Bitcoin has hit the news once again, and this time it is gaining an alarming 15% in just 3 days. That is despite the anxious markets that react to the geo-political tensions, upcoming election and worrying situation about the coronavirus in China. But, the fascinating digital coin, which opened eyes to the whole world where safe and global payments can be made immediately and for very little cost, has not been without any ups & downs. The investors had to hold tight during this stomach-clenching ride of highs & lows, and making a little fortune whereas others nurse on huge losses and trying to undrestand how to earn bitcoin.
Know the Right Way
One earliest type of earning the passive income from crypto is ‘mining’, it is a process wherein the blockchain network awards you with the tokens we do your part for completing computational work required to confirm the transactions on the network.
Just put, you maintain the computing device (referred as mining rig), connect this to the blockchain network (let us use Bitcoin), and allow your device we do what it can do (cryptographic or mathematical problem solving, which uses computing power). At an end of the hard day’s work you get awarded with the additional Bitcoin (or tokens of the blockchain).
Passive income by staking
There’re a lot of crypto tokens that will allow you improve the crypto holdings by HODLing he tokens in crypto wallet 50 and platform that can support staking 401. Some major blockchain projects mint additional tokens by process known as Proof of Stake. It is quite similar to mining, except owning the computing machine with its maintenance, equipment, and electrical costs, and you only need to hold some amount of the crypto to gain from this minting process.