Become Your Own Bank & Vastly Outperform the APR of Conventional Savings Accounts
Banks are the originators of Proof-of-Stake (PoS) mechanisms. But their paltry rewards can no longer compete with crypto.
Know how to download software and write down a password? Congratulations! You’re qualified to stake crypto and earn passive rewards.
This article highlights three blockchain projects with dividend rates that blow your savings account out of the water — at least twice that of today’s highest bank rates.
I’ll also pass along a free resource that allows you to find these exciting projects all on your own.
Savings accounts from a bygone era used to pay north of 5% annual interest just for holding funds with the bank.
But not anymore. You’re lucky to get more than 2% these days. Crypto staking rewards, on the other hand, can offer much higher payouts.
As distributed teams power most blockchain startups, their overhead is extremely low — typically spread across a group of individuals working from home.
And while banks turn your deposits into 5x gains — granting you a minuscule percentage of the profits — PoS crypto projects are more appreciative of your support.
You see, by holding a crypto network’s native cryptocurrency, you’re helping to keep the system secure. In other words, your investment is a ‘stake’ in the project’s overall success.
Bitcoin and other Proof-of-Work (PoW) networks consume massive amounts of energy as miners’ specialized hardware compete to solve complex math riddles. [Still far less power than the global banking industry!]
In contrast, PoS blockchains only require a simple software download. Run a light wallet on your PC/Mac, the web, or even on your smartphone.
A PoS ecosystem’s crypto wallet acts as a validator for network transactions.
And for your trouble — read: Doing nothing! — the network pays out in its native coin or token.
Keep in mind that unless your government’s fiat is suffering from hyperinflation, traditional ‘cash’ is less volatile.
On the other side of the coin, with crypto volatility comes the potential for significant gains. The risk-reward ratio is much different in cryptoland.
With the mentality of print-more-to-buy-our-way-out-of-problems, gov’t money usually has nowhere to go but down.
And by staking, you not only have a chance to see big upswings (as well as down!), but there’s also a compounding effect on deposits.
Crypto network payout rates — as well as risk — will always vary. Remember to Do Your Own Research on any project that looks promising to you.
The good news is that I’ve done some homework for you and uncovered a few projects that appeal to me for a variety of different reasons. But don’t just take my word for it — or that of your favorite YouTube influencer’s!
Today’s interconnected world presents ample opportunity for informed research — I’ll leave multiple links to all three projects below.
And because each project has a unique method of operation, this isn’t meant to be a ‘Top 3’ list. I’m not even going to put the projects in order of preference — you’ll see why as you continue to read.
Keep in mind that being your own bank means assuming all responsibility for account security.
Exercise extreme caution with crypto wallet passwords, seed phrases, and private keys! Most are unrecoverable if lost. Lose your keys, lose your crypto!
In addition, get yourself a USB drive on which to store wallet backups.
Now, in order to obtain any of the crypto mentioned within, you’ll need some basic exchange skills. You don’t have any? No worries! Got you covered right here:How to Trade Fiat for Crypto, Crypto for Crypto, and Crypto for Fiat
Master These Basics and You’ll Know How to Trade Cryptocurrencies on Most Exchangesmedium.com
The process of trading crypto is easy if you know how — successfully banking profits is a different story. Take it slow and pay attention!
But enough about secure trading, let’s get into the goods: Blockchain projects paying passive rewards. Read a book, ride your bike, ‘Netflix & Chill,’ the choice is yours.
No matter the activity — even if you’re hard at work creating even more income — staking crypto activates set-and-forget payouts.
V SYSTEMS — Double-Digit APR
While V SYSTEMS is the youngest project of this article’s bunch, the lead developer is legendary within the blockchain industry.
In fact, Sunny King invented the PoS consensus mechanism so many blockchain projects use today.How the Invention of Supernodes Upgrades Blockchain’s PoS Consensus
Staking Rewards Now Soar Even Higherhackernoon.com
VSYS is building a simplified, cloud-based platform on which developers can create their own blockchains.
And because of their innovative and balanced Supernode mechanism (SPoS), your rewards come from leasing coins to the Supernodes.
