Earning income without trading is a relatively new opportunity in the crypto space. Today, earning a profit in crypto is not just limited to trading, and numerous platforms and protocols exist that help you in this regard. In this post, we are going to introduce some of these platforms and teach you how to use them. Have you ever experienced any of these ways? Which one do you find more attractive?
Have you ever entered long and short positions and lost all your assets?
Do you have the irritating experience of getting liquidated?
Do you like to earn profit from cryptocurrencies but think you’re not good at technical analysis?
The good news for you is that trading is not the only way to earn profit from cryptocurrencies!
Today, several solutions exist that you can use to earn profit from your digital assets, without being forced to check the prices every minute.
The first such way is “staking”.
Staking means locking or “staking” your cryptocurrencies in a proof-of-stake blockchain platform or protocol. These locked assets are used to secure the network. As a reward for playing a role in the protocol’s security, the protocol pays you a certain amount of interest.
It’s actually like holding your fiat money in a long-term deposit account and earning interest.
The second way is to lend your cryptocurrencies. Crypto lending platforms are very popular today. You can lend your cryptocurrencies to other users and earn interest instead. Aave, Curve, Compound, and MakerDAO are among the most popular crypto lending platforms.
The third way is to provide the liquidity of decentralized exchanges. Since decentralized exchanges are not owned and controlled by a single authority, their liquidity is provided by their own users. Of course, these users earn a certain amount of interest. Uniswap, Curve Finance, Balancer, Bancor, and SushiSwap are among the best-known decentralized exchanges.
And the last way is to play blockchain games. Blockchain has completely revolutionized the gaming industry. These so-called “play-to-earn” games pay their gamers with tokens that have real value and can be traded in crypto exchanges. So, they are great options for people who love gaming and spend a lot of their time playing games. Axie Infinity, Decentraland, the Sandbox, Star Atlas, and Gods Unchained are just a few examples of this growing industry.
If you’re interested to buy Bitcoin in Dubai, one of the options available is to use the Cryptodesk exchange. Cryptodesk is a popular cryptocurrency exchange that allows users to buy, sell, and trade various digital assets, including Bitcoin.