There are many different earning areas when investing in cryptocurrencies. Earning passive income is one of them. Lark Davis, one of the popular names in the crypto money market, also states that it is not as difficult as it seems to earn a passive income of $100 per day in cryptocurrencies. Davis shares with her followers 3 ways they can generate passive income on a daily basis.
Cardano (ADA) Staking
According to the analyst, the first way to earn up to $100 in crypto per day is to stake Cardano (ADA). Cardano qualifies as a very popular altcoin for staking and pays 6.5% APY. So if you have 1,000 ADA, you can earn about 65 extra Cardano per year from staking. At this point, you need to have $600,000 worth of ADA to earn $100 a day from Cardano.
According to the analyst’s statements, if you stake Cardano for 11 years, you can double the total amount of Cardano. In addition, ADA is trading in the 1 dollar band as of the time of publication.
According to the analyst’s statements, the second way to make a profit of $ 100 per day is the use of cryptocurrencies in loans. There are some platforms for using cryptocurrencies with loans and you can use your cryptocurrencies through these platforms.
The analyst states that users do not need to hold any extra tokens or coins to get the best rates in loan transactions. At this point, users can earn income simply by depositing the cryptocurrency.
According to the analyst, another way to earn passive income from cryptocurrencies is actually altcoin staking, as in ADA. The analyst states that by staking the altcoin, investors can achieve returns of 6.5% or 8.5% or even greater.
At this point, Davis draws attention to 2 altcoin staking: Aurory (AURY) and Rainmaker (RAIN). Aurory appears as a JRPG style game on the Solana (SOL) network. They offer staking rewards of up to 34% for their flexible pools, which means you can withdraw your funds anytime. However, if you want to lock your money, it is stated that the rate increases to 62%.
However, the analyst also points out that the locked amount will not be used for a while. Also, if you want to earn $100 per day by staking AURY, you need to lock in approximately $60,000.
In addition, when RAIN is staked, the analyst states that there is a promise of 185% APY. Therefore, to earn $100 per day, you need to staking $19,000.
Considering this information, it is worth noting that although big gains are mentioned, a serious capital is needed to achieve these gains.
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should perform their transactions in line with their own research.