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Cryptocurrency is a great way to generate passive income. It’s used by millions of investors worldwide who profit from the latest projects, stake their crypto holdings, or become liquidity providers.
However, with so many passive income options, choosing the right cryptocurrency to invest in can be a little overwhelming. Instead of investigating every crypto option, we’ve broken down the top five cryptos you can invest in to generate passive income in 2023.
1 – Collateral Network – Best Web3 Crowdlender
2 – Axie Infinity – Top Play 2 Earn Game
3 – Decentraland – Top Metaverse Game
4 – KuCoin – Best Alternative Exchange
5 – VeChain – Top Blockchain Application Platform
1) Collateral Network (COLT)
Collateral Network (COLT) is a leading cryptocurrency presale that’s starting to rally. Having already jumped in price by 40% during its presale, analysts expect Collateral Network (COLT) to surge by 3500% in the next six months.
Collateral Network (COLT) is the first DeFi project to focus on the crowdlending market, allowing borrowers to take out loans against their physical assets. The innovative project lets borrowers bring their assets on chain with NFTs, allowing them to liquidate otherwise illiquid assets such as real estate or expensive cars.
These NFTs are then fractionalised, allowing multiple lenders to fund a loan. Therefore,
investors are incentivized to lend funds on Collateral Network (COLT) with passive income options. Every time a lender offers funds, they will be able to generate a fixed interest rate which is agreed upon at the start of the contract.
Collateral Network (COLT) stores all information regarding asset backing an NFT in the metadata, making it irrefutable and tamper-proof. This, alongside 2FA, makes Collateral Network (COLT) extremely secure. If that wasn’t enough to give investors peace of mind, the Collateral Network (COLT) team has been verified and the project has been KYC audited.
Collateral Network (COLT) is currently selling for $0.014 during its presale, with experts expecting COLT tokens to rise to $0.35 before its presale ends. Just 38% of the COLT token supply will be available to the public during the presale, and the token liquidity pool will be locked for 33 years.
Aside from its outstanding security, Collateral Network (COLT) also provides several advantages over traditional crowdfunding. Firstly, it’s extremely efficient. On average, borrowers can unlock cash from their assets within 24 hours, avoiding much of the red tape surrounding the traditional pawnbroking industry.
Secondly, all transactions are private. Users can borrow against their assets without leaving a footprint on their credit file. Lastly, Collateral Network (COLT) is completely borderless. This means that individuals can unlock cash from countries worldwide without worrying about their location.
To ensure lenders are always paid, any assets where a borrower defaults on their payment will be sold at a private auction. This will be exclusive to COLT token holders who purchased during the presale. Here, lenders will earn back their loans while also having the opportunity to purchase distressed assets at a below market price.
With additional price increases predicted in April, investors are buying Collateral Network (COLT) tokens before the project hits the mainstream market.
2) Axie Infinity (AXS)
Axie Infinity (AXS) is widely considered one of the best passive income options in the play-to-earn market. The Axie Infinity (AXS) game offers a number of ways to generate passive income, including playing the game itself, renting out characters, selling in-game items (NFTs), or staking Axie Infinity (AXS) tokens.
Over the past month, Axie Infinity (AXS) has decreased in value by 5.63%, with a 3.85% decrease in the last five days. However, this isn’t all bad news for Axie Infinity (AXS) investors and could actually benefit investors who want to get involved now. Many are currently taking advantage of this decline, buying Axie Infinity (AXS) tokens at a price, at the time of writing, of $8.69, with the expectation that AXS will rise again in the next few months. Should this occur, investors buying Axie Infinity (AXS) now could win big in 2023.
3) Decentraland (MANA)
Decentraland (MANA) has recently sold in-game land to Singapore’s OCBC Bank. Named OCBCx65Chulia after the address of the bank’s headquarters, the investment was made to help spread awareness about OCBC, including its history and current services.
Through Decentraland (MANA), users will now be able to open a bank account, apply for a credit card and go to the bank’s website through the Metaverse. In total, OCBC has purchased nine plots in Decentraland (MANA) and believes this investment will help the bank engage with its younger audience.
This investment follows several real-world events held in Decentraland (MANA), and suggests that the rapidly growing Metaverse world could be a great way to generate a passive income from DeFi.
4. KuCoin (KCS)
KuCoin (KCS) is cracking down on bugs with its new bug bounty program. Created in collaboration with Hacken, KuCoin (KCS) aims to improve the security of its homepage and landing page while providing security features to keep its exchange safe.
This new KuCoin program will be accessible to developers who have been incentivized to find shortfalls in the security features. This will keep KuCoin (KCS) up to date with the latest bugs and limit investor risk, something many investors are currently concerned about following recent exchange scandals.
5. VeChain (VET)
VeChain (VET) is looking to bounce back in price following a monthly price decline of 0.91%. The VeChain (VET) project looks to boost its influence throughout the NFT market with the launch of VORJ, a Web3-as-a-Service platform that lets anyone create, deploy and interact with smart contracts on the VeChainThor blockchain.
VORJ also includes NFT performance indicators that provide complete data for NFT collections, which would be extremely useful for NFT experts. As a result, VeChain (VET) is looking to grow in popularity throughout the NFT market and, in the process, rise from its price of $0.02426 at the time of writing.
Conclusion
Decentraland (MANA) and Axie Infinity (AXS) are great passive income options for investors looking to tap into the P2E gaming market, while VeChain (VET) and KuCoin (KCS) look to stand out from the market with recent upgrades.
Nonetheless, the standout project on this list is Collateral Network (COLT), which offers a plethora of opportunities alongside a potential ROI of 35x. With the project quickly gaining traction during its presale it’s only a matter of time until Collateral Network (COLT) takes off.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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