Earn Passive Income On Your DriipChain Asset

8 min readJun 30, 2021

The cryptocurrency industry “Driipa Foundation” has created A new digital economy that provides individuals with a range of entirely new ways to earn passive income online.

In this guide, you will discover ten ways to earn passive income with cryptocurrencies on DriipChain.

Staking

Through our previous articles, we’ve explained various ways you and i can earn from our crypto assests all through communism.

DriipChain is structured to run with 3 consensus and ‘Proof of Stake’ is of them. Proof-of-Stake (PoS) secure the blockchain by having users stake coins (locking or holding your coins in a crypto wallet) as opposed to contributing computing power to the network (as is the case in Proof-of-Work chains like Bitcoin). In exchange for securing the network and processing transactions through staking, holders are rewarded with newly minted cryptocurrency.

Staking on PoS coins like DriipCoin, therefore, become a popular way to earn interest on crypto asset holdings. Long-term “HODLers” are particularly fond of staking their coins as it can add potential returns to their investment portfolios. By staking Driipcoin, you can earn around 5 percent interest per annum on your holdings.

Staking cryptocurrencies is an excellent way to earn passive income, but it does require a certain amount of technical expertise. It is essential to familiarize yourself with the process of staking for the particular cryptocurrency project you want to get involved with before investing time and money into the passive income opportunity

Interest-Bearing Crypto Accounts

A new form of generating passive income using crypto that has only arisen in the last few years is interest-bearing cryptocurrency accounts.

BlockFi, for example, enables digital asset holders to earn an annual yield of 6.2 percent on their holdings by storing with them in a so-called BlockFi Interest Account (BIA). Accepted cryptocurrencies include bitcoin (BTC) and ether (ETH) and a minimum deposit of 1 BTC, or 25 ETH is required. BlockFi uses the deposited funds to lend to institutional and corporate borrowers on an over-collateralized basis to ensure loan performance.

Celsius Network, a decentralized finance (DeFi) platform, shares up to 80% of its revenues with the Celsius community in the form of weekly interest payments of up to 13.30% APY on coins deposited on its platform.

Cryptocurrency interest accounts enable you to receive passive income in the form of regular interest payments while you “HODL” your coins.

DriipWallet Offers something more and better, transactions on DriipSwap is deflationary, no matter what crypto it is, the more it is tradable. Two of the current planned ways to earn through the wallet are;

-All Coin re-distribution to all existing holders

-Shares up to 71% of our revenues with the Driipa community in the form of daily interest

Peer-to-Peer DriipCoin Lending

If you prefer a more hands-on approach and the potential to earn higher levels of interest, you could also engage in crypto lending as a way to generate passive income.

On driipcoin-powered peer-to-peer lending platforms, you can lend cryptocurrency to crypto businesses or professional crypto traders who are in need of funding.

On BTCPop, for example, you can lend digital assets on a peer-to-peer basis to other marketplace participants and earn interest. Unlike traditional lenders, BTCPop uses a reputation system as opposed to a credit score.

Of course, lending cryptocurrency carries risk as the borrower could default on your loan. Hence, it is essential to diversify your crypto loan portfolio to a number of loans and look at each borrower in detail before handing over your coins.

If you are comfortable with the concept and the risk profile of peer-to-peer lending, platforms like BTCPop provide an excellent passive income opportunity for crypto holders.

Lending to Margin Traders

If peer-to-peer loans are a little too risky for your personal risk preference, you could also lend cryptocurrency to margin traders on leading digital asset exchanges for example, Bitfinex and Poloniex allows such which will be made available on DriipSwap.

On Bitfinex, for example, you can lend both fiat and cryptocurrency to margin traders who are borrowing to fund their leveraged trades. In exchange for lending to margin traders, you will earn daily interest. The average daily funding rate for BTC, for example, stood at 0.003537 percent at the time of writing. Accumulated over several weeks, this compounds to a substantial annualized yield for lenders.

Lending to margin lenders on exchanges is, therefore, an excellent way to earn passive income using cryptocurrency. However, it is important to note that there is a risk of storing crypto assets on exchanges as they are prime targets for hackers, which Bitfinex’s hack in 2016, for example, has taught us. Hence, lending to margin traders is by all means not risk-free.

