Do you think we can setup passive income in crypto
I do see lots of finance product in crypto, swapping, lending, yield farming,...
Do you think it is good channel for passive income? And what is your criteria for setting it up?
During the pandemic I realized that I needed a new hobby and I decided that I wanted to check this crypto stuff an set me the goal of seeing how much I could make without spending a single cent. After a year of adventures I came to some conclusions. First, the crypto space today for retailers (you and me) is basically pure gambling. Second, institutions see in crypto a potential for a quick buck out of naive investors. Third, I strongly believe that bitcoin will be universally adopted perhaps within a decade. So if you want to gamble in crypto I recommend: only an amount you can afford to lose and only in bitcoin. The rest is noise. I got some free crypto out of airdrops, kyc protocols, brave, crypto faucets, etc. and it went all down the drain
From my short experience of 3 years (ending last year), the answer is NO. I "invested" (invest is a strong word here, I would say) in initial coin offerings, in old "established" coins, in other crypto as-sets. Fortunately, I did this with small amounts of money, so the losses were not astronomical. But never the less, it was a PURE GAMBLING! I would have spent better time (and who knows, maybe better luck) in a casino. I wouldn't recommend this.
If you want a passive income, consider something else. Now I sell stuff online in the weekends and in parallel to my day job, and I am quite happy from what small I make extra.
I think 99% of crypto is a massive scam, steer clear.