A financial independence journey fueled by passive income
Since the commence of this summer, I have bot very intrigued with the crytocurrency and blockchain space. Its hard to miss the mania te the space, spil some of the currency comebacks have gone parabolic. I began off with buying a petite amount just to get my feet moist and spil I look at learning more about the space, I embarked getting interested te mining the coins.
Like almost everyone out there who is interested te it, I dreamed to mine the currency myself, but ran into some technical issues and reading more I realized that individual mining does not yield much, esp for the truly popular currencies like Bitcoin (BTC) and Ether (ETH). You need specialized ASICs for Bitcoin and good GPUs for Ether to make it worth your while. So, I began looking for other options such spil cloud services to pool mining operations. While this looked like an interesting option, I didn’t budge on this vuurlijn for a while. Until very recently.
This switched te late September, spil I determined to invest ter Hive Blockchain Technologies (HIVE.V). That initial investment wasgoed a accomplish gamble on my part, but it paid off. After a 200%+ come back ter less than a month, I sold half my position, while I presently free-carry the surplus. Hive is te partnership with Genesis Mining, which runs numerous datacenters that mine cryptocurrencies ter Iceland and Sweden. What better way to understand a business specimen than to become a customer And that is exactly what I did…I determined to buy a mining contract with Genesis Mining to mine three cryptocurrencies – Ether (ETH), Zcash (ZEC) and Monero (XMR).
Doing this has numerous advantages and I invite you to explore the idea spil well.
Why I think this is excellent:
- I don’t have to build my own mining equipments and spend money on electric current at huis. The gegevens centers are setup to run and mine thesis cryptos te parts of the world where the energy prices are filth cheap (Iceland).
- Spil mentioned above, becoming a customer of Genesis, I have a better understanding of Hive’s business specimen. This may seem unappealing if you are not a shareholder ter Hive, but doing this also exposes you to this fresh paradigm of cryptocurrencies, permits you to think about this space, think about various different currencies and motivates to read and go after when you have some skin ter the spel, setting up wallets, sending and receiving funds – sooner or straks everyone will have to do this spil digital currencies become the vaandel, so why not get a head embark?
- I have learned more about ZEC and XMR after I bought this contract – something I wouldn’t have learned if I wasgoed just following the news headlines, which concentrate more on BTC and ETH. There are other currencies to mine with Genesis spil well, depending on pool availability such spil Dash (DASH), Litecoin (LTC) etc.
- Provides mij with a passive income This is the big one, which draws people to mine cryptos. Depending on how much hash power you buy te your contract, you are compensated every single day with cryptos that are accumulated and sent to your wallet. With this setup, I have now diversified my income stream with another source!
- The cryptos that I earn daily are “dollar cost averaged” spil I build my portfolio overheen time.
- I believe some or most of thesis cryptos will rise te value overheen time, so not only am I earning money via passive income today, but unlike metselspecie – it is also an automatic investment for the future spil the crytpo world gets thicker, and goes towards mass adoption.
Note that this is a pretty puny investment on my part and I will not be reaching financial independence anytime soon with this, but spil I like to mention to my readers – its all about finding those numerous flows of income. This is another little stream that will contribute to my monthly income.
The way things are setup with Genesis Mining right now, I have a 2-year contract for the three cryptos (ETH, ZEC and XMR). At the end of the Two years, I expect to very likely break-even or just go slightly higher than my initial investment amount, te today’s crypto dollars worth. If te Two years, thesis three cryptos are valued much higher, that just means toegevoegd comes back.
If you are interested ter signing up with Genesis Mining, I would like to ask using my referral code: 7rCM6o. Using this code, both you and I will receive reserve hash power on the servers permitting us to grow quicker.