Today is an exhilarating day for me. I found another stream of passive income, and it comes in a unique package. I would have never thought that I would find my next passive income source in CrytpoCurrencies. What a world we live in today.
This article will be short, but I wanted to post my new addition to the site. If you don’t know, I write an article every day. I have five topics, and I go down the list each day. The current list is financial mindset, retirement planning, investing, real estate, and business.
But with what I am learning about crypto, it will need to be its own distinct topic. The new list will look like this; financial mindset, retirement planning, investing, cryptocurrency, real estate, and business.
Why I am Investing in Bitcoin
What have I learned that lead me in this direction? Holding crypto long-term can be very lucrative. It turns out that exchanges will pay you good interest to hold onto your coins. We will get into more on why in later posts.
I just deposited my first coins into the Voyager app. I moved my money into a stable coin that replicates the USD, and they are paying me 9% interest to keep it there. I plan on stockpiling Bitcoin there as well.
I am a passive income investor, a cash flow maniac. I love buy-and-hold strategies. These methods are right up my alley, and the more I learn, the more intrigued I become.
Yes, I understand that Crypto is all about speculating and getting behind a hot coin. Yes, and I may move a small percentage of my coins into speculative pursuits. But I love the cash flow aspect of this new move.
But there is more; there are even bigger passive income strategies in the world of crypto. You can do staking and mining. You can also host nodes where people pay you a fee to mine. There is even a coin that goes to find passive income yield for you. How crazy is that?
And every day, it is getting more extensive and more diverse. I’ll try to keep up. I actually have a top expert in the field working alongside me. We can talk for hours on end every day, and I am trying to document what he is telling me. It is like talking in computer language.
5 Takeaways from “Bitcoin: Hard Money You Can’t F*ck With”
What do I hope to cover? Well, we need to ensure we all have a base knowledge. Knowing the history of coins is essential, and so are terms such as chain link, stable coin, centralized exchanges, etc. It is a whole new language that we will need to learn together. Please work with me, as my old brain takes time to digest and process this info.
A website that I am adding to my daily list of information is CoinGecko. Hopefully, this site will have a plethora of helpful information for us. I learned most of what I know about stocks on Seeking Alpha, so I assume CionGecko will be the same.
Welcome to the world of CryptoCurrency. It will be exciting for all of us. Hopefully, you don’t just focus on Crypto. It is just a part of the beautiful world of passive income: pensions, rents, royalties, dividends, and now Cryptos! Good Luck!
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https://www.pinterest.com/kingmarine/military-family-investing/Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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