DeFi Lending

Another relatively new form of generating passive income using crypto is through DeFi lending.

DeFi is an ecosystem of blockchain technology-based financial applications that function without a central administration or third-party intervention. Unlike on centralized peer-to-peer lending platforms, like BTCPop, DeFi lending occurs on an autonomous protocol powered by smart contracts.

Today, the Total Value Locked (TVL) in DeFi protocols stands at $45.01 billion, according to Defi Pulse.

Because DeFi is permissionless, transparent, and open-source, DeFi lending has become very popular. DeFi lending is where crypto lending platforms such as Compound or Aave provide crypto loans with zero intermediaries allowing users to list their crypto coins for lending purposes on the platform. This way, borrowers can directly take loans via the decentralized platform, and the lender is able to earn interest on their coins.

On Compound, for example, token holders have voting rights over things such as technical upgrades, protocol upgrades, and decisions to integrate new assets on the platform thanks to the COMP governance token. However, what’s perhaps more interesting to crypto investors is that depositing funds in a lending pool typically means earning a higher APY than in a traditional bank account or money market fund.

Although DeFi lending has become highly popular due to its above-average APY, it is far from risk-free. Protocol hacks on less established DeFi lending platforms have been an almost weekly occurrence from the DeFi boom of 2020, with the upgrade of DriipChain we anticipate less occurrence. READ MORE ON DECENTRALIZED FINANCE HERE

Mining

Earning for fun is not far away from you anymore, once during your time of using cryptocurrency you must have searched google for things like this.

“How to earn money online?”

“How to earn money passively?”

“How to earn money while using Facebook/Whats-app/Tiktok/Instagram?” and many more..

I can say it has been a really tough experience to make an internet subscription with your hard earned funds and burn it off with nothing to show. There’s a good news for you mind to hear?…

Driipa Foundation has structured technical plans to build and launch its own Decentralized Social Media Web Application and which is of course built on the DriipChain.

By being active on the chain, you automatically mine DriipCoin, the higher your Activity Energy, the higher your hash rates, And yes you’ll need to stake DRP to activate mining.

Mining is not restricted on only Social media app, we have more social projects to launch BY Driipa Foundation which will allow you to mine more DriipCoin such as: Gaming E.T.C

Yield Farming

Besides lending, yield farming is another way that users can earn passive income in the DeFi markets.

Yield farming is the process of depositing digital assets in a trading or lending pool and then staking the protocol’s token to earn additional returns.

For example, if you are yield farming on the popular Binance Smart Chain-powered yield farm, PancakeSwap, you have to deposit two tokens into a trading pool to receive income from trading fees, and a pool token, called LP token, that you can then stake to earn yield farming returns paid out in the protocol’s token, called CAKE.

Yield farming is a very risky venture and not something for investors with a low-risk tolerance. It is, therefore, essential to conduct a bit more research before starting to yield farm as a passive income-generating activity.

Holding Dividend-Paying Tokens

Finally, one of the best and easiest ways to earn passive income in the crypto markets is to buy and hold dividend-paying tokens. Currently, the main type of digital tokens that pay a dividend is exchange-issued tokens.

A number of digital asset exchanges have issued their own tokens, which provide users with discounts on trading fees and, in some cases, entitles them to a share of the platform’s profits.

Examples of profit-sharing exchange tokens include:

KuCoin Token (KCS), which pay holders 50 percent of KuCoin’s trading fees as dividends.
Bibox Tokens (BIX), which pay holders 45 percent of Bibox’s net trading fee profits.

To earn dividends on these types of tokens, holders are usually required to hold them on the issuing exchange or stake them using an external wallet. The more tokens you hold, the more passive income you can earn with them.

There Is No “Free Lunch” in Crypto

Before you jump onto any of the above-listed crypto-powered passive income-earning opportunities, it is essential to highlight that none of them are risk-free.

Mining, staking, and lending all carry varying degrees of risk that need to be taken into consideration. Moreover, for newcomers to the cryptocurrency world, it is vital to know how to manage your cryptoasset holdings, including your private keys, before testing out any of the mentioned passive income avenues.

Having said that, once you feel comfortable with the concepts of staking, and/or lending your coins, you can start earning passive income today.