Know about crypto currency from us
How to make passive income from crypto currencies?
Here are three most popular ways of making passive earning from crypto currencies:
- Interest-bearing digital asset accounts– There are lot of service providers who allow the users to deposit their crypto and earn from it. This is similar to savings account.
- Lending– It is the process of lending out to someone else in return of fee. The fee charged will depend on the amount, time period of loan and the interest rate. More the amount more will be the income.
- Dividend-Earning Tokens– Tokenized stocks are equivalent to crypto currencies which act as shares of equity in a company.
Is it good to invest in crypto currencies?
Check out the following points to know your answer:
- Unstable source of income– Though in the past 12 years, it has gained popularity but it’s values goes through ups and downs. You have no idea when will its value go down. Maybe some of them are beneficial but you hardly know for how long it will be beneficial.
- People are unaware of crypto currency– Most of the people do not know how the whole process works. The founder of Bitcoin is unknown to all of us. Only few people understand this process and invest in it.
- No guarantee on the return value– Since it is exchanged from person to person there are no set of rules on the return value. Because of this there is no definite pattern of rise and fall of its value. There is no definite planning or enough data to invest in long-term plans.
- Makes easy for the fraud activities– Scammers will do everything to find out their personal information and crypto currency will make it easier for them. It is easy to do fraud without getting noticed.
What do you mean by Crypto currency?
Crypto currencies are digital currencies which are used by the people for online purchases or investments. You can get “coins” or “tokens” in return of real currency. It is a way of trading out your money in new places. You can purchase crypto and use it as real money. One of the great advantages of crypto currency is that it cannot be copied. Each coin or token of crypto currency is a unique line code which makes easier to track and identified. You may have heard from many people of a great way of earning money. It is like a golden opportunity for many of them.
What is crypto currency mining?
It is a process of generating new coins and verifying the new transactions. It includes huge decentralized computer networks across the world to verify and secure the blockchains. It is like a cycle- the miners will take care of the blockchain and in reward of it the computer will offer them coins which act as a motivation for the miners to carry their mining activity and maintain the blockchain. The process of mining is primarily of three types- you can purchase them, get them in return as fees for goods and services, or mine them virtually.
Which is the best crypto currency to invest right now?
Check out the top crypto currency of 2022:
- Bitcoin– It is one of the largest crypto currency and a great opportunity for the crypto investor. It holds a value of $900 billion and accounts 40% of the total amount of the crypto currency market.
- Ethereum– It accounts for 20% of the total market value and is one of the most used block chain in the world.
- Cardano– This was founded in 2017 by Charles Hoskinson and is one of the largest blockchain to run efficiently on proof-of-stake protocol.
What is green crypto currency?
These are environment friendly crypto currency. As per the reports of The Cambridge Bitcoin Electricity Consumption Index, the consumption of electricity of Bitcoin is very high. According to experts, crypto mining involves huge electricity consumption which involves usage of coal. Thus, a doubt arises on the sustainability of this industry. This issue is increasing day-by day and requires special attention. Participating countries should put in efforts to reduce harmful effects of it. The only way of survival of this industry is to make energy-efficient ways to maintain blockchain transactions. Thus, green crypto currency can help in sustainability of the industry.