So if you're just getting started out with cryptocurrency, and you want to learn how to make real passive income with your investments, this is going to be your full beginner friendly guide on earning passive income with cryptocurrency for the year of 2021.. Make sure you watch this video till the very end, because i can guarantee that some of you may have been missing out on thousands of dollars by not knowing that some of these methods actually exist and guys. If you do learn anything new at any time, go ahead and hit that, like button down below on this video, so youtube recommends more educational content like this to your own page. So, to start this video, let's first talk about the oldest method here to date, and this is all about mining.

So what is crypto mining? How do you get started and how much money can you actually make by doing this? So miners are essential to the blockchain network and are rewarded in cryptocurrency, just think of the california gold rush in the mid-1800s, where miners needed picks and shovels to extract the gold, but in 2021 it's it's actually like bitcoin. If you're mining bitcoin you get paid in bitcoin, if you're mining ethereum you get paid in ethereum bitcoin miners just need a computer and internet connection to validate new blocks on the blockchain, and then they receive a reward. Now, mining any cryptocurrency can be super computer intensive compared to your average task, and it can burn out your computer and fans when it comes to mining bitcoin as an example, this oftentimes require exponential resources due to the volume and intensity of what bitcoin is. According to a study from cambridge, it was found that the mining of bitcoin actually uses more electricity than the whole of argentina.

Another study shows that mining a single block consumes enough energy to power more than 28 homes in the us for a day to mine bitcoin. It's as easy as downloading a program off the internet and pressing go, but knowing how mining works. Is this really feasible to regular people like us? After doing a ton of research, i came to the conclusion: mining bitcoin can be passive income, but the profits are pretty. Slim, especially when you take into consideration the cost of electricity, any additional computer gear, and it just may not be worth it, but honestly, your miles may vary depending on where you live and what type of computer gear you already may have believe it or not.

I have some friends in real life who have a second computer set up in a separate room, mining bitcoin and it's paying off the computer. They bought pretty passively. Now. Is this the best way to earn passive income on cryptocurrency, maybe a decade ago, and then you hold on to those bitcoins and we see what it's worth now, but in 2021 there are a ton of other options that are not just easier and safer, but it Can also be way more profitable as well, and here's what we have so for the second way to earn passive income on your crypto.

We're gon na be talking about staking now to break this down, because this method can sound very foreign to a lot of new beginners. Let me just break it down for you when staking your crypto you're, essentially just locking up the amount of crypto, that's under your assets for an agreed upon time and still earning whatever market price is fluctuating or occurring, unlike mining, bitcoin, where you have to set up Programs staking bitcoin is actually really simple. You can get started by downloading a few apps and just clicking a few buttons and you're on your way of earning real passive income every single week. Okay, so i got my iphone right here and i'll be showing you how to stake your cryptocurrency through an app called crypto.com.

Now i've been using crypto.com since i was in college, they have over 10 million users, one of my personal favorite apps. Out of all the different platforms and exchanges that i use, it's really simple: you have a navigation bar right here of your home page, your account, you can track different coins and then they also give you something called a crypto.com visa card, which is amazing. You can actually make purchases directly using crypto, so if i wanted to buy uh, i don't know like some chipotle. I could go ahead and use my crypto.com visa card and literally put bitcoin onto that crypto.com card and it'll pay it out in usd so technically i'd be paying chipotle using bitcoin.

Now i don't want to be like the pizza guy, so i'm definitely not going to do that, but it's just an option that you have. What we're gon na do is go into the crypto.com logo right in the middle of the screen, and what we're gon na do next is click earn. So this is really simple, and it's really interesting. So as soon as you click that you'll go into the crypto earn menu right here and it says, earn up to 12 pa on your crypto assets.

Pa stands for price action and unlike putting your money into a savings account where you deposit it, and then you earn a whoop and then you earn just okay, let's uh, we'll just keep that over here. Okay, where was i so say, uh just got lost alrighty guys so to go back into the explanation of how staking works and how you can set it up for your app. You just need to download crypto.com use my code down below if you guys want 25. If not completely, okay, but here on your phone you'll see that you have flexible one month and three month terms as well, so based on how long you're able to commit whatever cryptocurrency you want to stake, you'll be getting a higher pa for that amount.

So you'll see crypto.com, which is crypto.coms coin you're gon na you can earn up to six percent pa. But if you scroll down you'll see bitcoin gives you six point: five percent price action. You got ethereum at 5.5 uh. You got the usd coin at 12 and back in the day when i used to use this like four or five years ago, you stake your coins for a really long time, i'm talking one plus year.

I think it was two years at a certain point too. So they did reduce the staking term. I remember you definitely had at least a six month term, so i guess due to the volatility and the nature of what this is they're, always constantly changing the offer for it. So if you do want to just easily earn a cryptocurrency passive income say i wanted to put up.

Let's do let's do v chain all right. I got some v chain, so i'll press start earning now right here, i'll to v chain i'll, do a three month, pa i'll continue. It's so easy. I literally just check mark these boxes right here continue and then you just press deposit and you are good to go.

I don't want to do this just yet for my mount, you know what, for videos purposes i'll, do it guys i'll do it? So i have how much v chain i got. I got 60 500 v chain, i'ma, lock this bad boy up for three months. This is just for my youtube family. So drop a like down below for this all right.

So i deposited 62. 500. Vets got a little email confirmation right there and pretty much with this. I'm now earning interest on that amount.

So i wasn't planning on selling this anytime. Soon i've been holding this i bought in at five hundred dollars. This investment went up to five thousand six hundred dollars, so it's a pretty good return so far. I don't see it slowing down anytime soon, so i'm just gon na have it staked and from here you can continue to add your amount.

You can see your completed terms, but now i have a three month obligation in holding this and you'll see at the zero v e t in the green. That's the amount of interest i will accrue on this amount. So so, as you can see, this is just another easy way to earn real passive income on the money you already have invested today. Now, last but not least, you can also lend your crypto out, so i personally use a ledger: nano x as my cold storage for a majority of my crypto on ledger's platform.

You can find assets to lend out to other people and earn interest on it's very similar to staking, but the principles are a little bit more different on the back end. This process is as simple, though, as buying and trading crypto. Now, if you don't want to lend out your crypto individually, you can also check out another resource called blockfy.com. So what blockbuy does is pretty interesting.

Imagine lending out your crypto to someone, but a company takes care of it and they make it easy and safe all. While you start to earn interest on that amount, and instead of just lending out your crypto to like, i don't know, just random people out on the street they're lending out to actual viable institutions that have been around, so it really does reduce the risk. Now. Just like many of you may have a savings account where you earn less than one percent in interest block fi allows you to earn up to 8.6 apy with no hidden fees, minimum balances or lock-up requirements.

Much of what staking requires block fire's, really nice, because you really don't have to do anything at all. You just have to deposit your crypto into your account and it has such little commitment. While you earn additional interest on that price action, where it's the most passive income, i believe you can get for the amount of money you have invested just with the way cryptocurrency works and earning additional amounts of money due to the market, price and volatility. Imagine having a little icing on the cake where you get up to 8.6 back on that total amount.

That is amazing for people like us, and i do believe that this is fairly new, that this hasn't been around for a while. Now, if you enjoyed this video, don't forget to subscribe to the channel and comment down below lasers. If you made it to the end right here, don't forget to check out the links down below in the description. I do have a partnership with blockfy, where my viewers can get up to 250 back depending on how much money you deposit and you can get 25 with crypto.com using my code jung when you sign up for the app now aside from that.

Thank you guys. So much again for watching, i hope you guys have a great day and until next time, peace out.