Making Passive Income With CryptoCurrency

Making Passive Income With CryptoCurrency

hey good evening everyone Doxey Kherson with you here from reading second crypto like to welcome everybody for attending our presentation tonight creating passive income 10 steps to creating passive income with cryptocurrency so welcome aboard everybody kind of curious as to where everybody is coming from if you don't mind we actually have people from two different polls here we have people coming in from GoToWebinar and we have people coming in through YouTube live so we have a couple of different audiences out there we'll try to keep track of where everybody's coming in from so okay so we have El Paso Texas coming in tonight welcome aboard Ricardo all right so let me know where you guys are coming in from and it's going here so Fayetteville Arkansas British Columbia Dallas Fort Worth Orlando Florida Long Beach California Houston alright okay without further ado I'm gonna get going here do want to remind you that this is our standard risk disclosure and guys you know if you don't treat this like a business if you treat this lab like a hobby it's gonna be the most expensive hobby that you can imagine so don't do this because this will rob all of your money if you don't treat this as a business so enough said okay Who am I I'm not to start tonight but I'll talk to you at least to beginning I've been doing trading education since 2005 so I've been helping people in one form or another one instrument or another for the past 13 years I've been trading for the past 22 years and as you might imagine there's a lot of volatility in the last 22 years just about seeing everything alright I am one of the cofounders of a set crypto it's my honor to do that I'm also written a book some of you have gotten this book before it's called hacking the Holy Grail it's available on Amazon the whole point of the book is that everybody thinks that there's a holy grail of trading if they get the right strategy it's actually between your ears and our presenter tonight is going to be Mavs Severson good-looking fellow their financial transactions banking tech expert computer science background he is a youtuber with a mission to teach crypto again another co-founder of ready said crypto and we have an Eagle Scout so you know he's telling the truth and he did quite well in 2017 and kept a lot of that so tonight's agenda is gonna be fairly simple part one some of you may not know what passive income is and so we're gonna do just a couple of catch-up slides on that what is passive income part two ten methods of creating passive income so we're gonna get right down to the nuts and bolts and talk to you about how to create passive income through crypto and then of course we're going to take your questions at the end of tonight okay so with them what's in it for me what will you gain from this what are you going to lose by giving up or one hour of Netflix and catching up on gain of the Thrones a better understanding of some of the alternative instruments available to you in crypto besides just Hottel which is what everybody knows right a definition of some of the terms that you may have heard before and don't really understand okay so alternatives to pursue for your own game as well – so our job is to make you aware of them and it will be up to you to decide how quickly you want to fill those gaps so we're gonna you're gonna see some gaps in your knowledge base tonight and you have to figure out how how quickly you want to fill those so I'd like to do a quick shout out to our Premium Members these are folks that are out there that are receiving our premium newsletter every night and we actually do we've been doing the last couple of weeks a special race live livestream for those folks and so having a lot of fun doing that so again our goal is to share some guidance and ideas on how to create passive crypto income in today's hostile environment we'll be talking for about 40 minutes or so 30 40 minutes and we haven't timed this before but that's usually how long this takes and then we'll get into your question so please do me a favor do MAV a favor it's we just can't stop to answer questions as we're doing the presentation it just doesn't make sense I've tried to do that before because we want to help people we want to stop and answer questions but trust me if we do that we'll never get done tonight so hold onto those write them down if you have to capture those and then when the time is right let it rip we'll let you know when we're going to take questions so one last thing here please do us a favor again don't we're not allowed to really comment on your portfolio or anything like that so the sec prevents us from dispensing advice on your portfolio even though you may be hurting right now like everybody else tonight's topic is about passive income and so without further ado here is tonight's coach Mavs hey everybody how's it going so glad I could be here tonight to talk to you guys about passive income I think this is gonna be kind of fun it's gonna be pretty quick there's you know passive income really isn't a complicated topic but I think it's one of the most important sought-after things in the world because it's the vision right it's the idea of being able to be on a beach in Mexico and oh the money is rolling in and you don't have to do anything you're sipping your pina colada I mean that's what I think of when I think of passive income so what's really cool about crypto is that there is an explosion of opportunities for you to be able to take advantage of this to gain some passive income as well as active income you know III think crypto has really changed a lot of the paradigms as it relates to making money online and you know there's such a stigma behind that you know being your own boss and being capable of you know making money just by your investments your time your capabilities so we're gonna go over ten methods that I think are pretty good for for passive income as it relates to cryptic currency some are a little bit more active than others some require a little bit more technical know-how you know upfront investment that sort of thing so we'll cover some of the granular points about them but hopefully you walk away from this webinar with sort of a sense of what it takes to start to diversify your income streams I think one of the most important things I have to stress tonight is that if you're out there and you're working a job especially a job that you hate and you know it's it's day-to-day you're you're pushing papers you're doing the nine-to-five thing and you're just not happy