passive income(earn $900 a month from anywhere even living in a van)
Welcome in this blog post how you can make $900 a month passively from your van or anywhere on the go. Sound to good to be true? It’s not its real you simply need to learn how to stake cryptocurrency. So lets get into it.
So they way you are going to make this money is from a process called cryptocurrency staking. What is staking you ask? Staking is a way of earning rewards for holding certain cryptocurrencies. Without getting to technical Staking lets you participate in the network and you are rewarded for holding a particular token similar to an interest savings account. However when the underlying rises in prices so does your investment. Conversely if the underlying asset falls in price so does your principle. If you believe in a particular token such as bitcoin, ETH, Cardano..etc it might be good to stake some tokens.
Okay so you want to stake some coins and earn passive income but how do you do it?
Step 1. Open a coinbase account and connect your bank account and purchase your cryptocurrency of choice. *Note not all cryptos have staking abilities so for the purpose of this blog post we will talk about Bitcoin & Ethereum.
Step 2. Convert your Ethereum to Eth 2.0 to enable staking. *Note once your Ethereum is converted into ETH 2.0 you will not be able to withdraw your ETH until the network is fully converted into ETH 2.0 slated for early 2022.
Step 3. Sit back and watch as your ETH value grows. That’s it its really that simple the more you deposit the more rewards you earn. I believe the cap to stake on coinbase is 40 ETH.
Click here to open your coinbase account
RISKS - Here are the risks with staking with coinbase & staking in general.
Your coins are locked up. So if there is a large move to the downside or upside you will be unable to move your money. Only stake money which you will not need in the short term. Think long term.
By leaving your coins on coinbase you do no have custody of your coins. Coinbase is acting as a bank. If your account gets hacked or somehow coinbase gets hacked you will loose your coins. Coinbase insures your coins up to $150,000 so that is a good thing.
Please enjoy my video tutorial which goes into greater detail on how and why the process works.