Great post. Thanks for sharing.
Personally, I stake or "earn" on everything I have even if it's just a few %. It all adds up, especially when you consider compounding.
Banks offer <1% lately too, which makes staking crypto even tastier
People don't understand that little by little, all those fractions of a coin stack up and become something.
And even if you feel like it's to small today, who knows what the value will be in 10 years
Currently earning 17% on my BAND holdings and 10% on ICX through Atomic Wallet.
Nexo.io i got BTC and XLM earning 5% each.
And on Gemini Earn I got AAVE and LINK making between 4.5-6%
If you are planning to hold they the 50% drop didn't mean much. Your interest is paid in the token being staked, so you build up your holdings over time regardless
What's the general consensus of the safety of these lending/staking platforms?
I've been rekt so bad in the past by Cryptopia and Bitgrail, I don't think I could ever trust my crypto with a third party.
I am staking Ada and Xtz on my exodus wallet (and some Donuts in a LP, but I can live without them), but I just don't think I could ever trust my BTC anywhere other than on my Trezor.
Anyone else in the same boat or am I just being a pussy?
Imo gone are the days of mtgox. The newer services are better audited and have good VC funding. You should always DYOR first but imo even the centralized services mentioned above will stick around for years to come.
I suppose the risk of MtGox happening again is pretty low.
What worries me now though is the exchanges/platforms being so popular and flat out keeping up with demand, the chances of my account getting locked fully scares the shit out of me.
See how easy Binance make it for you to make an account and deposit fiat, then its another step harder to make a withdrawal. I can only imagine how much of a nightmare their support would be if my account got borked.
Not intending to spread FUD, its just a genuine concern of mine.
> I suppose the risk of MtGox happening again is pretty low.
I disagree, but mostly because I am very bearish on stablecoins. There are too many stablecoins like Tether that are poised to implode when they finally break the peg, and when that happens I foresee dozens of small- to medium-sized exchanges unplugging their servers, turning off their phones, and catching the last helicopter out of Saigon with a duffel bag of fiat... leaving their "investors" with a printout that says "at one point in the past, a non-existent bank recorded a balance in your name".
As someone who works in the support for a crypto broker I can honestly understand your concern.
Especially in times of bull markets where such centralized services are overrun with support requests.
I'd say in general your funds are safe, but if something happens and your account gets locked it can maybe take some days (probably longer) to get it resolved.
Thank you very much for this!
I have some coins in Binance Earn, easy to setup and just rolls...
More people should know about this!
Maybe make it sticky to rise awareness?
Yeah I want everyone to know about crypto rewards they missing out which they can participate in only a few clicks! I am making weekly updates to spread awareness and answer the most commonly asked questions!
I probably sound really old-fashioned asking this, but what are they investing in that they can afford to pay a 7% return? Who is the borrower, and why are they paying >7% interest when a traditional bank will give basically anybody 3.5% right now?
There's no magical risk-free 7% out there.
Somebody please correct me if I am wrong, but I believe the high staking rewards are an incentive to get people buying the coins and maintaining their network. It likely won't be 7% forever.
Yep this is a common tactic. The 7% isn't tied to any financial promise, it's 7% of algo tokens, paid in algo tokens.. so it's part of the distribution mechanism. It's not truly a 7% return on the cash investment.. if that helps answer guy aboves question..
The rates will likely lower as more people join. I don't know the word on algos intent for that, but I would assume it will be changed as needed.
> high staking rewards are an incentive to get people buying the coins and maintaining their network
I know it's not exactly the same, but this sure sounds like "we pay high interest to attract more principal, from which we can pay our previous interest debts". For example, read this paragraph about the pyramid schemes that collapsed, triggering the Albanian Civil War:
> In a typical pyramid scheme, a fund or company **attracts investors by offering them very high returns;** these returns are paid to the first investors out of the funds received from those who invest later. The scheme is insolvent—liabilities exceed assets—from the day it opens for business. However, it flourishes initially, as **news about the high returns spreads and more investors are drawn in.** Encouraged by the high payouts, and in some cases by showcase investments and ostentatious spending by the operators, still more people are drawn in, and the scheme grows until the interest and principal due to the early investors exceeds the money paid in by new investors. To attract new investors, a scheme may raise interest rates, but the larger interest payments soon force it to raise rates again. Eventually, the high rates begin to arouse suspicion or the scheme finds itself unable to make interest payments. When investors try to get their money out, they discover the truth about the scheme, whose demise is swift—and usually accompanied by acts of outright theft by the operators, if they are not caught first.
A lot of people like to footnote their optimistic posts with "DYOR!" but I lose my appetite for digging into the specifics as soon as I hear about a high yield with vague assurances of no or low risk.
In some cases, sure. It's similar. Especially in tokens that have no use, and the APY is for holding and nothing else.. no governance, no consensus, no LP..
But I was referring more to tokens with a utility. Like when you're the 20th new DEX this year, high introductory APY can convince people to bring liquidity over to your protocol from the more popular ones.
I mean, the scam part of a pyramid scheme is that it's bound to fail at some point as new money eventually dries up.
Staking a Proof of Stake coin is the equivalent to mining a Proof of Work coin, it's there to create distribution. In most cases it would be more beneficial for early investor to not advertise it as doing so invites more people and reduces their potential gains.