with it I think passive income is a way to get back some of that time that's being taken from you get back some that purpose that you need in your life so that you can start to be less reliant on that dead-end job that you hate I think the most important thing that I can stress to you is maybe this isn't even true but I like to share it anyways the average millionaire has seven streams of income be that active or passive most likely passive and one of the key things that separates a rich person from a poor person is that rich people know how to use leverage they know how to use other people's time they know how to use other people's brains and they know how to use other people's money so that's what I'm trying to present to you tonight the opportunity to really take your financial freedom into your own hands by using different opportunities different income streams so that you can start to chip away at those financial burdens you have or the dreams you have be that a car a new house you're paying off student loans that's you know personal to me or just you know like I said being on a beach in Mexico whatever it is you are looking for I think crypto has something for you and of course this is right in the middle of a bear market so everybody's going to be skeptical of you know what it is we're doing here and the different methods were employing but I think when it comes to this space when it comes to the investment horizons that I usually recommend to people I say that at a minimum you need to be looking at five years out in terms of your investment horizon you need to be looking at this space with a minimum of five years so that you kind of temper your expectations in the right way so that when we're going up and down because of ETF stuff and China this and all this other stuff that you're not as surprised or you know taken aback by how the market moves because this is a hyper market it's going to move in a lot of different ways and if you're stuck in trying to figure out the different my new show of what's going on down here today you're gonna be constantly disappointed you're gonna be constantly in a state of man my black folio is down 90% I hate this now you need to be looking at this from a long-term perspective and part of doing that part of helping you to make it through times like these is finding different ways to make income make positive income streams while even when the markets down or going sideways you're still making money I think that's extremely important and extremely compelling so to that note let's first really quickly talk about some of the different scams and schemes we might come across because I think that is sort of the first step the first thing you need to look at before you even get close to talking about any of this stuff is making sure that you're not getting taken advantage of be that by some ico or some sort of Ponzi scheme or sort of phishing scam or something like that I think so many people have the right intentions and the right enthusiasm for this space and they get in and they just do all the wrong things because they let their you know ignorant and just newness to the space overshadow their you know enthusiasm and so they get taken advantage of and it's really sad to see and I see it happen every day so make sure that's not happening to you and if it did happen to you see what you can learn from that experience so that you can move forward and put it behind you because you know that's the unfortunate reality of this space right now is that it is an unregulated market it's going to be a little bit tough to make sure that you have all your ducks in a row that you're not going to be taken advantage of that people aren't going to take advantage of you and you know steal your private key or anything like that make sure you're not jumping into something that seems too good to be true I think that's what it really comes down to is that if you hear about a new opportunity if you hear about a new method if you hear about something that is exciting you know people are pumping it up or whatever take the time really try to find some opinions just think through what you're doing it's your money that you're putting into this the people can't compel you to do something with your money you're the ultimate arbiter of what is going to happen with that money your money that you worked hard for so make sure that whoever is taking your money whoever you're investing in that they're working for it that they deserve it make sure you take the time to really research and understand what you're investing in and I think that will help you prevent 90% of scams and other sorts of schemes and theft and whatever I taught a whole course on security so if you really want to get into that sort of stuff as well how to protect yourself against people who are gonna try to hack you or you know fish your password or whatever that is also very important but I think the most important thing as it relates to making sure that you stay profitable that you stay you know engaged you know part of the space is making sure that you just take the time ask the right questions make sure your mind is in the right place as well as your heart and make sure you're not trading solely on emotions make sure you're making rational decisions so that you know I I don't want to see you guys get burned because someone took advantage of you you invested in the next bit Connect or something like that and then suddenly you're disgusted with this base you don't want anything to do with it and that would be so unfortunate because there's so many opportunities here there's so many chances for you to really elevate your means of income and all the different things that are going on here and it's just the exciting space so falling victim to something like that would be really unfortunate so I don't want a harp on this point too much but I want to make sure that it's the first thing we start with to make sure that everybody is on the same page here that you know we're all in the same level but yeah let's get into some of the the ways that we can start making money passively with crypto so one of the easiest may be still kind of developing ways we can look at making money passively with crypto is sort of data or performance sharing and so what I like to say what I've heard is that data is the new oil and this sort of economy that's starting to grow and you know everything is information based as well so I think part of that is finding ways to utilize that finding ways to take advantage of something like SIA coin syuko and I'm not really sure how that's pronounced and that will