Looking for a passive income opportunity in crypto? Here are your best options.
Blockchain assets and digital currencies had very limited use cases during the early days of cryptocurrencies. However, the emergence of DeFi or decentralized finance changed this scenario, opening novel ways of using cryptos to maximize returns. Users can now explore ways of earning a passive income with DeFi projects by putting their idle cryptocurrencies to work on liquidity pools, lending protocols, experimenting with yield farming, and decentralized exchanges.
Trying to earn a passive income with DeFi is an ideal investment strategy, especially during this crypto winter. What if a passive income from these 3 DeFi projects could replace your day job and secure a wealthy future? Let’s explore this in detail.
Uniglo (GLO)
Thanks to its innovative Ultra Burn mechanism, Uniglo has room for high growth in the future.
The need to reduce market volatility is highly crucial in the crypto sphere. GLO, with its unique methodology, aims to make a shift from using a gold standard back to genuine tangible assets. It is a community-based social currency backed by a balanced "basket" of valued digital assets, currencies, and rare NFTs. The proposed goal of Uniglo is to balance wealth preservation and growth inference using digital art, cryptos, and rare collectibles.
Apart from being a unique cryptocurrency, users can earn passive income from this DeFi project and replace their day job. Uniglo has a strong and diversified asset-backed store of value. Along with digitized versions of real-world gold and fine art, the GLO vault also has investments in other cryptos. It helps users earn a passive income by giving them access to high-end investment options like gold, which was only available to the wealthiest population in the world earlier.
Additionally, Uniglo Protocol also uses a ground-breaking burning mechanism. The goal is to incorporate scarcity through an eccentric ultra-burn process and create a coin whose value will increase over time.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Helium (HNT)
Helium mining is the best passive income idea that would help you replace your day job.
Helium, the DeFi project hailed as “The People’s Network,” has now become a blockchain-powered wireless service. It offers a long-range connection to several nearby Internet of Things (IoT) devices, like scooters and particular smart devices using individually-owned hotspots. Its native token HNT could be a good investment option to earn a passive income as the network is growing exponentially. Helium has an ambitious vision. It aims to represent a novel approach offering a reduced cost structure to deploy and manage the wireless networks at a large scale.
Moreover, a passive income from this unique DeFi project could help you replace your day job as it helps to set up mining rigs and allows users to enjoy their yields growing over time. Helium mining is a novel and innovative way to mine crypto. Along with earning HNT, you can seamlessly provide your city with miles of low-power network coverage for over billions of devices simply by deploying a device in your home or office. The blockchain employs a Proof of Coverage (PoC) algorithm that uses radio waves to validate Hotspots and provide legitimate wireless coverage.
It is best to buy HNT now for earning a passive income as the network would see increased adoption and a rise in price in the future. Especially with Helium LongFi, a new and open wireless protocol specifically optimized for miles of range and maximum battery life for low-bandwidth IoT devices. Using LongFi, any device can transfer data on the Helium Network.
Additionally, Helium has garnered serious attention from investors with its latest round of funding. It raised over $200 million and was valued at more than $1 billion.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Avalanche (AVAX)
A passive income from AVAX staking could help you replace your day job.
Unlike the other DeFi projects, Avalanche is not suitable for mining. Instead, it is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. The native token AVAX could be used to create powerful applications. AVAX holders can also earn passive income by staking their tokens to secure Avalanche and receive rewards in return. It is the best platform to earn from staking because staked tokens on Avalanche are never exposed to the risk of slashing.
The platform has a seamless workflow where a user can run an Avalanche node, stake the token, and earn rewards. For example, staking AVAX on exchanges like Binance can reap significant rewards as the APY can be as high as 21%. Moreover, users can also provide liquidity pools on Pangolin, a community-driven decentralized exchange for Avalanche, and receive PGL tokens as a representation of pool ownership.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
There has been exponential growth in the crypto sector in recent years, especially with DeFi projects. The disruption of the traditional financial market has led to a new economic era with a new set of rules and opportunities to earn income.
There are numerous projects in the market that could help you generate good returns, but a passive income from these DeFi projects could help you replace your day job seamlessly. An investment in these DeFi projects could help you make a sustainable income you can rely on and also opens the door to new opportunities within the blockchain sphere.
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