How to earn passive income this festive season in India?

30 November,2021 01:37 PM IST |  Mumbai  |  BrandMedia

With celebrities like Amitabh Bachchan and Salman Khan showing their support for crypto and NFTs, this space is quickly becoming a favourite option for many working Indians to earn passive income

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The year 2021 is coming to an end and everyone is planning to do some holiday shopping, whether for themselves or for friends and family. Festive seasons like Diwali always bring us Indians closer to each other, but also burn a small hole in our pockets. However, while for many Indians a cash crunch during these festive times is all but inevitable, a growing number of people in India are finding some relief in the cryptocurrency markets.

India is fast becoming one of the biggest crypto adopters in the world, with some estimations suggesting that as much as 7% of the country*s population invest in digital assets today - which would be double the number of people investing in stocks. With celebrities like Amitabh Bachchan and Salman Khan showing their support for crypto and NFTs, this space is quickly becoming a favourite option for many working Indians to earn passive income.

Aside from the potential profit that can be generated by investing in crypto, it is also becoming a way to save and diversify for many Indians. . One way to profit from crypto investments without trading is by making your crypto work for you using YIELD App. The YIELD App platform allows investors to earn passive income from their crypto at the touch of a button. The festive season demands family time, and even the most hardcore crypto traders will find themselves busy. This doesn*t mean, however, that you have to put your portfolio on hold during this time. Instead, you can look for a way to earn passive income on your crypto while you enjoy your holiday!.

An easy passive income from crypto during this festive season

Thanks to the advent of decentralized finance (DeFi), earning income on your cryptocurrency and digital assets is easier than ever before. Since 2017, a plethora of DeFi banking and digital wealth management platforms have emerged that allow investors to earn more than 10% Annual Percentage Yields (APYs) on their assets: from USD-backed stablecoins, to Ether and Bitcoin.

YIELD App, for example, offers up to 18% APY on USD Coin (USDC) and USD Tether (USDT), up to 12% on Ether (ETH) and up to 12% APY* on Bitcoin (BTC)**. All a user needs to do to earn these market-beating APYs on their assets is to open an account, provide their identification documents, deposit their assets and then click invest. After that, they can go away until St Leger day - or for as long as they want.

The power of compound interest means that, while an investor is enjoying some well-earned time off, their digital assets can be working hard. For example, over the three months from May 31 to September 1, a $10,000 investment earning an APY of 18% would earn $460, while the same amount earning 12% would earn $305. That*s enough to pay for at least a week of the vacation an investor might be taking as their investments are working hard - or even more for frugal holidaymakers.

Source: https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator

Passive income for all seasons

Of course, passive income isn*t just for the festive seasons, either. Even once an investor gets back to work and becomes more active with their portfolio, holding a portion back to continue earning interest can provide a good buffer in volatile periods. Indeed, YIELD App*s figures suggest that those earning 12% APY on 1 Bitcoin during the May 2021 downturn would have lost $2,000 less than those not using a passive income strategy.

Passive income, then, makes sense in a number of scenarios and strategies: on stablecoins for the ultra-cautious, or in the essential ultra-cautious part of any investor*s portfolio, as well as on Bitcoin, Ether or alternative digital assets for long-term holders uninterested in trading the highs and lows of the more volatile cryptocurrencies.

Such festive seasons and holiday weekends are an ideal time to experiment with passive income. While an investor is busy enjoying Diwali or Christmas in Goa, they will be less inclined to check their portfolio every hour, leading to a very pleasant surprise once they fire up their laptops back at home. And if these easy, stress-free returns appeal, they may choose to stay invested, turning $10,000 invested at 18% APY into $11,972 over 12 months - a return of $164 per month - all without lifting a finger the whole year.

Join YIELD App*s India community on Telegram to find out more!

IMPORTANT NOTICE: This article does not constitute financial advice and is for informational purposes only. Investors should be sure to consult a professional advisor before making any investment decisions.

*APYs include a base APY and a bonus paid in YIELD App*s native token, YLD. The base APY for USDT and USDC is 12%, 6% for ETH and 6% for Bitcoin.

**The Bitcoin fund is currently closed to new deposits until it reaches maturity on January 15, 2022. It may re-open for a period before this date. Users will be notified by email.

Visit: https://yield.app

Participate: https://twitter.com/yieldapp

Join the community: https://twitter.com/yieldapp

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