harddrive mine your computer or you've got file coin or Gollum Network these are pretty easy ways to just get started with taking advantage of storage space or extra performance on your computer that you're not using these aren't gonna blow your mind in terms of how much passive income you're gonna receive from these and maybe they're not even worth it but it's a good foray into what passive income is it's utilizing resources it's doing things kind of behind the scenes that you don't even really realize that you're doing as a way to augment your into income so I think it's really kind of it's a cool thing to think about I think this space the the data performance sharing kind of model is gonna get better as they start to you know really develop their systems as they start to come out with more features and that sort of thing but for right now it's it's still sort of a beta prod they're still sort of figuring it out but yeah in time I think they they do have the potential to possibly disrupt some bigger players out there and it should be interesting to see how they develop so that's a really easy one maybe about that huge and not that mind-blowing but you know it's it's definitely worth sharing so the next one is gonna be funds and specifically when I talk about funds I like to talk about you know index funds and how they're statistically modeled to sort of try to beat the market one of the ones I like to highlight is crypto 20 which takes an index fund a weighted index fund of the top 20 coins out there and it basically tries to there's some methodology and how it rebalances but for the for the most part it's just trying to beat the market so we can see here it for the most part has beaten Bitcoin for the better part of the year it only recently has lost the Bitcoin but I think that kind of takes a lot of the guesswork out of the investing game and yeah it maybe investing isn't the most mind-blowing passive income stream that you've ever heard of it's pretty standard I think that's what most of us are engaging in today but I think it's finding different ways to to invest that's what gets kind of interesting that's where you can start to make a little bit more money or you know diversify away from risk I think that's one of the most important things you can do for yourself is if you're all in on one coin yes maybe that's gonna work out maybe you're gonna get that moonshot coin and you're gonna make a ton of money but more often than not you're gonna find yourself disappointed when your portfolio is dictated by one point because that's all you've invested in so something like crypto 20 or the coin based index fund which isn't available to retail investors just yet but you know it's out there and something like economy have these digital asset arrays which are basically funds yeah these are all different ways to sort of diversify into different funds diversified into different coins and let them do sort of the hard work for you what I have to stress is that you're not owning the underlying assets and these funds so just bear that in mind if that's important to you if that's important that you have the funds that you own the private keys so that you own the crypto that's what you want this is not for you but if you really just want to take the guesswork out of investing if you're scared of something with regard to security and people stealing your funds and stealing your private keys and you don't want to manage wallets and all that other stuff then maybe this is a compelling op option for you you know if you don't want to have to rebalance your portfolio on a quarterly basis and use index levels and all these other things this might provide a little compelling alternative to just trying to build your own portfolio so again this is kind of an easy one not very mind-blowing but you know it is kind of an easy way to sort of augment your income through you know passively looking for opportunities so next we're gonna talk about proof of work or mining and so this is one that I feel a lot of people are excited by or like the idea of but once they actually get into looking into what it entails there's so much information out there there's so much to learn there's so much to understand that they get overwhelmed and they're like okay nevermind that's thanks for sharing I'm gonna go do something else I think at its heart mining is really an interesting and compelling way to passively make income but it does require an upfront investment a significant upfront investment and you also have to actively manage it it is not fire-and-forget you do have to do a lot of work when it comes to mining because these it's tough you really have to make sure that everything's running and that you've you're properly cooled your system and there's you've constructed your system in the correct way and all these different things there's so much to understand it's it's its own little ecosystem its own little community within crypto is understanding how to and how to optimize your mining rig and all this other stuff so yeah if that's what you're looking for if you're looking for something where it's really hands-on and you you like the idea of you know putting in that initial capital investment and watching it grow and you know making making it back to profit and then seeing what you can get out of it and then selling cards and just constantly being on top of the news and what's going on and what's the best coin of mine and all this other stuff yeah if that's that appeals to you sure take it up look into it but for most people I would say stay away from it I don't really recommend mining to most people because you have to have the technical acumen you have to have the capital to invest in this and really it would just be a lot easier if you were to invest in the underlying assets that people are mining to begin with so right now mining is not exactly doing very well there's a lot of division in the community because you know you've got the the competition between GPUs and a6 you know we're seeing the new Nvidia cards come out and maybe that will revitalize some things but GPU prices have been inflated for a long time and there's only a couple basic manufacturers and they're not exactly the most trustworthy companies in the world so yeah it's it's not exactly a great space right now it's not exactly an easy space and what I often say to people is that if you're gonna mine if you're gonna get into mining you have to treat it like a business you have to get in there understanding you're gonna be spending this much money upfront you're spending this much money on your electricity per