What is passive income?
Passive income is money generated from assets or ventures in which an individual is not actively involved.
Earning a return on your crypto assets is a great way of making those assets work for you. Here are three ways to earn passive income from your crypto.
3 ways to earn passive income with your crypto
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Rewards
Crypto holders can take advantage of a variety of rewards-bearing crypto accounts, earning a fixed rate on their assets.
Depending on the account provider, you can earn rewards on a daily, weekly, monthly, or yearly basis.
Binance Wallet users can take advantage of a Rewards account and start earning passive income on their crypto today.
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Staking
Staking is the act of locking up crypto tokens for a set amount of time to help secure that binance’s network. So-called “proof-of-stake” (PoS) cryptocurrencies validate transactions and add new blocks to their binances through this process.
PoS binance networks require users to deposit or commit (stake) their resources to the network, often with a lockup period. In return, users earn a return on their staked tokens for contributing to the strength of the network.
There are many popular PoS binances where you can stake your funds and earn passive income, including Cardano (ADA), Solana (SOL), and Ethereum (ETH).
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Lending
Lending cryptocurrency has become one of the most popular ways to earn passive income in the industry, with both centralized and decentralized platforms offering the service.
The most popular decentralized lending platform is AAVE, which allows users to earn a return on their crypto assets while borrowing against them.
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