You Miss 100% Of The Shots You Don’t Take
An old saying that never seems to grow old, most likely due to it being very true. If you don’t set goals or fail to aim at reaching certain measurable points in your journey, you will most likely travel very slowly! If you want to reach any type of measurable success, you need to be committed with a specific plan mapped out.
You have to have certain points of progress measured and planned out in order to reach them and enjoy the benefits of accomplishment.
Time Waits For No Man
It is pretty much as simple as that and the quicker you get going, the quicker your progress will produce the results you are seeking. Time waits for no man and as mentioned before, it is the most valuable asset you have, as it can never be replaced. Unlike money, cars and homes, time is finite and if you waste it, you lose it forever!
The Main Objective
This being said, my main objective is to increase my passive earnings, for the simple reason that the initial time spent on these endeavors will continuously reward me. What does this mean in practical terms? Well, by managing to secure a passive income equal to a working wage, I am effectively saving myself enormous amounts of time. In other words I am saving the most valuable earthly asset.
The consequence of this being that I never have to allocate another hour of my time, in order to have an income. This is massive and something that not many seem to fully comprehend. When I speak of meditating, I am not talking about some type of spiritual ritual. I am talking about thoughtful consideration and planning. This is an absolute imperative aspect to developing a great understanding and strategy.
Necessity Is The Mother Of Invention
A recent lack of regulatory clarity has basically forced me to increase a certain aspect of my economic model. By doing this, I am subsequently strengthening one particular aspect of my model in order to depend solely upon it until there is clarity and clear guidelines. This does have benefits, as now I am allowing the rest of my model to grow in value. From a long-term point of view, this is actually helping me. However, in the moment, it does involve some sacrifice.
Another Reason Why Passive Income Trumps All
This is exactly why I love passive income so much! Sometimes, as a trader, one can be limited by the services your country allows. Certain transactions can become an issue in certain regions of the world. However, money coming into a country from an external source is generally smiled upon, as the country is not leaking investment or capital but rather acquiring capital, which will subsequently be taxed.
There are so many really good reasons that actually promote the building of passive income above every other form.
For example, one of my favorite passive mechanisms is BetFury. When I take into account my monthly staking earnings, as well as referral earnings, this mechanism alone covers more than half of my monthly rental. This is completely passive and merely requires me to login and cash out. This to me, is the first prize of earning within the Crypto space! I am constantly building upon existing mechanisms, as well as seeking out new opportunities.
Some Avenues To Explore
Obviously some of the best opportunities are those that do not require any investment but rather have ways in which you can alternatively earn income. Utilizing opportunities that have multiple tier referral programs such as PipeFlare, or even CryptoTab are great ways to do this. These opportunities allow you to earn a small amount on a daily basis but also have basically unlimited referral programs that can generate rather meaningful income. Multiple tier programs have an amazing way of compounding even small amounts into substantial amounts. This is obviously relative to your own unique referral base.
One of my other favorites is Cointiply, mostly due to the high earnings that are available to users. This is probably the highest micro earning site in the Crypto space. Cointiply does not offer a multi tier referral program but their program is unlimited. So users are able to refer an unlimited amount of new users to Cointiply, making it extremely viable and a favorite to many, other than myself. Great personal earnings that can be complimented by rather significant referral earnings.
Trading platforms such as Bybit and FTX are also great avenues to utilize. A trader who enjoys and benefits from an exchange will continue to use the platform and subsequently earn the referrer ongoing commissions. There are many other options such as BitYard, or even Biswap, which is a DEX that has a referral program as well! The attractive aspect of Biswap is that every trade you execute on the DEX earns you BSW. The fees are extremely low and you get to earn BSW every single time you trade! This is why I prefer to swap coins and tokens here, as I will be paid for my trades.
Utilizing platforms that require investment generally incorporates DeFi and traditional lending platforms such as Celsius and Nexo. The returns are also a lot lower on traditional platforms, which means that larger amounts of capital need to be secured in order to earn meaningful income.
Create Your Own Economy
However you may choose to create and generate ongoing passive income is entirely up to you, as the space is literally jam packed with opportunity. That being said, this should not be considered investment advice. This is simply me sharing my journey with you. All the best and wishing you well on your journey through the world of Passive Crypto Income!