When you invest your money in crypto for mid or long term, don’t miss huge opportunities to grow your portfolio. There are several ways to earn money doing nothing !
You have to think about the future incomes, not what it would give now. I’ll explain this later bellow.
Many wallets or crypto banking are very attractive. You can earn passive incomes by just holding your coins on your wallet.
- Celsius Network ( 15% APY on USDC , 6% APY on ETH and BTC ). Check out there website for all the possibilities.
- SwissBorg (CHSB yield, up to 19% p.a. on USDC, 5% on CHSB and many more)
- Nexo (Earn up to 8% interest on crypto and up to 12% on stablecoins, paid out daily.)
- BlockFi (your cryptocurrency can earn up to 8.6% APY. Interest accrues daily and is paid monthly.)
- And others like ExoCrow and Exodus needs your attention as well !
Another good way to earn crypto while you are holding, and I needed to make a special part for this, is Binance Earn
Several ways to earn, several levels of rewards.
Flexible saving: you can stake your cryptos, and get them back when ever you want, but the rewards are lower (ex: 1.2% on BTC, 6% on BUSD, 0.30% on ZIL … ouch! see the staking bellow)
Fixed Terms: higher rewards, but you will need to lock your crypto during a period (from 1 to 3 month). Ex: Elrond Gold 10%,
Locked Staking: High rewards out there, durations from 30 to 90 days, Estimated APY from 10% to 46% for many famous coins!
High-risk Products: Insane APY out there, 50, 100%. High risks though, that part is for big wallets…
ETH 2.0: If you can afford to lock 32ETH required for a node right now (and now how to run a node), go there, check the product, and join there pool.
LaunchPool: Binance is helping new coins for there launch, it’s like a startup incubator. With launchpool, you can stake your BNB or DOT, and you will earn other coins on the start. Now, you can earn DODO with your BNBs 🙂
And a last point to mention: the binance visa card: up to 8% cash back on your transactions. That’s another way to earn BNB when you spend money. And you do for sure 🙂 Supermarket, online store etc… see how much you spend in a year, and how much you would get back with the cash back depending on your level.
Binance is for sure a strong platform with a lot of product. Competitors can’t compete with all of their offers, but on specifics points, Staking by your self, or use other banking site may give you more rewards.
Staking could be considered as the mining 2.0. You just need to hold and stack your crypto, and the pools or blockchain will give you free money.
The most famous example so far is ETH 2.0. You can easily find online some pools where you can stake your ETH and earn 15% APY (32 ETH is required to run a node). For example ‘Just Mining’, or Binance.
But there are tons of cryptos out there, and there is a good site where you can find which coin to pick: StakingRewards
Make your own research, learn the fundamentals, pick you favorite coins.
One of my favorite way to stake, is through Atomic Wallet. First, you really own your crypto, because you have all the private keys and seed phrase. Second, APY are high compared to crypto bankings (but they have other advantages that you don’t want to miss).
For example, let’s pick up ZIL, Zilliqa. APY 15%. At the time of writing, ZIL is at $0.14 cts. If you invest around $1400, you have 10k ZIL. APY 15%, gives you 1500 ZIL for free, every year. That 125 ZIL a month, and yes, you can claim your rewards when you want !
Now, let’s go in the future: What is you exit target for ZIL, $1 ? or $2 ? (most of the traders says $5 or $10 during this cycle…), let’s assume you want $2 for a ZIL: Staking would give you in 1 year, 250$ for each month of staking when you will sell. Doing nothing, with only $1400 invested. That is insane gains guys! That’s free money!
Now go to your real bank, ask him how much you will earn if you hold $1400 in his bank after 1 year.
Do forget, always fo your own research, decide by yourself where you want to invest your money, take profits and have an exit plan !