predetermined price and date in the future. They are used to hedge against price fluctuations or to speculate on the future price of an asset. Commodities, currencies, and financial instruments such as stocks and bonds can all be traded using futures contracts. They are traded on organized exchanges, and are settled either in cash or with physical delivery of the underlying asset.

What are Options?

Options are financial contracts that give the holder the right, but not the obligation, to buy or sell an underlying asset at a predetermined price and date in the future. They are similar to futures in that they are used to hedge against price fluctuations or to speculate on the future price of an asset. However, unlike futures, the holder of an options contract is not obligated to exercise the option and can choose to let it expire if it is not profitable.

Options contracts come in two types: call options and put options. A call option gives the holder the right to buy an asset at a certain price, while a put option gives the holder the right to sell an asset at a certain price. The price at which the option can be exercised is known as the strike price.

Options are also traded on organized exchanges and are settled either in cash or with physical delivery of the underlying asset

An example of an options trade

A trader believes that the price of XYZ stock will increase in the next month. He buys a call option on XYZ stock with a strike price of $50 and an expiration date one month from today. The option costs $2 per share.

If the price of XYZ stock increases to $60 by the expiration date, the trader can exercise the option and buy the stock at $50, and then sell it at the current market price of $60, making a profit of $8 per share. If the price of XYZ stock does not increase to $60, the trader can let the option expire worthless and lose only the $2 per share that he paid for the option.

An example of a future trade

A farmer grows corn and wants to protect the price of his harvest, which is due in three months. He sells a futures contract on corn with a delivery date in three months. The contract is for 5,000 bushels of corn and the current price is $4 per bushel.

If the price of corn falls to $3 per bushel by the time the contract expires, the farmer is still obligated to sell his 5,000 bushels at $4 per bushel. So, he has protected his profit by locking in a price that is higher than the current market price. If the price of corn increases to $5 per bushel, the farmer will have missed out on the higher price, but still locked in a profit.

Learning About Web3, Decentralized Finance, and Staking Cryptotokens

Learning About Web3, Decentralized Finance, and Staking Cryptotokens

by | Jan 12, 2023 | Investment, Income, Inspiration

Learning About Web3, Decentralized Finance, and Staking Cryptotokens

In recent years, the world of decentralized finance (DeFi) has exploded in popularity, and with it, the concept of staking cryptotokens. If you’re new to the world of DeFi and staking, it can be overwhelming to try to understand all of the different concepts and technologies involved. In this blog post, we’ll take a closer look at what staking is, how it compares to traditional investments like certificates of deposit (CDs), and what you need to know to get started.

First, let’s talk about what staking is and how it works. Essentially, staking is the process of holding a certain amount of a specific cryptocurrency (known as a “stake”) in order to earn interest on that stake. This is similar to how you might earn interest on a CD by depositing money into a bank account. However, unlike a CD, which is backed by a central authority like a bank, staking is done on a decentralized network, typically on a blockchain.

When you stake a cryptocurrency, you are essentially providing your stake as collateral to validate transactions on the network. In return, you earn a return in the form of additional tokens. This return can be substantial, with some staking pools offering returns of up to 20% or more.

However, it’s important to remember that staking is still a relatively new and highly speculative form of investment. The value of cryptocurrencies can be highly volatile and there is always the risk of losing your investment entirely. Additionally, staking does expose you to the risk of hacking, which is a constant threat to digital currencies.

To start staking, you will need a few things. First, you will need a digital wallet to store your cryptocurrency. There are many different options available, including hardware wallets and software wallets. Next, you will need to find a staking pool, which is a group of people who pool their resources together to validate transactions on the network.

You will also need to have a basic understanding of blockchain technology, which is the underlying technology that powers most cryptocurrencies. A blockchain is a decentralized digital ledger that records transactions across a network of computers. It allows multiple parties to have access to the same information, without the need for a central authority.

In conclusion, staking is a new and exciting way to earn interest on your digital assets. It allows you to be an active participant in the decentralized finance ecosystem and earn a return on your investment. However, it is important to understand the risks and volatility of the digital currencies, and to take the necessary precautions to protect your assets. With the right tools and knowledge, anyone can start staking and participating in the world of DeFi.

What is DeFi?

by | Jan 2, 2023 | Investment

Decentralized finance, or DeFi, is a broad term that refers to financial applications and services that are built on blockchain technology and operate in a decentralized manner, without the need for intermediaries such as banks. DeFi platforms can offer a variety of services such as lending, borrowing, trading, and payments, and they often use smart contracts to automate these processes.