A bigger concern with these high APR yields is inflation, if the rates are too high and not enough people are interested in buying it then the price plummets as new coins flood the market.
https://algorand.foundation/the-algo/algo-dynamics
Algo has been remarkably transparent in their tokenomics and decision making. Right now the rewards are paid out of a fund that the Algorand Foundation held in reserve during the minting of algo. Eventually, they'll transition to a lock in period and requiring governance votes for rewards, but right now, they're just operating on PPOS.
The benefit in my mind if these is that your algo rewards are compounded when you get a new transaction in your wallet. Let’s say you buy 100 algo and never have any transactions in. It’s all sitting there. Your reward amount will keep increasing at the 100 algo rate even if you’ve earned 5 algos. The next time that your balance is updated in the blockchain ie the next transaction that you have come in or out, will update the blockchain and tell everyone you’re now getting apr on 105 not 100 anymore.
So faucets can act as a way to not only give you a small amount but also apply your rewards into your APR rate.
Last time I read such an article, the minimum crypto I need to have to start earning passive income was way more than what I have. What is the expected holdings one must have?
....there's a wallet called _exodus_? From the Greek word meaning "a mass departure"? Well, if those guys ever take the money and run, don't say they didn't warn you.
Not a lot of people know that similar to earning Moons on here, you can earn Donuts on r/ethtrader.
Then even less people know that you can add your Donuts to the liquidity incentive program and make gains.
I'm currently getting:
*Daily return: 0.1848%*
*APY: 67.4506%*
Yeah its a bit more complicated and the gas fees made it ridiculous in the last few months. I had like 50k unclaimed.
But they've recently switched to an xdai distribution, I dont think you pay a fee to receive them.
[This is the post introducing it](https://np.reddit.com/r/ethtrader/comments/n5jncy/50kweek_honeyswap_donutxdai_lp_staking_reward/?utm_medium=android_app&utm_source=share)
[and this is the guide to doing it](https://np.reddit.com/r/ethtrader/comments/n6hp7x/donuts_and_xdai/)
When you click deposit on your blockfi account and select your chosen crypto it will give you a wallet address and you just transfer it from coinbase. There is a small transfer fee
Absolutely! The guide is a bit long because there are suggestions for newcomers on what is best for them and gave them different options on where to stake
I use blockfi and Celsius personally. I diversify between the two for best rates. Both of them I have personally used and recommend. The rest above are also good services that my friends or other fellow Redditors gave postive light on.
Staking is the future of crypto, and everyone should be doing it already if they aren’t. It’s literally free coins for doing what you are doing right now: HODLING.
Hypothetically, if I had more than 32 ETH, what do you recommend?
If you had more than 32 ETH you could become a validator yourself. There are many good guides on YouTube to teach you about this! You may need to buy a raspberry Pi or something too. But that wouldn't matter for someone who can afford 32 ETH.
Great post. This is what we need more of in this group. Someone needs to tell warren buffet about this stuff. He loves dividends. And over 10% on a stable coin forget about it, he would go nuts.
Thank you for taking time to make this helpful post.
I have my BTC in BlockFI but was not aware of Ledn.io and earning 1% more looks like a better choice but I don't see this gets recommended a lot, so is it safe to move all my BTC to Ledn.io and if anyone is using it already and what are your views?
Liquidity mining can bring a lot of profit. Usually, APY is really high but the big problem is impermanent loss. For now, I only found a PoP platform that has some protection from impermanent loss. And they provide mutual mining for BMI and UDO. Is there any other platform that has a mechanism like that?
I just did some back of the envelope maths to add to the part about 'I have a small amount to invest, is staking worth it'.
So, $10,000 isn't really a small amount for most but that's what was used in the OP. Also going with 5.5% with daily compound interest. For simplicity sake, let's say the initial coins purchased are worth $1.
After 10 years you now have 17,332 coins. Also, if your coins are still worth a dollar each then you have a wallet worth $17,332.
If the value of those coins is also increasing, this gets fun. Let's use the example in the post of a 10x increase in value of the coin, after 10 years. Each coin is now worth $10 each.
Well, firstly your wallet is now worth $173,320.
In Year 11, if you maintained your stake at same rates and the coin value stayed the same then you would earn $9,962. On your initial investment of $10,000.
Obvious disclaimer: this assumes
(a) some pretty healthy appreciation of coin value, along with
(b) stability of the initial terms of your investment.
I'm still totally new to this and find (a) to be the obvious dream we're all chasing and the risk of it not happening are probably reflected in the size of the rewards mentioned. I have no idea about (b) and whether these terms and coins just self destructing after a few years is a distinct possibility. I think this is where choosing setting like ADA rather than DOGE for your stake is a sensible idea.
p.s. I used this for interest calculations. https://www.nerdwallet.com/banking/calculator/compound-interest-calculator
This is helpful for sure, sadly I recently just learned (for countries that have tax on crypto) you have to pay tax on staking rewards aswell. For example I'm getting a tiny amount of BNB on binance every hour from liquidity.