Plus, just like crypto trading, leasing is easy if you know how. VSYS made the process very straightforward — but check this how-to guide if you get stuck anywhere:Leasing Crypto Can Offer 10x Returns Over Traditional Savings Accounts
Learn How to Stake VSYS Coins for Double-Digit Annual Interestmedium.com
To begin leasing, simply choose your VSYS wallet then make a deposit. Select a Supernode and send them your VSYS coins. Done!
Current APR: 20%+
$VSYS Trades on KuCoin & more
CloakCoin — Untraceable Transactions
Bitcoin may be the oldest and most recognized name in cryptocurrencies, but it’s anything but private.
And as Big Brother’s surveillance tactics become increasingly invasive — proven by two recent examples of facial recognition technology thrust upon the public.
“It’s not for them to tell me not to cover me face.” ~London citizen unwilling to accept overlord tactics.
Using a privacy coin is one of the most effective methods for keeping Big Brother out of your business. Privacy coins shield your financial transactions from the online snoops and sniffers out to track every cent you spend.Why Using a Privacy Coin Preserves Our Rights as Global Citizens
The World’s 7B+ Residents are Entitled to Privacymedium.com
In addition to preserving your privacy via encrypted, untraceable transactions, the CloakCoin project rewards open wallets.
To stake, download the CloakCoin wallet and leave it running on your computer. It only takes 1 CloakCoin to get started, but more coins in your wallet mean more frequent payouts.
Current APR: 6%
$CLOAK Trades on EasyRabbit & more
Komodo — The Versatile Dragon
Komodo Platform offers a one-stop shop for businesses looking to create their own blockchain.
Also, $KMD coins are super-easy to stake:
1) Visit Komodo Platform’s website and download a wallet.
2) Deposit at least 10 $KMD into your new wallet.
3) At least once per month, log in to your wallet and click the big, green ‘Claim’ button.
The Agama wallet is one of crypto’s best. It’s agile, secure, holds a bunch of coins — including bitcoin and ERC20 tokens — and even comes with tech support.
Plus, one of Agama’s best features is that there’s no need to keep the wallet open to claim $KMD rewards. Simply log in and collect.
Current APR: 5%
$KMD Trades on Binance & more
Free Resource for Discovering Staking Rewards
We just covered some of the more straightforward staking projects. Others can get very technical if you expect to earn an income.
And then there are those — like $DASH, for example — that require a substantial upfront investment. At today’s prices, staking $DASH sets you back $154,000.
No matter your skill level or budget, Stakingrewards.comallows you to filter projects by a number of categories.
This resource not only helps you choose projects to back, but it also teaches you how to claim that booty.
Keep in mind that their ‘Score’ and ‘Risk’ categories revolve around the site’sresearch and opinion — taken from their independent analysis of ROI, network stability, market cap, liquidity, and more.
Have a look around the staking rewards website, play with the filters to find a mix of parameters matching your tolerance and skill levels, then get to staking!
Staking rewards are a simple means to earn passive income. And, especially in the case of VSYS, the returns easily surpass those of other assets classes, including stocks and bonds.
And if you consider privacy features — something traditional finance neveroffers — it’s easy to see why the concept of staking is gaining momentum throughout the blockchain industry.
Only a few years ago, it was enough to merely stash your digital funds in a hardware wallet— theundisputed champion of crypto security — and hang tight. But in 2019, crypto enthusiasts demand more.
As more startups enter the industry, investors’ attention is increasingly scarce. And to win those investors over, blockchain projects are tripping over themselves to dish out rewards.
Ready to claim yours? They’re ripe for the taking if you know where to look!
Disclaimer: This is not investment or financial advice. Information within this article is primarily speculative opinion, and for entertainment purposes only. Past performance does not guarantee future results.
If you utilize certain services within the article — never at an additional cost to you — I might receive compensation. Thank you for supporting my efforts in creating free content.
Always conduct your own research before involving yourself with any project — in or out of the crypto market. The author holds the native cryptocurrencies of all projects mentioned in this article.
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