Passive Income is the holy grail of money making, it requires little to no work, and you get rewarded for not doing much. Who doesn’t love that?

Unfortunately, this is an area that is easily exploited with “MLM Opportunities” like USI Tech, Bitcoin Wealth, Bitcoin Wealth Club, Trade Coins Club etc.  If you’re involved with any, we truthfully wish you the best of luck. We don’t want to see anyone lose money.  But, we’ve been around the block, see the red flags and unfortunately know how these things end.

The Most Recent Scam: MLM Schemes

Bitcoin multi-level marketing (MLM) schemes with no actual product or service that promise high commissions for successful referrals are simply another type of Ponzi scheme. Funds paid out to participants in the scheme are not company profits. Instead, they are solely a share of the new money that new users that were referred to the service are placing into the scheme.

Any multi-level marketing scheme that does not have participants selling an actual product or service are almost always guaranteed to be Ponzi schemes.

The following are five of the most common scams involving bitcoin:

1. Bitcoin Ponzi Schemes and High-Yield Investment Programs. These scams lure people in with promises of high interest rates on deposits. As with other Ponzi schemes, early investors are paid out using investments from later investors. When new investors stop joining and payments cannot be made, the scheme collapses. These scams last often only a couple of months, but the organizers are prone to simply repeat the whole process again afterwards.

2. Bitcoin Mining Investment Scams. Bitcoin mining involves validating transactions and providing security for the public ledger, known as the blockchain. This process requires extremely powerful and expensive computer equipment. The mining scams typically involve orders for equipment that are paid for in advance and never delivered. (For an in-depth review of mining, see: What is Bitcoin Mining?)

3. Bitcoin Wallet Scams. bitcoin wallet is a software program used to store bitcoins. Wallet scams attract users with the assurance of greater transaction anonymity. Once the deposit level rises above a certain level, the scammers simply move the bitcoins into their own wallet.

4. Bitcoin Exchange Scams. These exchanges attract users by offering credit card processing at more competitive rate than their competitors. The fraudulent bitcoin exchanges simply do not return bitcoin or cash after receiving payment.

5. Bitcoin Phishing Scams. Phishing scams can involve emails informing people that they have been awarded or given bitcoins. They are told that they need to log into their bitcoin wallets through a link in the email that unbeknownst to them gives the phishers complete control the account.


Enough About What To Avoid! What Are Ways I can Earn Passive Income?

1. Binance Exchange

Click To Register your account.

While New Registrations are closed, many have been able to Join using the link below.  I assume they’ll patch this soon, but as of writing this link works to Join!

Binance Link To Register While Closed to New Members

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Step 3: Share the referral rewards program with friends using: QR Code, Referrer ID or Referral Link.

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Step 4: After your friends successfully register at Binance.com and start trading, you will receive a 50% commission of his/her trading fee in real-time during the first month of the promotion, although their referral program has been between 20-50% bonus. You can check the Referral Friends, Estimated Commission Value, Latest Commisison History on the event page.

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Start Trading Today on Binance! New Registrations Should be back open any day now if not already! Just Click Below To Join & Begin Trading

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Join Binance

While New Registrations are closed, many have been able to Join using the link below.  I assume they’ll patch this soon, but as of writing this link works to Join!

Binance Link To Register While Closed to New Members

2. Kucoin Exchange

If Binance, Bittrex and others are Still Closed to New Members, Kucoin is a great option to trade and has the best referral program in the business.

Kucoin is going to become a fantastic source of passive income. Launched in September 2017, Kucoin exchange has its own coin KCS (kucoin shares) similar to Binance’s BNB. However, reward mechanism is different.

Binance rewards BNB buyers by discounting up to 50% trading fees when paid with BNB. Kucoin rewards users for just holding KCS. Reward amount is calculated based on user’s total number of KCS and daily total trading volume. In the whitepaper, Kucoin plans to distribute 90% of profit from trading fees to users – 50% will go towards KCS holders and 40% to referral links.