month you can have an expected you know hash rate of this and on average this is what your kind of return so you have to look at it almost like an Excel spreadsheet and it's if that's up your alley awesome I totally recommend going after its it can be really fun but you're gonna have to do a lot of research you're gonna have to understand a lot to get into it you're gonna have to understand what you're getting into because I mean I'll give you for example the 20 atti that was just released I would speculate that it has around 70 mega hashes per second and it's with that you're probably going to get maybe a dollar a dollar and a half per day based on the average kilowatt hour rate in the US and given that the 2080 Ti is $1,000 that's gonna take you two years to pay off should a fear IAM continue to go sideways you know let alone go down so yeah that's that's the sort of mindset you've got to have if you're getting into the space I think mining really blew up last summer because we were seeing a lot of interest behind it at the same time you know a theorem was blowing up at the same time I SEOs are blowing up but yeah that's really come down a lot and probably for good in terms of the the supply versus demand of graphics cards but it's just it's a complicated space and I could definitely go on and on about this but I want to stress that it is not as easy as some people make it out to be one thing I do need to stress is that if you see someone promoting cloud mining or you know some sort of service that allows you to mine or get a contract for their mining services I really really do not recommend that I don't think it's it's just not profitable I mean think about it from their perspective they could either sit there and mine cryptocurrency or they could lease out their mining services to people and make more money so I I think I think it's not exactly the easy passive income that some people might make it out to be so yeah I would stay away from that so let's move on to the other sort of you know left hand right hand of passive income and that's staking or proof of stake and so staking as sort of the cryptocurrencies community's response to what proof-of-work kind of became over the years where it became very energy intensive it's very wasteful in a lot of respects and some people will argue well no it's not waste because you're turning energy into hash rate which is going to secure in a network so it's not it's not like we're just you know lighting stuff on fire and just watching it burn no there's there's utility here but yes a lot of people find it to be wasteful and yes things are getting better with that as we scale as we find more efficient consensus algorithms etc but for the moment I think there's been a big push in the cryptocurrencies community for something like staking and other forms of consensus that don't involve wasteful transactions wasteful consensus so what we're seeing with staking is that instead of you know going in and using very expensive mining machines to secure the network and getting sort of a lottery style reward instead you're putting up a large stake of coins you're putting your stake of coins up and you're using that to receive dividends instead so there's it goes back and forth I've seen people argue for it and against it in terms of does it actually secure the network better than proof of work and you know what's it compared to delegated proof of stake and all these other other questions that are going on right now it's it's what you'll often find with cryptocurrency is that it's a very religious space in terms of people get very much in their little corner and they will argue it to death so I'm not really for proof of work over proof of stake I think both are have their reasons for existing and you know I think both will continue to improve over the years but for right now generally I point people I steer people away from proof of work towards proof of stake because it's just much easier to get started with it to make money with it it's going to really in general cases it's it's a lot simpler to set up and really once you get the wallet running and you keep it running through something like a VPS like vulture yeah it's really not hard to understand or you know if you explain to someone that yeah it's sort of like a bank account where you're gonna receive an annual return of 5% for example and there's a big list I linked they're called POS list org that will tell you what the annual returns are for each of these coins but yeah if you explain to people that it's basically like a bank account where you're earning interest on your you know the funds that you've got in the wallet basically your bank account that makes a lot of sense to people and I think that's the best way to think about staking without going into all the different my news regarding how it works and how it's different than proof of work and all that other stuff so staking is a great method for passive income as a really sick cryptocurrencies because you don't really have to do anything you don't have to have a powerful machine sometimes you don't even have to have the wallet running 24/7 so there's a lot of variance in terms of how different coins do staking and it's up to you to understand how the coin that you're investing in does staking if it does staking but yes I think it's it's one of the best methods I like to steer people towards and in terms of how to make passive income with cryptocurrency so yeah I think it's it's it's a really compelling method and again I could keep talking about this one for a while but we're gonna have to move on because we're running short on time the next one I want to talk about is exchange dividend coins and what they kind of bring is something a little bit different than proof of stake but it's it's the same sort of you know you don't really have to do much with with the exchange dividend coins you're essentially investing in the exchange in the hopes that they're going to attract users they're gonna attract volume they're going to list the hottest coins etc so Finance really pioneered this model a year ago I remember being on Finance the very first day that it started and I think I bought B & B token for a quarter it was which it's crazy considering the price it is today I wish I buy more but you know that is sort of the model that we're contending with or we're seeing kind of blow up recently with a lot of different exchanges sort of opting for that model and generally what will see with exchange dividend coins is that you'll receive a percentage of the daily training fees sometimes it's ten like 1% of the daily