Building Wealth in 2024: How to Leverage Crypto for Passive Income

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Are your crypto assets sitting idle in wallets while you wait for that pump to leverage the price gain? You can do better. 

Crypto investments aren’t barren stocks or bonds. They come with added utilities and passive income-earning opportunities. Staking, lending, borrowing, yield farming, and a host of DeFi opportunities are great passive income sources. 

Let’s explore a few of the top passive income-earning opportunities across categories that you can avail of in 2024 for great returns:  

Layer-1 Blockchains 

1. Cosmos

Cosmos is known for its interoperability and scalability Cosmos Hub forms the intermediary between all blockchains within the Cosmos ecosystem. Cosmos founder Jae Kwon recently initiated a fork of the Cosmos Hub after a proposal was passed to put a 10% cap on ATOM’s inflation.   

The current staking rewards for Cosmos are estimated to be at 9.22%. One point to note here is that the staking rewards will be distributed in a separate account from the one you used to delegate your tokens for staking. They won’t be compounded to your delegation either, unlike MNW or LAND.

2. Solana

The Layer-1 solution has outshone the crypto market this year with almost an 8x price increase, flipping XRP and BNB in market cap. Despite the FTX debacle, the developments are worth noting – the launch of the Saga mobile device, artificial intelligence integration, BONK hype, and institutional partnerships. 

 Solana also allows holders to stake tokens and become validators on the network. There are over 3,400 validators on the network. Stakers can earn up to 5% staking rewards by staking on the network.  

3. Elysium 

Elysium is the native blockchain for one of the most happening gaming ecosystems, Vulcan Forged. It is a carbon-neutral, proof-of-victory layer-1 with a TPS of 2,500. Vulcan Forged ecosystem alone has 15 games, including Tartarus, the first-ever Oculus VR NFT Game. 

Elysium has a multi-tiered staking reward structure. It sets aside 40% of royalty fees and 80% of sowing fees for staking rewards. Stakers can earn up to 15% rewards on the tokens staked. 

Masternode Networks: 

1. Helium 

One of the oldest DePins (Decentralized physical infrastructure) in the crypto space, Helium offers a blockchain-based network connecting IoT devices. HNT’s price has seen a 2x increase in the last few days, driven by its $20/month unlimited cell phone plan and NFT rewards. 

Helium has a staking reward of 8.61% for anyone participating in its masternode program. The current stake rate on the Helium network is 36.98%.  

2. Morpheus.Network 

Morpheus.Network is a blockchain-based middleware solution for supply chains across the globe. It has 100+ integrations with Salesforce, IBM, Swift, DHL, FedEx, Oracle, and more. Its coveted list of clientele includes the Gulftainer, Coke, Telefonica, Geeq, etc. 

Morpheus.Network’s masternode program provides a great opportunity for token holders to earn regular passive income by running masternodes. 

Any MNW holder with 1,800 MNW tokens can operate a masternode and get rewarded at an 18% annual rate. MNW staking rewards are the highest so far among the present masternode programs. 

RWAs: 

1. Landshare

Landshare tokenizes real estate into yield-bearing real-world assets on the blockchain. It was the first to sell property on the BNB chain. The platform successfully conducted the presale round of its RWA token, LSRWA, and the public sale will go live soon. 

Landshare’s LSRWA token opens up multiple opportunities for passive income. LSRWA token auto compounds and appreciates in value and can be used to avail DeFi opportunities like lending, borrowing, etc. LSRWA tokens will grant 10-15% returns annually.  

2. Polymesh 

Polymesh is an institutional-grade public blockchain for regulated RWAs. 47 operator nodes are active, and 428 million tokens are staked on the Polymesh platform. Some of its integrations and collaborations include TokenTraxx, Digishares, Entoro, Tokenise, Saxon, etc.

POLYX holders can win up to 24% staking rewards by staking tokens to validate transactions via the block-writing pool.  However, there’s a catch: only the top 2,048  stakers per operator receive rewards on Polymesh.    

Which Category of Tokens Are You Going For?

The article presented several options and ways to earn passive income using cryptos. You can join a masternode program, invest in RWAs, or stake to validate transactions and secure a blockchain network. 

Put your assets to work, invest wisely, and always note the market developments and risks before initiating any investment. Let your tokens clink!