Posted 5 months ago | by Catoshi Nakamoto
Let’s keep it simple. Crypto is more than just a way to make money it’s about the freedom. Everyone longs for the economic flexibility to be able to spend the time they have in their life to chase their dreams. It’s hard to do that when you’re spending forty plus hours a week helping your boss chase theirs. Don’t get me wrong; I’m not saying to go quit your job and I’m not throwing shade on anyone that works hard. This is for the people who feel stuck and don’t know what to do or where to start. I don’t know about you, but before crypto saved my life, I worked a number of odd jobs and that’s all I had. And that’s okay! Today, right here and now, you can make a decision to take control of your life and choose to take crypto more seriously than any job you’ve ever clocked in at. Invest in yourself; spend your spare time learning anything and everything you can and if you’re dedicated and disciplined enough, no matter how little you have to start with, you can succeed and live the life of your dreams. What a time to be alive; crypto has made more new millionaires in the past couple years than any other industry. As glamorous as that all sounds, this is not for the faint of heart; making it in crypto requires patience, conviction, critical thinking skills and most of all, GUTS! Scared money don’t make money, and if you know how to play the game, you can let your money make more money for you. That’s what we’re going to focus on today!Read More
Lets get it
Welcome to BitBoy Crypto. Home of the Bitsquad, the largest crypto community in all of the interwebs. My name is Ben. Every day on this channel I show YOU how to MAKE MONEY in Crypto. If you like money and crypto then make sure to hit that subscribe button. If you want to go deeper into crypto, make sure to check out bitlabacademy.com. In this video, we’re going to focus in on four specific ALT that you can stake to generate multiple streams of passive income.
When you have a crypto portfolio…or any type of portfolio for that matter it’s crucial to have multiple streams of passive income. A great way to do this is to stake your coins. There’s hundreds of different ways and places to stake your coins, so always do your homework before staking so you get the best bang for your buck. Staking is perfect for beginners because it allows them to constantly keep building their portfolios without having to transfer more money in from their bank accounts. It’s the easiest way to put your money to work; you don’t need any special equipment to stake crypto like you would for crypto mining. The best part is, you don’t have to do anything else once your coins are staked.
You don’t have to logarithmically proof complex algorithms or go to college for computer science; or battle with GPU overclocking… once your coins are staked, kick back and watch them grow. Some staking requires you to “lock up” your coins for a specific amount of time, while other times you can take your coins out as easily as you put them in. Staking is also extremely helpful for whatever project/ protocol you decide to use. For protocols that utilize a proof-of-stake consensus mechanism, the coins you choose to lock up are used to validated nodes, confirm transactions and create new blocks. The reason protocols/ staking pools pay you interest to stake with them is because you’re helping maintain the security and efficiency of their blockchain. It’s a win-win situation that’s mutually beneficial for you and the project(s) of your choice. Lets dive into some popular coins that offer substantial ways to help their users generate passive income.
This list HAS to start with the king of staking, Cardano. Out of Cardano’s 42 Billion dollar market cap, almost 31 billion dollars worth of Cardano are currently staked. That’s a little over 70% of all Cardano in existence. This is why so many people remain bullish on Cardano, even through downtrends and all the FUD, because the floor can only fall so low since so many of it’s investors are staked in the project for the long haul. The main wallets used to stake ADA are Yoroi and Daedalus. ADA staking is available on many exchanges such as BinanceUk (5.01%), KuCoin(3.64%), Atomic Wallet(5.01%), Exodus (4.91%)and several others. Most exchanges will give you around 3-5% for staking your Cardano with them. There are hundreds of staking pools for Cardano as well. If you’d like to make 6% (*that’s the number I found through the link on the site, just wanted to double check with you that’s the right percentage) staking your Cardano in the Bitpool, there is a step by step guide in the link below. If you’re playing the long game and you’re planning to hodl a coin for several years, hodling ADA while staking it is one of the best one two punches available in crypto.
