Crypto to hold

The tech giant is letting users keep crypto in its digital cards through a partnership with Coinbase and Bitpay. Google is testing the waters with bitcoin as cryptocurrency starts to become more widely adopted. The tech giant is enabling digital cards that store cryptocurrencies to be used on Google Pay, through partnerships with Coinbase, BitPay and Gemini, the company said. The news was earlier reported by Bloomberg. Customers won't be able to directly spend in bitcoin, however. Transactions on Google Pay will still be in fiat currency.

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Content:

• Ethereum Remains Stuck Below $3,000. Here’s What That Means for Investors
• These are the countries where cryptocurrency use is most common
• Bitcoin Is Way Down From Its Latest All-Time High. Here’s What Investors Should Make of It
• What is cryptocurrency and how does it work?
• Union Budget 2022-23: Taxation doesn’t spell legitimacy for crypto
• What does 2022 hold for the future of cryptocurrency?
• Why is crypto down so much? Uncertainty in traditional markets and Fed concerns, experts say
• Frequently Asked Questions on Virtual Currency Transactions

WATCH RELATED VIDEO: 5 Top Crypto to Buy NOW in 2022 (Massive Potential!)

Ethereum Remains Stuck Below $3,000. Here’s What That Means for Investors

Passive income is money generated from ventures in which an individual is not actively involved. For the most part, all you need to do is invest your money or digital assets in a particular crypto investment strategy or platform and watch it generate profit.

In some cases, the earnings are fixed and predictable. In others, several factors beyond your control may come into play. Such investors are ready to go the distance as this long-term strategy might require them to hold their positions anywhere between six months to five years.

Through the duration of this investment, an investor does not have to be proactive in the crypto market. They only need to buy the digital asset and store it in a secure wallet — preferably a non-custodial wallet.

However, simply buying and holding a crypto asset for any length of time does not guarantee you will make a profit. As such, exclusively HODLing crypto cannot be considered a truly passive income generator. Proof-of-stake is a type of blockchain consensus mechanism designed to allow distributed network participants to reach an agreement on new data entering the blockchain.

Note that blockchains enable open and decentralized networks where participants contribute to governance and processes involved in validating transactions. This is critical because such a community-focused approach eliminates the need for central authorities like banks. In most cases, blockchains randomly pick participants, elevate them to the status of validators and reward them for their efforts. The systems used to pick validators vary from blockchain to blockchain.

Some blockchain networks require users to deposit or commit their financial resources to the network. Here, the blockchain selects validators from a pool of users that have staked a specified sum of its native digital asset. In return, validators earn interest on the staked funds for contributing to the validity of the network. This validation mechanism is what is called proof-of-stake.

It provides an opportunity for holders those in it for the long haul to generate passive income. Knowing fully well that transaction validation might be technically tasking, you could opt for PoS blockchains that allow you to delegate your stakes to other participants who are ready to take up the technical requirements of staking. Understandably, the reward distributed to validators is slightly higher than that of a delegator.

Some of the PoS blockchains you could consider are:. For even more convenience, you could adopt one of the several staking services available today. With these platforms, you can deposit a fraction of the number of digital assets required by the blockchain.

For example, you normally have to deposit a minimum of 32 ETH on the Ethereum 2. With a third-party Ethereum staking service, however, you could deposit as little as 5 ETH to start accruing interest. Holders can take advantage of interest-bearing crypto accounts to earn fixed interest on their idle digital assets.

Think of this as putting money in an interest-earning bank account. The only difference is that this service supports only crypto deposits. Instead of holding digital assets in your wallets, you can deposit them in these accounts and receive daily, weekly, monthly or yearly earnings, depending on the predefined interest rates. Crypto service providers that offer such products include:. Lending has become one of the most popular crypto services in both the centralized and decentralized segments of the crypto industry.

As an investor, you can lend your digital assets to borrowers for a chance to earn interest. There are four main lending strategies you could opt for:. Peer-to-peer lending: Platforms that provide such services enable systems that allow users to set their terms, decide the amount they want to lend and the interest they intend to generate on loans.