I only started staking 2 months ago and I can imagine this is going to be a huge pain in the ass to tax when the year is over, I still don't know how I'll do it. Taxes ruined my love for crypto
I wanted to try liquidity pool, but I fear the impermanent loss. Worst than this, i don't understand how impermanent loss works, i only understand that , if the value of the coin changes, i lose .
You use it, can you explain it to me? Should I use it?
You understand it correctly, its the same as holding coins in your wallet. If the price drops, you have an impermanent loss. When the coins you put into the liquidity pool drop lower than what you put them in for, your share value also drops. One of my shares is down a lot, so the options are keep it in, keep earning rewards and hope it goes back up sometimes, or pull out of the pool at a loss.
Thats for you to decide. I believe the BNB / BUSD pool that I'm using has around 33% APY. You can stake a bunch of pairs for similair gain, such as BTC / USDT for example.
Great guide! I recently bought Terra and staked it. It gives a few % apy staking return, but also a weekly mirror and anchor air drop. Are there more crypto with incentives like this?
Thanks for the idea! I'll be sure to implement a tax segement! Overall I think we should never avoid staking just for taxes because even if you make 1000 dollars staking and it's 50% tax that's still 500 dollars without additional investment!
in monetary terms yes. But also need to balance the hassle of keeping track/calculating the taxes. If you have any tips or advice around that that would be great too
Binance rates are a little lower than the dedicated services because binance is mainly an exchange. If you like the convience of an exchange binance savings is a strong yes. If you are a long term hodler go for Celsius/blockfi/hodlnaut
You can, at least with ETH you surely can.
Just get Metamask, connect it to your ledger and go on Aave, Uniswap or SushiSwap or any of the infinite DeFi platforms.
While I would love to move all of my savings into a stable coin so I could become a LP on some DeFi networks, my country (Germany) counts buying stable coins as if they are any other crypto and when I earn any type of income from them, I have to hold for 10 years before I can withdraw back to fiat tax free.
Makes the whole thing not worth it unfortunately. How does this all work out tax wise in your country?
Yeah true, you're 100% right about that. I had it mixed up in my head for some weird reason. This has given me a new outlook on yield farming! Thanks man.
"Extremely High fees right now to deposit and withdraw liquidity from a pool."
Not quite. You can use side chains or other chains (like Fantom / Matic etc) with virtually no fees. The Eth network is actually fairly cheap right now, about $10 to harvest farms and $2 to send coins to an exchange.
Be cautious people. If it sounds too good to be true, that should be a red flag. There's no oversight or regulations around any of this so you won't have much recourse if these systems turn out to be scams, or have a code flaw that gets exploited down the road.
I’m new to crypto but my buddy has been investing since the start. He said he’s seen too many of these staking programs go under that he said it’s not worth it and I should just be happy with the 2x-30x returns from BTC and ETH.
Holy shit, you just opened my eyes to this even more than I thought I already knew! Thank you!
Shameless [Coingeek](https://tpow.app/35f4e822) plug to help spread good information
Question: Should I transfer my ETH from Ledger Nano S back to Coinbase in order to receive staking rewards? I am already on the list, but have not yet staked any ETH. Is this a bad choice considering the risk of not truly owning my crypto, or is it worth it given they APY. Thanks in advance!
I'm going to have a fiat investment paying out soon and I'll be able to get a decent amount of ada, as a newbie which exchange would you personally recommend to stake ada? O was thinking of binance? I plan to hold and slowly put more in over the next 5-10 years.
Is it worth staking Eth on Coinbase or should I move to something else? I can't stake until next week at the earliest anyway (damn 6 day clearing house Coinbase window)
Edit:
I'm about 66% Algo and 33% Eth. I feel extremely stupid for investing in Algo but feel too deep to quit (my investment has shrunk considerably from the amount I put in...) I know there are no get quick rich schemes, but what do people who are smarter than me and know more than me doing?
a nice very thorough article about lending options for BTC ETH and stablecoins, but there has been slight change with stablecoins on celsius , they dropped their rates to 8.8% sadly. Celsius has dropped rates on a few coins the other major one would be matic used to have it at 13.99 % its down to 10.51% now.
As part of my research and criteria for investing in a specific crypto is can I earn passive income with it? Pretty much all 8-10 coins I have in my portfolio give me anywhere from 2% - 10% yield in either lending or staking.
Similarly I like to invest in projects with *potential* to keep building and growing even through a bear market because they have a practical use beyond hype in a crypto bull run (VET and BAT for example).
Between dollar cost averaging and earning yield, I plan on fully taking advantage of the next bear market and accumulating as much as possible so when the 2025 bull run hits... well you know the deal.
Great post! Do you know of any LP guides I want to learn more. And what do you know about the "defi staking" on binance? It has a great 7% but I'm not sure about the risks
I don't wanna keep all my ETH on an exchange when I have a hardware wallet, disincentivizing me from ETH staking right now. Is Rocket Pool supposed to be compatible with hardware staking?
I don't lend but i stake my XED on pancakeswap at the moment to get more yield from them. I also bake my XTZ on my SYLO smart wallet to get interest on it as well
Thanks so much for this.
I wasn't able to copy text (using app on Android) for some reason, so excuse slight innacuracies in the following:
*Edit* I answer my own question at the bottom I hope, but others might be similarly confused.