Kucoin has a fantastic team and support members that are responsive and constantly updating with progress. Kudos to Kent Li, the operation manager from Kucoin, for always being on Kucoin’s telegram channel.

Trading volume is still small and there is a lot of room for growth. Over the past few months with the closing of new member Registrations on many exchanges, Kukoin has been the fastest growing exchange.  My daily award from Kucoin has been growing exponentially. Value amount isn’t high, but the growth percentage really excites me.

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Check out the Video Below.

Kucoin

You can Join Kukoin by Clicking The Link Below

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Join Kucoin Here

3. SingularDTV’s token SNGLS

SingularDTV’s token SNGLS has been one of my main holdings for quite some time now. Not only do they have a great business model and product, they also know how to treat their token holders well.

As a part of their ecosystem, SDTV plans to regularly reward SNGLS token holders by distributing ETH. Anyone who owns SNGLS is eligible, as long as you hold your SNGLS in an ERC-20 compatible wallet (so not an exchange, except for Binance).

In addition, SDTV received a large amount of OMG from Omise’s airdrop. They are generously planning to distribute all of their OMG tokens to their SNGLS tokenholders.

Owning SNGLS could be new form of “crypto passive income.”

4. Delegated Proof of Stake with ARK

I stumbled onto ARK a few weeks back and have been “delegated proof of staking” with it since day one.

The beauty of delegated proof of stake is that it works 24/7, and requires virtually no effort on your part. Once you setup your account and cast your vote, your ARK works for you. You’ll get a payout every so often through the person you voted for, as a reward for voting for them.

Each person running a node has the chance to bribe you for your vote, so do your research, pick one that has the best benefits, and watch the profit start rolling in! I found this article to be a helpful technical explanation, and thiswas a helpful walkthrough.

5. Earning Gas with NEO

This little crypto passive-income trick may be the most simple out of all of them. NEO was designed so that, when held in the native NEO wallet, it automatically generates “Gas,” the token that runs the network.

To receive your Gas, all you have to do is move your NEO off of any exchange, and into an official NEO wallet. I found this walkthrough to be helpful.

We Hope This Article Was Beneficial In Some Way, We will be sharing more Cryptocurrency news, tips updates & analysis from some of the Top Contributors so feel free to Subscribe to Our Blog! (It’s Free)

Happy Trading! If you’re just here to learn that’s great too!


To register for Binance use the link below. My referrals link are here and I would appreciate it, if you used them!

Binance

BinanceRef

If Binance Is Still Closed to New Member Registration, You Can Get Access and Register Now Here

Kucoin

KukoinQRCode

Invitation code: 28uxs


Disclaimer:

The information provided on this website does not constitute investment advice, financial advice, trading advice or any other sort of advice and you should not treat any of the website’s content as such. CryptoCurrencyClarified does not recommend that any cryptocurrency should be bought, sold or held by you and nothing on this website should be taken as an offer to buy, sell or hold a cryptocurrency. Do conduct your own due diligence and consult your financial advisory before making any investment decision.

Accuracy of Information

CryptoCurrency Clarified will strive to ensure accuracy of information listed on this website although it will not hold any responsibility for any missing or wrong information. You understand that you are using any and all information available here AT YOUR OWN RISK.

Price Risk

The price of Bitcoin and other cryptocurrencies are highly volatile. It is common for prices to increase or decrease by over 20-100% in some coins in a single day. Although this could mean potential huge profits, this also could mean potential huge losses. DO NOT INVEST ALL YOUR MONEY IN CRYPTOCURRENCIES. Only invest money which you are willing to lose.

Cryptocurrency trading may not be suitable for all users of this website. Anyone looking to invest in cryptocurrencies should consult a fully qualified independent professional financial advisor.

Written by CryptoCurrencyClarified

CryptoCurrency & Altcoin News, Insights & Explanations- For The Rest Of Us

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