Can I get to a position where I don't have to work anymore?
This is a question I've been thinking about for a while now!
This recent and sudden rise in cryptocurrencies these last few months really got me thinking it could be quite possible.
Steem is on the rise, our accounts have risen considerably the last 2 weeks and are constantly growing from posting quality content.
I can see it quite possible I could be making $100 dollars a week from steemit, there's already people exceeding this!
I currently hold a nice amount of nem which the price is nicely rising, I'm also harvesting nem and earning small amounts here, not a great deal at the moment but if the price doubles even, it's roughly $30-50 dollars a week.
I've invested in 1.5 VIVA crowns (50/50 with my mother) which if they can deliver on what they want to achieve and it takes off will end up being quite a considerable addition to my passive income.
The last thing I'm doing to try fund my passive income is I've purchased a few TH of bitcoin cloud mining from Genesis Mining, which I plan on reinvesting all back into it to build up more hash power over the next year.
By the way here is a code for 3% off with Genesis Mining iRI47z
I do plan on investing in more interesting currencies once I get more funds together and i'm sure more interesting earning crypto projects will be coming out in the next year or so.
So do you think it's possible that in a years time ill have a full passive income to live off or at least a passive income equal to my current income just from crypto?
This is my plan that by next year I'm equaling my current income passively.
Possible or wishful thinking?
Totally possible and you want to spread it around. Got some NEM too, but you obviously have much more. I have a couple good staking coins and have moved a bit of money in to have some voting weight on my Steem account. I think if you can pick a few good Crypto's that earn you rewards then you absolutely can and this won't be uncommon in the future.
It is something I see very possible especially if crypto keeps going as it is, and I do believe it will.
I think it can be possible if you start now but even half a year later and will be too late.
I agree about the staking coins. It's a very cheap way to gain income as opposed to expensive mining contracts.
I must definitely look in to staking coins. Think this will be my next research into my plan
You should. It's mining "staking"...on steroids. And you want to get in before the masses do. Good luck:)
Which are the best staking coins?
Caveat Emptor: I've tried PIVX, Pink Coin, BitBean, Espers, 1337, Inflation Coin just to name a few. Again, careful and diversify.
Thanks ill look into them
Try to stake CLAM on BTCPop. BTC Pop has a nice staking pool.
Clam had also price increases in the last 6 months.
I did not know viva crown. Thanks for sharing.
I upvoted and I am following you.
Read about it here
https://vivaco.in
Very interesting stuff, download the white paper.
The ICO has just finished though so if your looking for a crown now they are 5 times the price they were 3 weeks ago
Yes, it can be done. If you make reasonable trades on the exchanges you can get a 10% return on your money monthly. So you need about 30K to make about 3K a month. Although, you'll probably make more than that when you add in price increases, but that may change too.
I'm not a huge fan of trading, I've given it a go and never been very good at it
Thanks