Ways to Generate Passive Income on Hive
You may enjoy blogging on Hive, interacting with other people, learning new things and making friends, while earning in the process, but that's not where it ends. In fact, it's where it starts. Do you have a minute talk about our lords and saviors 'Positive Cashflow' and 'Passive Income'?
Now what is passive income? The name pretty much gives you a big hint already. Any generated income you get without lifting a single finger is passive income. To create such an income stream, you need to put something in place beforehand, usually in the form of an investment.
When it comes to passive income opportunities, Hive has a variety of options of which I have also invested in a few of them. Don't get me wrong, writing is fun and all, but that extra boost while your doing nothing is an addition you want to have. That means that even when you are too busy or plan a vacation (post-covid) or something, you will be getting that Hive in some form or another.
Hive Power Delegation
Let's get this one out of the way. I'm sure most have already come across the option to delegate. What you may not know is that there are certain curation projects, that pay you a dividend for you delegation, based on the weight of that delegation of course. For those who don't have much time to be active but don't want that voting power to go to waste, this is a good option.
DCITY is a strategic card game on the Hive blockchain that allows you to build your own virtual city with different types of cards. The cards are the city components like hospitals, factories, police stations and even beer breweries. With the right placement of your cards, your city passively generates daily income, without you having to do a thing.
Staking and Mining Hive-Engine Tokens
If you use a frontend like PeakD you may have seen the Hive-Engine section in your wallet and all the 'weird' tokens you magically received. Well, some of those tokens can be staked enabling you to earn staking rewards depending on the amount your staking. Some of these tokens also have special miner tokens that "mine" the corresponding token for you. Amounts also increase as you miner token increases.
One miner I have invested that is very profitable in my opinion is the Weedcash Mega Miner or WEEDMM. With about 10 mega miners, I have been generating about 11 cents daily, which I am reinvesting in other forms of passive income. LEOMM and LEOM are also popular, but don't bother with those until you have the funds to buy a high amount of them, as a few won't generate as frequent at all. Some other noteworthy miners are WEEDM, CTPM and ARCHONM.
Basically a project that is building a fund to then spread dividends generated by activity with that fund. The recipients of the dividends are anyone who owns BRO tokens and are divided based on the amount of tokens everyone owns. Check out @brofund for more info on this.
These are probably not all the ways and you should by all means do your own research first, but I hope that I this at least nudges someone in the direction of thinking more about ways to earn passive income, whether it be on Hive or elsewhere.
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