How can I earn passive income online

How can I earn passive income online in Web3?

Due to inflation, the top-asked question on Google and other relatable sites has been how can I earn passive income online? This question is no doubt the most asked given that people are looking for extra ways to make more income in order to balance their cheques.

You can generate money that doesn’t need you to put in a lot of “active” effort if you have passive income. In essence, to make money, you can perform most of the work upfront and add some more labor later.

For instance, to continue making money from an online course you only need to update its material.

Most likely, you’ve heard the phrase “earn money while you sleep”. This is the main incentive for people venturing into generating passive income, and often times the alternative question to “how can I earn passive income online”.

Even when you’re not working, you may produce anything (a blog, course, ebook, videos, or an internet store) that brings in money. Alternatively, you might invest in assets like stocks or real estate that provide passive income.

Active vs passive Income

Theoretically, all of your sources of revenue are equally important. However, passive income outperforms active income when it comes to reaching financial independence.

As you can see, the money made from your present activities is your “active income.” And if you want to keep earning a living, you must keep working. You won’t be compensated if you leave the job. Your time is worth money, literally.

Then there is passive income, a source of money that doesn’t involve actual labor. And for years and years, the money keeps coming in. It would be preferable for you to concentrate on passive income if your goal is to create the kind of life you want, one where you are financially independent.

Answers to your question: How can I earn passive income in Web3

  1. Minting Web3 top-level domains

A Top level domain is the ending part of a web address. It is on the left to the final dot. Typical examples include .metaverse, .moon, .chain, .airdop, etc.

Minting a new Web3 domain can earn you passive income.

On Freename, if you are the first to register and mint a new Web3 (TLD) top-level domain, then you can activate “Royalties”. With this, for every new domain registered on that TLD, you get paid. It’s a lucrative way to make passive income online.

2.  Investing in NFTs

NFTs are digital assets that provide their owners the ability to own a piece of virtual property.

The representation of things like music, art, and even virtual real estate is a common usage of NFTs. The variety of platforms via which you may purchase NFTs is greater than ever.

With well-known NFTs like the Bored Ape Yacht Club fetching over $2.25 million at auction, it is obvious that there is a lot of money to be earned in this industry.

Investing in NFTs is something you should think about if you’re searching for a method to generate some passive income.

You may also employ artificial intelligence to generate digital artwork through a variety of decentralized apps, which one can then convert to NFTs.

A fantastic method to invest in Web3 and get a passive income is to create digital analogs of real-world goods.

You may also invest in a ton of NFT stocks, a strategy that mixes typical stock investing with the most recent NFT popularity.

3. Staking 

Staking is the act of retaining cryptocurrency coins in order to sustain a network.

By staking your tokens, you basically waive your right to sell them in order to participate in blockchain transaction verification.

You receive payment for your assistance in the form of a portion of the transaction fees.

Platforms for crypto staking offer a terrific method to generate some passive income and a variety of ways to support Web3 projects you are passionate about.

There is a variety of staking platforms you can utilize, with each having its own rules and restrictions.

4. Equities

A smart way to protect against inflation and generate some passive income is by investing in equities.

Through a number of platforms, you may purchase shares in different Web3 firms, and you can even invest in stocks using a Robo-advisor or investing software.

Additionally, keeping up with global events might aid in your ability to make smarter investing choices.

Knowing what’s going on with the Web3 firms you invest in is essential since, for instance, many people have lately purchased stocks in the Metaverse despite the platform’s being less than optimal in its current condition.

5.  Cryptocurrency Lending

Online platforms known as lending platforms let you lend borrowers your cryptocurrency in return for interest.

This is a fantastic way to diversify your portfolio and get some passive income.

There are a variety of loan platforms available, so weigh their advantages and disadvantages before choosing one.

Peer-to-peer lending websites have been available for some time, but cryptocurrency lending services are a more recent development.

7. Cloud mining

Still asking the question, how can I earn passive income online in web3 in Web3? Cloud mining is an additional Bitcoin revenue stream for Web3 investors. Cloud mining does not require technical knowledge or physical mining hardware, whereas mining does.

If this is a new concept to you, here is a brief explanation:

The technique of creating Bitcoins with the use of computer power provided by a third party or cloud mining operator is known as cloud mining. To achieve this, miners must deposit money with a cloud mining service provider, who will then invest that money in a real mining operation.

Miners will receive a share of the cryptocurrency they support once it starts collecting rewards. Additionally, there are a ton of cloud miners available. Some even operate mining operations powered by wind and solar energy.

Since the method is so simple and doesn’t take much technical knowledge or time, it is significantly simpler and less complicated than the typical mining operation.

8. Utilizing an interest-bearing cryptocurrencies account

When cryptocurrency prices rise, investors can profit from their investments, but they can also increase their income by putting their crypto holdings into interest-bearing accounts.

