5 No-Brainer Cryptos to Buy in 2024

The power of a passive income portfolio

Image via Chirp Wireless

Passive income” is a buzzword. It’s bullshit.

It's a universal truth like chicks dig scars and croissants are actually from Austria, not France.

What I mean is if you make money in the financial markets, you must work to keep track of your investments and react quickly. Or if you receive royalties or ad revenue, it’s just the long tail of your hard work from the past.

However, while “passive” incomes still require work, it’s different (and often less) work than classic wage slavery. That’s all there is to it. 

So, as we edge closer to a bullish market in 2024, I decided to reassess my portfolio and the cryptocurrencies I rely on for passive income. Let’s dive in.

1. Chirp Wireless

Crypto skeptics often ask: Can crypto be used for anything other than financial speculation and crime?

I’ve been asked that question several times during my five-year stint as a crypto reporter.

Chirp Wireless has become one of my top answers.

On a basic level, Chirp is a physical wireless device specifically designed to provide coverage for the “Internet of Things.” It offers extensive network coverage spanning tens of square miles (elevation is a factor; as for me in Denver, it’s a plus), and for providing this internet, you get the chirp token.

Think of it as crypto mining with a purpose. This goes beyond padding the pockets of crypto investors. It benefits those using IoT devices first and foremost.

“We’ve been dreaming about a technological future for generations. If you grew up watching The Jetsons, Back to the Future, I’d imagine the world is pretty underwhelming compared to what it was supposed to be. Now, with IoT and decentralization, we can make it happen. Not ‘someday,’ not ‘eventually,’ now.” — Chirp founder Tim Kravchunovsky 

Chirp’s Blackbird miner

Earlier this year, I picked up Chirp’s “Blackbird” miner. 

It’s really easy to use, pretty much plug-and-play, and now I’m earning money with a low-power-consuming device.

As long as Chirp keeps intriguing me, expect regular updates from me throughout the year. They've certainly hit the ground running.

Check em’ out. 

2. Bitcoin

Mathematics. That’s why Bitcoin is going up right now.

The mining rewards for Bitcoin will be halving in a few months; thus, for mining to remain worth it, Bitcoin must double, so people were encouraged to make it double.

Bitcoin also has going for it that it’s deflationary and many people have lost their wallets or passed away since it started (sorry to be morbid, but it’s true), their funds effectively destroyed. It’s like the Joker burning that pile of cash in The Dark Knight.

Everything burns.

People hold Bitcoin hard, lessening selling pressure, but a constant influx of new people need to buy some, creating buying pressure.

As 2024 draws closer, owning Bitcoin could be a smart move, especially as economies and nations fracture as globalization retreats.

3. Sui Blockchain

In 2019, Facebook decided to create a cryptocurrency called Diem.

It failed miserably. Why?

Lawmakers and regulators in the US and Europe crushed Diem’s goals due to the potential consequences of a Facebook-supported currency on the US dollar. It’s like owning a cheese sandwich shop; one opens across the street, and you burn it down.

Do you believe that the money you’re using is flawed yet?

Subsequently the devs for Diem split off into two projects: Sui and Aptos.

I’m not fully convinced about Sui due to centralization (though they’re working on reducing that). However, I’ll keep a close watch on it since Facebook was confident about this project until regulators stepped in.

4. USDC

Staking USDC on Coinbase is still the easiest way to earn passive income.

You convert your US dollars to USDC on Coinbase (USDC equals the dollar and doesn’t fluctuate) and can earn 5% interest on your savings.

My high-yield savings account pays 4.5% interest, so even that can’t compare.

And while we should be highly critical of crypto exchanges after failures like FTX and Binance, because Coinbase is based in the US, it adheres to the strictest regulations by the SEC and cash deposits are FDIC-insured. 

5. Ethereum

In traditional investing, dividends are the cherry on top. 

It’s where stocks pay you for simply being their owner.

For instance, Warren Buffett (I can’t believe that guy is still alive) bought $1.3 billion of Coca-Cola stock in 1994, and by 2022 that investment began netting him $704 million a year.

Normal folks like us may not strike it rich with coke stocks, but Ethereum offers a chance for us to earn a solid interest rate on our hard-earned cash

Ethereum offers several ways to make passive income on your cryptocurrency through staking ETH on websites such as Blockscape.org (~7% rates), Rocket Pool, or Coinbase if you want the easiest option.

Like anything, Ethereum isn’t risk-free. It’s subject to smart contract failure and that’s why it’s important to use the oldest, most proven apps. 

Final Thought

I welcome the healthy dose of skepticism surrounding crypto as we approach 2024.

The space has been a hot mess for the past few years.

Developers overpromised and underdelivered, we didn’t focus on real-world utility (or solving banking problems), and so many “investors” overleveraged like some 2008 deja vu fever dream.

That’s why the projects here: Chirp Wireless, Bitcoin, Sui, USDC, and Ethereum, are important to keep your eye on if you’re serious about investing in this space. 

Thanks for reading.

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Ever since I was a child it has been my dream to become a financial advisor. Unfortunately, it never came true. Therefore I am not a financial advisor and you should do your own research and not just listen to random people on the internet. Nothing contained in this publication should be construed as investment advice.