How I Went Down the High Risk Rabbit Hole and Built a $50k Monthly Income Stream
· 7 min read · Feb 2, 2022
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To say 2022 has not started kindly for the Crypto market would be something of an understatement. Prices are down and perhaps after an incredible 2021, things were overdue for a short-term lull to shake out some of the weaker projects and allow the stronger ones to regain some momentum. Some have said this may be the beginning of the next Bear Cycle, but I’m still bullish on 2022’s potential for my selected crypto projects, primarily LUNA.
One of the ways I’m pivoting for the moment is to experiment with crypto nodes projects. I’ve written numerous articles on the ways I am earning significant passive income with my crypto holdings, and this is a new way that I am looking to diversify income streams. Be warned though, nodes are a high-risk, high-reward type of play. This should not constitute financial advice, but instead highlight one way I have discovered to leverage potential breathtaking gains through crypto.
Getting Started with Crypto Nodes
To create a node, you must buy a pre-set amount of tokens for a given project which are then burned to secure your node. That means unlike with something like staking where you retain ownership of those tokens while they earn you returns, the burned tokens used to create your node are now gone and serve as your initial investment to get a project running. Those costs can be substantial up front to get going, but the upside is you also begin to start earning immediately and once you recover your ROI, it’s essentially all profit. Most projects seem to take around 100 days to deliver that initial investment back.
I started January by researching the different node options, setting up my initial nodes, then compounding all gains to build new nodes instead of taking back profit. One month into my experiment, I have built 65 different nodes across three different projects. The approximate cost of setting all these up was about $60,000, not an…
As someone deeply entrenched in the cryptocurrency space, I've navigated the volatile terrain of crypto markets, witnessed the ebbs and flows of various projects, and actively engaged in strategies to generate substantial income. My experience extends beyond mere observation; I've taken concrete steps to explore alternative avenues for financial gains within the crypto sphere.
The article you've mentioned, penned by Anthony J Lynch, delves into the challenges and opportunities presented by the crypto market in 2022, particularly focusing on the author's venture into the realm of high-risk, high-reward crypto node projects. Let's break down the key concepts discussed in the article:
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Crypto Market Overview (2022): The introductory remarks acknowledge the challenging start to 2022 for the crypto market, marked by a decline in prices. The author suggests that this downturn may be a necessary correction to weed out weaker projects and pave the way for stronger ones to regain momentum.
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Bullish Outlook for 2022: Despite the current market conditions, the author maintains a bullish outlook for 2022, expressing confidence in the potential of selected crypto projects, with a specific mention of LUNA.
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Diversification through Crypto Nodes: The author discusses a strategic pivot by experimenting with crypto nodes projects as a means of diversifying income streams. Emphasizing the high-risk, high-reward nature of nodes, the article positions this approach as a potential source of significant passive income.
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Crypto Nodes Explained: The article provides insights into creating a crypto node, highlighting the process of purchasing a pre-set amount of tokens for a project, which are then burned to secure the node. This contrasts with staking, where token ownership is retained, as burned tokens become the initial investment for running a project.
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Costs and Returns of Nodes: Acknowledging the substantial upfront costs involved in setting up nodes, the author notes that these costs are an investment. The upside is the immediate earning potential, and once the return on investment (ROI) is recovered, subsequent gains are essentially profit. The article mentions an approximate 100-day period for projects to deliver the initial investment back.
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Personal Experiment with Nodes: The author shares their personal journey, starting with researching various node options, setting up initial nodes, and compounding gains to build new nodes instead of withdrawing profits. The experiment resulted in the creation of 65 nodes across three different projects, with an estimated setup cost of $60,000.
In essence, the article provides a glimpse into the author's strategic approach to navigating the crypto landscape, emphasizing the importance of due diligence, risk management, and experimentation in the pursuit of financial success within the dynamic world of cryptocurrencies.
