By Nathan Ferguson
The pandemic accelerated new models for spending life and earning a livelihood introducing the world to a new digital era. It created multiple opportunities for people to work remotely. Working from home benefited all individuals, especially women, as they thought of earning income beyond their traditional roles of family, child care, and home.
In this article, we will learn how women are actively participating in earning income through cryptocurrencies and how they can earn passive income through crypto.
Increase in Number of Female Participants in Crypto Space
Understanding crypto investments may be a little perplexing for women. However, with dedication and interest, they can earn good capital through it. Crypto holds several opportunities for women to earn passive income that they can utilize as per their comfort. The inception of crypto assets has turned tabled for women as it is aligning the financial and technological spectrums in favor of women.
One can invest for the long term by holding crypto assets; however, it may also depend on the risk profile of the asset. Several opportunities are available for women who want to invest in crypto assets.
Reward Earning Opportunities for Women Through Staking
Staking requires one to lock his holdings in a wallet for a predetermined time and earn rewards. It helps in the validation of transactions and provides efficiency to the system. Moreover, it also ensures that the rules are followed and the consensus is achieved. A few exchanges stake the crypto assets automatically. Therefore, having proper knowledge regarding staking is not always necessary.
Extension of Revenue for Women Through Affiliate Market
Women can promote products and services related to crypto and earn revenue through it. It involves creating awareness among the common public regarding crypto investments. Several companies offer commissions to individuals that participate in the promotion of their products. Women can also play their roles in promoting different trading platforms, resources, exchanges, etc., and earn capital through it.
It allows them to use the existing audience and work at any time to generate revenue. However, one should be cautious about promoting the right products and beware of fraudulent companies.
Earning Passive Income Through Cloud Mining
Investors are not required to buy or install hardware or software to execute cloud mining. Crypto cloud mining allows them to earn crypto assets by opening an account with a mining farm. Investors require to purchase specific hashing power after depositing fiat or digital currency. Miners will be then rewarded according to the hashing power they purchased.
Women can also actively execute cloud mining as it requires no technical skills. Moreover, they do not have to worry about energy expenses and the management of resources.
Earning Passive Income Through Yield Farming
Investors lend their crypto holdings to earn interest or win rewards. Yield farming provides incentives to liquidity providers to lock up their assets. It provides them with rewards in the form of native digital tokens, loan payments, or network charges. The interest earned by the investor is calculated depending on the APY.
Earning Passive Income Through Crypto Saving Accounts
As traditional banks offer saving accounts to customers, crypto saving accounts also allow women to stake and invest in their crypto holdings. They are then provided with specific interest rates over the earned profit. Several exchange platforms offer high-interest rates to women for holding their native tokens.
Earning Passive Income Through Crypto Lending
Crypto platforms allow customers to lend their crypto holdings to other parties and earn revenue through them. It depends on whether the platform pays the interest every week or month. In addition, they also provide compound interest to the lenders. Crypto providers provide high interest, encouraging more individuals to participate.
Conclusion
Women should learn and train themselves about market strategies and procedures before investing. However, women should not consider themselves inferior and put their assets in the economic cycle to generate good capital.