volume sometimes it's based on a lot of other factors but Finance is a little bit different in that you get lower trading fees when you have the BMV tokens and you sort of indirectly receive dividends because they're going to burn their tokens on a consistent basis so it's going to drive up the price of their coin especially as more and more people get involved with finance and etc so it's it's a little different than proof of stake but the concepts are pretty similar it's you're basically investing in a project you're investing in an exchange in the hopes that it's going to continue to be popular and that it's going to continue to receive trading volume so really not much to understand there but I think it's it's a pretty rock-solid model and I think it's a pretty rock-solid investment especially as it relates to some of the biggest exchanges out there such as finance it's kind of a no-brainer in terms of it's a been one of the best performing coins if not the best performing coin in 2018 so yeah this is definitely something that I'll see continued to go forward as we see more of a shift into decentralized exchanges and how they're going to utilize exchange dividend coins for those and it's it's going to be kind of interesting to see how exchanges kind of you know evolve over time but we'll see what we can do in terms of passive income as it relates in the future and how this model might evolve as well so moving on we're gonna see masternodes as probably one of my favorite if not my favorite form of passive income because me masternodes reward you for taking a large stake of a coin so it's basically proof of stake in most cases with these coins but you have to do something additional more often than not they're going to require that you're always online that you're somehow securing the network that you're voting etc etc it's certainly a model that was pioneered by – and has sort of blown up recently we're seeing a lot more coins sort of use masternodes as a means to really attract invest for participation it's it's a it's a pretty good model it can be used in the wrong way but generally I see some of the bigger coins out there that use masternodes do do it pretty well so the basic concept with masternodes is that you have to have a certain number of the coin and if you have that certain number of the coin you are available or able to receive additional dividends or you know a better staking or yield or maybe if there's mining involved with the coin you get a better return on your mining investment something like that it's it's generally up to the coin that you're investing in but what we see with masternodes is that they have very high ROI so that's why I like them as it relates to passive income because you're going to get a pretty good return on your investment especially if you go with a project a coin that is going to pan out in the future because masternodes really reward the people that got in early that's not always the case but it's generally the case that the more people have of a coin you know maybe it'll have multiple masternodes or something like that so it really rewards the early investors it really rewards the ico investors so yes it's it's a model that I think needs a little bit more tweaking I think we'll see it continue to evolve as well but it's it's definitely a compelling one it's definitely one that you can make a lot of really good passive income with so yeah definitely pay attention to master knows definitely use the links I've got here to sort of research some master nodes and yeah keep your eyes out for anyone that you think it might be compelling in a project that you like so yeah I think there's a lot of reasons to like master owns next we want to talk about speculative investment and again investment is that the most mind-blowing passive income source but I think this sort of encapsulate s'what cryptocurrency is and where it is currently especially what we saw in 2017 with the ICO boom if you had invested in every ICO last year you know just kind of threw darts at the board etc you would have made a thirteen hundred percent return which I think kind of speaks to what we saw last year with the ICO sort of boom and then sort of burst in 2018 is that people really took hold of this model this you know initial coin offering and sort of ran with it and it became this whole speculative investment boom and so I don't think it's it's I don't think we're going to see that sort of ICO boom again it's possible we could it's possible we could see sort of return to the norm with that but I really don't think it's we're gonna ever see a 50 thousand percent ICO return anytime soon the market is just kind of lost its taste for it because unfortunately what happened with the ICO boom is that we had the burst and people realize that a lot of these icy OS or scams and they just you know weren't very good projects to begin with and so a lot of projects have failed in 2018 it's you know unfortunately just kind of the nature of the market it's the nature of this cyclical nature of of the market itself this is kind of what we'll see going forward in terms of it's just peaks and troughs guys it's it's really how markets work it's how we move forward as a space involved with a new technology you know we're still defining things here we're still trying to figure out the right use cases we're still trying to find killer apps for blockchain so I often say to people that instead of trying to find you know that that perfect little gem that's gonna you know go to the moon or whatever that you instead educate yourself on the different sort of sectors as it relates to cryptocurrency there's a lot of different use cases for cryptocurrencies there's a lot of different use cases for blockchain itself but I think there's a lot that are better than others and as it relates to you know some of the best to invest in that's where I see yeah that's where I generally steer people towards so I say you know platforms are gonna do pretty well because you're gonna be building off of them or you know supply chain is another great example of a crypto sector that is going to continue to do well because it's such a good use case of blockchain so looking at crypto in that way looking at the markets and that manner will help you to understand sort of you know all the different for example all the different supply chain coins and what are their differences and maybe instead of investing in just one spread out your investments so you're investing in multiple of you know the same sector so that way you're sort of hedging your bets so even if you believe in one project