#Passive income crypto plus

There's price volatility and with staking some of your tokens and earnings and passive income, it depends on the particular platform, but you might be locked in for a specific period of time, can't sell, and if the token drops 90% in value, doesn't really help you if you're running at 10% yield. Two main risks are that the platform that one stakes that tokens on could, there's always a potential loss of your tokens from whether it's a hack or an outage, what have you. On the other hand, there are some risks with whether it's staking tokens or finding ways of earning passive income. Whether it's staking or what have you, there's value that can be created there and probably makes sense to capture some of that value. Generally speaking, there aren't cash flows necessarily with cryptocurrencies, but there are ways that various decentralized applications can allow for income streams to be provided.

On the one hand, if you're going to hold this crypto for the long term, it probably makes sense to lock it in somewhere and earn a return on it. For me, when I think about passive income in the crypto world, there's maybe two sides of the coin. I think the passive income argument with crypto is certainly interesting. A lot of those tokens have been highfliers of late. The Celsius Network is definitely an interesting one to look into and similar in some ways to Compound ( COMP -2.50%) and Aave ( AAVE -1.47%) that I brought up earlier. Are you familiar with Olympus ( OHM -0.76%), symbol OHM? Thanks.' Any thoughts there on passive income?Ĭhris MacDonald: Yes. Long-Time Listener, First-Time Caller says, 'Any thoughts about using Nexo ( NEXO 2.89%), Celsius ( CEL -12.46%), and BlockFi for passive income. I'm going to put you on the spot here, Chris. I also play the role of a husband and a father.Jon Quast: As we transition out of the news section of today's show, I did want to hit a couple of questions over here in Slido. Today, I help other Singaporeans to build their own passive income portfolio so that they too can retire early. I've completed my Juris Doctor and have been called to the Singapore Bar since. One of my first acts upon retirement was to achieve my dream of completing Law School. Through my personal savings and investments, I earned my financial independence at age 39, after my investment income started to exceed my monthly take home pay. Hence, I started investing to build a second stream of income. This got me worried about my job security.

I was an IT manager for over 15 years and have worked in multinationals, financial exchanges, trade unions and even a government agency.Īs an employee, I was often too direct, although I did well on my KPIs, I didn't do very well on evaluations.

Since retiring, I've completed my Juris Doctor and have been called to the Singapore Bar.

CAIA, FRM qualifications and passed all three CFA examinations.

Masters in Applied Finance also from NUS.

Bachelor in Engineering from NUS (1st Class Honours).Join me at my upcoming webinar, if you'd like to generate a passive income using cryptocurrencies without having to deal with market crashes. I'll be sharing what I've learnt in the past months as well as the expensive mistakes I'd made so that you don't have to repeat them. The good news is: it's safer than I thought. I spent months reading about blockchains, Bitcoin, went through countless whitepapers, learnt about the mathematical models that these cryptocurrencies were designed with and most importantly, made a ton of mistakes with my money in the cryptocurrency space.

#Passive income crypto plus

' plus I don't have to worry about the volatility of the crypto market, I get the same rates, even when Bitcoin crashed!'Īs a dividend investor, I take pride in my ability to generate a sustainable dividend income that is paying for my retirement. One day while drinking kopi with a friend, he told me that he was generating ~19% annual yields off his cryptocurrencies: 'Way better than saving rates that any bank can offer!' How can anyone sleep well if they had a significant portion of their capital in it?! I mean, in 2021 alone, Bitcoin price swung from US$60k to US$35k and back. I had always dismissed cryptocurrency as a fad - too volatile for any decent, conservative investor to grow their money with, sustainably.