What someone making $20.000/month in passive income has to say.
An insight into crypto income, passion and motivation of the crypto-rich
Introduction
So, as you are probably done reading about my never changing passive income streams I decided to change things up a bit. From now on I will use my platform to talk to other investors who would like to share their experience making passive income on the blockchain. This month we have; Berry! An experienced and long-time crypto investor, active in many dutch communities sharing his opinion and experience with others. What motivates him, and what projects are earning him is $$$? Let’s find out!
Also want to get featured in these stories? Message me on discord: matthijs#2891
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The interview!
1. What projects are you involved in, and what makes them unique?
“I am currently using about 7 income streams that generate passive income. These are trading bots to automate my trading strategy, staking platforms to stake the coins I am holding, and LP yield nodes as a more high-risk high-reward passive income strategy. Some other user-based dApps generating passive income are through a crowdfunding platform with revenue sharing, running a validating node securing a blockchain network, and investing in a Web3-based streaming platform, also with revenue sharing. A project where I am personally involved in is a health-based project.”
2. would you like to share how much (in $) you make per month using these project/income streams?
“It depends on how much the platforms are used, how well the trading and arbitrage bots perform, and what the return of the staked coins are, but everything together I am earning around $20.000 a month.”
3. do you think these income streams are sustainable?
“yes, It obviously depends on the usage of the platforms and the revenue they are generating, but they will always produce income.”
4. Are there project you’ve lost money on?
“I try to stay away from meme coins and high APY reward platforms. They usually promise an unsustainable APR and when you're able to sell your stake the price has dropped so much that you are at a loss anyway. ”
5. What goal/idealogy pushed you to start these passive income streams?
“I started these income streams to give myself the opportunities to be financially independent, so I can start doing what I want whenever I want. To also combine this with projects I can help others with is what drives me to continue searching and improving on passive income streams.”
6. Are there projects you are keeping an eye on?
“One of the projects that I am really excited about is GoCryptoMe (GCME). It's an uncensored and decentralised crowdfunding platform, focussing on the sharing and fair distribution of funds. Other projects are XDR, a blockchain-based NFT game, and Fantom, the next-generation technology. I am also a fan of ADA, especially with the vision of helping people who really need it.”
7. Are there other ways you are trying to generate income using active strategies?
“One of my favourites is the coin-m future feature of Binance! It's a short/long platform where I'm able to trade on the future price of some of the coins I am holding. With the help of technical analysis, I try to daytrade longs or shorts of the coins I'm holding. When successful it is easy to improve your position on these coins. ”
8. is there anything else you'd like to say about your portfolio, passive income ideas, thoughts or advice?
“I would advise everybody to put their money to work. It doesn’t matter if it is for the short or long term, just do it. Even if you only have 100$ invested for the long term, try to stake it or use it as a liquidity provider. Take profit, and reinvest it in projects you think are a good long-term option. Teach yourself how to do technical analysis and how to trade. Be open to the opinions of others and try to learn something from them. Try to find new technologies and diversify your portfolio!”
In the end…
Try to learn from the great minds in crypto and the industry. People with a lot of experience and profitable strategies make better decisions and o their due diligence. Even though it's a bear market there are still a lot of opportunities, they are just not as apparent as you might be used to!
Do you also want to get featured in one of these user stories? Anonymous shilling of your favourite projects and portfolio! Reach out to me on discord: matthijs#2891.
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