There was once a time when you could go work normal hours (roughly 40 hours a week) and have everything you needed and wanted to provide for a large family. However these days in most cases people are finding themselves working two jobs. But that's now even changed!

Today I want to go over the importance of building multiple income streams and then also cover how I apply some of these to the Hive blockchain or projects I'll be working on in order to do so.

Income streams

With the way things are today there's a very real possibility for you to have roughly 9, yes NINE income streams and it's important to be tapping into as many of these as you possibly can.

The more income streams you have the better. If one fails or falls you have the others to keep things going. On the flip side of that one income stream or a few could drastically take off building you some crazy amounts of wealth.

Below I'm going to break up some of the most popular income streams and how I apply them or will be applying them to the hive blockchain.

If you're not already on the hive blockchain I highly recommend joining for free via the front end called InLeo

1 Investments

Investing your hard earned cash and crypto is a great way to start building wealth. In fact it's my top options as of right now and one I feel many people fail to grasp when starting a project.

With crypto this applies in MANY ways and it's up to you what ones you feel ok with doing.

DeFi - Defi is a great way to build increased revenue but it's important to understand Impermanent Loss you can do this one hive via a few places. The first is via BeeSwap

Pools - By providing liquidity in these pools you can earn a small amount of fees on the transactions that take place. On top of that you some of these pools have rewards built directly into them provided added bonuses for you.

Gamefi - Gamefi is one of the ways I love earning as it allows you to invest into gaming while playing the game or simply helping the economy. It works much in the way as DeFi but it focuses in on gaming. This is primarily done via Splinterlands

Savings aka Interest

This is one of the easiest ways to earn and Hive does a really good job at providing the incentives for this.

For example at the time of writing this I'm currently earning roughly 3.3% APR on staked Hive and also 15% on stacked stable coin HBD. You could also factor in another 9% on top of that for hive staked via curation rewards. This gives you a whopping increase in value once you start to really stack you hive and HBD.

Savings is only of the most passive ways and I would factor in staking rewards here as well. You can either run a node yourself (Which I plan on doing) or putting your tokens into another node on some platforms and earning a bit of a smaller APR on those tokens.

Affiliate Marketing

Affiliate marketing can end up making you a lot but you do need some serious numbers and activity to pull it off. Primarily for me you'll find me promote a program or two in which based on buying habits or how much someone engages with the platform will earn me revenue via crypto tokens.

For example I've made roughly 1,000 hive this way via Dcrops and a some credits from Splinterlands which btw should be changing soon to offer up DEC rewards which is going to be pretty awesome! You also now have platforms like InLeo which is just started to move all my links over to my affiliate link after years of promoting it lol so that's been a little slow but there's some serious add up value there with up to $50 worth of LEO tokens that can be earned per referral you bring in.

Content Production

Hive is a social platform so any blog, thread or short you create could be earning you revenue! This revenue is paid out to you via a rewards pool every 7 days and can be compiled with other layer two tokens such as Leo, Neoxian, SPT and others.

Building a Business

Yes, hive is a great platform to build a business on and I've seen many be successful in doing so. However like with any businesses there will be failures and it's normally a decently high percentage of them. That being said I feel like if you didn't have any investors and wanted to start a smaller operation then hive would be a great blockchain to do so right now.

For myself at some point I'll be launching my own game and also my own project. Most likely the project will come first.

Ad Revenue

This is one I've been heavy on for a while and one hive continues to fail to tap into for whatever reason. That being said you can still tap into this yourself. Either by launching your own front end in which you run ads or simply be running crypto ads or adsense on your own websites and blogs.

With enough traffic (Primarily USA based) you can earn a sizeable chunk of revenue each day from this.

For myself I'll most likely run this on my front end whenever I launch it and also what I'm currently doing with running them on my own sites.

So there you have it a way to build multiple streams of revenue. It's important and I feel like it's a requirement in this day to have more than one income source. Get out there and start applying! This isn't all of the methods but it's the ones I wanted to highlight here today.

Posted Using InLeo Alpha