I want Passive Income from Cryptocurrencies
The crypto asset market that has fallen by 80% since last year’s peak. In such market conditions, I think there are many who have been holding their crypto assets that were purchased before the drop holding for a long time. In the current situation, there may be a lot of people who just think they are losing value. I would like to introduce a method of earning crypto assets while investors are sleeping.
Utilizing exchange mining
Are you familiar with Exchange Mining? With exchange mining, exchange tokens are distributed according to the fee generated when trading crypto assets, and exchange earnings can be obtained by holding exchange tokens and can earn profits simply by holding them. For example, a new exchange in 2018, CROSS exchange has issued a token called XEX. Tweets on Twitter regarding the rise of this exchange have shown postings and examples of how profits can be earned efficiently.
Reference: CROSS exchange
Mechanisms of exchange mining
What kind of mechanism is exchange mining specifically? Here, I would like to comment on the exchange mining of CROSS exchange as a reference.
i. Buy and sell crypto assets
ii. The fees are pooled when buying and selling crypto assets
Iii. XEX is a mined token on CROSS exchange
iv. XEX will be distributed according to trading fees
First of all, if you acquire XEX according to the fees talked about above, you will get a distribution according to the exchange’s earnings according to the number of XEX held and that you do not sell. However, you can aim to increase earnings by increasing XEX just by purchasing actual XEX according to the fees and holding it in the following way.
«Use Mining Pool»
Earn fee distributions with automatic mining
|Course Name||Dividend Bonus(%)||Lock Period (Days)|
|Mining 90||30%||90 Days|
|Mining 60||18%||60 Days|
|Mining 30||8%||30 Days|
With mining plans, by specifying the lock period of XEX, you can earn up to 130% depending on the fee of crypto assets. Specifically, if you buy or sell 2 million Yen worth of Bitcoin and Ripple, the fee for CROSS exchange is 0.1%, so a fee of 2,000 Yen will incur. This fee of 2,000 Yen will be distributed as XEX up to 2,600 Yen. As mentioned above, by locking XEX with the following revenue plans as well as the fee, the exchange share ratio will change, so let’s choose a lock period that suits you.
«Revenue sharing plan»
|Course Name||Dividend Bonus(%)||Lock Period (Days)|
|Premium 90||80%||90 Days|
|Premium 60||60%||60 Days|
|Premium 30||40%||30 Days|
Cross exchange earnings are distributed daily according to the XEX holding rate at CROSS exchange. You can receive XEX in addition to the above mining rewards. Total distributions as of February 16, 2018 is $ 199,333.62 as follows:
The more you leave (the longer the lock period), the higher the rate of return, so it is a perfect way for users who want to buy crypto and leave it alone. However, if the value of XEX drops, be aware that you may lose money as this risk does exist.
What is Lending
It is a system where you can get money by “lending” the cryptocurrency you hold. It may be understandable to say the crypto asset version of a stock trading loan. Crypto assets that are not scheduled to be sold or used for a long time can be said to be a valuable system because you can get a lending fee of up to about 5% annually.
Exchanges dealing with lending
Currently, the only exchanges that offer lending services are Bitbank and Coincheck. Also, the only crypto assets both exchanges offer is Bitcoin. Here we will explain the mechanism of lending, using Coincheck* as an example.
* Coincheck Homepage
i. Apply for lending
Lending may not be approved depending on the total loan amount and the term.
ii. Payment of usage fees
The fees will be paid together upon return of your cryptocurrency. The usage fees are paid in cryptocurrencies.
Reward amount from lending
The maximum annual interest rate is 5%.
Bitcoins that are not sold or used for a long period of time can be put aside to obtain usage fees even if they are neglected from lending.
Invest in PoS currencies
PoS (Proof of Stake) currencies are designed to receive newly issued crypto assets based on the amount of crypto assets held. They are essentially crypto assets where arbitrarily the more you hold, the more you earn. In general, because there are many crypto assets derived from Bitcoin, the current situation is that there are many currencies that employ PoW (Proof of Work), as with Bitcoin. Also, crypto assets that use PoS are currencies that are not handled by domestic exchanges, such as NEO.
There are also many PoS currencies (some of which have a 3,000% annual interest rate, such as DIVERS). Note that crypto assets that only sell for such high yields may be scams and conversely cause drastic losses (in fact, there are many crypto assets that have the goal of just being listed by an exchange).
Ethereum is said to adopt PoS from now on. If you want to invest outside of the price of crypto assets, you may want to invest in Ethereum rather than Bitcoin.
« Top 5 High-yield crypto assets »
|Crypto Asset||Yield||Official Homepage|
Hard forks (coin splits)
During August 2017, Bitcoin hard forked and Bitcoin Cash was born. This hard fork distributed Bitcoin Cash at a ratio of Bitcoin: Bitcoin Cash = 1:1. Even if bought and left like this, it is possible to automatically acquire new crypto assets from hard forks (coin splits).
Bitcoin has also had the following hard forks:
However, only Bitcoin Cash is distributed on all Japanese exchanges. Therefore, for those who want to acquire new crypto assets via hard forks I recommend using foreign exchanges.
In this article, I have introduced how to earn crypto assets by simply leaving them alone. I think that you can see that there are various ways of earning cryptographic assets as well as capital gains from profit taking. I urge you to use the article as a reference and earn as many crypto assets as possible.