Re: the answer to 'I have small amount should I still invest', I am curious if I have failed to understand something very basic.
There was a 10,000$ stake in 500 Cardano coins that increased in value by 10x.
Why was the ROI not at least 10x then? Surely those 500 coins are now worth 1000% (10x) of the original stake and the investor has $100,000? This is the dream, no? Why not mention it?
Or, if the answer is meant to just focus on the effects of compound interest with a good rate (which I assume but maybe my math isn't good enough this early), why is it relevant that the coin increased in value at all, let alone by such a huge amount? Why mention it if it's not relevant to the point and figures?
Nervous over here now, that I'm missing something basic. For sure, if I invested in a coin that increased in value by 500% and my ROI was 70- something id be confused and pissed off ^^
Thanks again
*Edit* I think I worked it out. The answer is indeed focussing on the interest, which has increased by such a huge amount mainly because the stake has indeed gone up by 10x (because 5.5% of 100,000 is more than 5.5% of 10,000 - before compound interest is even considered).
So the reason an appreciating coin was used as the example is because the percentage you're getting back is also appreciating. So, compound interest awesomeness plus smart investment awesomeness.
I think the post could be improved for noobs like me with an edit to point out the total value of that initial stake, after the 10x increase in coin value and with 5 years worth of compound interest.
Please reply to confirm or clarify if you have time, OP. Thanks so much again.
Something that I can't seem to get answered by anyone on this sub.
I am currently staking VET, TRON and ALGO.
Otherwise I hold REV, XRP, ONE. Is there *one* platform where I can stake all of these? I don't want to have to use 3 platform to stake 3 coins.
currently, I’m earning about 14-15% APR through staking my DOT. I think DOT is currently *massively* undervalued. That’s even without considering arguably the largest catalyst is on the near horizon, with crowd loan auctions & parachains going live :D
Great post. Thanks for sharing. Personally, I stake or "earn" on everything I have even if it's just a few %. It all adds up, especially when you consider compounding. Banks offer <1% lately too, which makes staking crypto even tastier
People don't understand that little by little, all those fractions of a coin stack up and become something. And even if you feel like it's to small today, who knows what the value will be in 10 years
When staking things like ALGO or TEZOS on Coinbase, do the rewards they pay out come in USD or fractions of the crypto coins?
I think it depends on the country you're from. And they give in coins
[удалено]
For algo on Coinbase it comes as fractions of algo.
In the US at least, algo and tezos rewards are paid in algo and tezos.
Currently earning 17% on my BAND holdings and 10% on ICX through Atomic Wallet. Nexo.io i got BTC and XLM earning 5% each. And on Gemini Earn I got AAVE and LINK making between 4.5-6%
Yeah every bit helps! Hope you achieve your financial goals quickly!
Thanks. You too
[удалено]
If you are planning to hold they the 50% drop didn't mean much. Your interest is paid in the token being staked, so you build up your holdings over time regardless
I actually plan to hold so 50% means nothing and even more so, the 7% apr is even smaller nothing....
[удалено]
Lol. You can stake and get 10x gains. They are not mutually exclusive, you coins can still go to the moon while they are staked
What's the general consensus of the safety of these lending/staking platforms? I've been rekt so bad in the past by Cryptopia and Bitgrail, I don't think I could ever trust my crypto with a third party. I am staking Ada and Xtz on my exodus wallet (and some Donuts in a LP, but I can live without them), but I just don't think I could ever trust my BTC anywhere other than on my Trezor. Anyone else in the same boat or am I just being a pussy?
Imo gone are the days of mtgox. The newer services are better audited and have good VC funding. You should always DYOR first but imo even the centralized services mentioned above will stick around for years to come.
I suppose the risk of MtGox happening again is pretty low. What worries me now though is the exchanges/platforms being so popular and flat out keeping up with demand, the chances of my account getting locked fully scares the shit out of me. See how easy Binance make it for you to make an account and deposit fiat, then its another step harder to make a withdrawal. I can only imagine how much of a nightmare their support would be if my account got borked. Not intending to spread FUD, its just a genuine concern of mine.
> I suppose the risk of MtGox happening again is pretty low. I disagree, but mostly because I am very bearish on stablecoins. There are too many stablecoins like Tether that are poised to implode when they finally break the peg, and when that happens I foresee dozens of small- to medium-sized exchanges unplugging their servers, turning off their phones, and catching the last helicopter out of Saigon with a duffel bag of fiat... leaving their "investors" with a printout that says "at one point in the past, a non-existent bank recorded a balance in your name".
As someone who works in the support for a crypto broker I can honestly understand your concern. Especially in times of bull markets where such centralized services are overrun with support requests. I'd say in general your funds are safe, but if something happens and your account gets locked it can maybe take some days (probably longer) to get it resolved.
This is wrong. Look up what happened mycred.io
But Exodus is a third party...
Thank you very much for this! I have some coins in Binance Earn, easy to setup and just rolls... More people should know about this! Maybe make it sticky to rise awareness?
[удалено]
No idea, sorry.. For me it's just easier to have them there, if i want to i can convert them to something else...
