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Enjoying the ride with the bear this recent crash?
Of course not, we are in so much pain. But the crypto space always has many ways to protect our profits from the market crash. You just need to explore this space and look for platforms that will give you passive income amid the market crash.
Volatility has been part of this crypto world and we can't avoid it to happen and the temporary plunge really put tensions high among crypto investors and even among institutional supporting cryptocurrencies.
Our crypto portfolios already have more than 50% loss, whether you have small or huge holdings, just base it on the recent market status. But we can't just let the bear take all our hard-earned crypto assets so we need to find ways to still earn despite this saddening market crash.
How to get profits amid a market crash?
It's quite tough to earn through trading nowadays unless you're a scalp trading expert. And I guess even a Day trader will find it hard to look for the right entry and exit in a bloody trading arena. The following market trend is quite difficult to predict as it is too volatile and risky. So the best way to protect our assets is not to trade but just hold them until the market recovers.
However, we can still earn some profits despite the bloody situation with the help of Decentralized Finance.
Decentralized Finance platforms provide us opportunities to earn passive income effortlessly by simply leveraging the existing crypto capital.
There are ways to earn passive income in the DeFi ecosystem:
Staking and Lending/Compounding
Yield Farming and Providing Liquidity
Here are my ways of earning passive income despite this market crash.
NEXO CRYPTO LENDING/COMPOUNDING
Nexo and other lending/compounding platforms like Blockfi, Celsius, and more, help us protect our crypto and leverage no matter the volatility in the crypto market. Despite the market crash, we can still enjoy the uninterrupted passive income from these platforms and earn the same high yield on savings, up to 8% daily interest on our cryptocurrencies and up to 12% interest on stablecoins.
Here's my one-week interest earned from May 10-16.
Since I have transferred the assets from my savings account to a fixed-term account and only withdrawable after a month, I can not provide the exact earnings for last week. This isn't bad at all because, despite the market crash, I am still earning daily interest from the BCH and ETH I have deposited on the platform. The earned interest is compounding so they will be added to your capital and earn interest from them. The longer you lend your assets, the higher the profit.
To know more about Nexo lending/compounding, visit this article below.
Earn While You Sleep With Crypto Compounding
CRYPTO STAKING
There are different DeFi platforms good for crypto staking such as PancakeSwap, Harvest Finance, Beefy Finance, BakerySwap, SushiSwap, CubFinance, and more, and even crypto exchange platform like BINANCE also allows its users to earn profits while holding their assets on the platform.
In Crypto Staking, I have chosen PancakeSwap and Binance to stake my CAKE and other assets. PancakeSwap is the top DeFi platform under the BSC chain for yield farming and staking. Meanwhile, Binance is a top crypto exchange platform where I am holding some of my assets for easy trading and staking.
At the time of writing, I already have 0.638 CAKE profit from CAKE Auto Pool but the APY decreases from $148% to 136%, maybe due to the crypto market crash. But at least, my CAKEs are accumulating profit every day and will grow over time.
Related Article: Adding Assets To Liquidity Pool Again And Trying The Cake Auto Pool
Moreover, you can hold your assets on the Binance Savings account to earn daily interest and you can also try their DeFi staking to earn up to 25% annual return. You can either chose Flexible or Fixed Savings, or Locked Staking and DeFi Staking. Meanwhile, you can place your BNB on the vault to accumulate interest and new tokens from the launchpool.
To know more about earning passive income on Binance, check this article.
Earn While Holding Crypto on Binance
YIELD FARMING AND PROVIDING LIQUIDITY TO THE POOL
The aforementioned DeFi platforms for crypto staking also allow you to provide liquidity to the pool and earn high yield interest.
However, providing LP is quite risky nowadays since the market is too volatile and crashing. But there are DeFi platforms that allow you to use stablecoins instead. During this market crash, don't dare to provide LP using volatile assets because you will just gonna have a huge impermanent loss. Especially that we are not sure yet when the market will recover from this extreme market crash.
I have provided LP on Cub Finance using CUB and a stablecoin - BUSD. Choosing stablecoins will prevent you from getting huge impermanent losses on a volatile market. The CUB-BUSD LP currently has $1.3M Liquidity and 241.67% APR which is still quite high, even though it decreases from 293% at the time I have provided LP to CubFinance pool.
At the time of writing, my LP tokens already earned 15.792 CUB despite the plunge of CUB's price from $3+ to $0.872.
Aside from these DeFi platforms, we can also earn from crypto mining despite the volatility of the market.
One of the best platforms for crypto mining using mobile phones is Stormgain, a crypto leverage platform that allows you to earn crypto through mining, and the mining rewards can be used for live leverage trading. And so far, I have already converted 0.07431343 BCH from my trading profit on Stormgain.
Check this article for more info.
Saving Bitcoin Cash Through Stormgain's Trading And Mining
Closing Thoughts:
Even though portfolios from these platforms are down, but the profits are still continuous amid the market crash. We should not let the bear stop us from earning because there are many ways to profit from this bear market. If you are not afraid of trading, then take advantage of the volatile market. But if you are practical and want a safer method, then better put your assets to work using some trusted DeFi platforms where you can earn daily interest without any complicated tasks involve.
Related Article: Earn More Crypto Without Trading
At the time of writing, the market was turning green. For some who bought on the dip, it's their great opportunity to place sell positions and take some profit from the bull. And rebuy when the trend goes down again. That's how you will earn profit from spot trading.