The platform matches lenders with borrowers, similar to how P2P peer-to-peer trading platforms match buyers and sellers. Such lending systems provide users with a certain degree of control when it comes to crypto lending. Centralized lending: In this strategy, you rely solely on the lending infrastructure of third parties. Here, the interest rates are fixed, so are the lock-up periods. Like P2P lending, you have to transfer your crypto to the lending platform to start earning interest.

Decentralized or DeFi lending: This strategy allows users to execute lending services directly on the blockchain. Unlike the P2P and centralized lending strategies, there are no intermediaries involved in DeFi lending. Instead, lenders and borrowers interact with programmable and self-executing contracts also known as smart contracts , which autonomously and periodically set interest rates.

Margin lending: Lastly, you could lend your crypto assets to traders interested in using borrowed funds to trade. These traders amplify their trading position with borrowed funds and repay the loans with interest.

In this case, crypto exchanges do most of the work on your behalf. All you need to do is make your digital asset available. Unlike the proof-of-stake mechanism explained earlier, some blockchains, including Bitcoin , opt for a more computer-intensive approach where users need to prove the eligibility of their claim to become validators more commonly called miners by competing against each other to solve highly complex mathematical puzzles.

This process is called crypto mining. Due to the competitiveness of this consensus mechanism, miners have to invest in powerful computers and pay exorbitant electricity bills.

Undoubtedly, this venture is time-consuming and technical. And so, investors often opt for an alternate approach called cloud mining. With this, you can pay third parties to take up the technical aspect of crypto mining on your behalf. In essence, you pay a platform that offers such services a lump sum to rent or buy mining machines from their mining facilities. After this first payment, you might have to pay a daily maintenance fee so that the cloud mining service provider can help you manage your mining rigs.

As exciting as this sounds, it comes with lots of risks. Cloud mining has been a subject of controversy ever since it became widely adopted. There have been several cases of scams due to the remote nature of this mining venture. Therefore, you should carry out due diligence before opting for this option. Certain tokens offer holders a fraction of the revenue of the company that issued them.

The number of tokens you own determines the share of the revenue you would receive. The amount received is proportional to the amount of KCS tokens each holder stakes. Yield farming is another decentralized, or DeFi, method of earning passive crypto income.

This is made possible by the dynamic operations of decentralized exchanges, which are basically trading platforms where users rely on the combination of smart contracts programmable and self-executing computer contracts and investors for the liquidity necessary to execute trades. Here, users do not trade against brokers or other traders. Instead, they trade against funds deposited by investors — known as liquidity providers — into special smart contracts known as liquidity pools.

In turn, liquidity providers receive a proportional amount of trading fees from the pool. To start earning passive income via this system you first have to take up the role of a liquidity provider LP on a DeFi exchange such as Uniswap, Aave or PancakeSwap. To start earning these fees, you have to deposit a specified ratio of two or more digital assets into a liquidity pool.

Once you deposit liquidity, the decentralized exchange will transfer LP tokens representing your share of the total funds locked in the liquidity pool. You can then stake these LP tokens using supported decentralized lending platforms and earn additional interest. This strategy allows you to earn two separate interest rates from a single deposit. The crypto passive income opportunities listed in this guide are just some of the many ways you can make extra profit with your idle digital assets.

Note that none of these opportunities are risk free. Hence, it is advisable to carry out your own research, seek professional guidance from a qualified financial advisor and determine what best suits your investment goals. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights , which vest over a multi-year period.

CoinDesk journalists are not allowed to purchase stock outright in DCG. Andrey Sergeenkov. Andrey Sergeenkov is a freelance writer whose work has appeared in many cryptocurrency publications, including CoinDesk, Coinmarketcap, Cointelegraph and Hackermoon. By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our terms of services and privacy policy. Top 6 Crypto Passive Income Generators for A wallet is a device or app where you can store a special key private key that gives access to your cryptocurrencies.

The non-custodial variants let you store the private key in your personal devices, including a computer, mobile phone or purpose-built wallet devices. With this, you have complete control over your private keys and, ultimately, your digital assets. By comparison, with a custodial wallet, a third party controls your private keys. Ways to earn passive crypto income. Proof-of-stake PoS staking. Piggy bank crypto Getty Images. Ethereum 2. Interest-bearing digital asset accounts.