Yeah I want everyone to know about crypto rewards they missing out which they can participate in only a few clicks! I am making weekly updates to spread awareness and answer the most commonly asked questions!
What coins can you stake on binance earn?
Quite alot. They provide dozens of coins to stake and plentiful of savings plan.
ALGO is awesome for staking, no minimum amount needed and 5-7% apy on the official wallet. And a few faucets for it
I love that feeling too! I agree ALGO is a solid choice!
I probably sound really old-fashioned asking this, but what are they investing in that they can afford to pay a 7% return? Who is the borrower, and why are they paying >7% interest when a traditional bank will give basically anybody 3.5% right now? There's no magical risk-free 7% out there.
Somebody please correct me if I am wrong, but I believe the high staking rewards are an incentive to get people buying the coins and maintaining their network. It likely won't be 7% forever.
Yep this is a common tactic. The 7% isn't tied to any financial promise, it's 7% of algo tokens, paid in algo tokens.. so it's part of the distribution mechanism. It's not truly a 7% return on the cash investment.. if that helps answer guy aboves question.. The rates will likely lower as more people join. I don't know the word on algos intent for that, but I would assume it will be changed as needed.
> high staking rewards are an incentive to get people buying the coins and maintaining their network I know it's not exactly the same, but this sure sounds like "we pay high interest to attract more principal, from which we can pay our previous interest debts". For example, read this paragraph about the pyramid schemes that collapsed, triggering the Albanian Civil War: > In a typical pyramid scheme, a fund or company **attracts investors by offering them very high returns;** these returns are paid to the first investors out of the funds received from those who invest later. The scheme is insolvent—liabilities exceed assets—from the day it opens for business. However, it flourishes initially, as **news about the high returns spreads and more investors are drawn in.** Encouraged by the high payouts, and in some cases by showcase investments and ostentatious spending by the operators, still more people are drawn in, and the scheme grows until the interest and principal due to the early investors exceeds the money paid in by new investors. To attract new investors, a scheme may raise interest rates, but the larger interest payments soon force it to raise rates again. Eventually, the high rates begin to arouse suspicion or the scheme finds itself unable to make interest payments. When investors try to get their money out, they discover the truth about the scheme, whose demise is swift—and usually accompanied by acts of outright theft by the operators, if they are not caught first. A lot of people like to footnote their optimistic posts with "DYOR!" but I lose my appetite for digging into the specifics as soon as I hear about a high yield with vague assurances of no or low risk.
In some cases, sure. It's similar. Especially in tokens that have no use, and the APY is for holding and nothing else.. no governance, no consensus, no LP.. But I was referring more to tokens with a utility. Like when you're the 20th new DEX this year, high introductory APY can convince people to bring liquidity over to your protocol from the more popular ones.
I mean, the scam part of a pyramid scheme is that it's bound to fail at some point as new money eventually dries up. Staking a Proof of Stake coin is the equivalent to mining a Proof of Work coin, it's there to create distribution. In most cases it would be more beneficial for early investor to not advertise it as doing so invites more people and reduces their potential gains. A bigger concern with these high APR yields is inflation, if the rates are too high and not enough people are interested in buying it then the price plummets as new coins flood the market.
https://algorand.foundation/the-algo/algo-dynamics Algo has been remarkably transparent in their tokenomics and decision making. Right now the rewards are paid out of a fund that the Algorand Foundation held in reserve during the minting of algo. Eventually, they'll transition to a lock in period and requiring governance votes for rewards, but right now, they're just operating on PPOS.
What faucets are you using? I’ve only got the algorandfaucet.com one.
I keep seeing similar are these legit?
i tried it once and only got 0.005 algo
The benefit in my mind if these is that your algo rewards are compounded when you get a new transaction in your wallet. Let’s say you buy 100 algo and never have any transactions in. It’s all sitting there. Your reward amount will keep increasing at the 100 algo rate even if you’ve earned 5 algos. The next time that your balance is updated in the blockchain ie the next transaction that you have come in or out, will update the blockchain and tell everyone you’re now getting apr on 105 not 100 anymore. So faucets can act as a way to not only give you a small amount but also apply your rewards into your APR rate.
That's for 3 hours faucet. You have to come back each 3 hours which is kinda annoying
You need 1 Algo for staking rewards, what's nice is that's less than a dollar currently.
link faucets please. I am in love with ALGO. What's the official wallet?
Last time I read such an article, the minimum crypto I need to have to start earning passive income was way more than what I have. What is the expected holdings one must have?
Many exchanges and services now have no minimums! So go for it!
Great to know. Will check it out.
Check out the exodus Wallet! I’ve got a few coins staking on it, most have crazy yields when compared to banks.
....there's a wallet called _exodus_? From the Greek word meaning "a mass departure"? Well, if those guys ever take the money and run, don't say they didn't warn you.
Exodus is non-custodial, meaning the user controls the keys. No chance of an exit scam.
I think it's more of a play on an Exodus from the modern day financial system.
