How to make €10k passive income monthly- #August ‘22
Hey everybody,
This is my first medium blog post about my way to €10k passive income monthly. Around January last year, I started my journey by investing in crypto mining and crypto assets. But crypto should not be the only investment I will do to reach my picked goal of €10k / month.
The vision
You may ask yourself why I have picked €10k / month.
To be honest this is an amount of money I will get already from active income (to be a Startup CEO) streams monthly. So, my vision is to generate at least the same amount with passive income or even more.
The goal
The goal should be to generate stable passive income for the long term. This means all investments should not be quick in and out. Also, they should generate a passive income passively. I don’t have the time to manage my passive income and active income streams daily or weekly.
The strategy
The strategy is very simple. Invest small amounts of my active income initially in high-risk assets to generate as fast as possible €10k / month to (if the amount is high enough) invest the revenue generated from the passive income streams later.
The focus should be on crypto assets or any other business models, not Stocks, Forex or building webpages (No affiliate, micro-pages, etc.) cause this business model is already covered by the other 3 companies I own which generate already active income.
Market conditions
As you may already know in August the crypto and in general the financial market was difficult. This is based on some facts like:
- Inflation is out of control for most of the world
- Gas prices have increased significantly and this raises costs all across the supply chain
- Interest rates began to increase
The picks
In August, the picks are the same as in July. But I have added new assets:
- Invested initially 250 BUSD in StableFuel (Referral Link!)
- Invested initially 100 BUSD in Blitzminer (Referral Link!)
- Invested initially €288 in Undead Space Ape NFT
Besides the new picks the old are still:
- Invested overall €353 in Baked Beans (Referral Link!)
- Invest overall €890 in BNBMiner (Referral Link!)
- Invested €700 overall in Chia Plotter
- Invested €600 overall in Antminer L3+
- Invested overall €5389 in Bobcat 3 Helium Miner
- Invested €120 overall in Raspberry PI 4
- Invested €55 overall in Spooky Miner
- Invested €1240 overall in Yieldnodes
- Invested €29700 overall in GPU Mining Rigs
The performance
The breakdown looks like this:
As you can see the biggest gain was generated by the GPU Mining Rigs (Ethereum) with a huge amount of €5047.17. To be honest with you €4347 of that was a payment from the electric company because I have paid too much from September — December ’21 for the mining rig’s energy.
Overall without the re-payment, the passive income in august was around €1241 which was a slight increase compared to July. Most of the passive income was generated by BakedBeans Miner and Ethereum Coin (mined from GPU Rigs).
Outro & Outlook
So that’s all for today. This came out longer than expected but I had to make sure I cover everything. As you can see the journey just has started and I need to find more profitable passive income sources. Let me know what you think of my picks. Thanks for reading and stay tuned. Updates coming soon.
If you found this interesting, make sure you follow me on Twitter for more updates on the journey. I just created the account a few days ago, so I’ll probably follow back (unless you look like a bot). And remember this is NOT financial advice. Content is purely for entertainment purposes. This article includes referral links.
