Consider Staking or Yield Farming for Passive Income
- Staking: Some cryptocurrencies like Cardano, Polkadot, or Ethereum 2.0 allow you to stake your tokens in exchange for rewards. Staking involves locking up your crypto to help secure the network and validate transactions.
- Yield farming: In the DeFi ecosystem, yield farming refers to providing liquidity to decentralized platforms in exchange for interest or rewards. It can be an attractive way to earn passive income but carries risks, such as impermanent loss and smart contract vulnerabilities.
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