One of the main goals of DeFi is to provide financial services that are more accessible, transparent, and secure than traditional financial systems. Because DeFi platforms are built on blockchain technology, they can offer greater security and immutability, as well as the ability to operate in a trustless manner, without the need to rely on a central authority.

DeFi has gained popularity in recent years due to the potential for high returns on investment, as well as the ability to participate in the financial system without the need for traditional financial institutions. However, it’s important to note that DeFi carries its own risks and uncertainties, and it’s important to do your own research and due diligence before investing in any DeFi platform

3 Pct Weekly Interest? Yes, please.

3 Pct Weekly Interest? Yes, please.

by | Sep 24, 2022 | Income, Investment

Is it possible to find an investment, that will give back a 3 pct weekly interest?
You have probably noticed that not only inflation is on the rise, but also the interest rates. So, the question is – is now the time to go back to the bank and receive interest on your deposits?

Well, it depends on your risk profile – if you do not want to take any risk, you might find it attractive to earn maybe 1% interest on your deposit annually – but as you know inflation is also up, your money will be worth less in one year.

You need to be more risky, however, stocks are currently only taking one direction – down – so then what do you do? How can you achieve approximately 3 pct weekly interest – return on your investment, ROI.

Forex Trading

The international money market, foreign exchange or forex, is a market, where currency pairs are rated against each other, so when one currency goes up it is always in comparison to another currency. For example, EURUSD is the pair of Euros versus US Dollars. 

As you can probably imagine Forex is a very complex market, and not very easy to navigate in, if not a seasoned trader.

So how can you take advantage of this market, without spending months learning the ins and outs of foreign exchange?

Novatech FX is a platform where you can trade foreign exchange. 

Why Novatech FX?

There are many of these platform, so why mention Novatech FX specifically? 

Novatech FX gives you the opportunity to put your money to work in the foreign currency market, without spending more than maybe 10-20 minutes per week. You’ll simply let them trade for you. In simple terms, you create a PAMM¹ account with them, transfer the amount you would like them to trade for you, and every Friday you log in and see the output from one week of trading.

Sounds simple enough, right? So, what can I expect in returns, you might ask – or of course, you ask that….

3 Pct Weekly Interest!

Novatech FX has for three years running steadily returned around 3% per week!

Obviously, they don’t do it because they have a bleeding heart for you. You pay $25 per month to participate, so as long as you invest more than $250, you should be in the black figures.

Take a quick look at this calculation – initial amount $1000, monthly $25 deducted(withdrawals) – that’s a 365% growth after one year. Which bank offers that?

Calculation Projection image

You will notice that compounding is set to weekly in this example. Each week, your earnings are paid to your bonus account, so you will need to logon and move this amount to the trading account, thus compounding your earnings.

Of course, please don’t invest more than you can afford to lose. Use risk capital. I have fond trust in this site, but please do your own research!

If you believe this is for you, here’s how you get started:

  1. Register – point your browser to https://tcl.novatechfx.com/enroll , I suggest you do this on a computer, their mobile phone site is not optimal.
  2. Fill out the registration form. Should be self-explanatory.
Back Office Menu

You’ll be assigned an ID and an e-Wallet. The e-Wallet is your account on their site.

Once registered you’ll have access to “My Back Office”, which is your portal to view your account and profile. It is a comprehensive platform, so the back office is a bit wordy, but initially, not much will be useful. 

First, you will want to fund your account. 

To do so, login to your account, go to “My Back Office”. 

Upgrade account screenshot

Then click on “Funding”

Next you’ll click on “Upgrade Account”.

Now, you’ll see the PAMM upgrade page.

You’ll need to enter the amount in USD that you wish to deposit. Then, in the next section, select “CoinPayments”.

PAMM Account Page screenshot

Next you’ll get a payment page, with a BTC address to send your payment to. (Or another coin if you’ve selected that). Make sure you include the exact amount of the coin that you’re being billed.

Send your BTC in (within 24 hours)

You’ll receive email confirmation from CoinPayments.net once your payment has been received.

Then, on your My Back Office Page, you can click on QuickView (My Account), and you’ll see your account balances. Once your deposit has been accepted, it will show up under “Trading Balance”

That’s it! Once it shows up there, it is now going to be used for your PAMM account (the one that automatically invests for you).

