Who doesn't like having a passive income (on the side)
Well, I do! Having some extra earnings come in daily/weekly or even monthly is a great feeling. For as long as I remember, I was interested in finding some passive income. I had some failed attempts in the past of income streams that seemed legit, but weren't in the end. It seems like a strange thing to say to a no-coiner that you can work towards a passive income with cryptocurrency only.
Honestly, can you blame them? I'm a yes-coiner (lol) and I couldn't believe some of the returns I saw either. It made me laugh and giggle quite a few times. Printing money (crypto in this case) from digital currencies is quite fun! If the big boys can do it, so can we (the crypto world)!
Passive income from your Hive earnings & Hive power
During the month of July, I saved up my $HBD earnings and that gave me an extra 10% interest for just holding them in the savings account. To me, it didn't really make that much of a difference as it was just a small amount of HBD, but imagine if you've been keeping your HBD in your wallet for months or maybe years at one point, knowing you get 10% interest on that just for not taking it out, that's sweet isn't it?
But did you know that your Hive Power also increases by 3.22%? It can add up over time, so when you're having the building mentality you can actually be smart and earn extra by moving some of your funds towards savings or powering them up to benefit the most from holding them.
My favorite: $CUB Farm & Kingdom
Although the passive income coming from Cub farming could have been a lot higher if I didn't have to pull out the funds at some point, I'm still very pleased where I'm at now. I calculated it a few times this week (with different prices, checking the APR table that's showed in the farm info), and every time I realized, this is going in the right direction.
Currently, we have $106 monthly coming from farming. I only take into account the current price when I do this math. I just recently started to move the Cubs that were farmed into the Cub kingdom, not too many are in there yet, and yes, it's a slow process earning in there, but I like seeing what I've "earned" so far. At first, I sold half for BUSD and add more LP to the farm. I stopped doing that a few weeks ago, and started moving them to the Kingdom. Auto-compounding is quite convenient :)
I suspect the passive income earnings coming from Cub farming/kingdoms will soon go up as I will keep moving funds there. I may decide to spread the risk by dividing the funds in another farm or kingdom though. I haven't decided yet. I know now what I have, and I'm happy with how this is going, so for now it's all good!
Other passive income streams
On top of the Cub earnings, I have a few other things staked which in total all comes down to $87 a month. Together with the cub, we're talking $193 a month where I don't have to do anything, besides a few times harvesting.
I'm not taking out any of these funds coming from the passive income streams, I re-invest them in the same project or coin or buy bags of something else. For now, I'm very pleased with the numbers, especially knowing how much of the portfolio had vanished during the crash.
I took a step back from the markets for a while as it didn't interest me much while everything was in the red and needed to recover that much, but slowly it was getting pleasant to look at again, which is nice! I can honestly say I picked up where I left and crypto is a lot of fun again, haha.
Glad the bear market wasn't around after all :)
Do you have passive income streams?
If you're reading this on @leofinance, chances are there you are using Cubdefi as well for a farm and/or Kingdom, but I'm curious about other things, if you have some nice passive income to share below in the comments, feel free to do so!
Thanks for reading!