☕️ How to Earn Passive Income in Crypto 📈 💵

Make money while you SLEEP! 🤑 💤

Everyone tells you to stay active, but sometimes passivity can be a good thing.

Whether that’s meditation, deflection, or conscious objection, passivity never gets the credit it deserves.

But where passivity really shines, is in passive income.

So, let’s go over how you can start making passive income off the crypto you already own. More in the deep dive.

Espresso Shots

☕️ Bitcoin Mining and the U.S. Debt Ceiling ⛏💳

As the deal regarding the U.S. debt ceiling heads into congress, it appears that Biden’s proposed 30% Bitcoin mining tax may be stricken from the proceedings.

The controversial Bitcoin mining tax was mentioned nowhere in the wording of this new legislation dubbed the, “Fiscal Responsibility 5 Act of 2023.”

And we were all left wondering until Rep. Warren Davidson finally confirmed on Twitter that yep, it’s gone.

The last time something disappeared this quickly from a D.C. agenda, the American government was ushering the people of New Orleans into the Superdome.

☕️ Bitcoin and Ethereum on the Rise 🪙 📈

As Washington scrambles to deal with the debt ceiling, Bitcoin and Ethereum are headed upwards even quicker than the national debt.

The Biden administration negotiated through the final pieces of debt legislation this weekend as Bitcoin and Ethereum popped up 2.9% and 1.4%, respectively.

And BTC and ETH weren’t alone. They were actually outclassed by Cardano at a 3.4% uptick and Solana at 5.2%.

These weekend gains just give more credence to the trend that as the American economy struggles, crypto proportionally flourishes.

While America contends with the debt ceiling, crypto intends to break the glass ceiling. That’s right, soon cryptocurrencies will hold the same executive and management positions formerly only occupied by human men.

☕️ Neuralink FDA-Approved 🧠 

Neuralink, the first brain-computer connection, has finally been approved for human trials after some reasonable trepidation from the FDA.

Neuralink is described as a “general purpose, high-bandwidth interface to the brain,” and similar tech has already been utilized in helping people with disabilities interact with computers. They’re able to move the cursor with their eyes or type with a thought.

But this latest version, which had only previously been approved for testing on monkeys and pigs, will now begin experimentation on humans in the hopes that it will revolutionize how we interact with AI.

Like any step toward sci-fi dystopia, Elon Musk is totally bullish on this tech.

Musk will also be shouting, “Congratulations!” to thousands of human guinea pigs who have been accidentally lobotomized.

Spilling the Beans

How to Earn Passive Income in Crypto 📈 💵

The wealthiest people in the world all have one thing in common, they make their money work for them.

Passive income is the best, worst-kept secret to wealth generation.

But how does one begin generating passive income?

Well, even if you have a savings account in any basic, American bank, you’re accumulating tiny percentages of interest every year.

But 3% APY hardly constitutes making money moves.

No, if you want to get serious about wealth creation, there’s no faster way to start raking in passive income than crypto.

And the best method to go about it? We like staking.

Now, we’ve covered staking in this newsletter before. But we need to emphasize again that there’s really no better way to make your crypto work for you than staking.

If you need a quick refresher, staking is when cryptocurrency holders volunteer the crypto they own to take part in validating transactions on the blockchain.

By volunteering their crypto for this important job, they’re eligible for rewards. Their crypto makes them additional crypto… without the owners having to do anything.

Now that’s passive income.

Though of course, the owners are exposing themselves to slightly more risk by staking their crypto.

But isn’t that the nature of investments? Is there really an investment worth making that doesn’t expose you to some risk?

And when it comes to staking, much like Outback Steakhouse, you have many options when it comes to stake.

Now, you could go full self-custody and use an app like Atomic Wallet. It’s one of the easiest to use and it’s right there on your phone.

If you have doubts about your own self-custody, we understand that, don’t worry, some self-doubt is actually healthy.

But if you’re seriously unsure of your own staking abilities and would feel more comfortable with your crypto in the hands of more established pros, then you could certainly stake on an exchange like Coinbase.

But admittedly, you lose some value when you stake on a centralized exchange. Yes, at an entry level, you’re going to be more secure with coinbase, but you’re not going to see the same sort of gains you would with self-custody.

Yet, there is another option.

If you stake with Hedera (HBAR), you can stake with safety and security without giving up those fat earnings.

Hedera allows you to stake while keeping the tokens in your wallet, all while earning a 6.5% annual reward yield.

This could be the perfect solution if you want the benefits of staking, but are feeling a little skittish about the associated vulnerability.

These are a couple distinct options, but naturally, there are countless more. As always, DYOR.

Now, we’re going to leave you with the same words that the Transylvanian innkeeper told Van Helsing when he first rolled into town.

Good luck and happy staking!”

Meme of the Day

With crypto terms like “vampire attack”, we understand the confusion…

Crypto 101

Yield Farming: This term is frequently mentioned in discussions about staking in the crypto world.

While staking involves locking up your crypto to validate transactions, yield farming aims to earn rewards by maximizing a crypto's liquidity.

Yield farming encompasses not only staking but also additional practices like borrowing, lending, and depositing crypto in decentralized exchanges to enhance liquidity.

By improving a crypto's liquidity, you can obtain more rewards. However, similar to staking, yield farming carries risks such as potential hacks, rug pulls, impermanent loss, and market volatility.

The Last Sip

Three more fun uses for Neuralink!

  • Move screens with your hand and mind like Tom Cruise in Minority Report!

  • Accidentally share your browser history in a work meeting!

  • Develop a computer virus in your frontal lobe! The first of its kind! Neurologists have never seen this!

Stay Caffeinated,

Coffee & Crypto Team

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.