Ways How You Can Earn Bitcoin Passive Income.

Hello steemians, we need to know how to get the most out of holding our Bitcoin long term. I've done some research and found some amazing ways to earn passive income on your Bitcoin to grow your holdings and investment yield on crypto which is a major bonus if you're holding it. Bitcoin being a proof of work blockchain, it doesn't pass anything automatically so we have to be a little clever in how we try and earn some extra income from our Bitcoin. Basically, the ways how you can earn extra passive income, if you hold Bitcoin include; lending it out to earn some extra yield, some bonuses and credit cards let you earn income from your Bitcoin when you use them. There are ways that we can take the value of our Bitcoin and use our Bitcoin on other blockchains allowing you to earn some extra income that can’t yet be done on the Bitcoin network.

image source

Bitcoin lending. If you hold Bitcoin right now and you're earning nothing in terms of passive income, then you're losing out on potentially 3% to 4% every single year from what you're holding. These services not only let you earn an extra yield but they will actually reinvest that into more Bitcoin, so you are compounding your results over time and it's something you should definitely look into if you're not doing it already. Depending on the platform, you might get paid weekly or monthly for instance on Celsius wallet, BlockFi and Crypto.com.

image source

Celsius wallet has different rates for the United States and international rates, so depending where you are that might change. You can easily see how much you would earn depending on how much Bitcoin you have and how long you hold it for. The annual yield you get from holding Bitcoin with Celsius is 3.51%. You can also earn up to 5% with BlockFi on a certain amount of Bitcoin. Definitely first check rates and offers when you are using these but certainly 3.5% to 5% for lending out your Bitcoin on these services is going to help you compound and grow your Bitcoin portfolio at the time. The way that these services work is by taking all of their customers’ Bitcoin and lending it out to traders and institutions and in return those institutions will pay a fee which is passed back to you. Because these lending wallets are centralized, they give a lot of deposit bonuses and you can get a $40 deposit bonus with Celsius wallet, up to $250 deposit bonus with BlockFi, and a $25 signup bonus with crypto.com.

Bitcoin cards and spending options. Not everyone will go for these, but if you are in the ecosystem and you want to earn some Bitcoin then these may be a good way to actually earn 1% to 2% on purchases you would make. For instance, the Binance Visa card, the BlockFi Visa card and the Coinbase Visa debit card.

image source

The Binance Visa debit is actually on pre order now, but something this will give you is the ability to spend cryptocurrencies in normal stores that accept the visa. One of the main benefits of this is that you'll get up to 8% cashback on your purchases when you make the card. The VISA credit card from BlockFi is a little different being a credit card and not a debit card, and it is really Bitcoin focused. If you want to get into the ecosystem, and earn some bitcoin when you're going through making purchases, this could be something that you want to look for. The Coinbase Visa debit card is slightly different being a debit card, and not a credit card which allows you to spend the value of any cryptocurrencies that you may have.

This is not financial advice as you can also do your own research on your own to earn more Bitcoin in your portfolio.

Keep steeming,
@brayan256