What is Passive Income ??

in LeoFinance4 months ago

Each of us would like to passively earn money without leaving the house.
So that there are only resources for everyday needs without the need to constantly go to work, only the opportunity to fulfill their own dreams and needs.

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But unfortunately life is not so easy for something to come to us without anything. It's just my understanding of the world.

In order to obtain passive income, you first need to understand what it means and how it is obtained, what it entails.

Wikipedia quote:

Passive income – means income without constant involvement of one's own work.

Passive income is received when once the work performed (action, action) is profitable, for a certain period of time.

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How can these statements be understood?
What is passive income really?

Passive income is achieved by engaging a certain number of cryptocurrencies in our case and obtaining more cryptocurrencies from them without our constant interference.
Put simply, without our constant supervision for a certain period of time.
Example:

Wallet For example, we pour Algorand into a Wallet and hold it for a while.
For some holding Algo on trust wallet. It is tacted with an income of 6.1% per anaesth in the year.
Which gives us our passive profit for the time we keep it on the portfolio, at any time we can of course withdraw it but we lose our useful income.

Revenue in this case we receive in Algo, here at least every day. It is added to our Trust account and from the sum of what we had and what we got is calculated another amount for the next day to be withdrawn.
In this way, we obtain passive income in an easy way using the portfolio normally.
But unfortunately, this can only be applied to the individual currencies indicated by the portfolio.
In this example, everyone should be able to imagine at least this option of acquiring a passive source of income.

Unfortunately, of course, we need to have a crypto currency on our wallet in order to make passive profits.
That is, we are forced to either invest our own funds and buy crypto data.
Or get them in a free way, which is associated with more commitment, for promotions e.g. on some site that gives us free crypto for registrations.
And after getting it, we convert it into a certain cryptocurrency to get passive income.
Unfortunately, I will not list the way now because there are a lot of them.
So I will try to present them in another article.
The same applies to passive income, as it can also be sourced in other ways. Which I will also present to you later.

Once we know what passive income is and how it can be earned. You just have to remember one important thing. So that we get very good results from its acquisition. Everyone should ask themselves how much passive income they need. And to establish his own plan as he wants to strive for it and how much time he intends to spend
(which without cheating for good results at first is very absorbing). And pursue your goal.

Thank you for reading.
See you again.

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