If you’re looking for a lower cap alt-coin with plenty of room left to run that also offers incredible staking benefits to its users, I would highly recommend Cartesi. CTSI is currently priced in at $0.68 cents with an all time high of $1.43. If you were to jump in today and patiently wait for it to retest it’s all time highs, that’s a double up right there. Boom. Not to mention, of its $333 million dollar market cap, almost $140 million of it is currently staked. That’s just about 42% of its market cap. Any coin with over 40% of its market cap actively staked is a great indication that that coin has a strong group of believers who have the conviction to stick around for the big picture to play out. I am VERY bullish on Cartesi, especially for the long term. Which is why I’m an advisor on the project. Although CTSI staking is not common exchanges, you can find several staking pools that offer absolutely MASSIVE returns. Staking for Cartesi is now available directly on their mainnet as well.
They currently have 295 active nodes. Each pool earns 2900 CSTI per block. The projected annual earnings for staking Cartesi on their mainnet is 46.7% Try going to your local bank and ask them if you can get 46% yearly interest on your money and let me know how that works out (lol) Since one of Cartesi’s main focuses in passive income, they also offer “masternode coins, dividend tokens and lending protocols.” (source: bitboycrypto.com) For a step by step guide on how to run a node and how to stake with Cartesi, learn more at medium.com (link in description) If you would like to stake your CTSI with the Bitsquad, learn more in the link below. (I could not find the percentage the bitpool offers for staking CTSI)
Another popular coin I highly recommend staking, who’s popularity snowballed into on heck of a year, is Avalanche. For some context, this project has grown over 4000% since the start of 2021. Known as the fastest smart contract platform in blockchain, its makes sense to stake with AVAX because it has the most amount of validators securing its activity compared to any other proof of stake protocol. (Source: www.avax.network) With a market cap just under $30 billion dollars, 59% of all AVAX in circulation are currently staked. A big reason this percentage is so high is because there are a plethora of places to stake your AVAX. The most popular among those are Binance, Okex, Nexo and the Avalanche Wallet. From the Avalanche Wallet, you can expect to yield a maximum of 11% APY of your staked AVAX. Avalanche is also partnered with Ledger; because of this you can securely keep your hard earned tokens in cold storage will still reaping the benefits of staking thanks to Ledger Live. You can run your own validator node for a minimum of 2,000 AVAX and you can be a delegator and stake on an existing validator node starting at 25 AVAX. If you’d like to stake your AVAX with the Bitsquad…
(*I could not find any information about staking AVAX in the bitpool anywhere on the Internet, sorry for any inconvenience.)
Just because some coins don’t offer staking, or they do offer staking but it’s not worth it compared to other coins, doesn’t mean you cannot use the utility of that project to earn passive income. Look at GALA. If you don’t already know, GALA is a blockchain backed NFT gaming platform that is drastically changing the way people use NFTs in the gaming world. Since their launch in 2020, they gracefully made their mark on the scene in a very short amount of time. You can stake GALA on Bitrue for 1.5% with an unlimited lock up period, but that’s not what’s attracting the masses to their platform. GALA is known for their variety of fun play to earn games, but the best is yet to come. According to coindesk.com, “Gala Games and C2 Ventures recently started a $100M dollar fund to Invest in Blockchain gaming.” This includes more play to earn games with Metaverse ventures as well. These games are spectacular outlets for gamified DeFi, which is an increasingly more popular way to earn passive income. Although some of the games don’t roll out until 2022, you can already purchase land for those games and you can earn passive income through the resources the lands provide.
Other people can pay you to rent your lands as well. It’s like the airBnB of the Metaverse. These games include Legacy, Walking Dead Empires, Fortified, Mirandus, Spider Tanks, Last Expedition, Town Star and the popular space based, play to earn, Echoes of Empire. You can also earn passive income through running a node on GALA, but it’s an expensive endeavor to say the least. For some insight on how fast GALA inserted itself into the blockchain gaming industry, in March of 2021, you could buy a GALA node for $7,500 dollars. If you wanted to buy one today, it would run you $186,163 smackaroos. Gala nodes will earn you 400 GALA per day. If you want to make passive income through play to earn NFT gaming, be sure to check out app.gala.games
Earning passive income is a must in every successful portfolio. I highly recommend to of all members of the BitSquad to let your money work for you. Don’t just let it sit there, put it to work. It’s a win-win incentive structure that not only helps you make more gains and build your portfolio, but it supports favorite blockchain projects as well. To compare and contrast staking percentage rates for all your favorite coins through wallets, exchanges or pools, be sure to check out stakingrewards.com. Comment below with the coins you are looking to stake through 2022.
That’s all I got, be blessed, BitBoy out!