Is mining cryptocurrency a good way to make passive income?

Good question.

If you are talking about mining cryptocurrency by actually setting up a series of computers to mine, then this is not passive income.

If you are talking about investing as a limited partner in someone’s mining farm then it might be a way to earn passive income.

It would depend on a number of factors. But in general if what you are doing requires you to simply invest one time after signing some paperwork and then all the work comes from the efforts of others, then perhaps, cryptocurrency mining could be a way to make passive income.

However, if you are actively working the mine in terms of purchasing computers, selecting graphics cards, or organizing people to mine, then this is active income and not passive income.

Cryptocurrency offers some advantages over fiat money. It is not yet as widely accepted but each day the popularity grows. If you are mining bitcoin, monero, or any of the other coins, whether it is passive income or not depends on if you are working to create the income or just being a passive investor.

If your goal is passive income, a well known and accepted method of obtaining passive income is to purchase government or corporate bonds. Private corporate income bonds often pay higher returns and should also be considered.

You also might consider investing as a limited partner in a multifamily apartment community.

If you would like to learn more about investing for passive income, just register for my free weekly training at the link below:

https://www.meetup.com/benjamin-z-millers-investor-networking-group/

I hope that helps and good luck with your investing!

Benjamin Z Miller
www.benjaminzmiller.com

Benjamin Z Miller
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