You’ll get rewards once a week, on Friday morning. Then, you can reinvest into your trading account again, and begin a great cycle of compounding!

As you have probably noticed, you need to fund the account using crypto currency. 

How To Transfer Funds

Unfortunately, there is no option to pay directly in US-dollars, but fret not – I will be happy to help you go through this process. Using a crypto-exchange you can send your money into your own crypto-wallet, from which you can send the money to the account at Novatech FX. I suggest you start by signing up for an account at one of the below exchanges:

Crypto.com 

Binance

Coinbase

If you prefer another exchange, then by all means use that. Follow the instructions on either of these sites and soon you are in crypto-land 🙂

These sites all give you the option of transferring money via credit card or bank transfer.

Nothing in this article is intended to constitute investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. Readers are encouraged to perform their own due diligence and research or consult a licensed financial advisor or broker before making any and all investment decisions. This content is intended for general informational and educational purposes only. Though the author strives for accuracy, the data contained within the article cannot be relied upon.

How To Lock In 2.5% Daily On Your Investment

How To Lock In 2.5% Daily On Your Investment

by | Jul 29, 2022 | Investment, Income

If you haven’t been living under a rock, you will have noticed that just about any market seems to be in a downward spiral. It makes for a sour mood where your senses are telling you to keep a great distance to investments of any kind. Here’s how to lock in 2.5% daily return on your investment.

If you have been investing before, you have probably told yourself “if only I had gone in earlier” or “why didn’t I see this stock was about to rise?”. So where can i put my money to earn the most interest?

It is extremely difficult to buy at all time lows and sell on all time highs — there really isn’t a formula for this, no matter what people are telling you.

But as in any other bear market we’ve ever had, the current one is not really a problem — it’s an opportunity! About now might just be the right time to push in your chips, if only we knew where, right?

In my view, the most exciting projects right now are Furio  and Drip, possibly Elephant and maybe Piston!

What they all have in common, except for being part of my recent investments, is the opportunity of daily compounding your stake, to grow your investment exponentially — even from a very small initial amount.

Furio

Today is about Furio.

Furio ($FUR token) rewards you with 1.75–2.5% daily return on your investment. Let’s do the math — investing just $1000 and compounding for 11 months. As this is written the current $FUR price is: 5.42268 USDC — so you will receive $FUR 183.34

First 28 days calculation

The First 28 Days

When you join, you will start by getting a daily return of 1.75% of your initial $FUR 183.34.

In 28 days with daily compounding, you will reach $FUR 298 – the reward for staying with the program and not yet claiming your daily returns is that  from now on you will start earning 2.5% daily interest.

 

5 Months of Compounding

Now keeping at compounding another 5 months and 2 days, your vault deposit will reach $FUR 13,030.00. So 6 months in you could change to a schedule of compounding 5 times weekly, but claiming twice a week. Let’s elaborate a little on what that means. The penalty of claiming twice a week is that your daily interest falls to 1.25% – which is stil very good, but now you are claiming $FUR 293 weekly – or USDC 1425 after “taxes”. And actually this amount grows, as you are still compounding 5 of 7 days in the week. The first month you can retrieve around $6000!

Can you invest $1000? Even half of that will give you a substantial extra income – so isn’t it time to get going…

Where Do I Get Started With Furio?

Here’s my referral link – start here:
https://app.furio.io?ref=0x41F7edc6ACe7652EA0E5Aee518556286c392D498

  1. Swap USDC (BEP20) for $FUR here: https://app.furio.io/.
  2. Make sure to add a referral ID and click the “Deposit directly to the Vault” checkbox. Feel free to use my Referral ID: 0x41F7edc6ACe7652EA0E5Aee518556286c392D498
  3. Return at least once per day to Compound or Claim. Auto-compounding is also an option and will make things easier, but possibly a little more expensive in transaction fees (gas)
  4. Welcome to the Cryptoid FAST Team

Nothing in this article is intended to constitute investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. Readers are encouraged to perform their own due diligence and research, or consult a licensed financial advisor or broker before making any and all investment decisions. This content is intended for general informational and educational purposes only. Though the author strives for accuracy, the data contained within the article cannot be relied upon. The author may own cryptocurrencies and tokens discussed in the article. The article may contain affiliate links.

“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it“

Albert Einstein

Don’t hesitate to reach out if you need help getting started with crypto investment or maybe you are not comfortable with crypto and web3 terms such as wallets, blockchain, DeFi and so on.

Telegram: @teeceel