How to earn passive in Crypto with Pure App
Cryptocurrency is a unique financial instrument that enables anyone with an internet connection to participate in a distributed economy. That includes opportunities to earn passive income. There are unique risks associated with investing and earning with cryptocurrency, even though it may seem like a bank account or social lending platform.
With Pure App you can let your Cryptos work for you and get passive income. The best part is that you can Earn interest just from holding Cryptos, with fix plan or without any time limit!
By visiting our user friendly website you can also use our Crypto calculator and calculate your estimated income* https://www.purewallet.app/crypto/
Here are a few frequently Asked Questions to help you start your cryptocurrency journey:
Is cryptocurrency income taxable?
As with other types of income, cryptocurrency income is generally considered taxable in the United States and other countries. Consult with a trusted tax professional or tax software to learn how to handle cryptocurrency income and whether it’s taxed in your situation.
What portion of my portfolio should be in cryptocurrency?
Everyone has unique investment goals and risk tolerance. Cryptocurrency isn’t for everyone, and there’s no right or wrong answer to the percentage of your portfolio that belongs in crypto. If you’re not sure how to proceed, it may be best to work with a financial advisor with more understanding of the nuances of investing.
Passive income through crypto is easy to earn and an interesting opportunity to diversify your investments and earnings. With high rates that far outpace what you get from the bank, you may be drawn to the excitement of the cryptocurrency world. If you time it right and your crypto investment increases in value, you are double-dipping with interest and investment gains.
However, there’s also a big risk of losses, and many investors have felt the pain of a cryptocurrency platform bankruptcy and the decline in value of their overall crypto portfolio. Everyone’s risk tolerance and investment goals are unique, so it’s up to you, and perhaps a trusted financial professional, to decide the right balance of crypto-income investments—if any—that makes the most sense for your portfolio.
What Is Staking in Crypto?
Crypto staking is the process of locking up crypto holdings in order to obtain rewards or earn interest. Cryptocurrencies are built with blockchain technology, in which crypto transactions are verified, and the resulting data is stored on the blockchain. Staking is another way to describe validating those transactions on a blockchain.
Depending on the types of cryptocurrency you’re working with and its supporting technologies, these validation processes are called “proof-of-stake” or “proof-of-work.” Each of these processes help crypto networks achieve consensus, or confirmation that all of the transaction data adds up to what it should.
But achieving that consensus requires participants. That’s what staking is—investors who actively hold onto, or lock up their crypto holdings in their crypto wallet are participating in these networks’ consensus-taking processes. Stakers are, in essence, approving and verifying transactions on the blockchain.
For doing so, the networks reward those investors. The specific rewards will depend on the network.
It may be helpful to think of crypto staking as similar to depositing cash in a savings account. The depositor earns interest on their money while it’s in the bank, as a reward from the bank, who uses the money for other purposes (lending, etc.). Staking coins is, then, similar to earning interest
.* This yield rate is calculated based on the average returns over the past 30 days. Yield rates are optimised on a daily basis. Past performance is no guarantee of future results.