My dream of financial independence can be summed up with two words - passive income. The goal is to have a steady stream of income that replaces the income from my employment. The more I learn about crypto, the more potential passive income opportunities I find.
Below are my income results for the month of August with a few short thoughts for each category. Please note I am by no means a crypto whale. I am just getting started with staking and passive crypto income, so I am proud to be a sardine.
Staking
Tron - Staking rewards from freezing and voting for a Tron Super Representative = ~25.5 TRX
I currently vote for a trio of community Super Representatives on the Tron network. Rewards are paid automatically, which is great. The above number does not include certain TRC10 and TRC20 tokens, such as Klever and BTT, that are sometimes paid out as part of staking rewards (even these small tokens may add up over time).
Tezos - Staking rewards for baking my Tezos = ~0.08 XTZ
Tezos was my first staking coin, or baking in this case, and it pays every 3 days. Baking XTZ is probably the easiest coin I've found to stake because it automatically compounds compared to others where you sometimes have to claim and manually refreeze/delegate/stake. Part of the work initially is finding a baker that meets your needs in terms of payout, fees, and reliability.
Cosmos - Staking rewards for delegating my ATOM = 0 ATOM
What??! 0?!? This is more about how I do the accounting. Because collecting a reward and restaking the reward would both include a fee, I am waiting for my reward to be higher before I go through this process so that most of the amount does not get eaten up by fees. Furthermore this last month I moved around and consolidated my holdings, so I had to unstake a huge chunk which means I had to wait 21 days before doing anything (including getting rewards). It's unfortunate that it is so low/nonexistent, but it should put me in a better position next month. As it stands, I have around 0.02 ATOM* waiting to be withdrawn.
Dapps, Faucets, and Apps
Dividends - A number of Dapps within the Tron ecosystem pay dividends from their earnings. I have a small but growing position in WIN and DICE, and a recently created position in LIVE and 888. WIN, DICE, and LIVE are all part of the same ecosystem and pay out automatically while 888 has to be manually claimed.
From WIN, DICE, and LIVE = ~20.4 TRX
From 888 = ~0.9 TRX
These Dapp dividends do fluctuate day to day and week to week, but I'm not complaining.
Brave - 21.75 BAT
Brave is pretty straightforward - you are rewarded with BAT for viewing ads on the browser while also blocking tons of cookies and other ads that are normally everywhere. Looking back, this was way higher this month on desktop and lower on mobile. We'll see what happens next month.
Faucets and Apps - I strongly dislike faucets, but there are a couple that pay with ease (Note: some are tedious and I do not consider them to be passive)
GlobalHive = 0.000296 ZEC
Instant withdraw of ZCash is appreciated vs waiting to hit a certain minimum that I might never reach like most faucets. I started with this faucet later in the month, so I'm hoping to grow this going forward.
Fold App = ~140,000 sats
The FOLD app gives a certain percent back in BTC when buying gift cards and also includes a "wheel" you can spin daily for a bonus. I find the app to be awesome, especially if it is for something you are already buying like Amazon gift cards.
Looking ahead to September I am hoping to build my current positions and add to relatively new positions like Klever (Tron token) and Cardano. If anyone has any thoughts or suggestions on where to look next, I'd be happy to hear them! I know my passive income portfolio isn't much, but it's a start and a journey I'm happy to be on.
Finally, thank you for reading and thank you to this great community. I appreciate the amazing work and research that so many of you do and I of course appreciate any feedback and comments that any care to share. This is not financial advice or a recommendation, but an attempt to start a conversation.
