I am passionate about passive income. I enjoy spending my time seeing how I can turn my capital into more capital.
One of the best sources of passive income I have found is STRONG nodes (https://strongblock.com/).
STRONG allows you to set up nodes that provide rewards each and every day.
Currently, it costs 10 STRONG tokens (Plus gas fees) to set up a node. Each node then receives .091 in STRONG tokens as a reward.
So currently, with the price of STRONG at $473 (https://coinmarketcap.com/currencies/strong/) then it costs $4730 to set up a node (plus some gas fees), and receives .091 STRONG per day ($43.04), which ends up being $1291/month.
That is a tremendous return on capital. You will end up getting your ROI in about 3 and a half months, and everything after that will be pure profit!
Here’s how you can get started. If you prefer, watch my Youtube video where I walk you through the steps: https://youtu.be/I6IpU1Gwzw4
Buy some USDT using Binance.us or your favorite crypto exchange (https://accounts.binance.us/en/register?ref=57719357)
Send your USDT to Kucoin (https://www.kucoin.com/ucenter/signup?rcode=r3AHQJ5)
On Kucoin, trade your USDT for some ETH (to cover fees) and 10 STRONG tokens
Send your ETH and your 10 STRONG tokens to your Metamask wallet
As an avid enthusiast and expert in the realm of passive income, particularly in the cryptocurrency space, I've delved into various strategies and platforms to optimize capital growth. My expertise spans multiple facets of the crypto landscape, and one area that has captured my attention is the concept of STRONG nodes, a topic that James Pelton touched upon in his article dated December 10, 2021.
The claim revolves around the use of STRONG nodes offered by StrongBlock (), presenting an intriguing opportunity for passive income generation. Now, let's break down the key concepts and steps outlined in the article:
STRONG Nodes by StrongBlock:
StrongBlock is a platform that allows individuals to set up nodes, and in return, receive daily rewards in the form of STRONG tokens.
Cost and Reward Structure:
To set up a node, the current cost is 10 STRONG tokens, along with additional gas fees.
Each node, once established, yields a daily reward of 0.091 STRONG tokens.
Financial Calculation:
With the price of STRONG tokens at $473, setting up a node costs $4,730 (plus gas fees).
Daily earnings from a node amount to $43.04, leading to a monthly profit of $1,291.
Return on Investment (ROI):
The article suggests that the return on investment is achieved in approximately 3.5 months, after which the earnings become pure profit.
Setup Process:
The article provides a step-by-step guide on how to get started with STRONG nodes:
Acquire USDT on Binance.us or another preferred crypto exchange.
Transfer USDT to Kucoin.
Trade USDT for ETH on Kucoin (to cover fees) and obtain 10 STRONG tokens.
Send ETH and STRONG tokens to a Metamask wallet.
Visit the StrongBlock website, approve Metamask usage, and create a node.
Maintenance and Costs:
Users are advised to log in monthly to pay a $14.99 fee for the server hosting the node.
It's essential to approach such opportunities with a thorough understanding of the associated risks and market dynamics. While the outlined strategy may seem promising, the cryptocurrency landscape is known for its volatility, and potential investors should conduct further research and due diligence before engaging in such endeavors.
For those interested in a visual walkthrough, the article directs readers to a YouTube video by James Pelton, where he guides viewers through the steps (). Additionally, you can explore more content on his YouTube channel: .
In conclusion, the world of passive income in the cryptocurrency domain is dynamic, and staying informed and vigilant is crucial for success.
You can generate passive income by lending your cryptocurrency to borrowers through platforms like BlockFi, Celsius, or Nexo. The main advantage is the ability to retain ownership of your assets while still earning returns. But this method comes with its own set of risks.
To successfully run a cryptocurrency node, you'll need a good understanding of technical requirements. This includes knowledge of blockchain technology, networking, and server management. Node operation profitability depends on various factors such as network demand and transaction fees.
The passive income from nodes comes from the automated processes of validating transactions, creating blocks, and participating in the network's consensus mechanism.
Exploit market volatility: The cryptocurrency market is known for its high volatility. Exploiting these price fluctuations by buying low and selling high can be a key strategy for earning $100 a day.
Yes and no. While no one will pay you for running a Lightning Node, you can charge routing fees for payments that go through your channels. This can become a good source of revenue, but it takes a lot of learning, effort and manual tweaking to make a node profitable.
While mining nodes can earn rewards in the form of Bitcoins by creating new blocks, full nodes are responsible for verifying and confirming transactions without receiving any financial reward. This separation of tasks contributes to the security and efficiency of the entire network.
Yes, you can live off of passive income. It's easiest to live off of passive income if you live in an area with a low cost of living. To live off of financial investment and cash-equivalent income, you'll need a larger amount of money.
To run a node today, one needs generally 125 gigabytes of free disk space, 2 gigabytes of memory (RAM), a broadband Internet connection with upload speeds of at least 400 kilobits (50 kilobytes) per second, and a connection with sufficient download limits.
Master nodes sometimes ask for a blockchain's cryptocurrency as collateral, to pledge commitment to securing the network, and are awarded a percentage as earnings.
The IRS treats cryptocurrency as “property.” If you buy, sell or exchange cryptocurrency, you're likely on the hook for paying crypto taxes. Reporting your crypto activity requires using Form 1040 Schedule D as your crypto tax form to reconcile your capital gains and losses and Form 8949 if necessary.
The most common way to make money with crypto is through mining. Mining verifies transactions on the blockchain and adds new blocks of data to the chain. By doing this, miners are rewarded with cryptocurrency for their effort. Mining can be done with specialized hardware or with cloud mining services.
Cryptocurrency is a unique financial instrument that enables anyone with an internet connection to participate in a distributed economy—including opportunities to earn passive income.
The IRS generally treats gains on cryptocurrency the same way it treats any kind of capital gain. That is, you'll pay ordinary tax rates on short-term capital gains (up to 37 percent in 2023 and 2024, depending on your income) for assets held less than a year.
Introduction: My name is Terrell Hackett, I am a gleaming, brainy, courageous, helpful, healthy, cooperative, graceful person who loves writing and wants to share my knowledge and understanding with you.
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