more than any other bet on both of them had your bets with both of them give more preference to one over the other sure but that way you're able to take advantage of one succeeding over the other or you know they both succeed etc so this allows you to again diversify your portfolio to spread out your risk and I think as it relates to passive income it lets you sort of make sure that you're not just all laid on one coin that you're going to receive you know long-term dividends or you know long-term investment yields because you took the time to really research what you're getting into and diversify your portfolio in such a way that you're safe in terms of you know some projects can fail some projects can you know go down a lot in price etc so finding a way to diversify your portfolio to sort of mitigate that risk is something I highly recommend to people so moving on we're gonna talk about security token offerings and this is one that I've recently come across that I think is really compelling it's really gotten my interest recently because the way that I see it is this is ICO 2.0 in in the sense that this is where we're gonna see the market go this is what we're gonna see the market evolve into because right now the biggest problem with crypto is that it's a known regulated market it can't it's not congruent with the way all the other markets of the world operate and you know there's a lot of legal bodies in the world that you know we want crypto to expand we want crypto to be involved and see this institutional investment etc but we can't do that if we continue to operate outside of the law if we continue to try to define our own space and I know people are very much of the sense of the opinion that we you know need to hold on to that that's sovereignty we need to make sure that we never lose sense of the freedom that's inherent with this space the ideals that is instilled in cryptocurrency and I get that I definitely get that but unfortunately we can't grow as a space if nations of the world continue to look at us as a black market as a means of facilitating crime and terrorism and etc so there has to be a compromise we have to make a compromise in some respect and I think that's what the SCO represents it is a way to tokenize equity assets etc it is allow allows people to sort of utilize the ICO model in the sense that it's it's democratize it's decentralized you know gives people the ability to invest in things you know you could invest in for example real estate with just ten dollars you can't do that today not there's not a lot of places that will let you invest a small amount of money in a large asset like real estate but that's what stos open the world up to you know there's many many different opportunities where we could see assets and equity tokenized sto is done in the proper channel so that you know we're not in contention with the law we're not in contention with securities laws and instead we're playing it with the the the legal aspect in mine so I think that's why they're so compelling that's why we're going to continue to see them grow and be more and more prevalent in the market so taking the time to really educate yourself on what they are what they're gonna do because they're they're definitely coming they're definitely gonna be here very soon especially as we continue to see the discourse and discussions related to you know our ICO securities or utility tokens etc you know this is the way the markets going guys so being on top of it staying informed making sure that you're you know in front of the investor heard is how you be smart it's how you become smart money and how you maintain that edge that you know lets you get in before everybody else lets you you know be you know emotional is when you know they come in and they inflate the price and then the price drops cetera it doesn't matter because you got in first so you get to watch the whole thing happen in front of you with the sense that you got in so early that it doesn't matter you're still up even if the market corrects 90% so that's why I think this is one of the most compelling ways to and compelling things to invest in right now or you chase after in the crypto space and as it relates to passive income it's just like I see those guys it's just like you know you're gonna be investing in something and you're going to be expecting a yield a an investment return up from it and ROI so yeah it's it's it's really not that complicated it's not that different than what you're used to so yeah again take the time to really educate yourself on this take the time to understand it and understand what's coming to the market because it's gonna be here before you know it so I'm really excited for them I'm gonna continue to be talking about them and trying to educate people on them because I think this is the way the markets going so with that covered we've now covered ten different ways of maintaining creating passive income in cryptocurrency I hope you've learned a little bit and what I'd like to offer you is something a little bit more we've got a class where I talk about this subject a little bit more in detail I go into more points I talked about different coins different methods just in more detail than what I could cover here and so we're going to start that sale tonight we're gonna start offering that class tonight and because you guys were so patient and sat with me through this webinar I really appreciate it to reflect that we're giving a very limited time sale only this weekend so normally it's $99 but it's on sale tonight for 79 79 dollars and if you're one of our premium members we're gonna you can use your $10 off coupon to get it for 69 so I think that's a really good deal for sort of the inherent education that you're gonna get out of this I really do think that this class will pay for itself in terms of what I'm going to share with you what I'm going to teach you about and the different opportunities I'm gonna show you so I think it's it's you know it's gonna be a really exciting journey and way to sort of argument your income like I started this webinar talking about so yeah if you have any questions about that just reach out to us at support at already said crypto comm and as it relates to how to get it this link is not public the class is not out yet so you have to use this link to get to it it's ready set crypto comm slash passive and you should see the the sale on right now and like I said that sale is going away as of Monday so you have to get on through it right now to get that class and after Monday it's going to $99 so make sure you do that another thing I