I am really enthusiastic about the chances of generating passive income using cryptocurrencies. It is amazing to see the value of your wallet grow while you sleep or go to the toilet, and I believe we are just in the start of something that will grow way bigger. Of course, there will be lots of ups and downs along the way, but the large picture still shows us moving upwards, in the right direction!
We often think of Defi platforms and we look for high APY numbers when we consider the passive income opportunities. Often we become so blind by looking, that we forget about the obvious... like voting for the posts of others on Hive!
Did you know that simply by voting for 10 posts a day with full voting power, you will generate something close to 10% APY every single year on Hive? If you then take into consideration the fact that the tokens compound (your stake grows continually), it can easily become even higher than 10% as well.
Of course, if you have to spend several hours a day to read articles and to vote, it cannot really be called passive income anymore. But, if you don't have the time to vote, or maybe you forget about it, this is my suggestion for you!
Follow the votes of someone who for sure votes 10x a day!
To be honest, if you don't have the time to vote, let someone else vote instead of you. This will generate a passive income for you, and this time it is really passive because you do not have to do a thing. All you have to do is to go to hive.vote and follow a curation trail that places that number of votes per day. There are several projects that you can follow, or you can follow persons that will get the job done for you.
Why would you miss out on such passive income if you first invested in the platform?
If you want to read about other crypto platforms that will help you generate passive income, take a look at the following article: https://www.ipaddressguide.org/want-to-earn-passive-income-with-crypto-five-platforms-you-should-consider/
There you can read about projects with low risk and "low" APY, and about other projects with much higher APY, but at the same time, with higher risk as well!