Passive Income and Cryptocurrency: 3 Easy Ways to Make Money. LATOKEN Review
Here’s our new LATOKEN review where we want to talk about something that really matters — passive income.
Buying and selling digital assets is far from the only way to make money when dealing with crypto. LATOKEN cares about its users, traders, and crypto enthusiasts. Therefore, it is essential to stay up to date and do your research. Read our LATOKEN review — let’s try to find out how to diversify your portfolio and get more profit.
Over the past month, Bitcoin has finally risen in price by 1.5 times. The Bitcoin price on August 23 for the first time exceeded $50 thousand since mid-May. Traders and investors who bought Bitcoin at $30 thousand per coin in May, June, and July have already gotten almost 67% of the profit. But buying cryptocurrency isn’t the only way to make money with digital assets.
About crypto lending. What is it?
Cryptos have long been heralded as the future of finance, but it wasn’t until 2020 and 2021 that it caught on to a fantastic idea: making money with money.
The emergence of cryptocurrencies has significantly expanded earning opportunities and provided many new ways to increase capital. One of the most significant is crypto lending. With a thoughtful approach, lending might bring more than 350% per annum, which is a relatively high earning yield.
Crypto lending is a form of Decentralized Finance (DeFi) where traders lend cryptocurrencies to borrowers in exchange for interest payments. Crypto lending platforms usually accept cryptos, coins, and stablecoins.
It should be noted that making money with crypto lending is considered high-risk. Still, a promising high income in a positive scenario can fully offset the risk. At the same time, do not forget about cold math. If you chase easy profits without thinking about everything thoroughly, you can be left without income and lose your invested capital.
LATOKEN cares about its users and more than once touched upon the topic of safety when dealing with crypto. You should be especially careful about crypto scams and avoid becoming a victim of such fraud.
LATOKEN review on crypto staking
Staking is a way of passive earnings in which users store coins on the Proof of Stake (PoS) algorithm, ensuring blockchain performance. It gives the holders the right to profit. This option is only available to cryptocurrencies that run on PoS, such as EOS, Tezos, TRON, Cosmos, etc.
The point of staking is to ensure all operations on the blockchain and support the network. For this, holders of digital coins are rewarded. The more tokens a holder has, the more likely he will become the creator of a new block.
By the way, do you know that the LATOKEN platform has this feature? It allows traders to get interest on selected cryptos like bank deposits but with a much higher annual percentage yield. So what are you waiting for? Start earning rewards from your assets right now!
It is believed that the use of staking also depends on the trader’s strategy. For example, if the holder of an asset is willing to accept the inability to sell it for a long time, then staking will become an additional source of income.
Staking may bring from 3% to 15% per annum. The most promising tokens are those that have a medium-term trend towards an increase in the rate. Therefore, it’s better to pay attention not to the percentage of staking but to the stability of the trend of growth in the token’s value.
Staking can be called a full-fledged alternative to bank deposits or bonds. This is a conservative tool that might even reduce risks in some strategies.
What is a crypto fund? LATOKEN review — 3 Possible Ways to Make Money
If a trader does not have experience working with crypto assets but wants to start making money this way, one of the best solutions is to use cryptocurrency funds. When working with a fund, key risks are negotiated in advance, and traders can be more confident about their funds than if they buy crypto on their own.
The most promising cryptocurrency funds are considered Pantera Capital, Bitcoin Investments Trust, and Blockchain Capital, but they are more focused on large investors. There are also reputable funds for retail investors.
When choosing a crypto fund, many experts also recommend examining its market reputation and work history to protect yourself from crypto scams. Once again, LATOKEN wants to remind you that to avoid becoming a victim of a cryptocurrency scam, you should always do your own research and play it safe.
If you want to learn more about tokens listed on LATOKEN, crypto projects through LATOKEN Review, and tips on avoiding becoming a victim of a crypto scam, follow us on Medium, LATOKEN Blog, or LATOKEN VCTV channels.
LATOKEN is a fast-paced international crypto exchange and IEO platform with 1.3+ million users throughout the world.
LATOKEN brings commerce and banking to blockchain technology to automate transaction processing and save billions of working hours per year. Only one year after its launch, LATOKEN got 850,000+ downloads on Google Play and 1,200,000+ subscribers on social networks. Entrepreneurs and business owners who look for funding can also consider the LATOKEN IEO Launchpad. More than 300 digital assets and 500 crypto pairs are available for traders with the ability to connect using RESTful APIs or WebSocket.
What is more, LATOKEN has recently launched a P2P service for its users to improve the trader experience further. And the cherry on top, LATOKEN hosted the Blockchain Economic Forum last year. BEF Roadshows connect crypto investors with business people to build the next big things.
LATOKEN does not provide investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like many other assets, cryptocurrencies are subject to high market risk. Please trade with caution.