Although it has a reputation for being easy money, passive income streams are rather challenging to build and maintain, especially when it concerns advertising, optimizing content, and delivering superior quality work. Still, it’s one of the best ways to get more freedom and flexibility.
Passive income stream ideas are all over TikTok and Instagram Reels, with social media gurus touting everything from dropshipping and writing e-books to YouTube and AirBnB as ways to make money without lifting a finger. Like these investments, people can also generate passive income by trading cryptocurrency. First, however, let’s define passive income.
What is Passive Income?
Passive income is a cash stream that requires little to no effort to maintain on a regular basis, unlike active income, which requires working a daily job. Passive income may be generated through investments in financial products, being an inactive partner in a business, or investing in real estate.
Passive income, live active income, is also taxable by law, although the rules for them are different depending on the source of the money.
How ‘Passive’ is Passive Income?
Passive income, in many cases, isn’t truly passive since any pursuit (stocks, dividends, rental properties, businesses, and crypto) all still require upfront work before you can reduce your hours. In many cases, the work involves maintenance too. However, it requires much less time and physical investment than a regular 9 to 5, which is what makes the venture so appealing to so many.
How to Earn Passive Income
The goal of passive income is to “earn money while you sleep,” and luckily, there are now apps one can download to start making money. It has become more convenient than ever to join the bandwagon.
Anyone interested in cryptocurrency is aware of its huge potential, and they have likely heard of Coinbase. The platform was designed keeping new users in mind, making it easy for new traders to navigate the cryptocurrency sphere.
One may earn passive income by trading in cryptocurrency, and though it is a volatile market, the returns are better, and one can avoid considerable risk by doing prior research into the projects first. On Coinbase, however, users can earn crypto by simply watching videos and taking short quizzes, and they can earn tokens like Compound, Stellar Lumens, and Amp.
2) White Whale
White Whale takes power back from the stereotypical whales who manipulate markets and deploy bots for their strategies. They are focused on empowering retail investors and creating an ecosystem where everyone gets an equal opportunity to build wealth.
With White Whale, users can contribute to a decentralized financial system by arbitraging UST back to peg, which is uniquely appealing to the community members because it generates delta-neutral profit and serves the critical function of keeping the peg, making the Terra ecosystem more secure and robust.
Essentially, White Whale users are able to make passive income with just one click of a button. Once a user deposits their UST into a UST Vault, it will automatically be earning APY of 18%. Plus, when the arbitrage opportunity arises, White Whale bots will execute the trade, and its users will see the yields deposited into their account.
Real estate is one of the biggest passive income sources touted by moguls and influencers, but it’s not an easy game to buy into. This is why Fundrise enables anybody to own a piece of real estate themselves. Fundrise pools funds to raise money for large-scale real estate investments worldwide, allowing users to get in at a low cost yet still own property and diversify their portfolio.
As the world wakes up to the benefits and possibilities of passive income streams, more and more opportunities crop up for them to invest their time and money.
However, not all platforms guarantee stability or returns, and many of these ideas isolate the investor from a community. White Whale’s ecosystem actively encourages community engagement and keeps the cryptocurrency sphere accessible to all and free of manipulation, and upholding the integrity of the ecosystem generates rewards for all those involved.
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