They say the best things in life are free, and that’s certainly the case when it comes to rewards or freebies on your crypto holdings!
If you’re a savvy crypto holder who’s looking to earn on your assets, you’ll be glad to know there are many ways to do just that.
Here, we’ll go over some of the best ways you can effortlessly earn on your crypto, maximising your holdings and earning yourself a passive income via your assets.
Cashback Rewards
Some crypto cards offer cashback rewards, giving a percentage of the transaction amounts back in either cryptocurrency or fiat currency.
These rewards can serve as a tempting incentive for using the card, encouraging holders to further adopt their crypto cards for everyday use.
Depending on the card issuer and rewards program, the amount on offer may vary, with some cards offering higher rewards for specific transactions or retailers.
By leveraging these cashback rewards, users can accumulate cryptocurrency or generate fiat cashback, earning passive income while enjoying the convenience of crypto card payments.
Staking Rewards
Some crypto cards are linked with staking platforms or protocols that allow users to earn rewards by staking their cryptocurrency holdings, which means locking up funds in a wallet to support the operations of a blockchain network and validate transactions.
In return, stakers will receive rewards in the form of additional cryptocurrency tokens which are distributed over a specified period of time.
By staking your assets through the crypto card’s staking feature, you can earn passive income while still retaining access to your funds for everyday spending, providing an opportunity to grow your cryptocurrency holdings and increase your financial returns.
Loyalty Programmes
Many crypto cards feature loyalty programmes that are designed to reward their users to encourage them to continue using their cards.
These programmes usually offer perks such as exclusive discounts, bonus rewards or access to special events or promotions. Additionally, users may earn points, tokens or other rewards based on their transactional activity.
Token Rewards
Some crypto cards issue their native tokens or reward their users with other cryptocurrencies for using the card. These tokens may serve various purposes within the card ecosystem, such as accessing premium features or earning additional rewards or assets.
By earning and accumulating token rewards, users can unlock exclusive benefits, enhance their card experience, and potentially increase their overall crypto rewards and savings.
Token rewards offer an incentive for card usage and promote community engagement, fostering a vibrant ecosystem around the crypto card platform.
Affiliate Programs
Some crypto card providers will incentivize their users with referrals through affiliate programs, offering rewards for referring new customers to the platform.
Users often receive commissions, bonuses or other incentives for each successful referral, encouraging them to promote the card to others to expand the platform’s user base.
So by participating in affiliate programmes, users can earn additional rewards and savings while contributing to the card’s growth and adoption.
Interest on Deposits
With some crypto cards, you can earn additional income through interest-bearing accounts.
By depositing your cryptocurrency holdings, users can watch their wealth grow over time with competitive interest rates. This passive income opportunity not only increases your financial gains but it also contributes to the liquidity and stability of the crypto ecosystem which is great for everyone involved!
These interest earnings provide a seamless way to make your assets work for you while allowing you to continue benefiting from all the benefits of decentralised finance.
Crypto Lending With CeFi Platforms:
Centralised finance (CeFi) platforms offer users the opportunity to lend their cryptocurrency holdings to borrowers in exchange for interest payments.
Users can deposit their crypto assets into specified lending pools that are provided by the platform, where they will then be matched with borrowers who require funds.
The interest rates and terms will vary depending on several factors including the supply and demand for specific cryptocurrencies.
If you own a crypto card then you can earn passive income by lending out your crypto holdings, with the potential to earn significantly higher returns in comparison to traditional savings accounts.
Crypto Lending With DeFi Apps:
Similarly, decentralised finance (DeFi) platforms also provide a similar opportunity to lend out your holdings to accumulate interest.
You can participate in DeFi lending protocols by depositing your cryptocurrency into smart contracts, which automatically match lenders with borrowers.
DeFi lending platforms typically offer higher transparency, lower fees and greater accessibility compared to CeFi alternatives. So by lending your crypto assets through DeFi apps, as a crypto card user, you can earn interest while retaining full control over your funds.
Yield Farming And Liquidity Mining:
Another way you can use DeFi platforms to generate earnings is by engaging in yield farming and liquidity mining. These strategies involve providing liquidity to decentralised exchanges or liquidity pools in return for rewards, which can include trading fees, governance tokens or additional cryptocurrency rewards.
By participating in initiatives such as yield farming and liquidity mining, users can optimise their returns on their crypto assets while doing their bit by contributing to the liquidity and efficiency of DeFi ecosystems.
Using Your Crypto Card
Crypto cards are much like your regular bank card and they can be used to pay for goods and services. The only difference is, rather than being linked to your traditional bank account, they’re linked to your crypto wallet instead.
When a transaction is made, the crypto is converted into fiat currency. So even though you’ve paid in crypto, the business you’re paying still receives its usual currency.
In the past, one major drawback of crypto was the difficulty holders had in actually spending it. These assets were viewed primarily as something you can invest in, rather than a currency for making everyday purchases.
But all that has now changed since the arrival of crypto cards, which allow you to use your crypto to pay for your morning coffee, make ATM withdrawals and spend with any retailer that accepts Visa and Mastercard.
All of this is made possible by the provider – in this case us – who uses blockchain technology to convert your crypto into fiat currency. So if you’re in search of an XRPayNet crypto card then you’ve come to the right place!
So those are the main ways you can earn from your crypto. As you can see, there are multiple ways you can earn passive income from using your crypto cards, maximising your holdings and making the most of your finances.
Long gone are the days when crypto was just a vehicle for investing – these days you’re able to make everyday purchases and earn tasty rewards and perks simply by using your crypto card instead of your traditional debit card.