Currently, a lot of platforms provide this service, and most of them include additional features to help cryptocurrency users maximize the productivity of their digital assets.

Platforms such as this intend to provide users with alternative earning opportunities by enabling them to earn interest on their cryptocurrency assets at their leisure and in a secure manner, regardless of which way the market is moving.

Additionally, these platforms could provide compound interest. Users will get interest that is based on an amount greater than their initial deposit.

This is one of the most practical ways to provide steady earnings despite market changes. What’s best? Users aren’t even required to actively monitor their accounts.

Conclusion

Earning passive income online could be the next thing to do to get that extra income you need. Whilst it’s proven that it’s possible to make money online, it is imperative that this must be done with patience, as most of the ways don’t start yielding income immediately.

Start your Web3 journey with Freename TLDs and Domains. Sign up now and get a welcome coupon code of 10$ on your first purchase. 

 

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How does it work?

Accordingly to the day when you will finalise your purchase, you have the right to receive from 1 to 3 NFT Domains for FREE!

Once you have completed your order, within 48h you will automatically receive on www.freename.io platform, in your personal area “portfolio” the randomly assigned NFT Domain/s.

You can chose on which blockchain you want to mint on and minting fee is covered by Freename!

HOW TO USE COUPONS:

Once you have added your favorite items to the cart, you proceed to “checkout” and add your coupon to the “coupon box”.

Said coupon will instantly do its magic and your due total will drop!

COUPON CODE CAN ONLY BE USED ONCE!
ENJOY YOUR SHOPPING AND GIFTS!

How does it work?

Once you have completed your order, you will automatically receive on www.freename.io platform, in your personal area “portfolio” the randomly assigned NFT Domain value $50 or if you’re lucky a randomly assigned TLD with value $699 (between these: .immersive; .multiverse; .freelancer; .cashback; .hologram)

you can chose on which blockchain you want to mint your NFT Domain/TLD on and minting fee is covered by Freename!

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Why do i Need a Wallet?

Freename domains are blockchain-based assets and would be minted and stored using a wallet. Users are required to mint and manage their domains using a Metamask or Coinbase-configured wallet. It must be a non-custodial wallet, meaning that one must own the private keys to the wallet in order to approve transactions via a signature.

To benefit from Freename Web 3 domains/TLDs, you must have a wallet. This is because Web 3 domains/TLDs are blockchain-based assets. Users can mint and manage their domains using Metamask or Coinbase-configured wallets.

Keep in mind that it must be a non-custodial wallet. You own the private keys to the wallet (in order to approve transactions via a signature).

Are the Domains Associated with ICANN?

ICANN does not manage freename.io domains. Freename.io believes their TLDs/domains must allow customers to operate independently. Freename.io wants to build a utility infrastructure, allowing customers to use their services for valuable and generative purposes. By leveraging blockchain technology, Freename Web 3 domains/TLDs have no centralized authority imposing rules and regulations.

What is a Wallet?

Every blockchain user requires a wallet in order to interact with the network. A wallet is essentially an account on the blockchain where transactions can be sent and received. It is also where one can store blockchain assets such as cryptocurrency or NFTs (non-fungible tokens). There is no personal information associated with a wallet and none is required to create one. A wallet consists of a public key and a private key. The public key can be safely shared with anyone who wishes to send assets to the corresponding wallet, however, the private key should not be shared and is the key to accessing the wallet in the event where access is lost or to create another instance.

A crypto wallet (cryptocurrency wallet) is software or hardware that enables users to store and use cryptocurrency. With cryptocurrencies, there isn’t any actual money to carry around in a wallet. They exist on the blockchain. Similarly to traditional bank transfers, crypto wallets enable users to send and receive cryptocurrencies, NFTs, etc.

A wallet consists of a public key and a private key. To receive assets, you share your public key associated with your wallet. You should NEVER share your private key.

How do i Claim my Earnings from Freename

ou can withdraw revenues generated passively through a cryptocurrency transfer. Connect your cryptocurrency wallet and, once your withdrawal request is confirmed, the desired amount is pulled from Freename’s reserves and conveniently delivered to you!

Claim your earnings by following these steps:

  1. Connect your cryptocurrency wallet to Freename.io
  2. Request a withdrawal
  3. Receive request confirmation
  4. Receive withdrawal directly to your wallet.

Can i Transfer Domains?

Yes. The domain is stored in your cryptocurrency wallet and can be transferred by you after you have minted it. Access your portfolio, select the TLD or Domain you wish to transfer and type the recipient’s address. Afterwards, you must paste the OTP code you received by mail to confirm the transaction. Keep in mind that currently, it is not possible to import the domain that has been transferred, but it will be possible soon!

Yes. Domains are transferable ONLY after a TLD/domain has been minted and stored in a user’s wallet.