Celsius Network. Cloud mining. Dividend-earning tokens. Yield farming. This article was originally published on Oct 5, Follow Nikopolos on Twitter. Sign Up.

These are the countries where cryptocurrency use is most common

Cryptocurrency, sometimes called crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units. Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. Instead of being physical money carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database describing specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. Cryptocurrency is stored in digital wallets.

Bitcoin Is Way Down From Its Latest All-Time High. Here’s What Investors Should Make of It

Currently, investing in long-term cryptocurrencies is very simple and profitable, but it is important that you know about the market before investing. Cryptocurrencies are a virtual form of money. Many trending cryptocurrencies are currently on the market, and over the long term many of these assets have appreciated in value radically. Some of these core assets have a market capitalization in the billions of dollars, and we will focus on the largest cryptocurrencies by market capitalization. This type of investment in crypto is when you expect its price to increase over time — usually an investment that must be maintained for a minimum of 6 months to 1 year. In some cases, long-term crypto investors plan on holding their investments for multiple years. Investments can be made in parts, and dollar cost averaging is a great strategy for many investors. Historically it works. Over 5 years, some indices show similar rates of return.

What is cryptocurrency and how does it work?

While tokens like bitcoin and dogecoin have different levels of technological development and scarcity , both saw strong growth in , along with other top coins. All prices are as of p. But take it with a grain of salt: When it comes to crypto, remember that past performance is no guarantee of future returns, and experts caution investors to put no more money into cryptocurrencies than they are comfortable losing. If you do decide to get into crypto, consider not making a large purchase all at once, but instead dollar-cost averaging by spreading it out into smaller purchases over time.

Union Budget 2022-23: Taxation doesn’t spell legitimacy for crypto

Passive income is money generated from ventures in which an individual is not actively involved. For the most part, all you need to do is invest your money or digital assets in a particular crypto investment strategy or platform and watch it generate profit. In some cases, the earnings are fixed and predictable. In others, several factors beyond your control may come into play. Such investors are ready to go the distance as this long-term strategy might require them to hold their positions anywhere between six months to five years.

What does 2022 hold for the future of cryptocurrency?

Bitcoin achieved a remarkable rise in in spite of many things that would normally make investors wary, including US-China tensions, Brexit and, of course, an international pandemic. So what has driven this huge price appreciation and is it different to the bubble of ? Read more: Why is Bitcoin's price at an all-time high? And how is its value determined? One reason for the massive price rise is that there has been a big influx of investors from large-scale institutions such as pension schemes, university endowment funds and investment trusts. This time, big names such as billionaire investor Paul Tudor Jones and insurance giant MassMutual have invested heavily, while even former naysayers like JP Morgan now say that bitcoin could have a bright future. This all helps to increase trust in the cryptocurrency and indicates that it is becoming more mainstream. Bitcoin has also been backed by a few large consumer-facing payment names.

Why is crypto down so much? Uncertainty in traditional markets and Fed concerns, experts say

Cryptocurrency has an impact on economies. One month into and the debate on cryptocurrency is already heating up, with calls for regulation causing a rift between jurisdictions that are "crypto friendly" and those that aren't. Russian Deputy Prime Minister Dmitry Chernyshenko has reportedly signed a roadmap to regulate crypto operations in Russia.

Frequently Asked Questions on Virtual Currency Transactions

RELATED VIDEO: 5 Best Cryptocurrency / Altcoin To Hold Long Term 2021/2022/2025 🚀🚀🚀

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Over the past week, the cryptocurrency market has experienced massive drops, reaching lows not seen in months. Nick Casares, head of product at PolyientX, a platform for nonfungible token projects, said the landscape of crypto was originally decoupled from the traditional economy, but that has changed dramatically. A nonfungible token, or NFT, is essentially a piece of data that verifies you maintain ownership of a digital item, from a piece of artwork to a clip of a game-winning shot in an NBA game. Cryptocurrency drop: Bitcoin, Ethereum among cryptocurrencies losing value amid investor uncertainty. And when that happens, it tends to create a coupling between traditional markets and the crypto market.

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