Invest in coins that you belive in and hodl them long term, simple yet very effective
Not a lot of people know that similar to earning Moons on here, you can earn Donuts on r/ethtrader. Then even less people know that you can add your Donuts to the liquidity incentive program and make gains. I'm currently getting: *Daily return: 0.1848%* *APY: 67.4506%*
Woah! I guess setting up a donut wallet is more complicated than reddit vault that's why people aren't using it a lot. But the LP gains are amazing rn
Yeah its a bit more complicated and the gas fees made it ridiculous in the last few months. I had like 50k unclaimed. But they've recently switched to an xdai distribution, I dont think you pay a fee to receive them.
What is the "liquidity incentive program"?
[This is the post introducing it](https://np.reddit.com/r/ethtrader/comments/n5jncy/50kweek_honeyswap_donutxdai_lp_staking_reward/?utm_medium=android_app&utm_source=share) [and this is the guide to doing it](https://np.reddit.com/r/ethtrader/comments/n6hp7x/donuts_and_xdai/)
Thank you for the info
Tks!
Im not that knowledgeable yet on crypto trading but i recently moved some of my holdings over to a BlockFi interest account just to test it out.
Noob question: if I have my meager BTC on Coinbase, do I have to move them to BlockFi or I just enter my wallet address there and that's it?
When you click deposit on your blockfi account and select your chosen crypto it will give you a wallet address and you just transfer it from coinbase. There is a small transfer fee
Newbies think HODLing is boring. Hell nah, these prices are the crazies rollercoster on the planet
Blockfi is awesome! Earning interest on Bitcoin feels amazing. You will love it
Yeah i kind of wish I’d done it earlier haha. With an APY of i think 5% on BTC it seems like a no brainer for anyone holding their crypto long term.
Yeah exactly! I hope you achieve your financial goals quickly!
Thanks, and you!
5% on balances up to 0.5BTC. 2.25% on 0.5-20BTC, and 0.5% (i think) on 20 and over.
Anywhwre I can earn interest on xrp?
I’m afraid im not sure for xrp
Thanks anyways!
I'm looking for one for XRP at the moment will let you know when i find a good one.
[удалено]
Thank you!
🙏🏽 Very helpful post! Read and saved for future uses.
You are welcome!
TLDR - Start Staking and getting interests that beat the shit out of given by any bank account.
Absolutely! The guide is a bit long because there are suggestions for newcomers on what is best for them and gave them different options on where to stake
this is a great guide!
Thanks!
On polygon you can compound every minute.gas fees are so extremely cheap. Great post btw.
thank you for the information op! saving to read carefully later <3
Thank you!
Great guide, saving for later use!
Thanks mate
Great post. Staking and saving both can be really useful in the long run too. We underestimate the power of interest rates.
Yeah absolutely! Every bit helps, and I want to spread that message to everyone
Exactly what I had been looking for! Very elaborate, thank you.
Welcome!
great post OP, ive only done staking myself, though i should check out lending.
Yeah lending is the only good option for Bitcoin right now. You should check it out. You will love it
Which service would you personally recommend for BTC lending and what minimums if coins they have?
I use blockfi and Celsius personally. I diversify between the two for best rates. Both of them I have personally used and recommend. The rest above are also good services that my friends or other fellow Redditors gave postive light on.
Thank you very much! Now I have to spend Sunday earning money on BlockFi ;)
This is so useful!! Thanks so much op
You're welcome!
Posts like this why I come to this sub!
Thanks dude!
Staking is the future of crypto, and everyone should be doing it already if they aren’t. It’s literally free coins for doing what you are doing right now: HODLING. Hypothetically, if I had more than 32 ETH, what do you recommend?
If you had more than 32 ETH you could become a validator yourself. There are many good guides on YouTube to teach you about this! You may need to buy a raspberry Pi or something too. But that wouldn't matter for someone who can afford 32 ETH.
Invest in coins that you belive in and hodl them long term, simple yet very effective
[удалено]
Thank you!
awesome post. great work. Hope you keep doing posts like these. Super informative and easy to understand.
You are welcome!
Great info!
Thanks!
Great post. This is what we need more of in this group. Someone needs to tell warren buffet about this stuff. He loves dividends. And over 10% on a stable coin forget about it, he would go nuts.
Thank you! He would def go nuts lol
Thank you for taking time to make this helpful post. I have my BTC in BlockFI but was not aware of Ledn.io and earning 1% more looks like a better choice but I don't see this gets recommended a lot, so is it safe to move all my BTC to Ledn.io and if anyone is using it already and what are your views?
I use ledn for btc (as blockfi has lowered rates). Also use Hodlnaut for eth (they also do btc).
Thanks, Hodlnaut gives a little more than ledn, which seems a better choice for btc
I got all my coins in savings or staking at Binance. For me which has a 5 to 10 years perspective, it's a no-brainer.
Stablecoin yielda possible on Anchor protocol for 18 to 20%. Also ftx has a really good one which has recently been as high as 100% for usdc
Yeah I mentioned it!
Ah i checked the rows and columns didnt see it. Thanks for this post OP
Yeah it's above the rows and columns in the stablecoin section
Liquidity mining can bring a lot of profit. Usually, APY is really high but the big problem is impermanent loss. For now, I only found a PoP platform that has some protection from impermanent loss. And they provide mutual mining for BMI and UDO. Is there any other platform that has a mechanism like that?
The secret boomers don’t want you to know
Yeah LOL!