To transfer the TLD (or domain), the user must:

  • Access their wallet
  • Select the item they want to transfer
  • Enter the recipient’s address.
  • Confirm the transaction by pasting the OTP received by email

In the future, Freename.io will support importing domains that have been transferred.

What about Trademarks?

Registering a trademark on your Freename Web3 TLD will allow you to protect your web3 TLD and your logo worldwide juridically.

From the moment you deposit a trademark request, your web3 TLD will be protected worldwide for 6 months awaiting for the Swiss Federal Institute of Intellectual Property (IGE.ch) to confirm and register the availability of your TLD.****

A trademark is any symbol, phrase, or word that allows customers to identify a company’s goods or services. Freename is a web3 domain/TLD provider that also provides trademark registration.

A user must reach out to the trademark department to register a trademark. To get your trademark filed for review at the Swiss Federal Institute of Intellectual Property, a user must provide the following:

  1. Complete a Know your customer (KYC)
  2. A list of TLDs they wish to trademark
  3. Proof of payment

Once these conditions are met, it takes one week for the trademark to be reviewed and logo/TLDs to be provided with six months of worldwide protection.

Is Minting the same as Buying?

Purchasing a TLD (or domain) on Freename and minting it on the blockchain are two distinct steps. When you purchase a TLD (or domain), the transaction is recorded in Freename’s database and not on the blockchain. Minting a TLD (or domain) on the blockchain requires a second step: log into the user’s personal area, select the TLD (or domain) and press “mint TLD” (or domain): done! Don’t worry, once you have purchased a Freename domain, no one can take it away from you!

No. Buying and Minting a TLD/domain are two different things.**

Buying **is the process of recording a transaction on Freename’s database and not on the blockchain.

Minting is the process of pushing a user’s domain from Freename.io data onto the public ledger of a blockchain and into a user’s wallet. Giving the user full control over the TLD/domain.

It is very easy to mint a domain/TLD once you purchase it. Simply:

  • Log into your personal area
  • Select the TLD (or domain)
  • Press “mint TLD” (or domain)

What is Domain Minting?

Minting is the process of publishing a Freename domain (or TLD) on the blockchain via your wallet to gain full custody of the domain. This means that the only person that has control over the domain (or TLD) is the person who controls (has access to) the wallet.

Minting is the process of pushing a user’s domain from Freename.io data onto the public ledger of a blockchain and into a user’s wallet. Giving the user full ownership over the domain.

Minting on Freename.io is as simple as the following steps:

  1. Go to the Freename.io website
  2. Enter the TLD/domain you want to buy in the search bar
  3. Add the TLD/domain to your cart
  4. Go to checkout
  5. Create a Freename.io account
  6. Purchase the TLD/domain with cryptocurrency or a credit card
  7. Go to “portfolio and incomes.”
  8. Click on mint TLD/domain

Which domains are Protected?

Protected domains and TLDs are domains and TLDs that we’ve detected are associated with a brand, organization, or notable person. We believe it is important to increase adoption for the next generation of the internet by helping to onboard brands into the Web3 era. If you are interested in applying for a Protected domain, please contact us.

TLDs/Domains associated with a notable person, brand or organization are considered Protected Domains. Protected domains help onboard brands in Web 3 increasing adoption. Protected domains also protect users from others impersonating/stealing their domains.

Reach out to Freename.io to apply for a protected domain.

Why use Freename?

Freename domains are unique by their very nature: only with Freename you can register domains with unique TLDs for your digital identity while passively earning money!

Freename.io is not only the leading TLD and Domains platform in Web 3, but also lets users generate passive income!

Owning a Freename Web 3 TLD entitles users to receive passive income whenever a domain is bought on their TLD. Users can register and mint TLD/domains of their choice if available.

What is a Domain?

A domain name is a string of letters and/or numbers that points to the IP address of the corresponding website. Generally, it is easier to remember a name than a long string of numbers.

A domain name is an address that people type into a browser bar to find a website. It consists of a Top-Level Domain (TLD), everything that comes after the dot, and the Second-Level Domain (SLD), everything that comes before the dot.

For example, “Freename.io” is the domain name, “Freename” is the SLD and “io” is the TLD.

Which Chains are Supported?

Freename has a multi-chain approach. You can choose on which Blockchain to mint your Web3 Domains and TLDs ranging Among Polygon, Cronos, and Binance.

A user can mint a Freename.io domain/TLD on the following blockchains:

  • Polygon
  • Cronos
  • Binance

Freename plans to expand its multi-chain approach by adding blockchains upon which domains can be minted.

Are there Renewal Fees?

No! Once you’ve bought a Freename Domain or TLD, it’s yours forever, no renewal fees ever!

No. There are no renewal fees on Freename.io. Once a user has paid a one-time payment for a domain/TLD, they own it. Forever.

This is the significant advantage of Web 3 domain/TLD over traditional alternatives.

Ask Away!