The crypto industry is full of dangers but also full of opportunities. In the past 5 months, I have been able to generate $32K of income writing independent token reviews on Cyrator. While I used a deep understanding of the crypto market to achieve that, there are other options out there for people with knowledge of other industries.
My Income Structure on Cyrator
Not all my income on Cyrator has been passive because I have been writing reviews which takes a little bit of time, typically 1 to 2 hours a week. However, here’s a total breakdown of my income structure. Most of it comes from receiving upvotes and super upvotes by other community members (which doesn’t involve my time). As well, another third of my current income comes from referrals of other analysts I have introduced to the platform (affiliate marketing).
Income from Reviews
I have written 130 reviews in the past 5 months, that’s an average of 6.5 reviews per week, I was a bit more active in the early days. Regardless, writing these reviews generated ~$3900 of income directly. However, most of the points on Cyrator are obtained by receiving upvotes and super upvotes by other analysts, which is where most of my income came from ($15,770 about 80% of my income).
The passive income comes from three main sources: 1) the upvotes and super upvotes, 2) the capital appreciation of the token itself, 3) affiliate marketing.
In the past 5 weeks, the token has appreciated first to $0.01, and now to $0.015. Since I haven’t sold any of my tokens, my accumulated capital has increased by 50% in value from $21,308 to $31,962. Obviously, there are risks associated with keeping the tokens but I feel the price has not yet finished to appreciate in value, so I am just being patient (not financial advice, due your own research). I am confident that during the next bull run I will be able to sell my tokens at a good price… much higher than $0.015. I may even just decide to use them to earn additional passive income with yield farming on a liquidity pool once the token becomes traded publicly, which is usually what I do.
Affiliate Marketing Income
I set up OctopusCRM and LinkedIn sales navigator to automatically send messages to people that are active in the crypto-industry (if a step by step guide would be valuable comment below and I’ll update this post). Over the last 2 months I have recruited 19 people, some of which are still active analysts. They are earning an extra 10% bonus on their own income for having used my referral link (Cyrator), meanwhile I also earn a 10% bonus on the earnings they generate without costing them anything. This earning amounted to $1,590 thus far (about a third of my income every week), and it keeps giving without my involvement anymore. I just let the automation tools do their job. Since the price of the token has just increased to $0.015, now this represents $2,385.
There are many ways to generate passive income. I did not go into other areas where I am active in generating passive income, but I also utilize crypto trading with grid bots, and social media content. I reached a point where I generate enough every month to live regardless if I work or not anymore. I have been traveling in many countries as a digital nomad without the pressure of working in a cubicle. I continue working not by necessity but by choice because I enjoy doing what I do. I hope many of my readers will find the right source of passive income that fits their knowledge and lifestyle so they can enjoy life as much as I do.
Crypto Rookies is a crypto investor, serial entrepreneur in Artificial Intelligence and Web3/crypto with expertise in tokenomics and market making. Currently CEO of Smooth, which is a Market Making as a Service infrastructure designed to prevent economic collapse of crypto-currencies.
His Medium channel generates 10,000+ views per month on the topic of tokenomics and crypto investments, so if you are interested in becoming a sponsor, please reach out to Crypto Rookies.
Meanwhile, please feel free to join the various communities I am involved in and do not hesitate to reach out.
Use my referral code below for various crypto tools used for trading:
Centralised Crypto Exchanges to trade with Leverage and Grid Bots:
Airdrops I'm working on:
If you trade crypto, check out the upcoming airdrop of a zk-powered DEX: https://grvt.io/exchange/sign-up?ref=MNPAWRY
Checkout Data Ownership Protocol (DOP) and their up coming airdrop (current tasks are on testnet only so no need to risk your capital) if you want to selectively hide certain assets in your wallet and certain transactions.