Thread by @R1chardMaur1ce

Everyone wants to make money while they sleep.

But most get passive income wrong. My take:

➡️Real vs fake passive income
➡️PI1: Options trading
➡️PI2: Trading bots
➡️PI3: Crypto mining groups

Let's dive in!

#passiveincome
#Crypto
#BTC
#OptionsTrading

REAL vs FAKE

Technically, there is no such thing as passive income. You have to put in some effort somewhere to get it started.

So there is a gray area here granted, and up to each to make their own definition of passive income.

That being said, let's agree (or not!) that the following definition is wrong:

(Source:

https://twitter.com/jjeffrose/status/1643025667922055175?s=20

)

How many weeks/months to build a course or write a book? It should be called delayed income

How many hours per week to manage the queries for your car rental or the program you sell? It should be called a part-time job

I want something more passive. Here's what I've found:

PI1: Options Trading

This one is the less passive of my plays. There's a bit of learning to do first, and after that it usually takes around 30 minutes per week.

What is it?

I explain it clearly here: medium.com/@crypto.ricard…

Don't be intimidated by the terminology; it can be very easy and low risk.

My strategy:
1- Sell low-risk options that expire in a week and pocket premiums (commissions)
2- once I get my collateral (#USDC) back at the end of the week, I sell again!

Rince-repeat-compound

I have a 100% win-rate on @lyrafinance, but I moved most of my USDC to @Synquote because they offer better/safer strike prices and have zero fees!

Synquote is still in beta (for another 4-6 weeks). If you want access or have questions, join the Discord: discord.gg/synquote

TRADING BOTS

Centralized exchanges like @kucoincom and @bitgetglobal offer grid trading bots or copy trading. I wanted to give them a try, but fortunately I sought feedback.

Apparently, you break-even at best....

The bots I am using are on @AstrabitTrading

I explain in detail how it works, risks, rewards, etc. here.

https://twitter.com/R1chardMaur1ce/status/1643109820244045829?s=20

In a nutshell, AstraBit bots run 24/7 and apply a strategy of your choosing, developed by top traders like @BreadBytes_ and @ElevateTrading

These bots have monthly subscription fees: 1 for the bot and 1 for the strategy. What you get in return are teams of professionals working on the bots and strategies full time, coming up with upgrades and improvements

But that also means you need a decent balance to feed the bot

For smaller balances (i.e. under $1K) I'd rather look at a copy-trading platform like @PerpyFinance

I have not tried it and it's new, but it looks promising

Back to AstraBit bots: they are truly set-n-forget, especially if you use @okx because you don't have to renew API

CRYPTO MINING GROUPS

The most passive of them all. I'm into two groups:
@MinetopiaNFT
@FractionMining

The dynamic is simple: they sell NFTs, use the $ to set up crypto miners, sell the coins and split the profits with NFT holders.

I have yet to receive money from Fraction

As for Minetopia I've been receiving money twice a month for over 6 months

I have not break-even yet, but imo it's a matter of when, not if, especially when seeing how well run the group is. Come have a look! discord.gg/Pbznf7hT

But indeed, it cannot be more passive than that:

Step 1: buy NFTs
Step 2: do nothing

Minetopia airdrops you USDC.

Voilà!

I hope this inspired you to look into these passive income streams.

If you have any questions (and you should), don't hesitate to reach out

https://twitter.com/R1chardMaur1ce/status/1644934006037704704?s=20