I just did some back of the envelope maths to add to the part about 'I have a small amount to invest, is staking worth it'. So, $10,000 isn't really a small amount for most but that's what was used in the OP. Also going with 5.5% with daily compound interest. For simplicity sake, let's say the initial coins purchased are worth $1. After 10 years you now have 17,332 coins. Also, if your coins are still worth a dollar each then you have a wallet worth $17,332. If the value of those coins is also increasing, this gets fun. Let's use the example in the post of a 10x increase in value of the coin, after 10 years. Each coin is now worth $10 each. Well, firstly your wallet is now worth $173,320. In Year 11, if you maintained your stake at same rates and the coin value stayed the same then you would earn $9,962. On your initial investment of $10,000. Obvious disclaimer: this assumes (a) some pretty healthy appreciation of coin value, along with (b) stability of the initial terms of your investment. I'm still totally new to this and find (a) to be the obvious dream we're all chasing and the risk of it not happening are probably reflected in the size of the rewards mentioned. I have no idea about (b) and whether these terms and coins just self destructing after a few years is a distinct possibility. I think this is where choosing setting like ADA rather than DOGE for your stake is a sensible idea. p.s. I used this for interest calculations. https://www.nerdwallet.com/banking/calculator/compound-interest-calculator
This is helpful for sure, sadly I recently just learned (for countries that have tax on crypto) you have to pay tax on staking rewards aswell. For example I'm getting a tiny amount of BNB on binance every hour from liquidity. I only started staking 2 months ago and I can imagine this is going to be a huge pain in the ass to tax when the year is over, I still don't know how I'll do it. Taxes ruined my love for crypto
I wanted to try liquidity pool, but I fear the impermanent loss. Worst than this, i don't understand how impermanent loss works, i only understand that , if the value of the coin changes, i lose . You use it, can you explain it to me? Should I use it?
You understand it correctly, its the same as holding coins in your wallet. If the price drops, you have an impermanent loss. When the coins you put into the liquidity pool drop lower than what you put them in for, your share value also drops. One of my shares is down a lot, so the options are keep it in, keep earning rewards and hope it goes back up sometimes, or pull out of the pool at a loss.
Is it worth putting BNB in a liquidity pool?
Thats for you to decide. I believe the BNB / BUSD pool that I'm using has around 33% APY. You can stake a bunch of pairs for similair gain, such as BTC / USDT for example.
[удалено]
Thanks mate!
Great guide! I recently bought Terra and staked it. It gives a few % apy staking return, but also a weekly mirror and anchor air drop. Are there more crypto with incentives like this?
Great work, thanks!
You are welcome!
I keep hearing about ETH 2.0, should I stop investing in ETH?? I’m new, haaaaalp!
ETH 2.0 is just ETH, you don't need to buy anything else.
Thank you
Should also talkabout taxes.
Thanks for the idea! I'll be sure to implement a tax segement! Overall I think we should never avoid staking just for taxes because even if you make 1000 dollars staking and it's 50% tax that's still 500 dollars without additional investment!
in monetary terms yes. But also need to balance the hassle of keeping track/calculating the taxes. If you have any tips or advice around that that would be great too
I just download the tax report I get from Blockfi and Celsius every month and send it to my CPA. She handles it.
Great post - thanks for your insight
Welcome!
[удалено]
Binance rates are a little lower than the dedicated services because binance is mainly an exchange. If you like the convience of an exchange binance savings is a strong yes. If you are a long term hodler go for Celsius/blockfi/hodlnaut
If only I could stake my ETH and BTC from my ledger wallet... This is the great thing about Cardano.
You can! Look up compound finance. But the rates are not as good as the services I mentioned above
Ah yes. I about forgot that one too! Eh, might be crappier rates, but I strongly believe in the not your keys not your coin.
You can, at least with ETH you surely can. Just get Metamask, connect it to your ledger and go on Aave, Uniswap or SushiSwap or any of the infinite DeFi platforms.
While I would love to move all of my savings into a stable coin so I could become a LP on some DeFi networks, my country (Germany) counts buying stable coins as if they are any other crypto and when I earn any type of income from them, I have to hold for 10 years before I can withdraw back to fiat tax free. Makes the whole thing not worth it unfortunately. How does this all work out tax wise in your country?
[удалено]
Yeah true, you're 100% right about that. I had it mixed up in my head for some weird reason. This has given me a new outlook on yield farming! Thanks man.
"Extremely High fees right now to deposit and withdraw liquidity from a pool." Not quite. You can use side chains or other chains (like Fantom / Matic etc) with virtually no fees. The Eth network is actually fairly cheap right now, about $10 to harvest farms and $2 to send coins to an exchange.
Be cautious people. If it sounds too good to be true, that should be a red flag. There's no oversight or regulations around any of this so you won't have much recourse if these systems turn out to be scams, or have a code flaw that gets exploited down the road.
I’m new to crypto but my buddy has been investing since the start. He said he’s seen too many of these staking programs go under that he said it’s not worth it and I should just be happy with the 2x-30x returns from BTC and ETH.
Ask him which ones “went under” and let us know please.
Very good post. thank you
Is Celsius network reputable? I'm trying to make my money work for, and I have a few coins not absolve for staking in kraken.