want to stress is that when you're learning about something like passive income it's really important to understand and sort of understand the the complimentary aspect so one of the previous classes that I taught was fun mentals so we have a class on fundamental analysis as well that I I think was one of the best ones I've ever taught I really enjoy that topic it's it's kind of the core of what I do at ReadySet crypto is understand how to evaluate cryptocurrency projects and you know read them front to back so with that in mind I really wanted to give you guys a bundle so that you could save on both of them both the fundamental analysis class as well as the passive income class so if you go to ready set crypto comm fun pass that was my idea by the way again this link is not available to the public but this offer is only good until Monday as well so make sure you get on that make sure that if this is what you want definitely get on it yeah it's it we're really excited to offer these things to you guys we really love giving you this sort of education so that you can go forth and you know make that money with with crypto find those opportunities it you know this is such an exciting space and it's such an honor to be in front of you guys and talking about this stuff because it's it's just so exciting it's it's really cool so crypto doesn't sleep neither do we so we're constantly on top of this stuff we love love being in front of you guys and we really appreciate you being on this webinar so at this point like I said the sales go through this weekend at this point we're gonna go into QA and again here's the links if you need them let's get it started all right so we got a question about V chain and as it relates to passive income yeah actually V chain is a definitely one that's going to embody both the sort of staking model as well as the master model V chain Thor is going to be the native currency that they were going to put out and yeah I need to catch up on my research on you know what's the difference between like X nodes and all the other nodes that they've got but it's a pretty simple model in terms of you're going to be receiving a portion of the the V chain network and the the dividends based on that so yeah I do think that V chain has a future I do think that they've got a lot going for them and yeah hopefully that they can continue to improve their marketing can continue to improve their message and really just help people better understand their technology I think that's something that they need to do a lot better because they've got one of the the toughest white papers I've ever read through so yeah V chain is definitely up there okay so Michael is asking about what are your thoughts on staking pools staking pools um yeah so one thing I definitely didn't talk about in general is pooling as it relates to you know either mining rewards or staking rewards pools are interesting you're they're almost kind of necessary at this point in mining because there's just such huge pools out there for those who don't know pools allow you to pull your resources your example mining resources with others so that you have a better chance of receiving the rewards you know if your pool makes up 20% of the network then you're on average going to receive 20% of the rewards and so that reward is going to be split up between everybody in the pool of course based on you know the power within so it's the same sort of principle with staking pools I just want to caution people to make sure that you know there's some sort of safeguards in place to make sure that no one can run away with all the money that you're not just staking on wallet or something like that that there's ways in place to make sure that someone can take advantage of you or something like that so yeah thoughts on pay fair versus local coin swap mm-hmm I do I do like pay fair I do think that they need a lot better message oriented type marketing III think they've sort of struggled recently with just getting out there and launching but now that they're out there I think they're gonna become more and more relevant in today's sort of crypto ecosystem hopefully they can continue to add coins and that sort of thing what is compelling about my pay fair is that you can have I think it's called a trust node with them where you'll receive I think 1% of the daily trading volume whatever that is and it's really cheap to get one of those as well so yeah it could be a pretty compelling I don't know passive income source so I don't know much about local coin swap unfortunately so I'll really have to look into what what are the big differences between pay fair and local coins off but I do know that I like pay fair a lot better than local bitcoins so yep Ricardo's asking do you teach how to set up a node so unfortunately I can I can kind of cover the the basics and I will sort of talk about what is necessary to on average set up a node be that if you're staking or doing a master node etc but a lot of times what you'll find is that nodes require very specific you know instruction sets where you know you have to you know if it needs to be set up on Linux for example and you need to go through that whole process and usually there's really good guides but if you've never touched a command-line before unfortunately I can't really help you understand implicitly what's going on there you're gonna need to have some technical acumen to say you know yes I'm comfortable being able to run commands I'm able to do some troubleshooting you know that sort of thing so not every node is created the same some are much harder to setup than others some are very easy I a long time ago I set up a nav by with nav coin which is you know a Raspberry Pi 35 dollar computer using nav cone and doing sneaking on that as a way to have a 24-7 wallet always online and so that was a really interesting experience because the Raspberry Pi did not have a lot of processing power and it was there was a lot of scripting involved a lot of running command line scripts but you know it's it's it was really a great project it was really fun to do and you know so kind of look at it that way you know what is your technical prowess and you know how comfortable are you sort of digging into the technical details and if you're not I can't really recommend most coins out there that require sort of that setup process but yeah great question yes trading bots so trading bots there is definitely a spectrum in terms of how hands-on they are and generally what I found is that the free ones unless you're really wanting to like dig into the code and tweak the settings and all