There are many different cryptocurrencies that are stakeable allowing you to earn passive interest with which you can then reinvest back into them to compound interest. I personally stick to BTMX, TRX, and Hive when I’m staking, let me explain why.
While there are many cryptocurrencies you can stake, there are few that have performed very well over a long period of time whereas BTMX and TRX have continued to appreciate in value from when I originally bought them and have yielded very high returns.
Tron – 7.30% APR
TRX yields me an average of 7% or more depending on the super representatives you vote for. This is a great yield and because TRX is widely used and has a lot of use cases for passive income and gambling, I feel it will be safe to continue earning more with my ~$500 investment. I don’t like Justin Sun and how he ruined Steemit and bought up DLive and continued its poor practices, but luckily the token isn’t directly affected by his actions and many in the community also do not support him and while still supporting the tokenomics and vision behind Tron. It’s a bit complex or rather the UI is though. Essentially the process you need to take is staking your Tron via freezing it, then voting for super representatives that offer the highest APR or whatever you’re looking for, and then claiming that regularly and repeating this process.
Note that Tron you freeze will be locked in for 72 hours, but after that, you can unfreeze it and do whatever you want. You also want to stake enough to cover your transaction costs and that way you will spend nothing on gas fees.
Hive – 3.4% Staking APR + 4.9% Curation APR
The Hive I have was duplicated over from my Steem account and given I can earn 3.4% APR just from leaving my Hive powered up, it’s a great way to passively earn. On top of that, any curation I do earns me about 4.9% APR too. The great thing is that my Hive power is also set to auto claim every 2-3 hours which effectively compounds interest at a much faster rate. So, while you do have to wait 13 weeks to fully powerdown and unstake your Hive, you will earn a fairly decent payout very passively. You don’t have to wait the entire 13 weeks though as you get 1/13th of your powering down funds each week for 13 weeks until you’ve claimed all of it. While Hive pays a much lower APR and has more restrictions around unstaking compared to the other two coins, the compounding effect and boost to my curation is definitely worth it given I regularly post on Hive. I may have treated it differently if I wasn’t using Hive, however I recommend everyone use it. You can also take advantage of communities on Hive to earn more on a second layer like LeoFinance which I discussed in my previous video and blog post.
You can also setup auto claim via many different projects, here is one - https://peakd.com/autoclaim/@hive.autoclaim/userguide
BitMax – 21% APR
BTMX is the exchange token for BitMax that you are able to “subscribe” to the platform in order to earn from their exchange’s fee-sharing program where you get a percentage of the fees earned from trades on the platform for that day which averages out to about a 20% APR which is very high. They pay out in USDT which means you have to trade that back into BTMX and subscribe it to continue reinvesting and compounding earnings, but you earn quite a bit. I’ve already earned $70 from my $500 investment which is phenomenal. You do need at least $5 worth of crypto to trade, so you do have to wait until you have enough to then buy BTMX or you can pay a large fee to convert any crypto of any amount into BTMX. This isn’t worth the fee unless you convert “dust” which are tiny values that you could otherwise do nothing with.
There are many other places you can stake, but the safest way to stake is anywhere that you have full control of the private keys and usually that’s on a separate wallet not connected to any exchange. So in this case, BTMX isn’t perfect, but with a crazy high APR, it’s worth the risk to me.
Where do you stake your cryptocurrency? Are you staking any of the coins I am? What crypto coins are you staking or planning to stake? Do you prefer staking or lending? Let me know in the comments below and don’t forget to like, share, and subscribe as well!