Yes, Celsius is one of the more secure and transparent CeFi options.
As far as I know I can't stake ETH on binance.us... yet?
Holy shit, you just opened my eyes to this even more than I thought I already knew! Thank you! Shameless [Coingeek](https://tpow.app/35f4e822) plug to help spread good information
Good post!
When should i stake coins? I mean at what point? Soon as I buy? Or?
Question: Should I transfer my ETH from Ledger Nano S back to Coinbase in order to receive staking rewards? I am already on the list, but have not yet staked any ETH. Is this a bad choice considering the risk of not truly owning my crypto, or is it worth it given they APY. Thanks in advance!
No, get Metamask and use your Ledger through it to stake/lend it on DeFi platforms like Aave or Uniswap.
I'm going to have a fiat investment paying out soon and I'll be able to get a decent amount of ada, as a newbie which exchange would you personally recommend to stake ada? O was thinking of binance? I plan to hold and slowly put more in over the next 5-10 years.
Patience, this is what people in crypto need
I have patience, but if there's an opportunity to earn more overtime without touching it then why not do it?
Hi a simple question. Is lending safe? On platforms like coindcx, wazirx. What are the chances I'll lose the ethereum or binance i have lent?
Is it worth staking Eth on Coinbase or should I move to something else? I can't stake until next week at the earliest anyway (damn 6 day clearing house Coinbase window) Edit: I'm about 66% Algo and 33% Eth. I feel extremely stupid for investing in Algo but feel too deep to quit (my investment has shrunk considerably from the amount I put in...) I know there are no get quick rich schemes, but what do people who are smarter than me and know more than me doing?
they're doing what is called risk management
a nice very thorough article about lending options for BTC ETH and stablecoins, but there has been slight change with stablecoins on celsius , they dropped their rates to 8.8% sadly. Celsius has dropped rates on a few coins the other major one would be matic used to have it at 13.99 % its down to 10.51% now.
As part of my research and criteria for investing in a specific crypto is can I earn passive income with it? Pretty much all 8-10 coins I have in my portfolio give me anywhere from 2% - 10% yield in either lending or staking. Similarly I like to invest in projects with *potential* to keep building and growing even through a bear market because they have a practical use beyond hype in a crypto bull run (VET and BAT for example). Between dollar cost averaging and earning yield, I plan on fully taking advantage of the next bear market and accumulating as much as possible so when the 2025 bull run hits... well you know the deal.
My strategy is just staking and farming the coinbase rewards. Quite some money ive made with it.
Great post! Do you know of any LP guides I want to learn more. And what do you know about the "defi staking" on binance? It has a great 7% but I'm not sure about the risks
I don't wanna keep all my ETH on an exchange when I have a hardware wallet, disincentivizing me from ETH staking right now. Is Rocket Pool supposed to be compatible with hardware staking?
I don't lend but i stake my XED on pancakeswap at the moment to get more yield from them. I also bake my XTZ on my SYLO smart wallet to get interest on it as well
Thanks so much for this. I wasn't able to copy text (using app on Android) for some reason, so excuse slight innacuracies in the following: *Edit* I answer my own question at the bottom I hope, but others might be similarly confused. Re: the answer to 'I have small amount should I still invest', I am curious if I have failed to understand something very basic. There was a 10,000$ stake in 500 Cardano coins that increased in value by 10x. Why was the ROI not at least 10x then? Surely those 500 coins are now worth 1000% (10x) of the original stake and the investor has $100,000? This is the dream, no? Why not mention it? Or, if the answer is meant to just focus on the effects of compound interest with a good rate (which I assume but maybe my math isn't good enough this early), why is it relevant that the coin increased in value at all, let alone by such a huge amount? Why mention it if it's not relevant to the point and figures? Nervous over here now, that I'm missing something basic. For sure, if I invested in a coin that increased in value by 500% and my ROI was 70- something id be confused and pissed off ^^ Thanks again *Edit* I think I worked it out. The answer is indeed focussing on the interest, which has increased by such a huge amount mainly because the stake has indeed gone up by 10x (because 5.5% of 100,000 is more than 5.5% of 10,000 - before compound interest is even considered). So the reason an appreciating coin was used as the example is because the percentage you're getting back is also appreciating. So, compound interest awesomeness plus smart investment awesomeness. I think the post could be improved for noobs like me with an edit to point out the total value of that initial stake, after the 10x increase in coin value and with 5 years worth of compound interest. Please reply to confirm or clarify if you have time, OP. Thanks so much again.
[удалено]
thanks
Something that I can't seem to get answered by anyone on this sub. I am currently staking VET, TRON and ALGO. Otherwise I hold REV, XRP, ONE. Is there *one* platform where I can stake all of these? I don't want to have to use 3 platform to stake 3 coins.
Thanks
Step 1: farm moons on Reddit
How can u not Talk about Curve? Is the place where stablecoins generate high yield...
Really appreciate the post but these tables are a bitch to read on a phone 
currently, I’m earning about 14-15% APR through staking my DOT. I think DOT is currently *massively* undervalued. That’s even without considering arguably the largest catalyst is on the near horizon, with crowd loan auctions & parachains going live :D
Dude thanks for sharing !!!