that other stuff the free ones are much harder to use and the paid versions or the paid trading bots and what I've also found is that you really need to be on top of it as well you can't just you know set it and forget it you need to be in there making sure that it's doing the correct strategy that it's selling off the bags that it's acquiring etc so unfortunately trading bots are just not that sophisticated it's not a Holy Grail right as long as the markets going generally lower your your-your-your just loading up on bags right now you know unless you have a great algorithm that you're running you're getting very very small gains on just little pops to the upside so you're not getting anything to run so you're going to be you're gonna be grinding your account down and I know this through experience yeah yeah so there's other models in place doc covered shrimpie not too long you know there's there's BOTS like three commas and crypto hopper which are a little less intensive yeah it's we're getting better as a space about that kind of stuff but right now it's tough and you really do need to be it's more of an active passive income source than just a passive passive income source but yeah great question let's see-oh crypto ATM as passive income that's an interesting question yeah because there are not that many of them right now well let me think about that because because they need to you you definitely need to be making sure that you're setting it up in the right place and you're sort of subject to making sure that I don't know if that's that's a that's something I've looked into enough but it's a great question I mean yeah looking into sort of the the cost necessary to to set up a crypt ATM and where you put it and you know is there any other you know competing ATMs in that location etc yeah you would definitely need to look at it like a business sort of the same thing I said about mining as well but yeah that's maybe something that will become more and more relevant but for right now I think it's sort of a fringe kind of thing right now but yeah that's really interesting I hadn't even thought of that let's see how do you distinguish a good masternode as all the famous ones are too expensive and the less unknown ones are a little bit difficult to sell maybe yeah so that's a good question basically how how you find good masternodes and i think it goes back to what I was talking about fundamental analysis and sort of how you evaluate a project kind of front to back how you'll you know look at a project website and read through a projects white paper and kind of understand what it's doing if a project exists for no other reason just then just to be a master node I don't think that's a very good project I don't think that's a very compelling thing that's gonna you know like I was saying in the very beginning you need to invest with longevity in mind you need to look you know five years ahead for what's going on for this project and again if it's just trying to be a master node or some sort of you know just only staking coin with no other functionality yeah I just don't think that that's very compelling and it won't really attract that many users and of course you can attract users based on ROI alone sure but yeah I don't think that's enough so I like to see projects that have a master node in tandem with some sort of functionality in place we were just talking about V chain and V chain is you know their master nodes are part of the network they're part of how they secure the network even – which not my favorite coin but you know sort of pioneered the the master model and really made it popular you know that is a coin that you know they depend on the master notes to kind of be a part of the the network and not sell their positions because as we saw – master node was almost a million dollars earlier this year so yeah let's see the passive course is up on the site you just need to go to your ad site crypto comm slash passive to access it and then once you have purchased it it will be in your class archive okay great let's see what else we got all right let's take two more questions here for tonight and then we apologize there's somebody questions flying in right now we're just no way we can we can grab everything so if there's something that you have a burning question go ahead and email us support it ready set crypto comm or we have a contact page on our website as well – so otherwise we'll be here all night and some of you people are in Europe right now and you know that's again thank you so much yeah I really really appreciate you guys being on wherever you are in the world you know as I said crypto Never Sleeps and so we have to constantly be on top of this stuff because it's always evolving always changing so it's a great great space yeah Ricardo if you're gonna buy if you're a premium newsletter subscriber make sure you use your coupon which is in every single newsletter that we put out so there's a coupon that's out there we'll get you 10 bucks off the course and then yeah just making sure that use the same email that you use for the newsletter we'll make sure that it's attributed to the same account oh and then yeah the content of the classes so everything we do is hosted on YouTube it's just sort of an unlisted video so it's it's always gonna be on there and you'll always have access to it so it's not like I don't know if it for example if you're a premium newsletter subscriber and you cancel your subscription I'm sorry to see you go but you know you won't lose access to the class that you purchased so you know that you always said you'll have access to it on perpetuity so yeah of course okay anything else here I don't think so I think we're good so thanks everybody for hanging out with us tonight we appreciate you guys yeah taking time out of your schedules to learn about passive income please if you have any interest at all in the class get signed up for it this weekend because we will put it up to list price so this is what we do we're trying to encourage people to sign up for this thing by this weekend and then then it just goes up on the store yeah yeah so thank you guys for sticking around we really appreciate we love doing this kind of stuff for you guys yeah and if you have any other questions please reach out to us otherwise have a great night great morning wherever you are in the world and yeah let's let's continue to make crypto great so yeah all right folks have a great night thank you


42 thoughts on “Making Passive Income With CryptoCurrency”

Leave a Reply

Your email address will not be published. Required fields are marked *